Gold Explorer Expands Strike Zone at Gold Chain to 400m

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQB) announced new results from its step-out drilling at the high-grade Northeast (NE) Tyro Zone within its Gold Chain Project in Arizona, according to an April 28 release.

The company reported that drilling in hole GC26-140 yielded an 18.3-meter interval with a gold grade of 6.05 grams per tonne (g/t). These results represent significant extensions, expanding the mineralization by over 100 meters along strike and similarly in depth from previously reported findings.

The NE Tyro Zone now boasts a strike length of over 400 meters and extends to depths greater than 300 meters, while still remaining open in all directions, West Point said. To date, the company has completed 17,536 meters of drilling in the ongoing program at the Gold Chain project, with results still pending for 29 holes across multiple targets including the Tyro Main Zone, NE Tyro, Bull 8, and Black Dyke, totaling 5,424 meters.

"The continued expansion of the high-grade zone at NE Tyro bodes well for the maiden resource," President and Chief Executive Officer Derek Macpherson said. "Additionally, as this zone expands towards the Frisco Graben, it increases the probability of the Frisco Graben hosting a gold deposit."

He continued, "It appears that the consistency of grade and structure, both along strike and at depth, suggests that we are unlikely to close off this zone with the planned maiden resource later this year. We continue to be on track to complete the ongoing 20,000-meter drill program at Gold Chain in Q2 this year and have results pending from multiple zones,

Significant highlights from the drilling include the extension of the high-grade zone at NE Tyro to a 400-meter strike length, with notable gold values such as 7.83 g/t found up to 300 meters below the surface. Specifically, hole GC26-140 revealed 18.3 meters of 6.05 g/t gold from a depth of 181.4 meters to 199.6 meters, located beneath a broad sand-filled wash between the NE Tyro zone and the Frisco Mine fault, which is a key structural boundary of the Frisco Graben target. Another hole, GC25-151, encountered 35.1 meters of 2.23 g/t gold from 167.6 meters to 202.7 meters, positioned approximately 75 meters northeast of GC26-140 and about 150 meters below the surface alluvium.

Currently, West Point Gold said it is utilizing three drilling rigs (two reverse circulation and one core) to further explore the Tyro Main and NE Tyro targets. This intensive drilling effort aims to enhance the company's understanding of the Tyro deposit's continuity along strike, its depth, and internal characteristics.

An Aggressive Exploration Strategy

The extension of the vein system brings the drilling operations closer to the Frisco Mine fault and the altered volcanic rocks of the Frisco Graben, the company said. The latest results from four holes, which together comprise 1,196 meters of reverse circulation (RC) drilling, have notably expanded the understanding of the mineralized zone.

These drilling efforts are part of West Point Gold's aggressive exploration strategy utilizing three drilling rigs to further explore the vein system along its entire strike length and at depth in the NE Tyro zone. The goal is to extend the limits of gold mineralization from surface vein exposures and laterally towards the northeast. This ongoing work is expected to continue through May and will likely surpass the planned 20,000-meter drill program.

The geological insights gained from these operations are crucial as they not only enhance the understanding of the NE Tyro zone's potential but also increase the likelihood of discovering a significant gold deposit in the adjacent Frisco Graben area, West Point noted. The continuation of this exploration is set to provide further data to support the development of these promising targets.

West Point Gold is a mining exploration company headquartered in Vancouver, that focuses on gold mining in the American Southwest. The company's flagship project, Gold Chain, is in Arizona, and it holds three targets in Nevada — all of which fall along the Walker Lane Trend.

West Point cited the ongoing drill program at Gold Chain as a catalyst for upcoming investment, with results from several holes still outstanding.

Development of its Jefferson Canyon partnership with Kinross Gold Corp. (K:TSX;  KGC:NYSE) is also underway.

The project is awaiting permit approval, and the company hopes to implement a 5,000-meter drill program at the Baxter Spring site. Its Tip Top site is also being prepped for drilling.

A New 'Ten-Bagger?'

In sponsored content for the Equedia Letter published on April 27, Carlisle Kane said the company is following a similar narrative to other multiple "ten-baggers" in the past.

"It always starts with a small company," Kane wrote. "Then drill holes. A clear geological model. And a skeptical market. Then, hole by hole, the rocks start to talk, and the system comes into focus. And somewhere along the line, a major steps in with an offer that would’ve been unthinkable a year prior."

West Point currently exemplifies that narrative with its Gold Chain Project in northwestern Arizona, the author noted. Situated on an 11,760-acre land package, the project features a large-scale low-sulfidation epithermal gold system.

While Nevada often comes to mind first for such gold systems, Arizona outpaced Nevada in non-fuel mineral production in 2022 and is consistently ranked among the top global mining jurisdictions by the Fraser Institute, Kane said. This favorable setting includes cooperative regulatory bodies and crucial water rights, which are vital for mining operations.

West Point Gold's strategic location on the southern extension of the Walker Lane Trend, close to Las Vegas, positions it advantageously with excellent infrastructure and regulatory support. Despite a market capitalization of less than CA$200 million, the company's potential for growth is significant, the report noted.

On the ground, West Point Gold has been proactive in drilling, with about 120 holes totaling more than 35,000 meters drilled since 2024, achieving an over 80% hit rate. This success is attributed to a methodical approach that starts with known mineralized structures at the surface and expands from there, Kane said. Recent drilling at the Black Dyke and Sheep Trail targets has shown promising results, with Sheep Trail revealing a strike length of over 1 kilometer of shallow, near-surface mineralization, indicating a third potential resource area on the property.

With the current high gold prices, West Point Gold is positioned to potentially establish one of the lowest-cost, high-margin gold operations in the U.S., Kane said. The company is fully funded through its 20,000-meter drill program and is on track for a maiden resource estimate later this year. The potential for a significant takeover value is underscored by the projected resource estimates and the high premiums typically paid for high-grade oxide gold in favorable jurisdictions.

Looking ahead, West Point Gold is set for a series of catalysts including ongoing drill results, pending assays from new targets, and the anticipated maiden resource estimate.

The company's strategic advantages, combined with strong leadership and significant exploration potential, make it a standout in the junior mining sector, the Equedia Letter said. As Macpherson aptly put it, according to Kane, "Pre-resource, we're a white pony with a little horn-nub. Once that resource comes out, we could be a unicorn."

Stock Has Seen Remarkable Growth

West Point ranked 35th overall on this year's TSX Venture 50 list, experiencing a remarkable 334% increase in share price and a 616% growth in market capitalization last year.

The list is compiled annually to rank the top performers from over 1,600 companies listed on the TSX Venture Exchange. The rankings are based on three key performance indicators: one-year share price appreciation, market cap growth, and Canadian consolidated trading value. This year, due to a tie in the ranking system, the list includes 51 companies.

According to FactSet on April 21, 2026, SCP Equity Research analyst Brandon Gasper gave West Point Gold a Buy rating with a CA$2.40 target price. FactSet also noted that on April 23, 2026, ATB Cormark Capital Markets analyst Nicolas Dion also gave the company a Buy rating, with a CA$2.75 target price.

Gold Market Looks for Stable Footing

Since the beginning of the Iran war in late February, gold has seen a nearly 11% decrease in value, yet the precious metals market continues to present investment opportunities, as detailed in a MarketWatch report by Myra P. Saefong on April 27. The conflict in the Middle East has led to a surge in oil prices, which is expected to boost the attractiveness of gold, according to industry experts.

Michael Armbruster, co-founder and managing partner at Altavest, told MarketWatch that sustained high energy prices could hinder economic growth in the upcoming months, potentially making the latter half of the year more conducive for investing in gold. Gold's reputation as a safe haven during economic instability, coupled with its recent price reduction from peak levels earlier in the year, enhances its appeal.

In the most recent trading session on Comex, the active June contract for gold futures closed at US$4,693.70 an ounce, reflecting a 1% decrease for the session and a significant 10.6% fall from the February 27 settlement of US$5,247.90. Although gold prices initially rose on the first trading day after the war commenced, they recorded their first monthly decline since the previous June in March, marking the sharpest monthly drop in nearly 13 years, as per Dow Jones Market Data.

Stefan Gleason, president and CEO of Money Metals Exchange, observed that the fluctuating gold prices since the onset of the war are typical of market behavior during crises. Saefong noted that gold initially spiked due to geopolitical concerns and its status as a safe-haven asset but subsequently declined as the market adjusted to immediate liquidity needs and growing concerns over inflation and potential shifts in the Federal Reserve’s interest rate policies. Currently, the prices based on the most active gold contract are trading 12.4% below the record intraday high of USUS$5,626.80 from January 29.

The gold market is currently experiencing difficulties in stabilizing as expectations that interest rates will remain unchanged continue to dominate market sentiment, Neils Christensen wrote for Kitco News on April 28. This situation could potentially lead to increased selling pressure, especially as consumer confidence shows signs of improvement. According to the latest data released by the Conference Board, the Consumer Confidence Index rose to 92.8 in April, surpassing economists' expectations of a decline to 89 and marking an increase from February's revised figure of 91.2.

Dana M. Peterson, chief economist at The Conference Board, commented on the slight increase in consumer confidence, noting that it remained relatively stable despite concerns about rising gasoline prices due to escalating Brent crude oil prices amid the ongoing conflict in the Middle East. Peterson pointed out that while there was a moderate decline in consumer appraisals of current and expected business conditions compared to the previous month, this was balanced by slight improvements in perceptions of the labor market and income expectations, which appeared slightly more optimistic in April.

In response to the unexpectedly positive consumer sentiment data, gold prices faced significant selling pressure during the early North American trading session, with spot gold prices dropping to US$4,571.50 an ounce, a decline of more than 2% on the day.

Despite a current ceasefire in the Middle East providing some relief from economic anxieties, consumers remain cautious. The report indicated that both average and median 12-month inflation expectations slightly decreased but remained high. Additionally, nearly 50% of consumers now anticipate that interest rates will rise over the next 12 months, reflecting ongoing concerns about the economic outlook.

Ownership & Share Information¹

West Point Gold Corp. has a market cap of CA$212.2 million, with 135.16 million shares outstanding. The company's 52-week range is CA$0.29 to CA$2.17.

Management and insiders own about 6.2% of shares, while about 25.9% of shares are held by institutions. The rest is retail.