Westward Gold Closes $5 Million Private Placement, Welcomes New Strategic Shareholder

October 8, 2025 – Leads & Copy —Westward Gold Inc. has closed its previously announced non-brokered private placement, issuing 45,454,544 units at C$0.11 per unit, raising approximately C$5,000,000.

Each unit includes one common share and one common share purchase warrant, with each warrant allowing the holder to purchase one common share at C$0.15 for 24 months following the offering's closing date.

Concept Capital Management Ltd. has become a new strategic shareholder, subscribing for 22,727,272 units for approximately $2,500,000, representing a 9.9% post-offering basic ownership interest.

Existing strategic shareholder Crescat Capital LLC, through Crescat Portfolio Management LLC, subscribed for 9,090,910 units for approximately $1,000,000, increasing its post-offering basic ownership to approximately 12.1%.

The net proceeds will be used primarily for an expanded drilling program at the Toiyabe Hills Property in Nevada and for general working capital purposes.

In connection with the Offering, an aggregate total of C$14,190 in cash finder’s fees were paid, 1,492,636 finder’s warrants (the “Finder’s Warrants”) were issued, and 1,363,636 Units (the “Finder’s Units”) were issued to qualified finders.

Quinton Hennigh, PhD, Westward Chairman, commented: “Westward’s execution of the first drill program at the well-defined Campfire Target Complex has exceeded expectations thus far. We’ve managed to get holes down to considerable depth, at direct drilling costs that are under budget – allowing us to consistently test thick sections of the lower-plate carbonate host rocks over a large surface area. Observations from the RC cuttings to date point to significant, vertically-extensive Carlin-style alteration, providing proof that a very robust hydrothermal system underlies much of the target area. The last thing the Company wanted to do at this point was take our foot off the gas, and with this capital we’ll now be able to extend drilling for as long as weather permits.”

Certain insiders of the Company acquired Units in the Offering, for an aggregate total of 10,195,455 Units and gross proceeds of approximately $1,121,500 (including $1,000,000 invested by Crescat).

Andrew Nelson Chief Financial Officer Westward Gold Inc. +1 (604) 828-7027 andrew@westwardgold.com

Source: Westward Gold Inc.