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  • Western Gold Exploration (WGLD) has completed its latest round of financing
  • The Calgary-based natural resource explorer raised $1,150,000 through a non-brokered private placement
  • Money raised will be put towards exploration drilling programs and related work on its mining properties and for general and administrative expenses
  • The company has an established mineral exploration prospect on the West Coast of Scotland
  • Western Gold Exploration is unchanged, trading at $0.18 at 12:51 pm ET

Western Gold Exploration (WGLD) has completed its latest round of financing.

The Calgary-based natural resource explorer raised $1,150,000 through a non-brokered private placement.

It issued 7,666,646 equity units as part of the financing.

Money raised will be put towards exploration drilling programs and related work on its mining properties and for general and administrative expenses.

The company has an established mineral exploration prospect on the West Coast of Scotland.

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.

To date, the company’s exploration spending towards its work commitment on the Knapdale Project, including drilling in July, exceeded its first milestone work commitment of £1.5 million (C$2,296,132) by July 29.

Western Gold Exploration is unchanged, trading at $0.18 at 12:51 pm ET.


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