NORTH BERWICK, Scotland, May
27, 2021 /CNW/ - WESTERN GOLD EXPLORATION LTD. (TSXV:
WGLD) (the "Company") is pleased to announce that
it has filed its interim consolidated financial statements and
Management's Discussion and Analysis ("MD&A") for the three
months ended March 31, 2021, which
can be found under the Company's profile on SEDAR
(www.sedar.com).
During the three months ended March 31,
2021 ('Q1 2021) the Company continued to advance its
exploration and evaluation of its mineral properties in
Scotland. The impact of COVID-19
restrictions and repercussions from the cyber-attack on
Scotland's Environment Protection
Agency, ('SEPA') extended, to the end of March 2021, the process for the Company to obtain
the required approvals for the drilling campaign. Government
imposed COVID-19 restrictions in the UK eased in Q2 2021, which
enabled the Company and its contractors to commence the drilling
campaign.
As previously announced, this drilling campaign includes eight
diamond drill holes of 150 to 200 metres depth each, for aggregate
drilling of 1,360 metres, which will be used to evaluate the
economic potential of the Stronchullin quartz-gold-silver-base
metal veins in the vicinity of the historic gold mine.
Scout drilling undertaken in 2017-2018 at Stronchullin
intercepted narrow, high grade quartz-gold-silver-base metal veins
in four of the seven drillholes. Further details can be found in
the Company's most recent MD&A and in the "NI 43-101 Technical
Report, Geological Introduction to Knapdale Gold-Silver Project,
Scotland" with an effective date
of June 12, 2020, which can be found
on the Company's website or under the Company's SEDAR profile.
Ross McLellan, Chief Executive
Officer commented: "The Company is pleased that the first
few weeks of diamond drilling at Stronchullin have progressed as
expected and we look forward to advancing the exploration work as
planned."
About Western Gold Exploration
The
Company is a Mineral Exploration company that is listed on the TSX
Venture Exchange under the symbol "WGLD". The Company is focused on
the exploration of mineral properties in Western Scotland and discovering new
opportunities in the Dalradian Belt, targeting historic gold-silver
and copper-lead mines in the belt with the potential to develop a
mineral resource. Prospects include the Stronchullin mine, Gossan
Burn and Allt Dearg which are all located in the Knapdale Project
area.
Additional information about the Company is available on SEDAR
at www.sedar.com under the Company's profile.
REGARDING FORWARD-LOOKING STATEMENTS
This
news release includes certain "forward-looking statements" under
applicable Canadian securities legislation. Forward looking
statements include, but are not limited to, statements with respect
to those that address potential quantity and/or grade of minerals,
potential for minerals and/or mineral resources, timing and plans
for any exploratory drilling and statements regarding the plans,
intentions, beliefs, and current expectations of the Company with
respect to the future business activities and operating performance
of the Company that may be described herein. Forward-looking
statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations, or
intentions regarding the future. Such information can generally be
identified by the use of forwarding-looking wording such as "may",
"expect", "estimate", "anticipate", "intend", "believe" and
"continue" or the negative thereof or similar variations. Readers
are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions
or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks
and - 5 - uncertainties include, among other things, the state of
the economy in general and capital markets in particular, as well
as those risk factors discussed or referred to in the Company's
Management's Discussion and Analysis for the year ended
December 31, 2020 available at
www.sedar.com, many of which are beyond the control of the Company.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this press
release are made as of the date of this press release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Western Gold Exploration Ltd
