/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/

SASKATOON, SK, Sept. 1, 2023 /CNW/ - Wescan Goldfields Inc. (TSXV: WGF) ("Wescan" or the "Company") is pleased to announce that it intends to complete a private placement of up to 3,333,333 flow-through common shares in the capital of the Company (the "Flow-Through Shares") at a price of $0.06 per Flow-Through Share, and up to 2,000,000 units of the Company (the "Units") at a price of $0.05 per Unit, for aggregate gross proceeds of up to $300,000 (collectively, the "Offering"). Each Unit will consist of one common share in the capital of the Company (each, a "CommonShare") and one Common Share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.06 for a period of twelve months from the date of issuance thereof. The Company intends to use the proceeds from the Offering to incur Canadian exploration expenses on the Company's gold properties (collectively, the "Qualifying Expenditures") and for general working capital purposes. Wescan will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares.