Strategically Positioned in One of the World’s Most ...
Transcript of Strategically Positioned in One of the World’s Most ...
CSE: WG // FSE: IM50westwardgold.com
November 2021
Strategically Positioned in One of the
World’s Most Prolific Mining Districts
The information contained herein, while obtained from sources which we believe are reliable, is not guaranteed as to its accuracy or completeness. This presentation may contain references to historical
information containing geologic and technical information, among other things. By its nature, this information cannot always be verified. A Qualified Person has not verified, as applicable, any sampling,
analytical, or test data underlying any information herein. Westward Gold (“Westward”, or the “Company”) has assumed that any historical information is accurate and complete in all material respects and,
while the Company has carefully reviewed all the available information, it cannot guarantee its accuracy and completeness. Furthermore, you are receiving this presentation without any representations or
warranties, express or implied, by the Company as to the accuracy and completeness of the information contained herein. Neither the Company nor its directors, officers, employees or agents assume any
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course of their evaluation of the Company and its business.
This presentation under no circumstances is to be construed to be an offering of securities of the Company. Neither this presentation nor its delivery to the recipient will constitute an offer to sell, or
the solicitation of an offer to buy, the assets and / or securities described herein. This presentation and the information contained herein has been prepared and provided solely to assist interested
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investigation and analysis of the Company, its business and the information contained herein. A recipient is invited to, either on their own or in consultation with their professional advisors, ask
questions and receive answers from the directors and officers of the Company in order to obtain any additional information that they consider necessary for the purpose of making an informed
investment decision. As a recipient of this presentation, you agree that you will rely solely on your own due diligence with respect to any potential future investment in the Company. The scope of any
enforceable representations and warranties that you or the Company may give in the future will be negotiated along with the terms and conditionsto be documented in definitive investment agreements
relating to the potential participation in any future Company financing rounds.
This presentation contains "forward-looking statements" within the meaning of applicable securities legislation. These forward-looking statements are made as of the date of this presentation and the
Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Forward-looking statements may include, but are not limited to,
statements with respect to the future price of metals and minerals, the estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future
production, capital expenditures, success of exploration activities, permitting time lines, requirements for additional capital, government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage, the completion of transactions and future listings and regulatory approvals. In certain cases, forward-
looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will” be taken, occur or be achieved.
Forward-looking information in this presentation includes, among other things, disclosure regarding: the Company’s mineral properties as well as its future outlook; statements with respect to the
future price of metals and minerals; the success of exploration activities; permitting timelines; cost and expenditure requirements for additional capital; future listings or regulatory approvals. In
making any forward-looking statements in this presentation, the Company has applied certain factors and assumptions that it believes are reasonable, including: that there is no material deterioration in
general business or economic conditions; that the supply and demand for, any deliveries of, and the level and volatility of prices of the Company's primary metals and minerals develop as expected; that the
Company receives regulatory and governmental approvals for its properties on a timely basis; that the Company is able to obtain financing for its properties on reasonable terms; that the Company is able
to procure equipment and supplies in sufficient quantities and on a timely basis; that engineering and exploration timelines and capital costs for the Company's exploration plans are not incorrectly
estimated or affected by unforeseen circumstances; that any environmental and other proceedings or disputes, if any, are satisfactorily resolved; and that the Company maintains its ongoing relations
with any of its business partners.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by the forward-looking statements herein. Such factors may include but are not limited to: actual results of current
exploration activities; actual results of reclamation activities, if any; future metal and mineral prices; accidents, labor disputes and other r isks of the mining industry; delays in obtaining any
governmental or regulatory approvals or financing; or the completion of exploration activities. Although the Company has attempted to identify important factors that could cause actual results,
performance or achievements to differ materially from those described herein, there may be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended.
There can be no assurance that any of the forward-looking statements herein will prove to be accurate, as actual results, performance or achievements could differ materially from those anticipated herein.
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Cautionary Statements
Investor Highlights
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Westward has assembled a 3,000-hectare land package in the heartof Nevada’s Battle Mountain-Eureka Gold Trend, one of the most prospective mining districts in the world:
TOIYABE PROJECTAn advanced-exploration asset with past drilling, active drill permits in place, high-grade intervals, and an historical resource of 173koz of gold at 1.2 g/t (2009, P. Nolan)(1)
TURQUOISE CANYON PROJECTGreenfield property with geological characteristics trending from the Toiyabe Project, and multiple anomalies including gold-in-soil, gravity, and IP
The contiguous properties sit a short distance away from some ofBarrick Gold / Nevada Gold Mines’ largest mines and deposits, including Cortez, Cortez Hills, Pipeline, Goldrush, and Four Mile
Data-driven exploration: Westward is using leading-edgetechnology (including hyperspectral imaging analysis) to improve and optimize target development
Positioned for growth through exploration and acquisition; tightshare structure, available working capital, and strong insiderholdings
(1) NI 43-101 Technical Report, American Consolidated Minerals Corporation, Prepared by Paul D. Noland, P.Geo., May 27, 2009
Exploring in Barrick’s Backyard
R AYMON D D. H AR AR I | CE O• Founder of Canalis Capital, a merchant bank focused on disruptive
industries
• Also serves as President & Director for Bald Eagle Gold Corp.
• Previously worked at Credicorp Bank in its private wealth groupin Panama and Nomura’s consumer and retail investment banking group based in New York City
COL I N MOOR E | P R E S I D E N T• Mining finance professional with 14years of industry experience
in private equity, investment banking and engineering
• Recently held positions at Pacific Road Capital in Vancouver, Waterton Global in Toronto and BMO Capital Markets in Toronto
• E arned a B achelor of Science in Mining E ngineering and an MB A from Queen’s University in Kingston, Ontario
A N D R E W N E L S O N | CF O & COP OR AT E S E CR E T AR Y• Accounting and corporate finance professional with a decade of
experience in mining and natural resources• Previously worked on the investment banking team at Dundee Securities
in Vancouver then at Dundee Goodman Merchant Partners following their transition to a mining-focused merchant bank
• Was a financial auditor for Grant Thornton LLP and Davidson & Co. LLP and earned his CPA designation
DAVI D B R OW N I N G | VP E XP L OR AT I ON• Over 12 years of experience designing and implementing leading-
edge exploration programs for resource companies around the world • Began his career as a field technician for Miranda Gold, overseeing
generative exploration programs across Nevada at projects along the Carlin Trend, Cortez Trend and Walker Lane
• Previously a Senior Geologist for TerraCore in Reno, Nevada, an industry leader in hyperspectral imaging technology
MARK MONAGHAN | CHAIRMAN & DIRECTOR• 28 years of experience as an investor, adviser, founder, & board
member across several industries.• F ounder and Managing P artner of Dalvay Capital Corp., a P anam a-
based investment and advisory platform• Executed over US$2B of transactions, across M&A, debt, and equity
financings for international growth companies
Leadership Team
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DAVI D K E L L E Y | D I R E CT OR• Over 30 years of mineral exploration experience, designing and
leading programs throughout the Americas, Asia and Australasia• Current CEO, President and Director of Chakana Copper, an
exploration company focused on the Soledad Cu-Au-Ag Project • Earned his B.Sc. (Geology) from Colorado State University and his
M.Sc. (Geology & Geochem istry) from the Colorado School of Mines
W AR R E N B E I L | D I R E CT OR• Serves as General Counsel and Corporate Secretary of Maverix
Metals Inc. (TSE: MMX), a billion-dollar mining royalty company• Corporate and securities lawyer with a specialized focus in the
mining and natural resource sectors• Practicing member of the Law Society of British Colombia and
holds a Juris Doctor from the University of Toronto and a Juris Doctor (Honours) from Bond University in Australia
JOH N D E W D N E Y | D I R E CT OR• CEO of Crowsnest Advisory Services, a private company focused
on providing mergers and acquisitions execution• Served as CEO, Director, and Advisor to avariety of public and
private companies and holds a Bachelor of Commerce degree witha major in Finance from McGill University
R I C H A R D L . B E D E L L• Current Chairman of TerraCore, Inc., and past President of the Geological Society of Nevada• Co-Founder of AuEx Ventures, credited with discovering the Long Canyon deposit in Nevada;
sold to JV partner Fronteer Gold for $280 million (Fronteer later sold to Newmont for $2.3B)• Past President of Renaissance Gold; recently merged with EVRIM to create Orogen Royalties• 40 years of international exploration experience; holds a B.A. from Hampshire College, an M.Sc.
in Economic Geology from the University of Toronto, and an M.Sc. in Remote Sensing and GIS from the University of London
S T E V E N R . K O E H L E R• Exploration geologist with over 30 years of experience working on projects across various
stages of development• Past Senior Geologist on the initial discovery team at Cortez Hills, which was developed into a
10+ million-ounce gold deposit (awarded the 2005 Thayer Lindsley International Discovery Award for his contributions)
• Has held senior management and technical positions at Gold Standard Ventures, GFG Resources, Evolving Gold, Miranda Gold, Cortez Gold Mines, and Newmont; has been directly involved in 11 Carlin-type gold discoveries, 6 of which have become producing mines
D R . C H R I S O S T E R M A N• Ph.D. in Geology with over 40 years of experience in all stages of the mining industry
throughout Africa, North and South America, and Asia• Involved in the initial discoveries of the Malku Khota silver deposit in Bolivia, the San Jose
silver and gold mine in Oaxaca, Mexico, and the Zuun Mod copper/moly deposit in Mongolia• Served as an executive in First Mining Gold Corp. following its acquisition of Sundance
Minerals (past owner of the Turquoise Canyon Project) where he served as CEO
D R . A L A N C A R T E R• Geologist and mining entrepreneur with over 30 years of industry experience, earned his
Ph.D. in Gold Geochemistry and Structural Geology• Co-founder of both Peregrine Metals Ltd. and Cuprum Resources Ltd., which were sold to
Stillwater Mining and B&A Mineracao respectively• Former CEO of Magellan Minerals which was acquired in 2016 and is now part of Equinox
Gold, and current President & CEO of Cabral Gold, and Chairman of both Altamira Gold & Fremont Gold
Technical Advisory Committee
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SOCIAL
We strive for active communication and collaboration with all
stakeholders, including local residents, First Nations, regulatory
bodies at all levels, and NGOs
CORPORATE FOCUS: A COMMITMENT TO ESG
Sustainability is fundamental to our success as an organization,
and is essential to maintaining our current Plan of Operations 6
GOVERNANCE
The Company has adopted,and enforces, corporate
governance principles and internal controls
consistent with bestpractice, our values, and the requirements of publicly-listed mining companies
EN V IR ON MEN TA L
Westward Gold is committed to sustainable
exploration and reclamation, responsible
development and continuous improvement
of our environmental practices. We demand the same from all third-party
contractors and consultants
Capital Structure
SHARESTRUCTURE
MA JORSHAREHOLDERS
Current Share Price
Shares Outstanding
Options (avg. strike $0.19)
Warrants (avg. strike $0.25)
Fully Diluted Shares Outstanding
Market Capitalization
Enterprise Value
Working Capital (Approx.)
Debt
C$0.12
46.35 M
4.24 M
5.16 M
55.74 M
C$5.6 M
C$4.6 M
C$1.0 M
NIL
Insiders / Directors
Starcore International Mines
First Mining Gold
Keith Neumeyer
27.2%
8.8%
2.6%
0.9%
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“Gold is — and always has been — the world’s favorite safe haven. There’s not one single item or investment that can come anywhere close to beating gold’s mega, long -term track record.Throughout history, gold has always maintained its purchasing power, and again no other investment comes close.” - Forbes
“Since 1971, gold has mostly managed to trounce fiat paper as a currency and the yellow metal has held its own as an asset class. After 35 years in the gold trade and with the benefit of my Sprott team of experts, I feel qualified to state that today's environment may offer a stellar opportunity to goldinvestors.” - Peter Grosskopf, Sprott CEO
Gold: Why Invest?
$500
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
$2,100
$2,300
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sp
ot
Go
ld P
rice
(U
S$
/oz)
Gold Price: History Repeating Itself?
Recent history has demonstrated that gold outperforms following periods of economic shock
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Global Financial Crisis = Expansionary Fiscal + Monetary Policies
COVID-19
✓The most prolific mining jurisdiction in the world:Nevada boasts the most gold production per squarekilometer(1)
✓World-class gold deposits: 4 of the top 10 gold mines in North America by production are located in Nevada (more than any other state or province)(2)
✓Safest jurisdiction to invest in: Based on the Fraser Institute’s annual survey (2020), Nevada ranks #1 on their Investment Attractiveness Index (87 tracked jurisdictions around the world)
✓New tier-1discoveries: Despite having a long history of mining, much of the state remains under-explored
✓Significant M&A activity: Acquirers have historically looked to Nevada as a prime target for growth; recent transactionsinclude:
• AngloGold / Corvus (U S$370M) – announced (2021)• F irst Majestic / Jerr itt Canyon (U S$470M) (2021)• Endeavour Silver / Bruner Gold Project (US$10M) (2021)• B arrick / Newm ont Joint Venture (2019)
1) Source: USGS, Nevada Exploration Inc.
2) Source: SNL Financial 10
Nevada: Why Invest?Total Contained Resources – Primary Gold Projects (Moz Au)(2)
0 200 400 600 800
Canada
USA
Australia
Mexico
Ghana
Peru
Indonesia
Brazil
Papua New Guinea
Burkina Faso
Mali
Guyana
Senegal
Finland
Nevada accounts for ~52% of total gold
resources in the U.S.
• Situated 10 kilometers southwest of one of Barrick Gold’s 5 core mines, Cortez Hills, which hosts approximately 10million ounces of gold
• Consists of approximately 3,300 acres of public land administered by the U.S. Bureau of Land Management(BLM)
• 165 unpatented Mining claims cover the region
• Historical resource of 173,562 contained ounces of gold at an average grade of 1.2 g/t(1)
• Other major mines / deposits in the surrounding area include:➢ Pipeline / South Pipeline (16 km)➢ Cortez Hills (10 km) & Cortez (13 km)➢ Gold Acres (19 km)➢ Gold Rush (14 km)➢ Horse Canyon (13 km)
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Toiyabe Gold Project
(1) NI 43-101 Technical Report, American Consolidated Minerals Corporation, Prepared by Paul D. Noland, P.Geo., May 27, 2009
• Historical ~173 koz gold resource associated with Roberts Mountain Thrust (“RMT”)
• Favourable stratigraphy associated with anomalous surface values and drill intercepts
• Existing targets untested at depth
• Untested targets associated with surface geochemical anomalies, favourable stratigraphy, and structural controls
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Toiyabe: Exploration Targeting
Gravity Anomaly
Fault
Fault Uncertain
Fault Undercover
Thrust Fault
Thrust Fault Uncertain
Historical Resource
Mineralized Faults
5 – 10 ppb
10 – 25 ppb
25 – 50 ppb
50+ ppb
Gold in Soils
Legend
Historical Resource
Gravity Anomaly
• Courtney Zone Historical Resource mostly hosted in mineralized structures between 15 and 75-meter depth, and has demonstrated high-grade drill intercepts including:
➢ T-603: 12.85 g/t over 6.0m (from 42.6m)
➢ T-701C: 14.83 g/t over 1.6m (from 14.6m)
➢ T-706C: 10.92 g/t over 4.6m (from 54.8m) and 26.6 g/t over 3.0m (from 71.6m)
➢ T-719: 3.51 g/t over 16.8m (from 50.2m)
• Wider intervals at greater depth (250-315 meters) indicate these faults are potentially feeder structures from a larger, deeper source with dissemination into the host rock
➢ T-902C: 4.10 g/t over 13.1m (from 266.7m)
➢ T-1001BC: 2.03 g/t over 18.3m (from 296.5m)
➢ T-1601C: 3.02 g/t over 9.1m (from 253.9m) and 0.96 g/t over 21.4m (from 278.2m)
• Only 16% of drill holes at Toiyabe reached beyond 180 meters: expansion potential at depth
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Toiyabe: Historical Resource
Source: NI 43-101 Technical Report, American Consolidated Minerals Corporation, Prepared by Paul D. Noland, P.Geo., May 27, 2009Source: NI 43-101 Technical Report, Starcore International Mines Ltd., Prepared by Paul D. Noland, P.Geo., May 11, 2018
Courtney Mineralized Faults
Legend
Historical Gold Resource
DH Drill Holes
• Historical resource at Courtney Zone not tested to depth, despite evidence of more widespread dissemination into host rock (84% of holes ended within 180 meters from surface)
• Anomalous soils associated with previously-identified California and Blind Zones
• Courtney, California and Blind Zones associated with Roberts Mountain Thrust
• Blind Zone tested with 11 drillholes, with a maximum depth of 135 meters (average depth of 100m)
• California Zone tested with 81 drillholes, with only 12% extending beyond 180 meters
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Toiyabe: Target Zones
Go
ld i
n S
oil
s
Ars
en
ic i
n S
oil
s
Sil
ve
r in
So
ils
An
tim
on
y i
n S
oil
s
Courtney Zone
California Zone
BlindZone
• Turquoise Canyon shares its western boundary with the Toiyabe Project, and shares many of its structural features
• Consists of approximately 3,800 acres of public land, administered by the BLM
• 188 unpatented mining claims cover the property
• Surface geochemical anomalies, favourable stratigraphy, and observable structures continuous from Toiyabe’s historical resource onto the Turquoise Canyon Project
• Blue-sky potential: Turquoise Canyon has yet to see any drilling
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Turquoise Canyon Project
Gold in SoilsLegend
Argillite
Robert Mt. Fm.
Valmy Fm.
Fault
Normal Fault
Projected Strike
Shear Zone
Thrust Fault
Antiform
M Fold
Z Fold
S Fold
Access Roads
Proposed Drill Pads
3 – 4 ppb
4 – 6 ppb
6 – 7 ppb
7 – 8 ppb
8+ ppb
• Anomalous gold in soils associated with the Roberts Mountain Thrust
• Soil anomalies are continuous from the Toiyabe Courtney Zone immediately to the west
• East-west structures in the historical Toiyabe resource extend to Turquoise Canyon
• Structures and geochemical anomalies are completely untested with drilling
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Turquoise Canyon: Target Zones
Go
ld i
n S
oil
s
Me
rcu
ry i
n S
oil
s
Sil
ve
r in
So
ils
Zin
c in
So
ils
SWAnomaly
Rob. Mt. Thr.Anomaly
NEAnomaly
Rob. Mt. Thrust
• Gravity geophysical anomalies reveal variations in rock densities, i.e. mineralized areas of host rock will appear more dense than the surrounding lithologies
• The combined land package provides for exploration of a large gravity anomaly which straddles the two previously-independent projects
• Surface expression of Roberts Mountain Thrust and surface geochemical anomalies coincide with gravity anomaly indicating mineralization at depth
• Gravity anomaly untested to depth at Toiyabe and completely undrilled at Turquoise Canyon
➢Multiple near-term drill targets
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Turquoise Canyon: Targeting
Legend Structures
Momentum Claims
Toiyabe Project
Turquoise Canyon Project
Gravimetry Station Thrust Fault
Thrust Fault Uncertain
Hyperspectral Core Imaging
• High-resolution RGB (true colour) and infrared hyperspectral imagery of legacy core and chip trays from the Toiyabe Project (approximately 9,000 ft of diamond core and 30,000 ft of RC chips)
• Re-logging effort to properly identify lithologies
• Mineralogical variation, mineral chemistry, and mineral grain size will add new alteration information not understood in previous drilling campaigns
• Subsurface mapping of lithologies and alteration will guide future drill targets and reduce costs
• Program completed in September 2021, data compilation, analysis, and incorporation into revised 3D model now underway
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Airborne Hyperspectral Survey
• High ground resolution infrared imaging across multiple wavelength ranges to capture a wide array of mineralogy
• Delineation of surface expression of structures
• Identification of surface alteration areas
• Advanced structural understanding through combination of surface hyperspectral mapping and sub-surface core imaging
• Program completed in September 2021, data compilation, analysis, and incorporation into revised 3D model now underway
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Toiyabe Historical Resource Area
Toiyabe-Saddle Past-Producing Mine (Barrick)
Induced Polarization (IP) Survey
• Induced Polarization used to identify electrical charge of subsurface material, such as ore
• New 17-kilometer survey at Turquoise Canyon, to complement legacy IP and past magnetic and gravity surveys
• One line will extend directly over historical resource at Toiyabe, in order to match its signature to those seen within Turquoise Canyon survey area and improve drill targeting
• Program completed in October 2021, data compilation, analysis, and incorporation into revised 3D model to follow
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Nevada Properties: Summary
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A combined land package of 362 claimscovering ~30km2, on-trend with some of thelargest deposits in the world, with anomaloussurface geochemistry, favourable structuresand host rock, significant drill intercepts, ahistorical resource, permits in hand, andmany additional untested targets
TOIYABE &
TURQUOISE
CANYON
H2 2021 H2 2021
EXPLORATION
TARGETING
Q4 2021
TURQUOISE
CANYON
PERMITTING
Q4 2021-Q1 2022
DRILL
CAMPAIGN
2022
Q2-Q3 2022
Future Plans & Catalysts
ONGOING WORK /
RESULTS FROM 2021
FIELD SEASON
Data compilation and
analysis of legacy
technical information
Hyperspectral imaging
of legacy core, aerial
hyperspectral survey,
IP survey
Target development
for 2022 drilling
campaign using data
from 2021 field season
Expand existing
Toiyabe Plan of
Operations to include
Turquoise Canyon
Drill campaign to
test extensions of
historic resource,
geological thesis at
depth, and maiden
holes at TC
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• Westward acquired the option on Toiyabe in April
2021 from Starcore International Mines
• Right to earn into 100% ownership of the
property for future cash payments:
➢ US$140,000 on October 15th, 2022
➢ US$400,000 on October 15th, 2023
• No additional exploration expenditures required
• Minquest (optionor) will retain a 3% NSR royalty
on the property with WG having the right to buy
back up to half (1.5%) for US$2M per 1%.
TOIYABE
• Momentum Minerals Ltd. entered into an option
agreement with First Mining Gold on August 20, 2019, to
acquire 100% ownership of the property (Westward
subsequently acquired Momentum in July 2021)
• Right to earn into 100% ownership of the property for
future cash / equity payments and work commitments
• Remaining cash / equity payments:
➢ C$137,500 on August 20, 2022 (cash or shares at
Westward’s option)
➢ C$137,500 on August 20, 2023 (cash or shares at
Westward’s option)
• Exploration expenditures:
➢ C$750,000 in total expenditures prior to
August 20, 2023 (Approx. C$422,000 spent and
committed to date)
OP
TIO
NT
ER
MS
TURQUOISE CANYON
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P H O N EN U M B E R
+1 (604) 828 7027
MAILING A D D R E S S
700-1090 W Georgia St
Vancouver BC V6E 3V7
EMAIL A D D R E S S
REACH OUT
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