West Mining Options Kena Property to Upside Gold Corp: A Strategic Move for Value Creation

West Mining, a mining company focused on gold exploration and development, has recently entered into an option agreement with Upside Gold Corp for the Kena Property. This strategic move aligns with West Mining's overall exploration strategy and offers potential synergies with Upside Gold Corp's existing operations and expertise. The Kena Property, located in the prolific gold region of Kalgoorlie, Western Australia, presents significant geological and exploration prospects, making it an attractive target for both companies.

Under the terms of the option agreement, Upside Gold Corp has the right to earn a 70% interest in the Kena Property by spending $5 million on exploration and development over a three-year period. West Mining will retain a 30% interest in the project and will be responsible for funding its pro-rata share of the exploration and development costs. If Upside Gold exercises the option and earns a 70% interest in the project, it will have the right to form a joint venture with West Mining to further develop the property.

The Kena Property is situated near significant gold mining sites and has high gold potential, supported by nearby processing facilities. The property is underlain by the Kambalda Group, which is a sequence of mafic and ultramafic volcanic rocks known to host gold mineralization in the region. Upside Gold Corp's exploration efforts on the Kena Property have identified several high-priority targets, including the Kena North and Kena South prospects, which are characterized by strong gold-in-soil anomalies, coincident with geophysical anomalies, and are considered highly prospective for gold mineralization.



The option agreement aligns with West Mining's overall exploration strategy by providing access to a high-potential gold project in a favorable jurisdiction. By partnering with Upside Gold Corp, West Mining can leverage the latter's exploration and development expertise and financial resources to advance the project more quickly and efficiently than it could on its own. Additionally, West Mining's minority stake in the project provides it with the potential to participate in the value creation generated by Upside Gold's exploration and development efforts.

Upside Gold Corp's focus on the Kalgoorlie gold region, combined with its experienced leadership, positions it well to potentially discover and develop large-scale gold deposits. The company's exploration efforts on the Kena Property are focused on identifying and developing large-scale gold deposits, which could potentially create significant value for shareholders.

In conclusion, the option agreement between West Mining and Upside Gold Corp for the Kena Property creates a win-win situation for both parties, allowing them to share in the potential value creation generated by the project while leveraging each other's strengths and resources. The geological and exploration prospects of the Kena Property are promising, with high gold potential supported by nearby processing facilities. The property's location within the Kalgoorlie Terrane and the identification of high-priority targets make it a significant exploration opportunity for Upside Gold Corp. Compared to the company's other projects in the region, the Kena Property is considered to have a higher priority due to its strategic location and high gold potential.