WestKam Gold Corp. Provides Update on Management Cease Trade Order, Announces Appointment of Interim CFO and Announces Private Placement

Vancouver, BC, Canada, July 15, 2025 (GLOBE NEWSWIRE) — WestKam Gold Corp. (TSXV:WKG) (the “Company” or “WestKam”), further to its news release of July 2, 2025 (the “MCTO Announcement”), provides an update with respect to the management cease trade order (the “MCTO”) dated July 2, 2025, issued by the British Columbia Securities Commission (the “BCSC”) in connection with the delay by the Company in filing its interim financial statements, the related management’s discussion and analysis and the related officer certifications for the six month period ended April 30, 2025 (collectively, the “Interim Filings”), before the filing deadline of June 30, 2025 (the “Filing Deadline”) as required under applicable Canadian securities laws.

The Company was unable to file the Interim Filings prior to the required deadline as its CFO, Pam Saulnier, had unexpectedly had to go on medical leave. In recent weeks, the CEO has interviewed new personnel to provide bookkeeping/accounting services to the Company and to act as an Interim CFO. The Company is pleased to announce the appointment of Akash Patel as the Company’s Interim CFO effective immediately. Mr. Patel will assist the Company with completion of the Interim Filings as soon as possible.

Pursuant to the MCTO, the CEO and CFO of the Company are restricted from trading in the securities of the Company until such time as the Company files the Interim Filings and the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders of the Company to trade their securities.

The Company is providing this updated status report in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). Until such time as the Company files the Interim Filings and the MCTO has been revoked, the Company will follow the alternative information guidelines set out in Section 10 of NP 12-203 (the “Guidelines”), including the issuance of bi-weekly default status reports in the form of news releases.

Pursuant to the Guidelines, the Company confirms that, as of the date of this news release and except as note above, (a) there have been no changes to the information contained in the MCTO Announcement that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the Guidelines; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the MCTO Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

Appointment of CFO

Akash Patel has worked in the investment industry for over 10 years with junior companies from inception and incorporation to final listing. He has acted as CEO, CFO and director of several public companies and as the head of his own accounting firm. Mr. Patel specializes in the assistance of initial public offerings and regulatory filings, as well as corporate tax filings. Mr. Patel has received a Business Degree and a Bachelors in Accounting from the British Columbia Institute of Technology with a major in accounting and taxation. He brings public and private experience having worked at several Chartered Accounting firms and conducted audits for the public sector. He has also been an active board member and contributed to the start-up of Makena Resources Inc (CAJ), MX Gold Corp (MXL), Cameo Industries (CRU) and Cresval Capital Corp (CRV).

Private Placement

The Company also announces that it proposes to undertake a non-brokered private placement (the “Offering”) to raise up to $250,000 through the sale of up to 3,571,428 units (the “Units”). Each Unit will be sold at a price of $0.07 and will be comprised of one common share and one common share purchase warrant exercisable at $0.10 for a period of two years following the close of the Offering.

The Company may pay a finder’s fee to eligible finders as permitted under applicable securities laws and TSX Venture Exchange (“TSXV”) policies. Proceeds arising from the sale of the Units will be utilized for exploration on the Will Property and for unallocated working capital. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders’ fees in relation thereto remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

About WestKam

Westkam Gold Corp. is focused on acquiring and developing mineral properties, with strong potential to host significant resources, in Western Canada. We are looking for additional projects that are in an established mining district with highly prospective geology that could host significant resources.

ON BEHALF OF THE BOARD OF DIRECTORS
“Peter Laipnieks”
Peter Laipnieks, President & CEO

Contacts:
WestKam Gold Corp.
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1

Investor Relations
250.216.5671
Email: [email protected]
westkamgoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this news release contains forward-looking information regarding the timing of completing and filing of the Interim Filings. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.