Western Exploration Grants Incentive Stock Options

Western Exploration Inc. (TSX-V: WEX, OTCQX:WEXPF) (the "Company" or "Western Exploration") wishes to announce that in accordance with its equity incentive plan, the Company has granted to certain directors, officers, employees, and consultants of the Company a total of 1,596,025 stock options (“Options”), with each Option exercisable for one common share of the Company at a price of $2.65 per share for a period of 5 years from the date of grant, and a total of 125,000 Restricted Share Units (“RSUs”). The Options and RSUs will vest according to the following schedule: 1/2 immediately, 1/4 at 12 months, and 1/4 at 24 months. The RSU and Options are subject to TSX Venture Exchange (“TSXV”) policies and regulations and are subject to a hold period of four months and one day in accordance with Canadian securities laws.

About Western Exploration

Western Exploration Inc. is Nevada-focused precious metals exploration company, aiming to be a premier gold and silver development company in North America. The Company was born out of a 25-year history of advancing exploration projects in Nevada as a private company. Its principal asset is the Aura gold-silver project, located in Elko County, Nevada, approximately 120 kilometers north of the city of Elko, Nevada.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220608006010/en/