Vancouver, British Columbia – TheNewswire - 15 September 2026 – WestGold Metals Corp. (“WestGold” or the “Company”) (CSE: WGM; OTCQB: WGMTF; FSE: V0U) is pleased to announce that it has entered into a binding option acquisition agreement dated 13 September 2026 (the “Agreement”) with Jesmond Capital Ltd. (“Jesmond”) (TSXV: JES.P), pursuant to which WestGold has agreed to sell, assign and transfer to Jesmond its option (the “Isoneva Option”) to acquire a 100% undivided interest in the Isoneva gold property in Finland (the “Isoneva Property”).

The Isoneva Option was granted to WestGold (then Nordique Resources Inc.) by Gemdale Gold Inc. (“Gemdale”) under an option agreement dated effective June 25, 2025 (the “Underlying Option Agreement”).

The assignment (the “Transaction”) is intended to constitute Jesmond’s “Qualifying Transaction” under Policy 2.4 of the TSX Venture Exchange (the “Exchange”), and will complete WestGold’s repositioning as a North American precious metals explorer. Since January 2026 the Company has renewed its leadership team, changed its name from Nordique Resources Inc., optioned the Amie, Silver Rock and Demming projects in Owyhee County, Idaho, and is now working towards a maiden drill program.

Transaction Terms

Under the Agreement, WestGold will sell, assign and transfer to Jesmond the Isoneva Option, the technical information it holds in respect of the Isoneva Property and the benefit of all qualifying exploration expenditures incurred to date. In consideration, Jesmond will:

• issue WestGold 1,075,000 common shares of Jesmond (the Transaction Shares”) at closing, representing approximately 9.9% of Jesmond’s issued and outstanding common shares following that issuance and before giving effect to Jesmond’s concurrent financing to be completed in connection with its Qualifying Transaction; 

• pay WestGold C$250,000 in cash on closing, together with reimbursement of the €52,197 in exploration expenditures funded by WestGold to satisfy the first C$600,000 expenditure requirement under the Underlying Option Agreement; and 

• pay WestGold a further C$325,000 if and when Jesmond exercises the Isoneva Option. 

The Transaction Shares will be held in escrow, with 107,500 released at closing and the remaining 967,500 released in six equal quarterly instalments over the following 18 months. Exercise of the Isoneva Option requires Jesmond to complete further exploration expenditures and payments to Gemdale under the Underlying Option Agreement, and there is no assurance that it will do so.

Benefits to WestGold Shareholders

• Cash returned to the balance sheet. C$250,000 plus reimbursement of €52,197 on closing, with a further C$325,000 payable if the Isoneva Option is exercised, recovering a substantial portion of the option payments and exploration expenditures WestGold has funded at Isoneva. 

• Funding obligation removed. WestGold will have no further obligation to fund exploration at Isoneva. The remaining expenditure and payment obligations under the Underlying Option Agreement pass to Jesmond on closing. 

• Continued exposure to Isoneva. WestGold will hold approximately 9.9% of Jesmond before giving effect to Jesmond’s concurrent financing, so WestGold shareholders retain exposure to exploration success at Isoneva without the Company funding it. That interest will be diluted by Jesmond’s concurrent financing and any subsequent issuances. 

• A single focus. Management time and capital are directed entirely to the Idaho Portfolio, where the Company is completing the surface work required to support its maiden drill program. 

CEO Comment

James Hocking, Chief Executive Officer and Director of WestGold, commented:

“We’re very pleased with the outcome of this transaction as it will complete the repositioning we began in January. Isoneva is a credible project, but our strategic focus is now on North America and holding it would mean spending capital and management time we would rather put into the Idaho Projects.

Assigning the Isoneva option allows us to recover a portion of our investment in the project while retaining ongoing exposure through our interest in Jesmond. Jesmond’s founding group brings relevant experience in financing and advancing mining projects, including in Finland, and we believe Isoneva will be well positioned to move forward under their stewardship while we further concentrate our efforts on advancing the Idaho Projects.”

Conditions to Closing

Completion of the Transaction is subject to a number of conditions, including completion by Jesmond of its Qualifying Transaction and concurrent financing; receipt of all required Exchange, regulatory and third-party approvals and consents, including an acknowledgement from Gemdale as to the status of the Underlying Option Agreement; and the resulting issuer satisfying the Exchange’s initial listing requirements. Either party may terminate the Agreement if closing has not occurred by December 31, 2026.

About the Isoneva Property

The Isoneva Property comprises three exploration permits, Isoneva, Isoneva 2 and Isoneva 3, in the municipality of Reisjärvi, central Finland. The property was optioned from Gemdale in June 2025. There are no current mineral resources or mineral reserves defined on the Isoneva Property.

About Jesmond Capital Ltd.

Jesmond Capital Ltd. (TSXV: JES.P) is a Calgary, Alberta based corporation and a “Capital Pool Company” as defined in the policies of the Exchange. Further information regarding Jesmond and the Transaction will be set out in Jesmond’s disclosure documents filed under its profile on SEDAR+ at www.sedarplus.ca.

About WestGold Metals Corp.

WestGold Metals Corp. is a Canadian mineral exploration company focused on the identification, acquisition, and advancement of precious metal exploration opportunities in established North American mining districts. The Company is building a portfolio of high-quality assets in politically stable, mining-friendly jurisdictions, led by an experienced management team with backgrounds in equity capital markets, commercial development, and technical exploration. WestGold’s flagship assets are the Amie, Silver Rock and Demming epithermal gold-silver projects comprising the Idaho Portfolio in Owyhee County, Idaho, USA. WestGold’s common shares are listed on the Canadian Securities Exchange under the symbol WGM, quoted on the OTCQB under the symbol WGMTF, and traded on the Frankfurt Stock Exchange under the symbol V0U.

For more information, investors are encouraged to review the Company’s public filings available at www.sedarplus.ca.

 

ON BEHALF OF THE BOARD OF DIRECTORS

James Hocking, CEO & Director

For further information, please contact:

James Hocking

Chief Executive Officer & Director

E: investors@westgoldmetals.com

 

Forward-Looking Statements

This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions.

Forward-looking statements in this news release include, without limitation, statements relating to the completion of the Transaction; the completion by Jesmond of its Qualifying Transaction and concurrent financing; the receipt of all required Exchange, regulatory and third-party approvals and consents, including the acknowledgement of Gemdale; the issuance, escrow and release of the Transaction Shares and WestGold’s resulting interest in Jesmond; the receipt by WestGold of the cash payments and reimbursement described in this news release; the exercise by Jesmond of the Isoneva Option; the ability of the resulting issuer to satisfy the Exchange’s initial listing requirements; and WestGold’s exploration strategy, including the advancement of the Idaho Portfolio and the timing and completion of a maiden drill program at Amie.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those reflected in the forward-looking statements or information, including, without limitation: the risk that the Transaction may not be completed on the terms described or at all; the risk that Jesmond may not complete its Qualifying Transaction or concurrent financing; the risk that required Exchange, regulatory or third-party approvals or consents may not be obtained; the risk that the Isoneva Option is not maintained in good standing; the risk that the cash payments described in this news release are not received by WestGold; the risk that Jesmond does not exercise the Isoneva Option; the illiquidity of, and escrow restrictions applicable to, the Transaction Shares; the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the early stage of the Company’s properties; the effect of changes in commodity prices and foreign exchange rates; regulatory, environmental and land access risks; the availability of equipment and personnel to carry out work programs; that each stage of work will be completed within expected time frames; that current geological models and interpretations prove correct; the results of ongoing work programs may lead to a change of exploration priorities; and the efforts and abilities of the senior management team. There can be no assurance that the Transaction will be completed on the terms described or at all.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.