Mr. Ross McLellan reports

WESTERN GOLD PROVIDES EXPLORATION AND CORPORATE UPDATE

Western Gold Exploration Ltd. has provided an update on the progress of its Caledonian gold project drilling campaign and a general corporate update. The Caledonian gold project is held through the Glen Lyon joint venture (the JV), a joint venture between the company, which holds a 90-per-cent interest, and Acrux Gold, which holds a 10-per-cent interest and owns the Cononish mine, Scotland's only producing gold and silver mine.

Exploration and drilling progress

Drilling at the Caledonian gold project is progressing as planned. To date, approximately 650 metres of diamond drilling has been completed across four holes (GLDD26_001 to GLDD26_004) at drill pad 1, located at Coire a' Ghabhalach, forming part of the initial program outlined in the company's June 29, 2026, news release. That program is planned to comprise a minimum of eight diamond drill holes totalling at least 1,500 metres, targeting the highest-priority prospects identified within the Lyon licence area. All holes are being drilled using NQ diameter core, with drilling equipment mobilized by helicopter given the steep and remote terrain. The program continues to be conducted by Mineral Exploration Drilling Ltd., an experienced diamond drilling contractor.

Drilling has now commenced at drill pad 2, located at the Creag Sheileach prospect, as the program advances to its next target area. Across the program, initial core logging and assay results from drill pad 1 are anticipated in late Q3 2026, with full results from the program expected through Q4 2026.

The company continues to advance regional exploration across the JV area, with company geologists collecting drainage, rock chip and soil samples on a continuing basis. Results will be disclosed to the market upon receipt of assay data.

Corporate update

John Thomson has been appointed to the company's audit committee effective Aug. 27, 2026. Mr. Thomson joined the company as a director on May 29, 2026. As the former CFO of Kirkland Lake Gold during its important years of strategic exploration investment and growth, and as a resident of Scotland, Mr. Thomson will strengthen the audit committee during the company's next phase of growth.

The company's financial statements and MD&A (management's discussion and analysis) for the three and six months ended June 30, 2026, have been filed and are available on the company's website and on SEDAR+.

About Western Gold Exploration Ltd.

The company is a mineral exploration company that is listed on the TSX Venture Exchange under the symbol WGLD. The company is focused on the exploration of gold, silver and critical minerals in Scotland.

In November, 2025, Western Gold formed the Glen Lyon joint venture (the JV) with Acrux Gold Ltd. to explore for gold, silver and critical minerals as part of the Caledonian gold project in central Scotland. The JV has applied for two Crown Estates Mines royal option agreements (exploration licences) across the Tyndrum mineral district, specifically the Orchy and Lyon licence areas, which form the Caledonian gold project. The company also operates at the Lorne project, which includes both Lagalochan and Ardlochan prospects, and are located in the highly prospective Lorne porphyry district of the wider Caledonian belt.

Review by qualified person

David Pym (CGeol), a consultant of the company, is the qualified person (as defined by National Instrument 43-101) who supervised, verified, and approved the scientific and technical disclosure in this press release on behalf of the company.

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