Westhaven Gold Advancing Shovelnose Asset Through Systematic Exploration

• Westhaven Gold (WHN) focused on Spences Bridge Gold Belt in southwestern British Columbia.
• The company recently announced inaugural mineral resource estimate on their flagship property Shovelnose.
• Achieved 1.1 million ounces inferred and indicated gold resource, exceeding expectations.
• Currently drilling in the FMN zone; potential for a mid to end-year resource estimate.
• Emphasis on exploration, identifying high-grade intercepts, strengthening share value, considering financing options.

About Westhaven Gold

Westhaven Gold Corp. is a Canadian mineral exploration company focused on advancing its flagship Shovelnose gold property in southwestern British Columbia. With a newly announced inaugural mineral resource estimate of 1.1 million ounces of gold equivalent, Westhaven is poised to continue growing the value of this asset through further exploration.

Interview with President & CEO, Gareth Thomas

In a recent interview, Westhaven President and CEO Gareth Thomas provided insights into the company's latest milestones and outlook. Thomas expressed satisfaction with surpassing the 1 million ounce gold equivalent milestone, with 75% in the indicated category at approximately 840,000 ounces. This major feat represents a derisking of the asset and establishes a solid base from which to build upon through additional discovery.

Expanding Existing Zones and New Discovery Potential

According to Thomas, Westhaven is still very much an exploration story with significant blue sky potential. For 2022, the focus is on expanding the South Zone resource and making new discoveries. Drilling is currently underway at the Forget-Me-Not zone, located 2-2.5 km from the South Zone resource. Early results have revealed broad widths of high-grade mineralization, including 27 meters of nearly 2g/t gold and 4.5m of almost 6g/t. Westhaven believes this zone could potentially host a standalone resource by mid-late 2022.

Prudent Cash Management

Despite headwinds in the junior mining space, prudent cash management will enable Westhaven to execute on its value-add exploration plans throughout 2022 and into 2023 if needed. A tight capital structure and strategic deployment of capital into high priority drill targets will allow the company to extend its runway while avoiding dilutive financings in a depressed market environment.

Anticipated News Flow

With approximately 30 pending drill results, Westhaven anticipates a steady news flow in the coming months. In addition to expanding existing zones, first pass drilling will test new regional targets across the highly prospective Shovelnose property and neighboring prospects. An upcoming announcement outlining the fully integrated exploration program should provide additional clarity into Westhaven's systematic approach for discovery.

Investment Thesis

Overall, through systematic exploration guided by the fundamentals, Westhaven is positioned to potentially build upon its maiden resource through new discoveries. Savvy investors may consider positioning early to capitalize on blue sky opportunities and potentially ride the next leg up in this exploration story. As Westhaven works towards advancing and de-risking Shovelnose and its additional assets, the company aims to continue creating lasting shareholder value.

Risks & Opportunities

Risks

• Exploration and development risks - Mineral exploration is inherently risky, and there is no guarantee Westhaven will discover additional resources or be able to develop Shovelnose into a profitable mining operation.
• Commodity price risks - As a gold exploration company, Westhaven is exposed to fluctuations in the gold price which could impact project economics.
• Financing risks - Westhaven may need to raise additional capital in the future, which could lead to dilution for current shareholders. Market conditions may also make raising capital challenging.
• Execution risks - Westhaven's ability to execute on its exploration and development plans is dependent on hiring qualified personnel, securing drill contractors, obtaining permits, etc. Any issues with execution could delay the project.

Opportunities

• Resource expansion - There is significant potential to expand the existing 1.1M oz resource through additional drilling along strike and at depth. New discoveries could also bolster the resource.
• High-grade discovery potential - Early drilling has intersected high grades which could point to the potential for Westhaven to delineate zones of exceptional grades.
• Future acquisition target - As Westhaven continues to de-risk Shovelnose and grow the resource, it could become an attractive M&A target for a larger company looking to acquire a quality asset.
• Experienced management - Westhaven's technical team has a strong track record of exploration success, providing confidence in their ability to create shareholder value.
• Potential upside from exploration success - Should Westhaven make a major new discovery or significantly expand the resource, it could positively re-rate the stock and deliver strong returns.