Westhaven Files Technical Report IN Support of Updated Preliminary Economic Assessment FOR the Shovelnose GOLD Project, British Columbia ______________________________________________________________________________________________
WESTHAVEN FILES TECHNICAL REPORT IN SUPPORT OF UPDATED PRELIMINARY ECONOMIC
ASSESSMENT FOR THE SHOVELNOSE GOLD PROJECT, BRITISH COLUMBIA
______________________________________________________________________________________________
Vancouver, B.C. – April 17th, 2025 – Westhaven Gold Corp. (TSX-V:WHN) (“Westhaven”) announces that
it has filed an independent technical report pursuant to National Instrument 43-101 - Standards of
Disclosure for Mineral Projects (“NI 43-101”) supporting the Updated Preliminary Economic Assessment
(the “Updated PEA”) for its 100% owned Shovelnose Gold Project, under the Westhaven profile on Sedar+
(www.sedarplus.com). The Company’s news release dated March 3, 2025 summarizes the positive results
of the Updated PEA for the Shovelnose Gold Project, located within the prospective Spences Bridge Gold
Belt, bordering the Coquihalla Highway approximately 30 kilometres south of Merritt, British Columbia.
The Technical Report, titled “Updated Preliminary Economic Assessment and Mineral Resource Estimate
of the Shovelnose Gold Project, British Columbia” was prepared by James L. Pearson, P.Eng., D. Grant
Feasby, P.Eng., Yungang Wu, P.Geo., Antoine Yassa, P.Geo., Brian Ray, P.Geo., Jarita Barry, P.Geo.,
Alexander Partsch, P.Eng., Dipl.-Ing, MBA, William Stone, Ph.D., P.Geo., and Eugene Puritch, P.Eng., FEC,
CET of P&E Mining Consultants Inc., Brampton, Ontario (“P&E”), all Independent Qualified Persons as
defined by NI 43-101. The technical report includes descriptions of important assumptions, and the
justifications for them, made by the Qualified Persons who prepared the Updated PEA, and upon which
the Updated PEA results are based. The Updated PEA is preliminary in nature and includes Inferred
Mineral Resources that are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be classified as Mineral Reserves, and there is no certainty
that the Updated PEA will be realized. Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability. There is no guarantee that Westhaven will be successful in obtaining
any or all of the requisite consents, permits or approvals, regulatory or otherwise, for the Shovelnose
Gold Project to be placed into production. The Updated PEA has an effective date of February 28, 2025,
and the report is dated April 17th, 2025. Mr. Puritch has reviewed and approved the technical contents of
this news release.
The technical report can also be found on the Westhaven website (https://www.westhavengold.com/ ).
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Gareth Thomas”
TSX-V:WHN
Gareth Thomas, President, CEO & Director
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 targeting low sulphidation, high-grade, epithermal style gold
mineralization within Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls ~61,512
hectares ( ~615 square kilometres) with in four gold properties spread along this underexplored belt. The
Shovelnose Gold project is the most advance property, with an 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 gold production of 56,000 ounces and having a Cdn$454 million
after-tax NPV6% and 43.2% IRR (base case parameters of US$2400 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 rd, 2025 (Link: March 3, 2025 News Release )
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 translates into low-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