Mr. Darcy Marud reports

WESTERN EXPLORATION ANNOUNCES BROKERED PRIVATE PLACEMENT FOR MINIMUM GROSS PROCEEDS OF C$2.1 MILLION TO A MAXIMUM OF C$4.4 MILLION

Western Exploration Inc. has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and bookrunner in connection with a best efforts private placement offering of a minimum of three million units of the company at a price of 70 cents per unit for minimum gross proceeds of $2.1-million and a maximum of 6.25 million units at the offering price for maximum gross proceeds of up to $4,375,000.

Each unit will consist of one variable voting share of the company and one-half of one variable voting share purchase warrant. Each whole warrant shall entitle the holder to purchase one variable voting share of the company at a price of 95 cents at any time on or before that date that is 36 months after the closing date (as herein defined).

As part of the marketed offering, the agent will have an option, exercisable in full or in part up to 48 hours prior to the closing date, to sell up to an additional 900,000 units at the offering price for additional gross proceeds of up to $630,000. The offering will be completed pursuant to the terms of an agency agreement to be entered into between the company and the agent.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units will be offered for sale to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan, pursuant to the listed issuer financing exemption in Part 5A of NI 45-106. The unit shares and warrant shares underlying the units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The units sold under the offering may also be issued to purchasers outside of Canada, including to purchasers resident in the United States, pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended, which will be subject to resale restrictions. Purchasers are advised to consult their own legal advisers in this regard.

The company intends to use the net proceeds from the offering for the exploration and advancement of the company's Aura project, located in Nevada, as well as for general corporate purposes and working capital.

The offering is scheduled to close on June 6, 2025, or such other date as the company and the agent may agree. Completion of the offering is subject to certain closing conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

An offering document related to the offering will be available on SEDAR+ under Western Exploration's issuer profile and on Western Exploration's corporate website within the time period prescribed under National Instrument 45-106. Prospective investors should read this offering document before making an investment decision.

About Western Exploration Inc.

Western Exploration is focused on advancing the 100-per-cent-owned Aura project, located approximately 120 kilometres/75 miles north of the city of Elko, Nev. The Aura project includes three unique gold and silver deposits: Doby George, Gravel Creek and Wood Gulch. Western Exploration comprises an experienced team of precious metals experts that aim to lead the company to becoming North America's premiere gold and silver development company.

Additional information regarding Western Exploration can be found on Western Exploration's corporate website on SEDAR+ under Western Exploration's issuer profile.

We seek Safe Harbor.