Westhaven Commences Summer Drill Program ON the Shovelnose GOLD Project, Southern British Columbia
TSX-V:WHN
WESTHAVEN COMMENCES SUMMER DRILL PROGRAM
ON THE SHOVELNOSE GOLD PROJECT, SOUTHERN BRITISH COLUMBIA
Vancouver, B.C. – June 19, 2025 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce
that exploration drilling is underway at the Company’s 100% owned Shovelnose gold project in
the Spences Bridge Gold Belt of Southern British Columbia. Approximately 5,000 metres of
drilling is planned over the summer , with a focus on identifying new areas of low sulphidation
epithermal gold mineralization.
Ken Armstrong, President & CEO of Westhaven, stated, “ Summer exploration at Shovelnose is
now in full swing with the start of an expanded, 5,000m drilling program. Drilling will focus on
testing a number of ‘step change’ target areas where the discovery of new gold mineralization
would complement the South Zone, FMN and Franz gold deposits (please refer to the attached
plan map), which were the subject of a recently completed preliminary economic assessment of
the potential for a high grade, high margin underground gold mining opportunity at Shovelnose
(please see news release dated March 3rd, 2025 for details). As part of the drill program, we also
plan to complete at least one drill hole to provide additional geotechnical, geochemical and
metallurgical data on Vein Zones 1, 2 and 3, in the core of the South Zone.”
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
“Ken Armstrong”
Ken Armstrong, President and CEO , is responsible for this news release and can be reached at
604-681-5558.
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 and development company targeting low sulphidation,
high-grade, epithermal style gold mineralization within the Spences Bridge Gold Belt in southern
British Columbia. Westhaven controls ~61,512 hectares (~615 square kilometres) within four
gold properties spread along this underexplored belt. The Shovelnose Gold project is the most
advance property, with a recently updated 2025 Preliminary Economic Assessment that validates
the Project’s potential as a robust, low co st and high margin 11 -year underground gold mining
opportunity with average annual life -of-mine gold production of 56,000 ounces and having a
Cdn$454 million after- tax NPV6% and 43.2% IRR (base case parameters of US$2 ,400 per ounce
gold, US$28 per ounce silver and CDN/US$ exchange rate of $0.72). Initial capital costs are
projected to be Cdn$184 million with a payback period of 2.1 years. Please see Westhaven’s news
release dated March 3, 2025 for details of the updated PEA. Shovelnose is situated off a major
highway, near power, rail, large producing mines, pipelines and within commuting distance from
the city of Merritt, which result in lower cost exploration and development.
Qualified Person: The technical and scientific information in this news release has been reviewed
and approved by Peter Fischl, P.Geo, who is a Qualified Person for the Company under the
definitions established by National Instrument 43 -101 Standards of Disclosure for Mineral
Projects.
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.
Forward-Looking Statements
This news release contains "forward -looking statements" within the meaning of applicable securities legislation.
These forward-looking statements are made as of the date of this news release and Westhaven does not intend, and
does not assume any obligation, to update these forward-looking statements, except as required by law.
Forward-looking statements in this news release may include, but are not limited to, statements with respect to the
results of the Preliminary Economic Assessment, the Mineral Resource Estimate future planned activities, future
mineral production and futur e growth potential for the Company and its projects, the interpretation of preliminary
results from exploration undertaken to date at Shovelnose using various exploration techniques and analysis;
statements with respect to potential styles of epithermal mineralization at the Shovelnose Project; and the possibility
that the Company’s Shovelnose project may host multiple gold bearing epithermal systems; . In certain cases,
forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain actions, events or results "may", "c ould",
"would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made, and they are subject to known and unknown
risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed
or implied by such forward- looking statements or forward- looking information. Assumptions have been made
regarding, among other things, the price of gold and other precious metals; costs of exploration and development;
the estimated costs of development of exploration projects; the Company’s ability to operate in a safe and effective
manner and its ability to obtain financing on reasonable terms. Although management of Westhaven Gold Corp.
have attempted to identify important factors that could cause actual results to differ materially from those contained
in forward-looking statements or forward-looking information, there may be other factors that cause results not to
be as anticipated, estimated or intended. Many factors, both known and unknown, could cause actual results,
performance, or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward -looking statements or forward -looking information. Such factors
include, without limitation: the Company's dependence on one group of mineral projects; precious metals price
volatility; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team
and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance
to cover a ll risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to
generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and
unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries
and capital and operating costs of such projects; laws and regulations governing the environment, health and safety;
operating or technical difficulties in connection w ith mining or development activities; employee relations, labour
unrest or unavailability; the Company's interactions with surrounding communities; the speculative nature of
exploration and development, including the risks of diminishing quantities or grades of reserves; stock market
volatility; conflicts of interest among certain directors and officers; and the factors identified under the caption “Risk
Factors” in the Company’s management discussion and analysis. Mineral exploration involves a high degree of risk
and few properties, which are explored, are ultimately developed into producing mines. There can be no assurance
that such forward -looking statements or information will prove to be accurate, as actual results and future events
could differ materi ally from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward- looking statements and forward- looking information. The Company will not update any
forward-looking statements or forward- looking information that are incorporated by reference herein, except as
required by applicable securities laws.
Plan Map of Proposed Summer Drilling