Westhaven Provides an Exploration Update on the Shovelnose Gold Property; Discovers a new Vein Zone at Carmi

June 3, 2024

VANCOUVER, British Columbia, June 03, 2024 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V:WHN) is pleased to provide an exploration update on its road accessible, 17,623-hectare Shovelnose gold property, situated within the prospective Spences Bridge Gold Belt (SBGB), 30 kilometres south of Merritt, British Columbia.

Following receipt of a 5-year, 650-hole drilling permit, Westhaven initiated a 4,000m drilling campaign at Shovelnose on March 20, 2024, focused on evaluating newly defined structural targets, primarily within and along the highly prospective, 4km long, Zone One Trend, host to the South Zone resource where a positive preliminary economic assessment (“PEA”) was announced on July 18, 2023. https://www.westhavengold.com/news-and-media/news/news-display/index.php?content_id=339

The ongoing drill campaign is testing seven target areas, including Line 6 and Hydrothermal BX-02. The aim of this program is to both extend the zones of known mineralization and test prospective new targets identified from recent structural analysis and prospecting efforts.

Highlights from the ongoing Exploration Program Include:

Discovery of a new vein zone at Carmi (HydroBx05) drill target (assays pending), approximately 1km southwest of the South Zone. Please see map below.
Prospecting led to a notable quartz, bedrock discovery (Certes Showing) ~6 kilometres southeast of known mineralization and could be southeastern extension of the Zone One Trend. Please see pictures below. Grab sample assays pending.
Prospecting has led to another notable quartz, bedrock discovery (Agate Showing) ~2km to the south of the Zone One Trend where elevated pathfinder elements suggest these rocks are from the higher levels of an epithermal system.
3 out of 4 drill holes being reported intersected the targeted vein zones, intersecting anomalous gold and silver mineralization. The strike of the MIK zone remains open both to the north and south.

Gareth Thomas, President & CEO, states, “Testing new structural targets within and outside of the main 4km Zone One Trend was the first objective to start the 2024 exploration program. The second objective was to continue to focus our efforts on property wide prospecting, sampling, and mapping to generate new zones of interest well outside of the main discovery and resource areas. Both objectives were successfully achieved through two new quartz-bedrock discoveries 2km and 6km away from the Zone One Trend, and the drill intersecting vein zones in all but one hole.”

Prospecting Update

Fraser MacCorquodale, Technical Advisor, states, “In my prior position, we looked at roughly 300 gold prospects over the last 7 years. The Shovelnose was one of the few that stood out as you have the earmarking’s of a sizable, well mineralized system, including both wide veins and high grades within a very under explored district.” Mr. MacCorquodale served as the General Manager of Exploration at Newcrest Mining Limited (“Newcrest”) from 2008 to 2023.

Work undertaken in 2024 is targeting the southeastern part of the property. Two previously unknown bedrock occurrences with significant volumes of quartz veining/brecciation have been discovered so far this season. One of the occurrences comprises outcrops and float scattered along a geophysical and topographical inferred structure with a strike length of over 1km and an apparent width of 100m – prospecting activities are ongoing in this area of interest. These initial early season new bedrock discoveries are important because they support gold, silver and pathfinder anomalies identified in stream, soil, and rock samples, as well as banded colloform quartz veining in float (up to 0.52 g/t Au) that could not have come from known mineralization situated ~6km to the northwest. These areas could potentially be the southeastern extension of the Zone One Trend, or they could represent different epithermal systems.

Drilling Update

Westhaven is reporting assays for 4 drill holes from its ongoing drill campaign. The company is currently on the 8^th drill hole of the program. Of the 4 holes being reported, 3 successfully intersected the targeted vein zones.

Drillhole SN24-400 intersected vein zone 1 from 259m to 271m downhole. There were multiple intervals of anomalous gold mineralization higher in the hole potentially indicating this vein zone 1 intercept is deeper in the system. Drillhole SN24-401 intersected two weakly mineralized zones at the MIK zone target. Future drilling in the MIK will target this zone along strike. Drillhole SN24-402 intersected a newly recognized gold mineralized vein zone, the MIK West zone, from 173.8m to 183.4m downhole.

The drill is currently at the Carmi Target, located approximately 1km to the southwest of the South Zone. The target is coincident with a resistivity anomaly, striking northwest-southeast, and at least 800m in length. The drill will be moving to the Line 6 Target once the current hole is complete.

For a table of 2024 drill results please click here:

https://www.westhavengold.com/_resources/shovelnose/Shovelnose-2024-Drilling-Assay-Summary.pdf

Line 6 Drill Target

The presence of similar styles of mineralization at Line 6, might suggest the presence of a buried zone of mineralization similar to the main trend. The historical holes at Line 6, as they were drilled, would have missed the buried mineralization if it is similarly oriented to the main trend. The objective is to test the Line-6 target for a larger underlying epithermal system, similar to the Zone One Trend.

Line 6 Drill Target

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

“Gareth Thomas”

Gareth Thomas, President, CEO & Director

Qualified Person Statement

Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.

QA/QC

Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com.

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