Gowest Gold Announces Change in Management

TORONTO, July 06, 2021 (GLOBE NEWSWIRE) -- Gowest Gold Ltd. (“Gowest” or the “Corporation”) (TSX VENTURE: GWA) announced today that Ms. Janet O’Donnell, the Chief Financial Officer of the Corporation, has given notice that she will be resigning from the Corporation effective August 28, 2021. The Corporation has commenced the process of identifying a new Chief Financial Officer and it is intended that Ms. O’Donnell will be available assist with an orderly transition. Ms. O’Donnell has served as the Chief Financial Officer of the Corporation for the past 13 years and has played a key role in the growth and development of Gowest over that period.

C. Fraser Elliott, Chairman, commented: “Janet’s dedication to Gowest over the past 13 years as Chief Financial Officer has ensured the Corporation has accurately reflected its development in a timely manner. She has been instrumental in completing the various financings Gowest has embarked on over the years. On behalf of the Board of Gowest, I wish her success in the future.”

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

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