WEST POINT GOLD ANNOUNCES C$7 MILLION PRIVATE PLACEMENT

/Not for distribution to United States newswire services or for dissemination in the United States. Not an offer of securities for sale in the United States/

VANCOUVER, BC, May 29, 2025 /CNW/ - West Point Gold Corp. ("West Point Gold" or the "Company") (TSX.V: WPG) (OTCQB: WPGCF) (FSE: LRA0) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the "Underwriters"), in connection with a "bought deal" private placement for aggregate gross proceeds of approximately C$7 million (the "Offering").

The Offering will consist of the issuance and sale of 15,555,600 units of the Company (the "Units") at a price of C$0.45 per Unit (the "Offering Price"). Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.55 at any time before 5:00 p.m. (Toronto time) on the date that is 24 months following the Closing Date (as defined below). The expiry date of the Warrants will accelerate in the event the volume weighted average trading price of the common shares in the capital of the Company is equal to or exceeds C$0.90 per common share for a period of 20 consecutive trading days (an "Acceleration Event"). If an Acceleration Event occurs, the Warrants will expire 30 days after notice of such Acceleration Event.

The Company has granted the Underwriters an option, exercisable in whole or in part, at any time prior to Closing Date, to increase the size of the Offering to raise additional gross proceeds of up to C$1,000,080.

The Company is conducting a listed issuer financing pursuant to Section Part 5A.2 of National Instrument 45-106  Prospectus Exemptions (the "Listed Issuer Financing Exemption").  The Company is relying on the exemptions in Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the Order). The Underwriters will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions.

The securities described herein have not been and will not be registered under the United States ‎Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or ‎sold in the United States absent registration or available exemptions from such registration ‎requirements. This news release does not constitute an offer to acquire securities in any ‎jurisdiction.‎

There is an offering document with respect to the portion of the Offering being conducted pursuant to the Listed Issuer Financing Exemption that can be accessed under the Company's profile at www.sedarplus.ca and the Company's website at https://westpointgold.com/. Purchasers of Units issued under the Listed Issuer Financing Exemption will have the benefit of the offering document and the rights provided under the Listed Issuer Financing Exemption. Prospective investors of Units issued under the Listed Issuer Financing Exemption should read this offering document before making an investment decision.

The Company intends to use net proceeds from the Offering for exploration and advancement of the Company's Gold Chain Project, sustaining and exploration expenditures on the Company's projects in Nevada and for general working capital purposes.

The Offering is expected to close on or about June 10, 2025, or on such other date as may be agreed to by the Company and the Underwriters, subject to compliance with applicable securities laws (the "Closing Date"). Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption must occur no later than the 45th day following the date of this news release.

The completion of the Offering is subject to customary conditions, including, but not limited to, the negotiation of an underwriting agreement between the parties with respect to the Offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the TSX Venture Exchange.

About West Point Gold Corp.

West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA.  West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.

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FORWARD-LOOKING STATEMENTS:

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include, without limitation, statements regarding the closing of the Offering, the timing of the closing of the Offering, estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to West Point Gold's ability to complete any payments or expenditures required under the Company's various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data;  the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company's expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company's expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services 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 West Point Gold Corp.