West Point Gold Corp. (TSX.V: WPG) (OTCQX: WPGCF) (FSE: LRA0) is pleased to report that following the receipt of permits and the completion of bonding, Kinross Gold U.S.A., Inc. (“Kinross”), a wholly owned subsidiary of Kinross Gold Corporation, has commenced drilling at West Point Gold’s Jefferson Canyon project in Nye County, Nevada.
Highlights
- Kinross has commenced drilling on September 23, 2026, at West Point Gold’s Jefferson Canyon, located approximately 7 kilometres from its Round Mountain operations.
- Partner-funded exploration allows West Point Gold to retain exposure to Jefferson Canyon while allowing the Company to remain focused on its flagship Gold Chain Project.
- Permits were received August 19, 2026, starting the four-year option period laid out in the 2022 Exploration and Option Agreement (the “Agreement”).
- The Agreement provides for the potential of up to US$10 million in future option payments.
- West Point Gold retains meaningful long-term exposure to Jefferson Canyon, including a 20% project interest if both Kinross options are exercised and royalty protection should its interest subsequently be diluted below 10%.
Jefferson Canyon Project, Nevada
The Jefferson Canyon project in Nye County, Nevada is located 7 kilometres from Kinross’s Round Mountain operations (Figure 1). The project has 145 historical drill holes, including 41.2m at 6.4 g/t gold and 402 g/t silver (GJ-81). In 2022, West Point Gold entered into an Exploration and Option Agreement with Kinross (the “Agreement”). Kinross has made all the required payments associated with the agreement to date.
Figure 1: Jefferson Canyon Project Relative to Round Mountain
The Jefferson Canyon project contains a large volcanic-hosted epithermal Au-Ag system that is essentially the same age as the nearby Round Mountain deposit, a world-class low-sulfidation (LS) epithermal deposit. Both are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending and north-south structural control to veins. Both areas contain low-grade disseminated and high-grade vein or replacement-type mineralization.
Historical drilling has defined multiple zones of mineralization (Figure 2) and has been highlighted by multiple significant drill intercepts, including 41.2m of 6.4 g/t Au and 402 g/t Ag (GJ-81).
Figure 2: Historical Drill Holes and Mineralized Envelope along the Jefferson Canyon (“JF”) Fault
Soil sampling in 2021 revealed a four-square-kilometre circular gold-in-soil anomaly (Figure 3). The highest Au-in-soil value was 4,470 parts per billion Au and anomalous values were distributed as follows: 29 samples contained greater than 500 parts per billion Au; 99 samples were greater than 200 ppb Au; 234 samples were greater than 100 ppb Au; and, 631 samples were greater than 20 ppb Au. The five rock samples collected were anomalous, with values of up to 15.2 g/t gold and 421 g/t silver.
Figure 3: Gold-in-Soil and Silver-in-Soil Anomalies at Jefferson Canyon with historical drill collars
The CSMAT resistivity data suggests that the Jefferson Canyon fault is a deep structure which likely controls mineralization. This spatial relationship to the gold-silver mineralization supports the potential to expand the mineralized footprint both along strike and depth. A large conductor is evident down plunge along the northeast-dipping Jefferson Canyon fault.
Figure 4: CSAMT /Resistivity Model Showing the Projection of the Jefferson Canyon Fault at Depth
Link to Updated Jefferson Canyon Video
Key Remaining Terms of the Agreement:
- Kinross will continue making ongoing lease payments of US$75,000 per year for the term of the agreement.
- Kinross is required to spend US$600,000 on exploration work and will be responsible for making the payments to keep the unpatented claims in good standing.
- During the term of the agreement, Kinross has the option to acquire 70% of the project for a cash payment of US$5,000,000 to West Point Gold and form a joint venture LLC, and a second option to acquire an additional 10% of the project for a further payment of US$5,000,000 to the Company.
- The term of the Agreement is four years commencing from receipt of drill permits, with a potential extension of up to two years, subject to certain conditions. Drill permits were received on August 19, 2026.
- If an LLC is formed, and either party is diluted below 10%, its interest converts to a 1% net smelter returns (NSR) royalty.
Marketing Engagements
The Company has engaged New Era Publishing Inc. (“New Era”), also doing business as Katusa Research, an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Vancouver, B.C., New Era specializes in media and investor relations services within the natural resource sector. Under a consulting agreement dated September 8, 2026, New Era will provide media relations, investor communication and market awareness services to the Company for a two-month term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to New Era as compensation for its services. As of the date hereof, to the Company’s knowledge, New Era (including its directors and officers) does not own any securities of the Company. The marketing agreement with New Era is subject to TSX Venture Exchange approval.
Additionally, the Company has engaged Freedom Financial Research, LLC (“Freedom Financial”), an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Charlottesville, Virginia, Freedom Financial specializes in media and investor relations services. Under a consulting agreement dated September 11, 2026, Freedom Financial will provide media relations, investor communication and market awareness services to the Company for a 90-day term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to Freedom Financial as compensation for its services. As of the date hereof, to the Company’s knowledge, Freedom Financial (including its directors and officers) does not own any securities of the Company. The marketing agreement with Freedom Financial is subject to TSX Venture Exchange approval.
Qualified Person
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration, is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. The QP has not completed sufficient work to verify the historical information on the properties, particularly regarding historical drill results. However, the QP believes prior drilling and analytical results were completed in accordance with industry-standard practices.
About West Point Gold Corp.
West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.
West Point Gold is a research client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.