The metavolcanic rocks of the La Ronge Gold Belt host the majority of the gold mineralization identified within the belt. The Property covers these same La Ronge metavolcanic rocks, which also host the gold mineralization at the Komis Gold Mine**. In addition, the claim covers a prospective geological contact where the metavolcanic rocks meet a large granodiorite intrusive body. Gold-bearing veins in the La Ronge Gold Belt are commonly emplaced along this type of contact, which marks a significant rheological contrast, or plane of weakness, that can focus mineralizing fluids and localize gold deposition. The interpreted geology of the Property, including the prospective contact, is shown in Figure 2.
The Company intends to prospect the Property going forward. A forest fire burned through the area last summer, removing vegetation and ground cover, and the Company anticipates significant rock exposure that will aid prospecting and geological mapping across the claim. The Property also benefits from excellent access, located only 1.8 kilometres from the Komis Mine access road and approximately 4 kilometres from Highway 102.
The combination of favourable host rocks, a prospective intrusive contact, enhanced rock exposure and excellent access leads the Company to consider the Property to be highly prospective for gold mineralization.
** Exploration on adjacent or nearby properties does not guarantee that similar mineralization exists on a specific property. |
Private Placement
Further to the Company's press releases dated June 18, 2026, June 15, 2026, June 4, 2026 and April 30, 2026 with respect to the previously announced non-brokered private placement of units of the Company (the "Units") at a price of $0.22 per Unit, the Company also announces that it has paid additional finder's fees in an aggregate amount of: (i) $12,600, in cash, and (ii) issued an aggregate of 57,272 common share purchase warrants to certain eligible finders in accordance with the policies of the TSX Venture Exchange.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, P.Geo., of Dahrouge Geological Consulting Ltd., a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan. Mr. Shmyr is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Shmyr has verified the data disclosed in this news release and consents to the inclusion of the matters based on his information in the form and context in which it appears.
About Wescan Goldfields Inc.
Wescan Goldfields Inc. is a Canadian junior exploration company focused on the exploration and development of gold projects in Saskatchewan's historic La Ronge Gold Belt. The Company holds a 100% interest in four gold projects: the newly staked Lindsay Lake Project, the Munro Lake Project, the Jojay Lake Project, which hosts the Jojay gold deposit, and the Fork Lake Project, which hosts the past-producing Jasper gold mine.
The Jojay gold deposit is the subject of a 2010 NI 43-101 compliant mineral resource estimate completed by A.C.A. Howe International Limited, comprising an Indicated Resource of 420,000 tonnes grading 3.7 g/t gold and an Inferred Resource of 630,000 tonnes grading 4.3 g/t gold (at a 2.0 g/t gold cut-off). The Jasper gold mine was operated by Cameco Corporation in the early 1990s and produced approximately 155,000 tons at a grade of approximately 18.5 g/t gold prior to its closure. The locations of the Company's projects and land package are shown in Figure 3. Shares of Wescan trade on the TSX Venture Exchange under the symbol "WGF".
Important Information Regarding Forward-Looking Statements
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "plan," "continue," "estimate," "expect," "may," "will," "intend," "could," "might," "should," "believe," "scheduled," "to be," "will be" and similar expressions. Forward-looking statements in this news release are based upon the opinions and expectations of management of the Company as of the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements in this news release include, but are not limited to, statements relating to the staking of the Property, the Company's exploration and prospecting plans for the Property, the geological prospectivity of the Property and its host rocks and structures, and the anticipated benefits of recent forest fire activity on rock exposure. These forward-looking statements are subject to numerous risks and uncertainties, including those described in the publicly filed documents of the Company, available on SEDAR+ at www.sedarplus.ca. Such risks and uncertainties could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this news release, and such forward-looking statements should not be interpreted or regarded as guarantees of future outcomes.
Forward-looking statements are based on the Company and its management's good-faith assumptions relating to the financial, market, regulatory, and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward-looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by those or other factors not foreseen or foreseeable by the Company or management, or beyond the Company's control.
The forward-looking statements contained in this news release are made as of the date hereof, and the Company does not undertake any obligation to update or revise any of the included forward-looking statements, except as required by applicable securities laws in force in Canada. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wescan Goldfields Inc.
Contact Information: For further information please contact: W. Connor MacNeill, Chief Executive Officer, Email: [email protected], Phone: (306) 244-5480
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