Westhaven Gold extends high-grade gold and silver mineralization at Shovelnose Gold Property, southern British Columbia

Westhaven Gold Corp. [TSXV: WHN; OTCQB: WTHVF; FRA: 1W5] reported the fifth batch of assay results from the ongoing 35,000-metre resource infill drilling program, presently supported by four drill rigs at the South Zone gold and silver deposit on the Shovelnose gold property in southern British Columbia.

Ken Armstrong, President and CEO of Westhaven, commented: “This latest batch of assays from ongoing resource infill drilling includes two drill holes that confirm the presence of thick, high-grade gold and silver mineralization both below and at the southeastern margin of the South Zone deposit. Drill hole SNR26-117 is of particular importance as its 10-metre interval grading 12.18 g/t Au and 103 g/t Ag has extended mineralization below the deepest proposed mining stopes in Westhaven’s 2025 preliminary economic assessment. Similarly, SNR26-110, returning 37.34 metres grading 6.24 g/t Au and 55 g/t Ag, has confirmed thick, high-grade mineralization at the southeastern edge of the deposit. Follow up drilling is required in the vicinity of both of these holes where there is clearly potential to increase contained ounces in the South Zone deposit.”

Highlight results reported today include intersections of 37.34 metres grading 6.24 g/t Au and 55 g/t Ag (SNR26-110) in the southeastern part of the South Zone deposit, and 10.04 metres grading 12.18 g/t Au and 103 g/t Ag (SNR26-117) located below the proposed mine development in Westhaven’s 2025 PEA.

In addition to the infill resource drilling, the 2026 field program continues with exploration drilling and surface field work within the greater Shovelnose property area and is expected to continue through mid-December. This work is being funded under a strategic earn-in agreement whereby Dundee Corp. [TSX: DC-A] may earn up to a 60% interest in Westhaven’s four Spences Bridge Gold Belt properties through up to CDN$85,000,000 in staged project expenditures. Under the first phase, Dundee has committed a minimum of CDN$30,000,000, inclusive of a fully funded 50,000-metre resource infill and exploration drill program and ongoing pre-feasibility study (PFS) work at Shovelnose.

Assay results from the ongoing 35,000-metre resource infill drilling program at the South Zone deposit continue to show excellent continuity of mineralization in each of Vein Zones 1, 2 and 3. Results have been received from an additional six infill drill holes and are reported below.

The resource drilling program has been designed to infill the deposit at nominal 25-metre centres with results to be included in an updated mineral resource estimate to support a PFS targeting completion in H2 2027. To date, 85 drill holes (26,581m) have been completed representing approximately three-quarters of the planned program metreage.

Reported assay intervals represent downhole intersections, not true widths. True widths can be estimated at approximately 70-80% of the reported intervals.

Drill hole ANR26-110 returned 5.98 metres grading 1.86 g/t gold and 1.6 g/t silver, 37.34 metres at 6.24 g/t gold and 54.7 g/t silver and 6.00 metres  at 3.50 g/t gold and 4.7 g/t silver.

SNR26-111 returned 2.00 metres at 1.03 g/t gold and 3.0 g/t silver and 4.50 metres at 2.29 g/t gold and 8.1 g/t silver.

SNR26-112 returned 2.00 metres at 4.56 g/t gold and 10.9 g/t silver and 7.50 metres at 1.57 g/t gold and 9.2 g/t silver.

SNR26-115 returned 2.00 metres at 1.63 g/t gold and 6.9 g/t silver. SNR26-117 returned 10.04 metres at 12.18 g/t gold and 102.7 g/t silver.

SNR26-118 returned 2.00 metres at 1.20 g/t gold and 4.1 g/t silver and 4.40 metres at 1.50 g/t gold and 6.5 g/t silver and 4.80 metres at 2.20 g/t gold and 3.0 g/t silver.

Westhaven is a gold and silver focused exploration and development company targeting low sulphidation, high-grade, epithermal style gold and silver mineralization within the Spences Bridge Gold Belt in southern British Columbia. Westhaven controls ~60,263 hectares within four properties spread along this underexplored belt.

The Shovelnose gold and silver project is the most advanced property, with a 2025 updated 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/oz gold, US$28/oz silver and CDN/US$ exchange rate of CDN$1.00=US$0.72).