WestGold Metals Corp. has entered into a binding option acquisition agreement to divest its 100% undivided option over the Isoneva gold property in Finland to Jesmond Capital Ltd., completing the company's shift toward North American precious metal exploration.

Under the transaction terms, Jesmond will issue WestGold 1,075,000 common shares at closing, representing an approximate 9.9% stake in Jesmond before any concurrent financing. Jesmond will also pay C$250,000 in cash on closing and reimburse €52,197 in exploration expenditures previously funded by WestGold. A further C$250,000 in cash is payable by Jesmond on closing, alongside a contingent payment of C$325,000 if and when Jesmond exercises the Isoneva option.

The transaction forms Jesmond’s qualifying transaction under TSX Venture Exchange Policy 2.4. Closing is targeted for December 31, 2026, and remains subject to regulatory approvals, exchange clearance, and Jesmond completing a concurrent financing.

The agreement removes all future funding obligations for WestGold at Isoneva, passing remaining exploration expenditure and payment commitments under the underlying option agreement with Gemdale Gold Inc. directly to Jesmond. The transaction shares received by WestGold will be held in escrow, with 107,500 shares released at closing and the remainder released in six equal quarterly instalments over 18 months.

"We’re very pleased with the outcome of this transaction as it will complete the repositioning we began in January. Isoneva is a credible project, but our strategic focus is now on North America and holding it would mean spending capital and management time we would rather put into the Idaho Projects."

"Assigning the Isoneva option allows us to recover a portion of our investment in the project while retaining ongoing exposure through our interest in Jesmond. Jesmond’s founding group brings relevant experience in financing and advancing mining projects, including in Finland, and we believe Isoneva will be well positioned to move forward under their stewardship while we further concentrate our efforts on advancing the Idaho Projects."

— James Hocking, Chief Executive Officer and Director

WestGold changed its name from Nordique Resources Inc. in March 2026 to reflect its refined corporate strategy. With the Isoneva divestment proceeding toward its December completion target, management and capital are now directed entirely toward the company's Idaho portfolio, where WestGold is completing surface work to support a maiden drill program at the Amie project.

Read the full announcement: WestGold Metals Agrees to Divest Isoneva Option to Jesmond Capital, Completing Transition to a Focused North American Explorer