Westhaven Gold Corp. Files Technical Report for the Shovelnose Gold Project

Westhaven Gold Corp. (TSX-V: WHN) is pleased to announce that it has closed the final tranche of the non-brokered private placement announced on February 20, 2024. Westhaven has issued a total of 7,926,182 common shares that qualify as "flow-through shares" of the Company for the purposes of the Income Tax Act (Canada) (the "FT Common Shares") at a price of C$0.23 per FT Common Share for aggregate gross proceeds of $1,823,022.

Proceeds from the Offering will be used to incur "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Westhaven's projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers of the FT Shares with an effective date of no later than December 31, 2024.

Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that exploration drilling has commenced on its flagship, high-grade 17,623-hectare Shovelnose Gold Property, located 30 kilometres (km) south of Merritt, British Columbia, adjacent to the Coquihalla Highway and within the prospective Spences Bridge Gold Belt (SBGB).

A preliminary economic assessment(" PEA") from the South Zone, the first of six prospective zones of mineralization identified at Shovelnose since 2018, was announced on July 18, 2023 ( Link to News Release ). The PEA identified a robust, low-cost, high margin mining opportunity delivering a post-tax IRR and NPV (6%) of 32.3% and $222 Million, respectively, using a gold price of $1800 per ounce. Additional resource modelling on adjacent discoveries drill tested in 2023, proximal to the South Zone, including at Franz and FMN, remains ongoing.

Westhaven Gold Corp. (TSX-V: WHN) is pleased to announce that it has closed Tranche 1 of the non-brokered private placement announced on February 20, 2024. The Company issued a total of 6,915,313 common shares that qualify as "flow-through shares" of the Company for the purposes of the Income Tax Act (Canada) (the "FT Common Shares") at a price of C$0.23 per FT Common Share for aggregate gross proceeds of $1,590,522.

Proceeds from the Offering will be used to incur "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Westhaven's projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers of the FT Shares with an effective date of no later than December 31, 2024.

Westhaven Gold Corp. (TSX-V: WHN) is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, up to 10,000,000 million flow-through (FT) common shares of the Company at a price of $0.23 per FT share for gross proceeds of up to $2,300,000.

The gross proceeds from the Offering will be used to incur "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Westhaven's projects in British Columbia, Canada. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2024.

Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce it has received its 650 drill hole permit on its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.

Gareth Thomas, President & CEO, states: "Receiving this 5-year, 650 drill hole permit, is a major milestone for Westhaven. This gives us further opportunity to test the true scale and potential of the Shovelnose project. We are thankful for the ongoing support of the local communities and stakeholders. We look forward to continued engagement and growing the working relationships within the Nlaka'pamux Traditional Territory as we move the Shovelnose project forward." Thomas goes on to add, "In 2023, our technical team identified several new gold mineralized areas of interest. We are prioritizing these targets with intent to drill them in the near-term."