WestGold Metals acquires option for 90% of three Idaho projects

  Vancouver, British Columbia – May 14, 2026 - TheNewswire – WestGold Metals Corp. (“ WestGold ”, or the “ Company ”) (CSE: WGM; OTCQB: WGMTF; FSE: V0U) is pleased to announce that it has entered into a mineral property option agreement (the “ Option Agreement ”) with Silver Rock Resources, Inc. (the “ Optionor ”), a wholly-owned subsidiary of IDEX Metals Corp. (TSX-V: IDEX) (“ IDEX ”), pursuant to which WestGold has been granted an exclusive option (the “ Option ”) to acquire a 90% interest in three precious and base metal exploration properties located in the State of Idaho, USA: the Amie Project, the Silver Rock Project, and the Demming Project (together, the “ Idaho Portfolio ” or the “ Properties ”). The Idaho Portfolio is located in one of Idaho’s most historically significant and underexplored precious metal districts, the Owyhee District in southwest Idaho. The Option Agreement marks WestGold’s entry into North American precious metals exploration, consistent with the Company’s stated strategic focus announced in connection with its name change in March 2026.

Strategic context Since the appointment of the Company’s Chief Executive Officer, James Hocking, in January 2026, WestGold has been systematically building the management capability and technical expertise required to pursue high-quality mineral exploration assets in North America. The Company’s recently appointed Vice President Exploration, Antoine Soucy-Fradette, brings a track record that includes contributing to the discovery and delineation of the Leviathan copper-molybdenum porphyry system at Hercules Metals Corp. and the advancement of Talisker Resources’ maiden 1.6-million-ounce gold inferred resource at the historic Bralorne Mine in British Columbia. The addition of Tom Lee to the Board of Directors in April 2026, with over a decade of institutional capital markets experience and direct involvement in over $1 billion in transactions across Canada and the United States, further strengthens WestGold’s capacity to finance and advance its exploration pipeline.

The Idaho Portfolio represents the first concrete step in WestGold’s North American growth strategy, targeting well-understood deposit types in established mining districts with proven infrastructure access and clear drill-ready upside. CEO comment “Acquiring an option on the Idaho Portfolio is a defining moment for WestGold. These three properties sit in some of Idaho’s most prolific and historically underexplored precious metal districts, in the shadow of a 2.9-million-ounce gold deposit at DeLamar, and yet they’ve seen virtually no modern systematic exploration.

The Idaho Portfolio, and in particular Amie, represents the kind of opportunity we’ve been looking for; a technically compelling entry point in a jurisdiction investors understand, where we can rapidly advance to drill-ready targets. With Antoine leading our technical team, we’re well positioned to move quickly and create value for shareholders”. James Hocking, CEO & Director, WestGold Metals Corp. Terms of the Option Agreement Pursuant to the Option Agreement, WestGold may acquire a 90% undivided interest in the Properties (free and clear of all encumbrances, other than a net smelter returns royalty and certain permitted encumbrances) by satisfying the following conditions: (a) Share Consideration: issuing 5,737,000 common shares of WestGold (the “ Consideration Shares ”) to the Optionor on the Effective Date, at a deemed price per share equal to the price per share in the concurrent equity financing (the “ Equity Financing ”), if applicable, or otherwise at the 20-trading-day volume weighted average price of WestGold’s common shares immediately preceding the Effective Date; (b) Cash Payment: paying the Optionor CAD$100,000 within 30 business days of the Effective Date; and (c) Exploration Expenditures: incurring a minimum of CAD$5,000,000 in aggregate exploration expenditures on the Properties over a three-year period, as follows: (i) CAD$1,000,000 by the first anniversary of the Effective Date; (ii) a cumulative CAD$3,000,000 by the second anniversary; and (iii) a cumulative CAD$5,000,000 by the third anniversary (the “ Option Period ”).

Upon full exercise of the Option, the parties will be deemed to have formed a joint venture, with WestGold holding a 90% participating interest and the Optionor retaining a 10% carried interest until the commencement of commercial production. WestGold will serve as operator. A 1.5% net smelter returns royalty will be granted to the Optionor on exercise of the Option, which WestGold may reduce to 1.0% at any time by payment of CAD$2,000,000.

Closing of the Option Agreement is subject to the satisfaction of customary conditions precedent, including: (i) acceptance by the CSE and TSX-V of the transactions contemplated by the Option Agreement; and (ii) completion by WestGold of the Equity Financing on terms satisfactory to WestGold. The Effective Date will be two business days following satisfaction of these conditions. Overview of the Idaho Properties The three properties comprising the Idaho Portfolio cover a combined 79 unpatented lode mining claims on 660.5 hectares of BLM-administered lands, spanning two distinct geological settings with strong historical mining pedigree and significant modern exploration upside.

Amie Project, epithermal Au-Ag, Owyhee County, Idaho The Amie Project is WestGold’s flagship asset within the Idaho Portfolio and the Company’s primary near-term exploration focus. The property comprises 53 unpatented lode mining claims covering approximately 392.79 hectares in Owyhee County, southwest Idaho, located approximately 70 km southwest of Mountain Home, accessible year-round by vehicle via paved State Highway 78 and secondary gravel roads. The Amie Project is situated on the northeastern flank of the Owyhee Mountains, at the margin of the Snake River Plain, within the same southeast-trending Miocene-age epithermal gold-silver belt that hosts Integra Resources’ DeLamar Project, a past-producing mine with a current measured and indicated resource of approximately 2.9 million ounces of gold and 144 million ounces of silver (Integra Resources, February 2026 feasibility study).

DeLamar is located approximately 30 miles northwest of the Amie Property. Physical evidence of historical activity on the Amie Property includes 11 adits, 4 shafts, and 46 test pits across the property, including the past-producing Amie No. 1 and No. 2 shafts, the Big Shot Mine, and the Roadside Mine. Since acquiring the property in 2021, IDEX conducted a systematic reconnaissance exploration program comprising soil geochemistry, rock chip sampling, and spectral mineralogy analysis: Soil Geochemistry: 984 soil samples on a 100 m × 50 m grid across approximately 80% of the property returned anomalous gold, silver, lead, arsenic and antimony, with distinct mineralized trends interpreted to reflect pre-existing fault structures.   Spectral Mineralogy: 58 rock samples analyzed by short-wave infrared spectroscopy returned mineral assemblages consistent with an intermediate-sulfidation epithermal environment possibly transitioning to a low-sulfidation environment, the same deposit classification characteristic of the broader Silver City-DeLamar region.   Silver Rock Project, epithermal Ag-Au, Owyhee County, Idaho The Silver Rock Project is located in Owyhee County, southwest Idaho, within the same Miocene-age epithermal belt as the Amie Project.

The property hosts a high-grade silver system with multi-phase, northwest-trending epithermal veins, and historical infrastructure including 8 adits and 15 pits. Elevated pathfinder elements (mercury, arsenic, antimony) support the epithermal signature. The property has received no modern systematic exploration or drilling.

Demming Project, epithermal Au-Ag, Owyhee County, Idaho The Demming Project is located in Owyhee County, southwest Idaho. The property hosts a vertical Au-Ag quartz fissure vein system extending over 1,000 feet in strike length, averaging 6–10 feet in width, associated with a historic mine that operated a 100-ton-per-day flotation mill with approximately 8,000 feet of underground development. Dozens of additional parallel veins remain undrilled, extending along a 20-mile structural belt.

A stockpile of mineralized material remains on site. There are no current mineral resources defined at any of either Amie, Silver Rock or Demming projects. Exploration plans Antoine Soucy-Fradette, Vice President Exploration, will lead the technical advancement of the Idaho Portfolio.

WestGold intends to prioritize the Amie Project as its initial exploration focus and plans to initiate the Project’s maiden drill program based on targets generated through detailed geological mapping, geophysical surveys, and systematic sampling. Reconnaissance programs will also be conducted at the Silver Rock and Demming Projects to evaluate their near-term exploration potential. The Company will provide further updates on its exploration plans and any financing activities in due course.

Qualified Person The scientific and technical information in this news release has been reviewed and approved by Darren Lefort, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“ NI 43-101 ”). The historical information of this news release relating to the Demming and Silver Rock properties is sourced from a government report titled “Site Inspection Report for Abandoned and Inactive Mines in Southern Idaho: Volume III: Miscellaneous Properties, Owyhee County, Idaho” prepared by Earl H. Bennet et al. in 2000 for the Bureau of Land Management. About WestGold Metals Corp. WestGold Metals Corp. 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 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. For more information, investors are encouraged to review the Company’s public filings available at www.sedarplus.ca .

For further information, please contact: James Hocking Chief Executive Officer & Director E: investors@westgoldmetals.com Forward-looking statements This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed, to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as  "anticipate," "expect," "suggest," "plan," "believe," "intend,”, “intention” "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions.

Forward-looking statements in this news release include statements relating to stock exchange approvals and acquisition and future exploration on the Properties. Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Additional risk factors and details with respect to risk factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company’s latest management discussion and analysis under “Risks and Uncertainties”, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.

Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. Cautionary note regarding historical information Certain information in this news release references historical exploration results and historical production records.

This historical information has not been independently verified by WestGold and is based on reports prepared by third parties prior to WestGold’s involvement with the Properties. It is presented for geological context only and should not be relied upon as representative of mineralization that may be found or mined on the Properties. Rock chip and grab samples described herein are selective samples and are not representative of any particular rock volume or in situ grade.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.   Copyright (c) 2026 TheNewswire - All rights reserved. TheNewsWire May 14, 2026 - 4:30 AM PDT News by QuoteMedia www.quotemedia.com