Vancouver, British Columbia – May 21, 2026 – TheNewswire - WestGold Metals Corp. (“WestGold” or the “Company”) (CSE: WGM; OTCQB: WGMTF; FSE: V0U) is pleased to announce that its previously announced non-brokered private placement for gross proceeds of up to C$2,000,000 (the "Offering") is now fully allocated.

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

"We are very pleased and humbled by the strong investor response to this Offering. The support we have received reflects confidence in WestGold's strategy and the quality of the Idaho Portfolio we are building. We look forward to closing in the coming weeks and deploying this capital to advance our technical work programs."

As previously announced on May 20, 2026, the Offering consists of up to 25,000,000 units (each, a "Unit") at a price of C$0.08 per Unit, with each Unit comprising one common share and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share at an exercise price of C$0.135 for a period of 36 months from the date of issuance. The Company intends to use net proceeds to advance its exploration and acquisition strategy, including planned work programs on the Idaho Portfolio.

Completion of the Offering remains subject to customary closing conditions, including acceptance by the Canadian Securities Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities legislation.

Overview of the Idaho Properties

The three properties comprising the Idaho Portfolio cover a combined 79 unpatented lode mining claims on 660.5 hectares of BLM-administered lands, spanning two distinct geological settings with strong historical mining pedigree and significant modern exploration upside.

Amie Project, epithermal Au-Ag, Owyhee County, Idaho

The Amie Project is WestGold’s flagship asset within the Idaho Portfolio and the Company’s primary near-term exploration focus. The property comprises 53 unpatented lode mining claims covering approximately 392.79 hectares in Owyhee County, southwest Idaho, located approximately 70 km southwest of Mountain Home, accessible year-round by vehicle via paved State Highway 78 and secondary gravel roads.

The Amie Project is situated on the northeastern flank of the Owyhee Mountains, at the margin of the Snake River Plain, within the same southeast-trending Miocene-age epithermal gold-silver belt that hosts Integra Resources’ DeLamar Project, a past-producing mine with a current measured and indicated resource of approximately 2.9 million ounces of gold and 144 million ounces of silver (Integra Resources, February 2026 feasibility study). DeLamar is located approximately 30 miles northwest of the Amie Property. Physical evidence of historical activity on the Amie Property includes 11 adits, 4 shafts, and 46 test pits across the property, including the past-producing Amie No. 1 and No. 2 shafts, the Big Shot Mine, and the Roadside Mine.

Since acquiring the property in 2021, IDEX conducted a systematic reconnaissance exploration program comprising soil geochemistry, rock chip sampling, and spectral mineralogy analysis:

• Soil Geochemistry: 984 soil samples on a 100 m × 50 m grid across approximately 80% of the property returned anomalous gold, silver, lead, arsenic and antimony, with distinct mineralized trends interpreted to reflect pre-existing fault structures. 

• Spectral Mineralogy: 58 rock samples analyzed by short-wave infrared spectroscopy returned mineral assemblages consistent with an intermediate-sulfidation epithermal environment possibly transitioning to a low-sulfidation environment, the same deposit classification characteristic of the broader Silver City-DeLamar region. 

Silver Rock Project, epithermal Ag-Au, Owyhee County, Idaho

The Silver Rock Project is located in Owyhee County, southwest Idaho, within the same Miocene-age epithermal belt as the Amie Project. The property hosts a high-grade silver system with multi-phase, northwest-trending epithermal veins, and historical infrastructure including 8 adits and 15 pits. Elevated pathfinder elements (mercury, arsenic, antimony) support the epithermal signature. The property has received no modern systematic exploration or drilling.

Demming Project, epithermal Au-Ag, Owyhee County, Idaho

The Demming Project is located in Owyhee County, southwest Idaho. The property hosts a vertical Au-Ag quartz fissure vein system extending over 1,000 feet in strike length, averaging 6–10 feet in width, associated with a historic mine that operated a 100-ton-per-day flotation mill with approximately 8,000 feet of underground development. Dozens of additional parallel veins remain undrilled, extending along a 20-mile structural belt. A stockpile of mineralized material remains on site.

There are no current mineral resources defined at any of either Amie, Silver Rock or Demming projects.

Exploration plans

Antoine Soucy-Fradette, Vice President Exploration, will lead the technical advancement of the Idaho Portfolio. WestGold intends to prioritize the Amie Project as its initial exploration focus and plans to initiate the Project’s maiden drill program based on targets generated through detailed geological mapping, geophysical surveys, and systematic sampling. Reconnaissance programs will also be conducted at the Silver Rock and Demming Projects to evaluate their near-term exploration potential. The Company will provide further updates on its exploration plans and any financing activities in due course.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Darren Lefort, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

The historical information of this news release relating to the Demming and Silver Rock properties is sourced from a government report titled “Site Inspection Report for Abandoned and Inactive Mines in Southern Idaho: Volume III: Miscellaneous Properties, Owyhee County, Idaho” prepared by Earl H. Bennet et al. in 2000 for the Bureau of Land Management.

The securities to be issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

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 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.

For further information, please contact:

James Hocking
Chief Executive Officer & Director
E: investors@westgoldmetals.com

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.

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 statements relating to the Offering, the anticipated size of the Offering, the expected closing of the Offering in one or more tranches, the receipt of all necessary regulatory approvals, the anticipated use of proceeds, the Company’s exploration and acquisition strategy, the advancement of the Company’s mineral projects, and the proposed acquisition and future exploration of the Idaho Portfolio.

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 from those reflected in the forward-looking statements or information, including, without limitation, the risk that the Offering may not be completed on the terms announced or at all; the risk that the Company may not receive all necessary regulatory approvals; the risk that the Company may not complete the proposed acquisition of the Idaho Portfolio; 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 stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks; 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.

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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES