Darcy Marud
President & CEO | Western Exploration Inc. | Nevada Gold-Silver Explorer
"Leading Western Exploration's Nevada gold-silver projects with major-company pedigree from Yamana Gold"
Biography
Darcy Marud is the President, CEO, and Director of Western Exploration Inc. (TSX-V: WEX; OTCQX: WEXPF), a Nevada-focused precious metals exploration company with over 25 years of operating history. Under Marud's leadership, Western Exploration is advancing its principal asset — the 100%-owned Aura gold-silver project — with the ambitious goal of becoming a premier precious metals development company in North America. The company has garnered significant institutional backing, including strategic support from Agnico Eagle, one of the world's leading gold producers.
Prior to joining Western Exploration, Marud built an impressive career in the mining industry, most notably serving as Senior Vice President of Exploration at Yamana Gold and Executive Vice President of Enterprise Strategy. His tenure at Yamana, a major mid-tier gold producer before its acquisition by Pan American Silver and Agnico Eagle in 2023, provided him with deep expertise in both the technical and strategic dimensions of gold exploration and mine development. This background gives Marud a rare combination of geological acumen and corporate strategy experience that he now applies to advancing Western Exploration's Nevada assets.
Western Exploration's key projects include Gravel Creek, a high-grade underground target that has generated considerable investor excitement with new high-grade drill results, and Doby George, a near-surface oxide project. Both projects are located in Nevada, one of the world's most prolific and mining-friendly gold jurisdictions. Marud has been a frequent presenter at major resource investment conferences, including the Vancouver Resource Investment Conference (VRIC) and the Metals Investor Forum, where he has engaged with prominent mining analysts and newsletter writers such as Brien Lundin of Gold Newsletter and Jeff Clark of The Gold Advisor.
For mining stock investors, Marud represents the type of experienced exploration executive worth following — one who combines major-company pedigree with the entrepreneurial drive of a junior explorer. His ability to articulate a clear development pathway for Western Exploration's assets, coupled with the backing of a major gold producer like Agnico Eagle, makes his company and his commentary relevant to investors tracking Nevada gold plays and emerging precious metals developers.
Videos (2)
Western Exploration: Mine Plan of Operations Submitted for a $115M CapEx Nevada Gold Mine
- Top takeaway The CEO argues the Dobby George mine plan of operations filing is the turning point for Western Exploration, starting the permitting process that leads to development and production.
- He draws a parallel between Gravel Creek and El Peñon in Chile, which he helped discover: El Peñon began with only about a six-year mine life and grew through continued drilling, and he sees the same signs of a large, robust system — a wide exploration footprint, strong alteration and good grades — at Gravel Creek.
- He frames the company as a two-track story in which Dobby George development work and Gravel Creek resource growth keep news flow running even when engineering normally causes it to plateau.
- For the next 12 months he directs investors to Dobby George milestones: working with the Forest Service on permitting, completing the hydrological study, and a power-supply feasibility study available in the October timeframe.
- He says Gravel Creek is intentionally not the current focus while resources go to a successful Dobby George start, but behind the scenes metallurgy and drill plans are being readied for a very large drill program to be announced in the next quarter or so.
Western Exploration's filed Mine Plan of Operations starts the federal permitting clock for Doby George, moving the Nevada gold deposit toward development. The mine plan of operations — the official development blueprint a regulator reviews — is what kicks off federal permitting with the Forest Service. CEO Darcy Marud says pairing Doby George development with Gravel Creek exploration keeps news flow and resource growth running when engineering plateaus. Gravel Creek already holds a million ounces from only 90 holes, and Marud sees El Peñon-like system scale in its footprint. Over the next two to four quarters, watch permitting progress, a hydrological study, and an October power-supply feasibility study at Doby George.
Darcy Marud of Western Exploration presents at Metals Investor Forum in Vancouver | January 2026
Darcy Marud, CEO and President of Western Exploration, presents company updates at the Metals Investor Forum in Vancouver, offering direct insights into operations and strategy. Western Exploration trades on the TSX-V under WEX and OTC under WEXPF, providing investors exposure to a vetted junior mining company with promising properties. The Metals Investor Forum features highly vetted companies selected by newsletter writers for having excellent management teams, strong financials, and promising properties.
Key Quotes
"Western Exploration is aiming to be a premier gold and silver development company in North America."
— Metals News interview
"The company will have significant catalysts for investors in 2025 as it advances its premium gold assets in Nevada."
— Metals Investor Forum Vancouver interview with Jeff Clark
Key Works
Investor presentation detailing the high-grade underground potential at Gravel Creek and the at-surface oxide opportunity at Doby George in Nevada.
Discussion with Gold Newsletter's Brien Lundin covering Western Exploration's exploration progress and catalysts.
In-depth conversation with The Gold Advisor's Jeff Clark about the Aura project and Nevada gold-silver development strategy.
Specializations
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