Western Ridge Resources Limited has received firm commitments to raise $680,000 through an unbrokered placement to fund its upcoming exploration campaign at the Keystone Project in Nevada.

The financing involves issuing approximately 34 million new ordinary shares at $0.02 each. Participants will receive one free-attaching option for every new share, exercisable at $0.03 with a three-year expiry. Western Ridge directors have committed to subscribe for $120,000. Both director participation and option issues require shareholder approval. Settlement is anticipated on 18 August 2026, with allotment the following day.

The issue price represents a 9.1% discount to the last traded price on 11 August 2026 and a 14.17% discount to the 15-day volume-weighted average price.

Proceeds will primarily advance exploration at the flagship silver and gold project, covering tenement maintenance fees, general working capital, and the company's maiden reverse circulation drilling program.

“This Placement provides support for Western Ridge to commence the first modern drilling program at Keystone, which will be focusing on a compelling pipeline of targets. Our upcoming drilling program will provide the first opportunity to test extensions to the historic high-grade Keystone Mine and a number of priority targets generated through our recent exploration work.”

— Dr Matthew Cobb, Managing Director

The maiden reverse circulation drilling program is scheduled to begin at Keystone in early September 2026. It marks the first modern drilling at the historic Keystone Mine in more than 80 years, designed to test strike and dip extensions of high-grade mineralisation.

In May 2026, the company expanded its Keystone landholding by approximately 500% through the staking of 248 additional lode claims covering 4,960 acres. Western Ridge is also advancing a Phase 2 drilling permit application for the project.

The drilling program follows recent sampling results returning silver grades up to 941 g/t and gold grades up to 44.4 g/t.

Read the full announcement: Placement to Advance Keystone Exploration