Mr. W. Connor MacNeill reports

WESCAN GOLDFIELDS REPORTS ENCOURAGING DRILL CORE OBSERVATIONS IN FIRST HOLE OF 2026 DRILL CAMPAIGN AT MUNRO LAKE; ASSAYS PENDING

Visible gold has been identified in drill core from hole ML26-005, the first hole of the 2026 drill campaign at Wescan Goldfields Inc.'s 100-per-cent-owned Munro Lake project in Northern Saskatchewan. ML26-005 was drilled to test the North Vein target in the Southeast zone, where the company recently identified visible gold in a quartz vein at surface (see the company's news release dated Oct. 19, 2026). The 2026 drill campaign is continuing (see the company's news release dated Oct. 5, 2026), and the company anticipates completing it in early November.

Highlights:

• Visible gold identified in drill core from hole ML26-005, the first hole of the company's 2026 drill campaign at the Munro Lake project;
• The visible gold occurs as blebs and fine fracture fillings in a narrow sulphide- and diopside-rich calc-silicate shear at 33.4 metres downhole, over a core length of approximately 10 centimetres;
• ML26-005 was drilled to test the North Vein target in the Southeast zone, where the company recently identified visible gold in a quartz vein at surface (see news release dated Oct. 19, 2026);
• ML26-005 intersected a wide zone of high strain, interpreted to be the main shear structure hosting the North Vein and South Vein targets;
• Assays are pending; the company is sampling every hole of the 2026 drill campaign over its full length;
• Munro Lake lies seven kilometres northeast of SSR Mining's Seabee mine and mill complex, Saskatchewan's only producing gold operation.

The visible gold occurs at 33.4 metres downhole, in a narrow sulphide- and diopside-rich calc-silicate shear over a core length of approximately 10 centimetres. Within the shear, the gold is hosted at the margin of a stockwork vein of pyrrhotite, pyrite, quartz and chalcopyrite, where it occurs as blebs and fine fracture fillings in one larger cluster, with smaller clusters of finer grains aligned roughly along the foliation on either side. Very coarse diopside crystals occur within and adjacent to the vein, and the wall rock outside the shear is relatively fresh, with minimal shearing or alteration. The presence of visible gold, while considered encouraging, is not a reliable proxy for assay results: Visible gold is not necessarily representative of the gold content of the interval, and visual observations are not a substitute for laboratory analysis.

ML26-005 intersected a wide zone of high strain that the company interprets to be the main shear structure hosting the North Vein and South Vein targets. Narrow, localized shears occur throughout the hole and consist of either quartz veining or sulphide- and diopside-rich calc-silicate, similar to the shear that hosts the visible gold. The visible gold is not associated with significant quartz veining, and the company interprets the calc-silicate alteration to be related to a nearby quartz vein that the hole did not intersect. ML26-005 was completed at a depth of 233 metres, and assays are pending. Because the distribution of gold can be unpredictable, it is not known which, if any, of the other shears intersected in the hole are gold bearing. To combat this, the company is sampling the entire length of every drill hole of the 2026 drill campaign.

ML26-005 was drilled to test the North Vein target in the Southeast zone, the quartz vein that the company's 2013 drill hole EXML-002 was originally designed to test. Drill holes on the project are numbered sequentially across drill campaigns; holes 001 to 004 were drilled in 2013 (EXML-001 to EXML-004), making ML26-005 the first hole of the 2026 drill campaign. On Oct. 19, 2026, the company reported several grains of visible gold in quartz vein material chiselled from surface at the North Vein target, where the principal vein is exposed over a 25-metre strike length and the vein system is approximately three metres wide at surface. Historical grab samples collected at the showing in 2012 and 2019 returned between 0.77 gram per tonne and 6.79 grams per tonne gold. Assays of the surface samples are pending, and channel sampling across the vein is planned. Structural mapping at the showing measured an average vein plunge of 63 degrees toward an azimuth of 165 degrees (south-southeast), which the company is using to orient its drill holes. ML26-005 was collared approximately 43 metres south of the surface showing and drilled to the northeast at an azimuth of 37 degrees and a dip of minus-50 degrees. The visible gold interval lies approximately 28 metres south-southeast of the surface showing in plan view, at a vertical depth of approximately 26 metres. The second hole of the campaign, ML26-006, tested the same target farther south along strike and downplunge. It intersected the same shear zone, with similar interbanded quartz veining and diopside alteration, and was completed at a depth of 251 metres; assays are pending.

"Identifying visible gold in the first hole of the 2026 drill campaign is an encouraging start," said W. Connor MacNeill, chief executive officer of Wescan. "ML26-005 was drilled to test the North Vein target, where we identified visible gold at surface earlier this month. We are sampling every hole over its full length and look forward to reporting assay results as they are received."

The 2026 drill campaign was originally scheduled to begin in the summer, but its start was moved to the fall because of delays in sourcing a drill and crew, compounded by a forest fire in the area over the summer. Drilling was subsequently interrupted for approximately one week by a mechanical breakdown. The drill has since been repaired and is fully crewed, and drilling is now progressing at a good pace.

Sampling and analytical procedures

Drill core is logged, photographed and sampled at the project. Core is sawn in half; one-half is retained and the other is submitted to Agat Laboratories in Calgary, Alta., for gold analysis by fire assay, with samples containing visible gold analyzed by metallic screen fire assay. Certified reference materials, blanks and duplicates are inserted into the sample stream for quality control.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by John Shmyr, PGeo, 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. 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 they appear.

About Wescan Goldfields Inc.

Wescan Goldfields is a Canadian junior exploration company focused on the exploration and development of gold projects in Northern Saskatchewan. The company holds a 100-per-cent interest in four gold projects: the Munro Lake project, located in the Pine Lake greenstone belt adjacent to the Seabee/Santoy gold camp; and, in Saskatchewan's historic La Ronge gold belt, the Jojay Lake project, which hosts the Jojay gold deposit, the Fork Lake project, which hosts the past-producing Jasper gold mine, and the recently acquired Lindsay Lake project.

The Jojay gold deposit is the subject of a historic 2010 NI 43-101-compliant mineral resource estimate completed by A.C.A. Howe International Ltd., 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 grams per tonne gold (at a 2.0-gram-per-tonne-gold cut-off). The Jasper gold mine was operated by Cameco Corp. in the early 1990s and produced approximately 82,700 ounces of gold from approximately 140,000 tonnes grading 18.9 grams per tonne gold prior to its closure. Shares of Wescan trade on the TSX Venture Exchange under the symbol WGF.

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