Mr. Rob Birmingham reports
GOLDHAVEN CLOSES OVERSUBSCRIBED FINANCING TO ADVANCE HIGH-GRADE TUNGSTEN TARGETS AT MAGNO
Goldhaven Resources Corp. has closed the final tranche of its non-brokered flow-through financing, bringing total gross proceeds to over $2-million.
Highlights:
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Oversubscribed financing of approximately $2.04-million;
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Second and final tranche closed;
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Total of 7,690,117 flow-through shares issued at 26.5 cents;
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Proceeds fully financing 2026 Magno drill program;
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Targeting tungsten mineralization up to 6,550 parts per million W, alongside high-grade silver values up to 2,370 grams per tonne Ag.
Flow-through financing
In connection with the closing of the final tranche, the company issued an additional 1,207,700 flow-through shares at a price of 26.5 cents per share, for gross proceeds of $320,040.
In total, the company has issued 7,690,117 flow-through shares under the flow-through offering at a price of 26.5 cents per share, for aggregate gross proceeds of $2,037,881, representing an oversubscribed financing exceeding $2-million.
In connection with the closing of the final tranche, the company paid cash finder fees totalling $21,002 and issued 79,254 non-transferable finder warrants to a certain eligible arm's-length finder, which introduced a subscriber to the offering. Each finder warrant entitles the holder to purchase one common share at a price of 35 cents per finder share for a period of 24 months from the date of issuance.
Chief executive officer commentary
"We are very pleased to successfully close this oversubscribed financing, which provides Goldhaven with a strong treasury to execute a fully funded and highly targeted 2026 drill program at Magno," stated Rob Birmingham, president and chief executive officer of Goldhaven.
"With multiple high-priority targets defined across Magno, Kuhn and the D-Zone, including significant tungsten mineralization with values up to 6,550 ppm, we believe the upcoming drill program is well positioned to unlock the scale of this district-wide polymetallic system."
Use of proceeds
Proceeds from the flow-through offering will be used to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures (as defined in the Income Tax Act (Canada)) and will be renounced to subscribers;
Funds will be primarily directed toward advancing the company's Magno project, including:
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2026 diamond drilling program targeting high-grade silver-lead-zinc carbonate replacement deposit zones at Magno and D-Zone;
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Follow-up drilling of tungsten-skarn mineralization at Kuhn and Dead Goat, where values up to 6,550 ppm W have been identified;
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Airborne geophysical surveys to refine structural controls and intrusive targets;
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3-D geological and metal zonation modelling to vector toward higher-grade zones;
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Systematic follow-up of high-grade surface and historical drill results, including multiple samples exceeding 100 g/t Ag.
Regulatory
All securities issued in connection with the financing are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.
Magno project
Goldhaven's Magno project is a district-scale polymetallic exploration asset spanning approximately 37,200 hectares in the Cassiar region of northwestern British Columbia.
The project hosts a large intrusion-related hydrothermal system with multiple mineralization styles, including silver-lead-zinc carbonate replacement mineralization, tungsten-rich skarn systems, copper-bearing intrusions, and critical minerals such as indium, bismuth and tellurium.
Property-wide geological mapping and geochemical analysis define a classic porphyry-related metal zonation pattern, supporting the interpretation of a large, vertically and laterally extensive mineral system.
Magno key geological highlights:
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Property-scale metal zonation consistent with a porphyry source system;
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Stacked mineralization including porphyry, CRD and skarn environments;
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Verified high-grade silver-lead-zinc mineralization at Magno and D-Zone;
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Confirmed widespread tungsten mineralization at Kuhn and Dead Goat;
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Elevated copper within intrusive rocks supports a magmatic source;
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Strong critical metal enrichment including indium values up to 334 ppm.
About Goldhaven Resources Corp.
Goldhaven is a Canadian junior exploration company focused on acquiring and exploring highly prospective land packages in North and South America. The company's projects include the flagship Magno project, a district-scale polymetallic property adjacent to the historic Cassiar mining district in British Columbia. The Three Guardsman project exhibits significant potential for copper and gold-skarn mineralization. The Copecal gold project is a drill-ready gold project located in Mato Grosso, Brazil, with a six-kilometre strike of anomalous gold-in-soil samples. Three critical mineral projects have extensive tenement packages totalling 123,900 hectares: Bahia South, Bahia North and Iguatu projects located in Brazil.
Qualified person
The technical and scientific information contained in this news release has been reviewed and approved by Raymond Wladichuk, PGeo, who is a non-independent qualified person as defined under National Instrument 43-101 and a consultant of the company.
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