WEX Western Exploration Inc

Western Exploration (TSXV:WEX) (OTCQX:WEXPF), a Nevada-focused gold and silver exploration company, has released initial assay results from its Phase 1 drill program at Doby George, Nevada. Doby George, one of three main mineral deposits at the company’s 100% owned, 6,000-hectare Aura gold-silver project, located approximately 120 kilometers or 75 miles north of the city of Elko, Nevada, is one of the highest-grade, undeveloped open pit heap leach resources in Nevada.

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The project has a well-established infrastructure including year-round accessibility by highway and county-maintained road and nearby access to water and electricity. The Aura Project is located 32 kilometers north of the Jerritt Canyon mine, which has been in continual operation since 1981.

The deposit is an outcropping, high-grade sediment-hosted mineral deposit, with multiple zones of mineralization identified by drilling in a 1.7 x 0.8 km area. The zone of oxidation extends approximately 150 to 200 meters below surface, while limited deep drilling has encountered unoxidized gold mineralization at depths of over 600 meters below surface.

The Phase 1 drill program, completed between July 26 and September 12, 2022, and designed to evaluate areas within, and adjacent to, the current resource boundary, was comprised of nine large diameter (PQ) core holes. The drill holes were located at eight different drill sites for a total of 1,138 metres at the Doby George deposit.

Holes DGC789 and DGC790, approximately 440 meters apart, were completed in the West Ridge resource area of Doby George, which accounts for approximately 82% of the current mineral resource estimate at Doby George, showed very positive grade distribution when compared to the resource block model. Highlights of Hole DGC789 include an intersection of 20.88 meters of 1.41 grams per tonne and 23.63 meters of 3.27 grams per tonne gold, including 7.32 meters of 5.27 grams per tonne gold. Highlights of Hole DGC790 include an intersection of 54.56 meters of 2.08 grams per tonne gold, including 6.4 meters of 4.70 grams per tonne gold.

Homestake Mining Company initially discovered the Doby George deposit in the mid-1980s. Metallurgical test work completed on oxidized material by Homestake Mining and others, has indicated favorable metallurgy for standard cyanide heap leach processing.

Since that time, 827 drill holes have been completed, totaling 115,197 meters of drilling. This includes 74 drill holes, totaling 22,622 meters that were drilled between 1998 and 2017 by Western Exploration LLC, which has a 25-year history of advancing exploration projects in Nevada as a private company.

In 2017, Agnico Eagle Mines became a partner and has invested more than US$14 million and currently owns approximately 18% and provides technical expertise through a joint technical committee with Western Exploration's management team.

The Aura Project is unique in the junior mining space insofar as resources have been identified in three different deposits, Doby George, Gravel Creek and Wood Gulch. The project is supported by Mineral Resource Technical Report dated October 2021 showing 652,271 gold equivalent ounces in the Indicated category and 665,357 gold equivalent ounces in the Inferred category.

The shares, which began trading on the TSX Venture Exchange on January 19th, are currently trading at $1.49. For more information, please visit the company’s website, www.WesternExploration.com, contact Nichole Cowles, Investor Relations, at 775-240-4172 or by email at NicholeCowles@WesternExploration.com.

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