West Mining Corp Enters Option Agreement for Kena Property

West Mining Corp, a mineral exploration company, has signed an option agreement with Upside Gold Corp, allowing the latter to acquire a 100% interest in the Kena Property. The deal, announced on January 22, 2025, involves several financial commitments. Upside Gold is to make cash payments totaling $2 million by 2028 and issue $3 million worth of its common shares to West Mining.

Additionally, Upside Gold is required to invest $3.5 million in exploration expenditures on the Kena Property by January 20, 2028. This agreement provides West Mining the flexibility to focus on its Spanish Mountain and Junkers projects while benefiting from Upside's exploration commitments.

CEO Nader Vatanchi remarked on the mutual benefits expected from the transaction. Upside Gold Corp is a private company in Alberta and maintains an independent relationship with West Mining. The value of the shares is subject to market conditions and previous equity financing results.