Westhaven Appoints Anderson to Board of Directors and Grants Stock Options
Westhaven Appoints Anderson to Board of Directors and Grants Stock Options
VANCOUVER, British Columbia, Feb. 05, 2026 -- Westhaven Gold Corp. (TSX-V: WHN) (“Westhaven” or the “Company”)
is pleased to announce the appointment of Mr. Patrick F.N. Anderson to its Board of Directors as an Independent Director.
Eira Thomas, Chairperson of Westhaven, commented, “We are very pleased to welcome Patrick Anderson to Westhaven’s
Board. Patrick has an exceptional track record of discovery and development of world-class gold deposits, including the best-
in-class Fruta del Norte epithermal gold and silver deposit. Patrick’s strong technical background, together with his deep
capital markets experience, will strengthen the Board’s ability to support Westhaven’s management and technical teams as
we pursue our revitalized exploration and growth strategy within British Columbia’s Spences Bridge Gold Belt, including
development of the Shovelnose epithermal gold deposits. Patrick has a long history of creating meaningful shareholder value,
and we look forward to benefiting from his insight and leadership.”
Patrick Anderson, newly appointed Director of Westhaven, commented, “I’m excited to finally work with Westhaven’s team of
proven professionals, a group that I have known for my whole career. I’m excited to finally and for the first time have an
opportunity to work in and contribute to my home province of British Columbia. Lastly, I’m very excited to be able to help the
team push forward with more discoveries in this under explored epithermal camp. I love epithermal systems!”
Patrick Anderson is an entrepreneur and business executive with over 30 years’ experience in the global mineral resource
sector. He has held key roles across gold, base metals and diamond projects for junior explorers, major producers and
consulting firms in North and South America and Europe. His board experience includes companies listed on the TSX-V, TSX,
and LSE-AIM exchanges. Mr. Anderson is the founder, CEO and a director of Dalradian Resources Inc. where he has led the
discovery of over 6 million ounces of gold at the Curraghinalt deposit in Northern Ireland, resulting in a $537 million go-private
transaction. He previously co-founded and was President and CEO of Aurelian Resources Inc., overseeing discovery of the
13.7-million-ounce Fruta del Norte epithermal gold-silver deposit in 2006 which was subsequently acquired for $1.2 billion and
is now Lundin Gold’s flagship asset. Mr. Anderson has been named Mining Man of the Year by The Northern Miner and
received the PDAC’s Thayer Lindsley award for an international mineral discovery. He recently served as Lead Independent
Director for Osisko Mining in its $2.2 billion acquisition by Gold Fields Ltd., and is currently CEO of Dalradian Resources
(privately-held) and Chairman of Cornish Metals PLC.
Pursuant to the terms of the Company’s Equity Incentive Plan approved by shareholders at the Annual General Meeting held
June 24, 2025 the Company has granted a total of 7,025,000 incentive stock options to directors, officers, employees and
consultants of the Company. The stock options are exercisable to acquire one common share of Westhaven at $0.25 per
share and can be exercised until February 4, 2031. The grant includes 2,900,000 stock options allocated to directors; these
stock options vest on the grant date. The stock options granted to officers, employees and consultants vest in thirds over
eighteen months from the grant date, becoming fully vested August 4, 2027. Included in the grant are 200,000 incentive stock
options to Grignan Holdings Ltd. Dba Peterson Capital (Peterson Capital). These stock options have been granted as
additional compensation pursuant to an investor relations services agreement between Peterson Capital and the Company (as
announced in a Westhaven news release dated December 24, 20251). All grants are subject to regulatory approval.
The Company's Equity Incentive Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form
of incentive stock options and other types of share-based compensation. Following this grant of stock options there are
22,405,000 stock options outstanding, representing 8.6% of the Company’s issued and outstanding common shares. The
common shares issuable in connection with an exercise of stock options will be subject to applicable resale restrictions in
accordance with Canadian securities legislation and the policies of the TSX Venture Exchange.
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 ~60,263 hectares
within four gold properties spread along this underexplored belt.
The Shovelnose Gold project is the most advanced property, with a recently updated 2025 Preliminary Economic Assessment
that validates the project’s potential as a robust, low cost and high margin 11-year underground gold mining opportunity with
average annual life-of-mine production of 56,000 ounces gold and 313,000 ounces silver with a CDN$454 million after-tax net
present value (at a 6% discount rate) 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 CDN$1.00=US$0.72).2
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Robin Hopkins, P.Geol.
(NT/NU), Vice President, Exploration for Westhaven and a Qualified Person for the Company under the definitions established
by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
1 See Westhaven’s news release entitled “Westhaven Announces Grant of Incentive Stock Options and Peterson Capital
Engagement” and dated December 24, 2025.
2 See Westhaven's news release entitled "Westhaven Announces Updated Preliminary Economic Assessment for the
Shovelnose Gold Project, British Columbia" and dated March 3, 2025.
ON BEHALF OF THE BOARD OF DIRECTORS OF WESTHAVEN GOLD CORP.
“Ken Armstrong”
President & CEO
For further information, please contact:
Kaeli Gattens
Vice President Communications
T: 604-681-5558 E: [email protected]
Website: www.westhavengold.com
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.
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 future growth potential for the Company and its projects; the interpretation of preliminary results from exploration
undertaken to date at the Shovelnose project 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", "could", "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 all 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 with 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 materially 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.