Western Metallica Resources corrects consolidation disclosure

Canada NewsWire TORONTO , May 15, 2026 /CNW/ - Western Metallica Resources Corp. (TSXV: WMS) (" Western Metallica " or the " Company ") provides correction to its press release titled "Western Metallica Announces Consolidation and Shares-for-Debt Transaction" issued on May 14, 2026 (the " Initial Press Release "). The Initial Press Release incorrectly stated the proposed consolidation ratio of the Company's common shares (the " Common Shares "). The correct consolidation ratio is one (1) post-consolidation Common Share for every three (3) pre-consolidation Common Shares.

In addition, the Initial Press Release incorrectly stated that Mr. Greg Duras had advanced an aggregate of $350,010 in cash under a loan agreement dated January 24, 2025. The correct aggregate amount advanced by Mr. Duras under such loan agreement is $290,010. This press release should be read in conjunction with the Initial Press Release.

The corrections described in this press release do not change any other information reported in the Initial Press Release. About Western Metallica Resources Corp. Western Metallica is a British Columbia company with its head office in Toronto, Ontario. Western Metallica is in the business of mineral resource exploration and development, its principal asset is its 100% owned Penedela Gold Property in the "Navelgas Gold Belt" in Asturias, Spain.

Western Metallica also has an interest in two other Spanish gold projects in the "Navelgas Gold Belt" in Asturias (Valledor and Sierra Alta) and one project located in Andalucia (Nueva Celti). Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Western Metallica Resources Corp. Forward looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The forward-looking information contained in this press release, includes, but is not limited to, completion and timing of the Consolidation and the Debt Settlement and approval thereof by the TSXV and the Company's shareholders, the expected benefits of the Consolidation and the Debt Settlement and the Company's future plans.

Although Western Metallica Resources Corp. believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Western Metallica Resources Corp. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. This News Release contains forward-looking statements.

In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Western Metallica Resources Corp. View original content: http://www.newswire.ca/en/releases/archive/May2026/15/c2970.html Canada Newswire May 15, 2026 - 1:52 PM PDT News by QuoteMedia www.quotemedia.com