Westward Gold Announces $5M Non-Brokered Private Placement Financing, with $2.5M Lead Order from New Cornerstone Investor & $1M from Current Strategic Investor Crescat Capital LLC

(TheNewswire)

Vancouver, British Columbia, September 23, 2025 – TheNewswire - Westward Gold Inc. (CSE: WG, OTCQB:WGLIF, FSE: IM50) ( “Westward” or the “Company” ) is pleased to announce that it intends tocomplete a non-brokered private placement (the “Offering” ) of up to 45,454,545units (each, a “Unit” ) ata price of C$0.11 per Unit (the “Offering Price” ), for aggregate gross proceeds to theCompany of approximately C$5,000,000. Each Unit will be comprised ofone common share of the Company (each, a “Common Share” ) and one commonshare purchase warrant (each, a “Warrant” ). Each Warrant will entitle the holder thereofto purchase one Common Share of the Company at a price of C$0.15 for aperiod of 24 months following the closing date of the Offering.

The Company is also pleased to welcome its newest major shareholder,Concept Capital Management Ltd. ( “Concept Capital” ), who will be subscribing for22,727,272 Units for gross proceeds of approximately $2,500,000.Additionally, existing strategic shareholder Crescat Capital LLC( “Crescat” ) will besubscribing for 9,090,909 Units for gross proceeds of approximately$1,000,000.

The net proceeds from the Offering willbe used primarily for (i) an expanded drilling program at Westward’sflagship Toiyabe Hills Property in Nevada, where a 5,000-meter programacross up to 10 holes is already underway testing the Company’sCampfire Target Complex ( see pressreleases dated July 8, August 11, and September 18, 2025, foradditional information ), and (ii) general working capitalpurposes. Closing of the Offering is subject to receipt of allnecessary regulatory approvals, including from the Canadian SecuritiesExchange (the “CSE” ). TheCommon Shares and Warrants issued in relation to the Offering will besubject to a hold period of four months and one day, in accordancewith applicable securities laws. In connection with the Offering, theCompany expects to pay finder’s fees up to 6% of the gross proceedsof the Offering, which may be paid in Units issued at the OfferingPrice, and to issue finder’s warrants up to 6% of the number ofUnits issued in the Offering, which will be exercisable at a price of$0.13 per Common Share for a period of 24 months.

Andrew Nelson, Westward CFO, commented: “We’re thrilled to welcomeConcept Capital as a new cornerstone investor in Westward, at animportant inflection point for our Company. This new capital – inaddition to continued support from existing strategic shareholderCrescat – will allow us to keep the drills turning at Toiyabe Hillsfor as long as weather permits. We will be in a position of greaterstrength both in terms of data acquired and our treasury as we moveinto the winter months.”

The Offering will not result in the creation of a new Control Personof the Company (as such term is defined in the policies of the CSE),as the Warrants are not exercisable if such exercise would result inthe holder, together with any person or company acting jointly or inconcert with the holder, owning, or exercising control or discretion,over 20% or greater of the issued and outstanding shares of theCompany.

Certain insiders of the Company intend to acquire Units in theOffering. The participation by such insiders in the Offering willconstitute a “related party transaction” as defined underMultilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ( “MI 61-101” ). Suchparticipation is expected to be exempt from the formal valuation andminority shareholder approval requirements of MI 61-101, based on thefact that neither the anticipated fair market value of the Unitssubscribed for by the insiders, nor the consideration for the Units tobe paid by such insiders, will exceed 25% of the Company’s currentmarket capitalization.

The securities being offered have not, nor will they be registeredunder the United States Securities Act of 1933, as amended, and maynot be offered or sold within the United States or to, or for theaccount or benefit of, U.S. persons in the absence of U.S.registration or an applicable exemption from the U.S. registrationrequirements. This press release shall not constitute an offer to sellor the solicitation of an offer to buy nor shall there be any sale ofthe securities in the United States or in any other jurisdiction inwhich such offer, solicitation or sale would be unlawful.

About Westward Gold

Westward Gold is a mineral exploration company focused on developingthe consolidated Toiyabe Hills Project located in the Cortez Hillsarea of Lander County, Nevada, and the Coyote and Rossi Projectslocated along the Carlin Trend in Elko County, Nevada. From time totime, the Company may also evaluate the acquisition of other mineralexploration assets and opportunities.

For further information contact:

Andrew Nelson
Chief Financial Officer
Westward Gold Inc.

+1 (604) 828-7027
andrew@westwardgold.com

www.westwardgold.com

The Canadian Securities Exchange hasneither approved nor disapproved the contents of this news release.The Canadian Securities Exchange does not accept responsibility forthe adequacy or accuracy of this news release.

This news release contains orincorporates by reference “forward-looking statements” and“forward-looking information” as defined under applicable Canadiansecurities legislation. All statements, other than statements ofhistorical fact, which address events, results, outcomes, ordevelopments that the Company expects to occur are, or may be deemed,to be, forward-looking statements. Forward-looking statements aregenerally, but not always, identified by the use of forward-lookingterminology such as "expect", "believe","anticipate", "intend", "estimate”,“potential”, “on track”, “forecast","budget", “target”, “outlook”, “continue”,“plan” or variations of such words and phrases and similarexpressions or statements that certain actions, events or results“may”, “could”, “would”, “might” or “will” betaken, occur or be achieved or the negative connotation of suchterms.

Such statements include, but may notbe limited to, information as to completion of the Offering, paymentof finder’s fees, use of proceeds and other matters relating to theOffering, strategy, plans or future financial or operatingperformance, such as the Company’s expansion plans, projecttimelines, expected drilling targets and results, and other statementsthat express management’s expectations or estimates of future plansand performance.

Forward-looking statements orinformation are subject to a variety of known and unknown risks,uncertainties and other factors that could cause actual events orresults to differ from those reflected in the forward-lookingstatements or information, including, without limitation, the need foradditional capital by the Company through financings, and the riskthat such funds may not be raised; the speculative nature ofexploration and the stages of the Company’s properties; the effectof changes in commodity prices; regulatory risks that development ofthe Company’s material properties will not be acceptable for social,environmental or other reasons, availability of equipment (includingdrills) and personnel to carry out work programs, that each stage ofwork will be completed within expected time frames, that currentgeological models and interpretations prove correct, the results ofongoing work programs may lead to a change of exploration priorities,and the efforts and abilities of the senior management team. This listis not exhaustive of the factors that may affect any of theCompany’s forward-looking statements or information. These and otherfactors may cause the Company to change its exploration and workprograms, not proceed with work programs, or change the timing ororder of planned work programs. Additional risk factors and detailswith respect to risk factors that may affect the Company’s abilityto achieve the expectations set forth in the forward-lookingstatements contained in this news release are set out in theCompany’s latest management discussion and analysis under “Risksand Uncertainties”, which is available under the Company’s SEDAR+profile at www.sedarplus.ca. Although the Company has attempted toidentify important factors that could cause actual results to differmaterially, there may be other factors that cause results not to be asanticipated, estimated, described or intended. Accordingly, readersshould not place undue reliance on forward-looking statements orinformation. The Company’s forward-looking statements andinformation are based on the assumptions, beliefs, expectations, andopinions of management as of the date of this press release, and otherthan as required by applicable securities laws, the Company does notassume any obligation to update forward-looking statements andinformation if circumstances or management’s assumptions, beliefs,expectations or opinions should change, or changes in any other eventsaffecting such statements or information.

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