Westhaven Drill Results & New Drill TO SHOVELNOSE

WESTHAVEN DRILLS 34.00 METRES OF 1.21 G/T GOLD, INCLUDING 1.00 METRE OF 15.70 G/T GOLD EXTENDING STRIKE AT LEAR ZONE; MOBILIZES 3RD DRILL TO SHOVELNOSE GOLD PROPERTY

Vancouver, B.C. – July 9th, 2020 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce additional assay results from its ongoing 30,000 metre drill program. The Company has also added a third drill rig at its 17,623-hectare Shovelnose gold property to test several additional targets outside of the high-grade South Zone. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.

Ongoing 30,000 Metre Drill Program

  • Hole SN20-65 (Lear Zone – Vein Zone 3) returned 34.00 metres (m) of 1.21 g/t gold (Au) and 3.68 g/t silver (Ag), including: 1.00m of 15.70 g/t Au and 77.50 g/t Ag within 200m of surface.
  • Hole SN20-62 (Lear Zone – Vein Zone 3) returned 20.12m of 0.90 g/t Au and 2.17 g/t Ag, including: 0.45m of 8.7 g/t Au and 36.30 g/t Ag and 6.00m of 2.01 g/t Au and 2.85 g/t Ag.
  • Hole SN20-64 (Lear Zone – Vein Zone 2) returned 6.00m of 1.57 g/t Au and 4.30 g/t Ag, including: 2.00m of 3.84 g/t Au and 6.85 g/t Ag within 110m of surface.
  • The 3rd drill rig is planned to be set up at Shylock target ~1.5 kilometres southeast of the South Zone discovery as the focus of this program is to test new drill targets. A drill is currently testing the Line 6 target with the 2nd drill testing along strike north of the Lear Zone.
  • The ongoing 30,000 metre drill program continues with data being analyzed from the recently announced Controlled Source Audio-frequency Magneto-Tellurics (CSAMT) survey. The survey covers a 3 x 5-kilometre area  encompassing the South Zone to refine the higher priority targets and generate new targets.

Gareth Thomas, President & CEO of Westhaven stated: “We are encouraged with the first assay results since recommencing drilling at Shovelnose. These results build confidence in the continuity of gold mineralization between the South Zone and the high-grade gold intersected at the Lear Zone (SN20-56: 3.13m of 7.20 g/t Au). Preliminary results from the ongoing CSAMT geophysics survey have identified multiple anomalies that share similar geophysical characteristics to the South Zone. As our exploration efforts continue to expand the number of regional targets outside of the South Zone high-grade gold discovery area, the Company is mobilizing a 3rd drill rig to begin drilling on July 15th.”

Lear Zone

Holes SN20-62 and SN20-63 were drilled to the northeast (azimuth: 060 deg) on section 1500 as step-outs to hole SN20-56.  These holes confirmed the northwestern continuation of stronger gold mineralization encountered in Vein Zone 3 in hole SN20-56.  Hole SN20-62 extended this stronger mineralization by 70 metres to the northwest.  Zone 3 remains open up-dip from hole SN20-62. 

Holes SN20-64 and SN20-65 were drilled on section 1350 to test for higher grade veining above the weakly mineralized roots of Vein Zone 3 intersected previously in holes SN20-53 and SN20-55.  Hole SN20-65 confirmed the presence of higher grade gold mineralization in the shallower portions of Vein Zone 3.  This highlights the potential for stronger mineralization to occur up-dip from previously drilled weaker intersections in Vein Zone 3.

Alpine Zone

Drilling has continued northwest of South Zone, through the Lear and now the Alpine target areas. Historic IP surveys at Alpine have defined north-northwest trending resistivity and chargeability highs that appear to be closely aligned with Vein Zone 2.  Magnetic surveys have defined several subparallel northwest trending magnetic lows over the northern Alpine area that appear to suggest a northwest trend of the two vein zones.  Drilling has confirmed the continuation of Vein Zones 2 and 3 northwest into the Alpine target area but with a divergence of the two vein zones. Zone 2 is deflecting west-northwest and Zone 3 continues north-northwest. Drilling has continued northwest into the Alpine target area, stepping out along the vein zones.

*Based on the geology of the vein zones with steep dips to the west, true widths are estimated to be about 80-90% of reported interval lengths.

DRILL HOLES SN20-62 to SN20-65
HoleFrom (m)To (m)Interval (m)Au (g/t)Ag (g/t)
SN20-62196.88217.0020.120.902.17
Incl196.88197.330.458.7036.30
Incl211.00217.006.002.012.85
 255.00261.006.001.473.07
SN20-6363.0072.249.240.583.60
 198.35207.008.650.220.69
SN20-64133.00139.006.001.574.30
Incl133.00135.002.003.846.85
SN20-6580.7081.370.677.1911.35
 219.00253.0034.001.213.68
Incl230.00246.0016.002.196.84
Incl230.00231.001.0015.7077.50
Incl245.00246.001.0010.354.44

Controlled-Source Audio-frequency Magnetotellurics (CSAMT) survey update

Orientation test lines completed earlier this summer demonstrated that alteration associated with mineralization at the South Zone could be detected by the CSAMT technique. A larger survey planned to cover some 1,500 hectares of the 17,623 hectare Shovelnose Property was announced previously, and field data collection is continuing. Based on results received to date (including preliminary 2D inversion profiles), potential analogues for the South Zone have been identified. The survey area will be expanded to the north, and a series of infill lines will be collected to better define specific features of interest, the most promising of which are planned for drilling later this season. Please see below for preliminary profiles.

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.

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.

On behalf of the Board of Directors
WESTHAVEN VENTURES INC.

“Gareth Thomas”

Gareth Thomas, President, CEO & Director

About Westhaven:

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, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavenventures.com

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Figure 4

CSAMT: Based on results received to date; Potential analogues for the South Zone have been identified

Figure 5

CSAMT: Entire 5km long portion of line 5524000mN. This is a preliminary in-progress inversion

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