Mr. W. Connor MacNeill reports

WESCAN GOLDFIELDS INC. COMPLETES THIRD AND FINAL TRANCHE OF PRIVATE PLACEMENT

Wescan Goldfields Inc. has closed the third and final tranche of its previously announced non-brokered private placement of units of the company at a price of 22 cents per unit for gross proceeds of $110,000 through the issuance of 500,000 units, which was initially announced on April 30, 2026, and subsequently upsized and extended on June 15, 2026. The company paid no finders' fees paid in connection with the final tranche.

In aggregate, the offering comprised gross proceeds of $2,515,532 through the issuance of 11,434,237 units. Each unit consists of one common share in the capital of the company and one-half common share purchase warrant of the company. Each whole warrant will entitle the holder thereof to purchase one common share at an exercise price of 35 cents for a period of 24 months from the date of issuance thereof.

Aggregate finders' fees in connection with the offering were paid by the company in the amount of $125,145 in cash and through the issuance of an aggregate of 568,840 common share purchase warrants, with each whole finder warrant exercisable for one full common share at a price of 35 cents per share for 24 months from the date of issuance thereof. All securities issued pursuant to the offering are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation and the policies of the TSX Venture Exchange. Completion of the offering remains subject to final acceptance of the exchange.

The company intends to use the proceeds from the offering to support its planned 2026 exploration programs and advance the next phase of exploration across its highly prospective Saskatchewan gold project portfolio.

About Wescan Goldfields Inc.

Wescan Goldfields is a Canadian junior exploration company focused on the exploration and development of gold projects in Saskatchewan's La Ronge gold belt. Shares of Wescan trade on the TSX-V under the trading symbol WGF.

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