Vancouver, British Columbia – TheNewswire -- January 18, 2024 – Westward Gold Inc. (CSE:WG) (OTC:WGLIF) (FSE:IM50) (“Westward” or the “Company”) is pleased to announce results from its regional rock chip sampling program completed in late 2023. A total of 353 samples were collected covering the Company’s consolidated land position along the Cortez Trend, made up of the Toiyabe, Turquoise Canyon, and East Saddle Projects in Lander County, Nevada (collectively, the “Properties”). Gold and multi-element assay results will be analyzed in order to further define priority areas for continued exploration (including detailed mapping, geophysical surveys, and eventual drilling).

The results demonstrate that Carlin-type alteration is widespread on Westward’s Properties, and continues to the east and south of known mineralization at the Toiyabe Project, onto the Turquoise Canyon and East Saddle Projects. This work further validates the need for aggressive exploration of those projects, which have seen little to no known drilling in the past. The rock chip sample location distribution and gold assay value ranges (expressed in ppb Au) are displayed in Figure 1 below.

 Figure 1: Rock Chip Sample Distribution & Gold Assay Ranges (ppb Au)

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Notable results and locations from the East Saddle dataset are shown in Table 1 and Figure 2 below, with the highest reported value for each element highlighted. The samples contain elevated values of gold, arsenic, mercury, antimony, thallium, and selenium – similar trademarks of Carlin-type deposits in the region. One notable sample returned 253 ppb Au from an upper plate siliceous chert and mudstone outcrop with abundant quartz veining and oxidation, key alteration features in Carlin-type systems. This sample also contained 782 ppm As (arsenic), a pathfinder element commonly associated with gold deposition. Two nearby samples returned gold values of 82 and 53 ppb, respectively, both in upper plate siliciclastic outcrops; these three samples coincide with a prominent gravity embayment from the Company’s geophysical dataset (see Figure 3). A gravity embayment occurs when there are significant changes in density over short distances, and relates to alteration of carbonate rocks under cover (commonly decalcification). Similar prospective outcrops for 900 meters eastwards were not sampled in this program and will be followed up on in 2024.

Table 1: Notable Assay Results from East Saddle Project

Figure 2: Location of Notable East Saddle Samples

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Figure 3: Horizontal Gradient of Gravity, Notable Gold / Arsenic & Associated Gravity Embayment

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An additional area of importance defined by the sampling program at the East Saddle Project is highlighted in Figures 4 and 5 below. Geochemical assay results including gold, arsenic, mercury, and antimony delineate a corridor of anomalies spanning 2,500 meters. Anomalous results are dominantly found within prospective lower plate limestone, and are slated for follow-up work in 2024.

Figure 4: Notable Prospective Area (East Saddle Project); Sample Arsenic Value Ranges (ppm)

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Figure 5: 2,500-Meter Trend Defined by Geochemical Anomalies at East Saddle Project

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Notable results and locations from the Turquoise Canyon dataset are shown in Table 2 and Figure 6 below, with the highest reported value for each element highlighted. The samples contain elevated values of gold, silver, arsenic, mercury, antimony, and selenium – similar trademarks of Carlin-type deposits in the region. Some samples contain elevated copper and zinc, which correlate to turquoise occurrences on this property. The highlighted gold value (71 ppb Au) was returned from a sample collected from a historical turquoise prospect (see Figure 7 below); this sample also contained 85 ppm silver, and over 1% copper. Three additional samples in the area returned copper values of >1%, 0.20%, and 0.21% respectively. This area is slated to be followed up on with detailed mapping and further sampling in 2024.

Table 2: Notable Assay Results from Turquoise Canyon Project

Figure 6: Location of Notable Turquoise Canyon Samples

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Figure 7: TC-RE-061-RK (71 ppb Au, 85 ppm Ag, >1% Cu)

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Another area of note defined through the sampling program at Turquoise Canyon is highlighted in Figure 8 below. Geochemical results including gold, arsenic, mercury, and antimony define a corridor of anomalies spanning approximately 700 meters. These anomalies coincide with a major thrust fault which is overlaying the Vinini Formation on top of the Valmy Formation, as well as a prominent resistivity anomaly.

Figure 8: Resistivity Anomaly at Turquoise Canyon with Notable Geochemical Results & Faulting

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Robert Edie, Westward’s Vice President Exploration, commented: “I’m very pleased with the results of this surface sampling program. The gold and multi-element assay data received demonstrate the need for continued aggressive exploration in the year ahead. These results also provide further evidence that a Carlin-type system extends east and south of known mineralization at Toiyabe. Many new prospective target areas warrant additional work to advance them towards first-ever drilling; this land package is primed for discovery.”

Sampling Methodology & Chain of Custody

The Company implemented a best-practices QA/QC program during the surface sampling program. All rock chip samples were collected by Robert Edie, Westward’s Vice President Exploration. Coordinates for each sample were collected by Garmin GPS units in datum UTM NAD 83 Zone 11 meters and recorded in a spreadsheet, along with a visual description of each sample. Samples were transported from the field collection areas by Robert Edie to Bureau Veritas’ (“BV”) certified preparation facility at 605 Boxington Way, Suite 101, Sparks NV 89434, where they were crushed and pulverized. Resulting sample pulps (30g sample size for gold and 500mg for multi-element) were analyzed in Sparks, NV for fire assay and Vancouver, BC for multi-element. BV is independent of the Company.

Quality Assurance / Quality Control

Certified reference materials (“CRMs”) purchased from Moment Exploration Geochemistry in Lamoille, NV, were inserted into the rock chip sample stream at a frequency of one every 25th sample (4%). Four CRMs were inserted at random, three with known gold values, and one certified blank. All CRMs inserted into the sample stream returned gold values within the expected range of the known values.

Qualified Person

The technical information contained in this news release was reviewed and approved by Robert Edie, Vice President Exploration of the Company, who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Edie is a Certified Professional Geologist (CPG) through the American Institute of Professional Geologists (AIPG).

About Westward Gold

Westward Gold is a mineral exploration company focused on developing the Toiyabe, Turquoise Canyon, and East Saddle Projects located in the Cortez Hills area of Lander County, Nevada, and the Coyote and Rossi Projects located along the Carlin Trend in Elko County, Nevada. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.

For further information contact:

Colin Moore
President, CEO & Director
Westward Gold Inc.
colin@westwardgold.com

www.westwardgold.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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 "expect", "believe", "anticipate", "intend", "estimate”, “potential”, “on track”, “forecast", "budget", “target”, “outlook”, “continue”, “plan” or variations of such words and phrases and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or the negative connotation of such terms.

Such statements include, but may not be limited to, information as to strategy, plans or future financial or operating performance, such as the Company’s expansion plans, project timelines, expected drilling targets, and other statements that express management’s expectations or estimates of future plans and performance.

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.sedar.com. 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.