Westhaven Gold Corp Poised to Unlock Value in B.C.’s Spencer’s Bridge Gold Belt

• West Haven Gold (WHN) focuses on Southwestern British Columbia's Spencer's Bridge gold belt.
• The company raised $10 million CAD through Franco Nevada, involving a 2% NSR sale on all four projects, an equity raise, and a 2.5% NSR sale on Talister ground.
• The funding from Franco Nevada provides strong financial support and a 30% return on hard dollars invested in the ground.
• West Haven Gold is actively drilling at two projects: Skoonka Creek and Shovelnose, with positive drilling results.
• The company aims to continue drilling on Shovelnose, assess Skoonka Creek results, and work on other projects, aiming for continued exploration and growth despite market challenges.

West Haven Gold Corp is focused on exploring and developing its portfolio of gold properties in the emerging Spencer’s Bridge gold belt in southwestern British Columbia. With a strong cash position and active drill programs underway, the company is well positioned to create value for investors through new discoveries.

Recent Capital Raise Provides Runway for Exploration

In a recent interview, President, CEO and Director Gareth Thomas highlighted the company’s capital raise completed in September 2022. West Haven sold a 2% net smelter return royalty on its four main projects to Franco-Nevada for $6 million USD (over $10 million CAD). This deal also included a $1 million equity investment from Franco-Nevada.

According to Thomas, this capital injection gives West Haven a runway of at least one year to continue exploration, even in the current cautious market environment. With two drill rigs operating currently, the company is set up well to generate a steady stream of results.

Active Drilling Across Key Projects

A primary area of focus for West Haven is its flagship Shovelnose gold project, where resource delineation and expansion drilling is ongoing. The company is also drilling its Skoonka Creek project for the first time ever. Early results from Skoonka Creek are promising, helping demonstrate the larger potential of the district.

Thomas noted that West Haven has hundreds of targets identified across its extensive land package. Systematic exploration of these targets presents substantial upside and the potential to significantly expand existing resources.

High Grade Gold at Surface Offers Near Term Potential

Importantly, West Haven also has high grade gold mineralization exposed at surface. Thomas pointed to an outcropping at the Franz zone which has returned chip samples up to 15 g/t gold. Only limited drilling has been conducted around this outcrop to date.This represents a unique opportunity for near term value creation, whether through additional drilling and bulk sampling or a potential joint venture. Given the current market environment, creative options like this provide flexibility and downside protection according to management.

With a market capitalization of only around $20 million CAD, Thomas suggested this high grade surface mineralization could justify the company's current valuation on a stand-alone basis.

Experienced Team Focused on Unlocking Value

West Haven’s board and management team provide extensive industry experience and expertise. With challenging markets expected to persist in the near term, this experience will be crucial in navigating the best path forward and seizing on value-creating opportunities.The company appears poised to leverage its strong financial position, targeted exploration and strategic assets to drive shareholder returns. As results flow and markets eventually turn, West Haven looks well positioned to emerge as one of the premier exploration stories in the region.

Conclusion

For investors seeking leveraged gold exposure, West Haven Gold Corp. represents an intriguing speculation. With progress across multiple fronts, the company provides investors an attractive opportunity to capitalize on new discoveries and potential near term catalysts.