Westhaven Hits High-Grade Gold at Multiple Zones at Shovelnose: Drills 76.33 Metres of 2.93 g/t Gold at South Zone and 4.18 Metres of 5.26 g/t Gold at FMN Zone

 

VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.

Recent Highlights:

• SNR21-05 (South Zone: Vein Zone 2, 181.00-257.33m)
  
  76.33 metres (m) of 2.93 g/t gold (Au) and 11.30 g/t silver (Ag),
  including 42.00m of 4.28 g/t Au and 16.86 g/t Ag,
  including 2.00m of 26.60 g/t Au and 98.37 g/t Ag,
  including 4.00m of 12.29 g/t Au and 36.90 g/t Ag.

• SNR21-07 (South Zone: Vein Zone 1, 51.00-92.25m)
  
  41.25m of 4.47 g/t Au and 17.69 g/t Ag,
  including 1.83m of 54.33 g/t Au and 230.44 g/t Ag,
  including 0.83m of 65.70 g/t Au and 237.00 g/t Ag.

• SNR21-06 (South Zone: Vein Zone 1, 42.78-87.00m)
  
  4.77m of 8.53 g/t Au and 14.14 g/t Ag,
  and 3.00m of 5.78 g/t Au and 15.51 g/t Ag,
  including 1.00m of 14.10 g/t Au and 37.60 g/t Ag.

• SNR21-08 (South Zone: Vein Zone 2, 122.00-148.50m)
  
  26.60m of 2.48 g/t Au and 14.25 g/t Ag,
  including 3.23m of 17.15 g/t Au and 21.97 g/t Ag,
  including 1.23m of 33.40 g/t Au and 182.00 g/t Ag.

• SN21-167 (FMN: Vein Zone 1, 81.95-104.00m)
  
  22.05m of 2.20 g/t Au and 5.88 g/t Ag,
  including 4.18m of 5.26g/t Au and 9.27 g/t Ag.

Gareth Thomas, President & CEO of Westhaven Gold, states: “Though still early days at the FMN, 2021 exploration drilling has successfully outlined a 200m corridor of higher-grade zones of gold and silver mineralization starting from hole SN21-158 (3.46m of 9.46 g/t Au and 151.82 g/t Ag) to hole SN21-167 (4.18m of 5.26 g/t Au and 9.27 g/t Ag). Our technical team is getting a better handle on targeting the elevation range of best mineralization, which bodes well for future significant drill intercepts at FMN.” Thomas goes on to add, “The recent South Zone results (76.33m of 2.93 g/t Au and 11.30 g/t Ag) help validate the high-grade nature of this project as we continue to drill outside of this main structure looking for additional zones of gold and silver mineralization. A 3rd drill rig is on site testing these targets now.”

Peter Fischl, Exploration Manager adds: “Recent resource definition drilling at South Zone targeting Vein Zones 1 and 2 continues to intersect significant grades and widths in both zones (SNR21-05 to SNR21-08). Drilling at FMN has confirmed that stronger mineralization in Vein Zone 1 occurs at 1,200m to 1,300m elevation, similar to that seen at South Zone. Holes SN21-158, SN21-161, SN21-163 and SN21-167 encountered moderate to strong gold mineralization centred at 1205m in SN21-163, 1240m in SN21-161, 1280m in SN21-167, and 1320m in SN21-158. Weaker mineralization was encountered in a deeper test in hole SN21-162, which intersected Vein Zone 1 at 1120-1190m elevation. Follow-up drilling at FMN will focus on targeting shallower portions of Vein Zone 1 above 1200m elevation.”

Drillhole SNR21-08 intersected Vein Zone 2 starting at 122m downhole (26.60m of 2.48 g/t Au and 14.25 Ag) and is located 50m NW along strike from drillhole SNR21-05 which intersected Vein Zone 2 starting 181m downhole (76.33m of 2.93 g/t Au and 11.30 Ag). The Vein Zone 1 mineralization encountered in drill hole SNR21-07 (41.25m of 4.47 g/t Au and 17.69 g/t Ag) starts at 51m downhole. Resource holes (SNR21-09 to SNR21-16) were geologic holes drilled as part of the ongoing resource definition program and drilled on the eastern periphery of the South Zone with a view to providing information related to wallrock characterization and condemnation testing.

Additional 3^RD Rig:

A third drill has been added to the property tasked with testing exploration targets located off of Vein Zone 1 where two drills are currently operating. The first target to be tested with this third drill was generated during the 2020 field season when a CSAMT (Controlled Source Audio-frequency Magneto-Tellurics) geophysics program was completed. The drill will start at CSAMT target 3 (please reference map below) which is located approximately 800m to the east of the South Zone and shares similar geophysical characteristics.

Please click the following link to the 2021 drill database table of assay results:
https://www.westhavengold.com/projects/shovelnose-gold/maps/

Westhaven Retains Market-Making Services:

Westhaven has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of 3 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.

Westhaven Gold Webinar:

President & CEO Gareth Thomas will be participating in the following webinar on Wednesday, July 7^th at 2 pm ET / 11:00 am PT. There will be a Q&A session post presentation as well.

REGISTRATION
https://www.redcloudfs.com/rcwebinar-whn/

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

"Gareth Thomas"

Gareth Thomas, President, CEO & Director

Qualified Person Statement

Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.

QA/QC

Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.

Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.

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 advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration.

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.

Maps accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/88ee39af-e9fc-403e-84a2-b2db475e13dc
https://www.globenewswire.com/NewsRoom/AttachmentNg/f3ad4f59-3741-435a-8c09-2a1b09a6aee7
https://www.globenewswire.com/NewsRoom/AttachmentNg/33f8c7f3-bcbc-4a42-bd4c-7035b9cccfaa
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2b55cf9-b31a-4d72-a7cf-ad4506d6f0dd