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Westward Gold Inc
Symbol WG
Shares Issued 229,258,083
Close 2026-07-16 C$ 0.135
Market Cap C$ 30,949,841
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Westward Gold plans drilling at Toiyabe Hills

2026-07-20 18:13 ET - News Release

Mr. Andrew Nelson reports

WESTWARD GOLD DETAILS DRILLING PLANS AT EL SEGUNDO TARGET, TOIYABE HILLS PROPERTY, NEVADA

Westward Gold Inc. has provided additional details surrounding its planned phase I drilling campaign at the El Segundo target, one of three target areas slated for testing with reverse circulation (RC) and core drilling in 2026 at the company's Toiyabe Hills property in Lander county, Nevada. This target has been developed over several field seasons through the application of Westward's systematic, multidisciplinary approach to greenfield gold exploration and is now primed for its initial drill test. El Segundo is located approximately four kilometres south-southeast of the SSD target and three kilometres south of the Campfire target; it sits in the footwall of the district-scale north-striking Hilltop structural corridor, and favourable lower-plate carbonate host rocks of the Wenban formation are exposed at surface across most of the target area. Multiple robust data sets support this year's decision to allocate a portion of the company's drilling budget to further advance and define El Segundo, including the following:

  • Surface geochemistry: A large plume of elevated Carlin-suite elements (notably arsenic) lies over and outboard of the target area -- as indicated by a gridded soil survey -- coincident with anomalous gold in rock-chip samples (up to 1.6 grams per tonne gold) and the strongest antimony on the property in rock-chip samples (up to 589 parts per million antimony).
  • Geophysical surveys: Robust geophysical data sets have been acquired through a gravity survey (2024), an airborne magnetic survey (2025) and a controlled-source audio-frequency magnetotelluric (CSAMT) survey (2026) and point to gravity-interpreted alteration (decalcification) in lower-plate carbonate rocks, and strong silicification (and argillic alteration) interpreted from CSAMT data.
  • Anaconda-style mapping: Mapping (1:5000 scale) has identified surface alteration (both decalcification and silicification), northeast-striking and dike-filled fault corridors, and syncline-anticline pairs indicative of compression -- a favourable structural setting for Carlin-style gold exploration.

Robert Edie, vice-president of exploration, noted: "As we've continued to expand our land position and associated property-wide baseline exploration data sets, we fully anticipated that new targets would emerge along the footwall of the district-scale Hilltop corridor, with Westward now controlling 13 kilometres of its strike length. This setting is reminiscent of other major Nevada gold camps -- notably the north area of the Carlin trend where the Post-Gen fault is a major control on mineralization at multiple gold mines. Phase I drilling at El Segundo will be the next step in the advancement of this target area following two years of data acquisition and interpretation by our team. One of the advantages of drilling in this area is that most of the drill holes will collar in lower-plate carbonate rocks, allowing for a more efficient test of regional host strata. We will also have the opportunity to drill the first-ever hole through and across the Hilltop corridor -- and we're all very excited to get a better look at this major structural feature."

Drilling plan

Eight drill pads have been permitted, and construction on the last remaining eastern pads at El Segundo is nearing completion. This target will be tested with a combination of RC and core holes for a total of approximately 6,000 metres, the latter being used primarily to crosscut major structural zones and obtain the best possible geology.

Drill hole depths have been designed with the goal of testing significant vertical extents of both the Wenban formation and underlying Roberts Mountains formation, the two most important host strata in the Cortez district. Real-time analysis of RC chips and drill core at site will determine the ultimate total depth of each hole. Both classic Carlin-style, laterally disseminated gold (along favourable subunits of the Wenban formation, for example) and higher-grade gold within dike margins and fault corridors are being targeted in this campaign. Drill hole azimuths and dips have also been modified as necessary to better intersect subsurface zones of silica alteration (argillic alteration and jasperoids as interpreted by the recently completed CSAMT survey) and potential zones of decalcification as interpreted by residual gravity anomalies.

2026 CSAMT survey

In May, 2026, the company contracted Zonge Geosciences Inc. of Reno, Nev., to conduct a 10-line-kilometre CSAMT survey across two east-west lines spaced 500 metres apart. Following data acquisition, results were interpreted by Jim Wright of J.L. Wright Geophysics in Spring Creek, Nev. -- a renowned geophysicist with over 40 years of expertise within the Carlin and Cortez districts of northern Nevada -- in co-ordination with Westward's team of technical experts. The primary objective of the program was to more accurately delineate structures, lithologies and alteration related to potential mineralization at El Segundo in order to refine discrete drill targets within the broad alteration cell of distinctive Carlin-type geochemistry.

The survey was successful in focusing phase I drilling by resolving zones of alteration and new structural targets. High-angle structures and lithological contacts were identified with greater accuracy, along with multiple zones of alteration. These zones are interpreted as areas of silica alteration -- potentially argillic alteration and/or jasperoid -- and characterized by either high resistivity or extremely high resistivity (greater than 1,000 ohm-metres). Jasperoids and silicification have been identified in surface mapping across some of the target area; however, drilling and additional ground-truthing will provide greater detail regarding the specific nature of these alteration zones. Where possible, drill holes will be positioned to more effectively test these alteration zones, along with previously identified alteration in lower-plate carbonate rocks per the 2024 gravity survey. Of particular interest is a zone of vertically extensive alteration -- identified in the northern CSAMT line -- bounded by major offsetting structures (potentially an altered carbonate horst); this target will be tested from site ES26-A.

In addition to the CSAMT-mapped alteration zones, several other previously understood features are being targeted. These include: (i) structural zones/dike-filled faults; (ii) gravity-interpreted alteration zones; and (iii) geochemical anomalies -- specifically near large-surface plumes of elevated antimony and arsenic (key Carlin pathfinder elements). Drill holes are planned with easterly or westerly dips, with the exception of ES26-B (dipping due north) and ES26-D (dipping to the southwest). Those two holes were specifically designed to test gravity anomalies and interpreted alteration (decalcification) in lower-plate carbonate rocks. Final hole depths will be determined based on real-time feedback in the field.

2026 field season update:

  • Drilling: Core drilling continues while the company awaits delivery of a second rig (RC), expected in a matter of weeks per the latest contractor estimate. The core rig was recently relocated to El Segundo from SSD following the completion of holes T2601 and T2602, two shallower tests designed to fill in gaps in the 3-D model, improve vectoring tools (association between structure type and potential mineralization in the target area), and acclimate the crew and rig before advancing to more challenging -- and deeper -- holes. ES2601 (collared on pad ES26-B) is currently drilling at a depth of 145 metres, targeting a gravity-interpreted zone of alteration in lower-plate carbonate rocks. It is designed to reach a final depth of greater than 600 metres, pending continuing core analysis.
  • Trenching: All three trenches at SSD have now been mapped, with assays for trenches 1 and 3 pending from the lab and sample collection from trench 2 nearing completion. Significant learnings from the mapping and assays (structure attributes) will influence final hole design from certain pads at SSD.
  • Mapping: Anaconda-style mapping (1:5000 scale) across the property is continuing, with approximately 15 square kilometres completed to date -- already qualifying as the most extensive annual campaign in the company's history.
  • Surface geochemistry: Collection and analysis of surface samples will continue throughout the field season, currently 476 of 744 soil samples have been collected within the three designed grids, and collection of up to 1,000 rock-chip samples (including from road/pad cuts) remains continuing, with over 100 submitted for assays to date.
  • Geophysical surveys: The last remaining geophysical survey (stepout gravity over the recent northern land acquisition) is due to be completed this month.

Digital marketing services agreements

The company has engaged Emerging Markets Consulting LLC (EMC) to provide investor relations services for a period of 90 days, and Westward has paid EMC a fee of $150,000 (U.S.) for this engagement period. The services include increasing awareness of the company's activities through EMC's social media channels and facilitating outreach and engagement with the financial community, current shareholders, prospective investors and other key stakeholders. The material disseminated will be generated using publicly available information. EMC and its affiliates currently hold no shares in Westward Gold. EMC may, however, purchase or sell company securities in the open market or through other means based on market conditions and other factors. EMC is at arm's length to Westward and has no other relationship with the company, and neither EMC nor its principal, James Painter, has any interest, directly or indirectly, in the company or its securities, or any right or intent to acquire such an interest, other than as disclosed herein. EMC is located at 390 North Orange Ave., Suite 2300, Orlando, Fla., 32801, and can be contacted at 407-340-0226 or at jamespainter0711@gmail.com.

Additionally, the company has engaged Hillside Consulting and Media Inc., a British Columbia-based firm, to assist in continuing marketing and investor relations efforts, for a period of one week. Westward has paid Hillside a fee of $45,000 (Canadian) plus applicable taxes for this engagement period. Hillside will provide digital marketing services, including SEO (search engine optimization), e-mail and social media outreach, and content creation, including video, in order to increase corporate awareness. The media disseminated will be generated using publicly available information. Hillside and its affiliates currently hold no shares in Westward Gold. Hillside may, however, purchase or sell company securities in the open market or through other means based on market conditions and other factors. Hillside is at arm's length to Westward and has no other relationship with the company, and neither Hillside nor its chief executive officer, Stephen Giberson, has any interest, directly or indirectly, in the company or its securities or any right or intent to acquire such an interest, other than as disclosed herein. Hillside is located at 474 Main St., Penticton, B.C., V2A 5C5, and can be contacted at 250-485-3615 or at hillsideconsultingmedia@gmail.com.

Qualified person

The technical information contained in this news release was reviewed and approved by Mr. Edie, vice-president, exploration, of the company, who is a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Edie is a certified professional geologist (CPG) through the American Institute of Professional Geologists (AIPG).

About Westward Gold Inc.

Westward Gold is a mineral exploration company focused on developing the Toiyabe Hills project, located in the Cortez trend area of Lander county, Nev., and the Coyote and Rossi projects, located along the Carlin trend in Elko county, Nevada. From time to time, the company may also evaluate the acquisition of other mineral exploration assets and opportunities.

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