Mr. James Hocking reports

WESTGOLD METALS AGREES TO DIVEST ISONEVA OPTION TO JESMOND CAPITAL, COMPLETING TRANSITION TO A FOCUSED NORTH AMERICAN EXPLORER

Westgold Metals Corp. has entered into a binding option acquisition agreement dated Sept. 13, 2026, with Jesmond Capital Ltd., pursuant to which Westgold has agreed to sell, assign and transfer to Jesmond its option to acquire a 100-per-cent undivided interest in the Isoneva gold property in Finland. The Isoneva option was granted to Westgold (then Nordique Resources Inc.) by Gemdale Gold Inc. under an option agreement dated effective June 25, 2025.

The assignment is intended to constitute Jesmond's qualifying transaction under Policy 2.4 of the TSX Venture Exchange, and will complete Westgold's repositioning as a North American precious metals explorer. Since January, 2026, the company has renewed its leadership team, changed its name from Nordique Resources Inc., optioned the Amie, Silver Rock and Demming projects in Owyhee county, Idaho, and is now working toward a maiden drill program.

Transaction terms

Under the agreement, Westgold will sell, assign and transfer to Jesmond the Isoneva option, the technical information it holds in respect of the Isoneva property and the benefit of all qualifying exploration expenditures incurred to date. In consideration, Jesmond will:

• Issue Westgold 1,075,000 common shares of Jesmond at closing, representing approximately 9.9 per cent of Jesmond's issued and outstanding common shares following that issuance and before giving effect to Jesmond's concurrent financing to be completed in connection with its Qualifying transaction;
• Pay Westgold $250,000 in cash on closing, together with reimbursement of the 52,197 euros in exploration expenditures financed by Westgold to satisfy the first $600,000 expenditure requirement under the underlying option agreement;
• Pay Westgold a further $325,000 if and when Jesmond exercises the Isoneva option.

The transaction shares will be held in escrow, with 107,500 released at closing and the remaining 967,500 released in six equal quarterly instalments over the following 18 months. Exercise of the Isoneva option requires Jesmond to complete further exploration expenditures and payments to Gemdale under the underlying option agreement, and there is no assurance that it will do so.

Benefits to Westgold shareholders

• Cash returned to the balance sheet: $250,000 plus reimbursement of 52,197 euros on closing, with a further $325,000 payable if the Isoneva option is exercised, recovering a substantial portion of the option payments and exploration expenditures Westgold has financed at Isoneva;
• Funding obligation removed: Westgold will have no further obligation to finance exploration at Isoneva. The remaining expenditure and payment obligations under the underlying option agreement pass to Jesmond on closing;
• Continued exposure to Isoneva: Westgold will hold approximately 9.9 per cent of Jesmond before giving effect to Jesmond's concurrent financing, so Westgold shareholders retain exposure to exploration success at Isoneva without the company funding it. That interest will be diluted by Jesmond's concurrent financing and any subsequent issuances;
• A single focus: management time and capital are directed entirely to the Idaho portfolio, where the company is completing the surface work required to support its maiden drill program.

CEO comment

James Hocking, chief executive officer and director of Westgold, commented:

"We're very pleased with the outcome of this transaction as it will complete the repositioning we began in January. Isoneva is a credible project, but our strategic focus is now on North America and holding it would mean spending capital and management time we would rather put into the Idaho projects.

"Assigning the Isoneva option allows us to recover a portion of our investment in the project while retaining ongoing exposure through our interest in Jesmond. Jesmond's founding group brings relevant experience in financing and advancing mining projects, including in Finland, and we believe Isoneva will be well positioned to move forward under their stewardship while we further concentrate our efforts on advancing the Idaho projects."

Conditions to closing

Completion of the transaction is subject to a number of conditions, including completion by Jesmond of its qualifying transaction and concurrent financing; receipt of all required exchange, regulatory, and third party approvals and consents, including an acknowledgment from Gemdale as to the status of the underlying option agreement; and the resulting issuer satisfying the exchange's initial listing requirements. Either party may terminate the agreement if closing has not occurred by Dec. 31, 2026.

About the Isoneva property

The Isoneva property comprises three exploration permits, Isoneva, Isoneva 2 and Isoneva 3, in the municipality of Reisjarvi, central Finland. The property was optioned from Gemdale in June, 2025. There are no current mineral resources or mineral reserves defined on the Isoneva property.

About Jesmond Capital Ltd.

Jesmond Capital is a Calgary, Alberta-based, corporation and a capital pool company as defined in the policies of the exchange. Further information regarding Jesmond and the transaction will be set out in Jesmond's disclosure documents filed under its profile on SEDAR+.

About Westgold Metals Corp.

Westgold Metals is a Canadian mineral exploration company focused on the identification, acquisition and advancement of precious metal exploration opportunities in established North American mining districts. The company is building a portfolio of high-quality assets in politically stable, mining-friendly jurisdictions, led by an experienced management team with backgrounds in equity capital markets, commercial development and technical exploration. Westgold's flagship assets are the Amie, Silver Rock and Demming epithermal gold-silver projects comprising the Idaho portfolio in Owyhee county, Idaho, United States. Westgold's common shares are listed on the Canadian Securities Exchange under the symbol WGM, quoted on the OTCQB under the symbol WGMTF, and traded on the Frankfurt Stock Exchange under the symbol V0U.

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