Mr. Nader Vatanchi reports
WEST MINING PROVIDES CORPORATE UPDATE
West Mining Corp. has provided a corporate update respecting certain company matters. First, West has appointed Rachit "Shaun" Saini to company's board of directors. Mr. Saini has over 10 years of experience helping businesses scale their operations to improve customer satisfaction and drive revenue growth. His expertise lies in creating innovative solutions that address complex business challenges and has a proven record of delivering measurable results. Mr. Saini has also successfully raised significant capital for various start-up ventures.
West also announces that the option agreement with Upside Gold Corp. dated as of Jan. 20, 2025, pursuant to which West granted Upside an option to acquire a 100-per-cent interest in and to the company's Kena property (subject to certain underlying net smelter return royalties), has been amended.
Under the amended Upside option agreement, the aggregate cash payments ($2-million), share issuances (aggregate deemed value of $3-million of Upside shares) and exploration expenditures ($3.5-million on or before Jan. 20, 2028) are unchanged. However, the timing of certain of the cash payments and share issuances have changed, with the amended timing being as follows:
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Aggregate cash payments of $2-million: $398,750 on or before Sept. 1, 2025; an additional $851,250 on or before Jan. 20, 2027; and an additional $750,000 on or before Jan. 20, 2028;
- Issuance of an aggregate of $3-million worth of common shares of Upside to West: 100,000 Upside shares at a deemed price of 20 cents per share, having an aggregate deemed value of $20,000 on Sept. 1, 2025;
an additional $500,000 worth of shares on or before Jan. 20, 2026; an additional $980,000 worth of shares on or before Feb. 19, 2026;
an additional $500,000 worth of shares on or before Jan. 20, 2027; and an additional $1-million worth of shares on or before Jan. 20, 2028).
The company also advises that it has relinquished its option to acquire two mineral claims pursuant to an option agreement dated as of Oct. 15, 2024 (see the company's news releases dated Oct. 15 and Oct. 21, 2024, and April 16, 2025, for further details). West confirms that, despite this surrender of its option to these two ancillary claims, the company continues to hold a 100-per-cent interest in and to the mineral claims comprising its Junkers property in north-central British Columbia and its Spanish Mountain West property in central British Columbia.
About
West
Mining
Corp.
West Mining is a mineral exploration company currently exploring for copper, gold and silver on its 100-per-cent-owned Junkers property in north-central British Columbia and its 100-per-cent-owned Spanish Mountain West property in central British Columbia. West Mining also holds a 100-per-cent interest in the Kena property, which it has optioned to Upside Gold Corp.
We seek Safe Harbor.
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