Mr. Ken Armstrong reports

WESTHAVEN ANNOUNCES GRANT OF INCENTIVE STOCK OPTIONS

Pursuant to the terms of a stock option plan approved by shareholders at the annual general meeting held June 24, 2026, Westhaven Gold Corp. has granted a total of 300,000 incentive stock options to officers of the company.

The stock options are exercisable to acquire one common share of Westhaven at 37.5 cents per share and can be exercised until Aug. 7, 2031. The stock options vest in thirds over 18 months from the grant date, becoming fully vested Feb. 7, 2028.

The company's equity incentive plan allows for the issuance of up to 10 per cent of issued and outstanding share capital in the form of incentive stock options and other types of share-based compensation. Following this grant of stock options, there are 19.7 million stock options outstanding, representing 7.5 per cent of the company's issued and outstanding common shares. The common shares issuable in connection with an exercise of stock options will be subject to applicable resale restrictions in accordance with Canadian securities legislation and the policies of the TSX Venture Exchange.

About Westhaven Gold Corp.

Westhaven is a gold- and silver-focused exploration and development company targeting low-sulphidation, high-grade, epithermal-style gold and silver mineralization within the Spences Bridge gold belt in Southern British Columbia. Westhaven controls approximately 60,263 hectares within four properties spread along this underexplored belt.

The Shovelnose gold and silver project is the most advanced property, with a 2025 updated preliminary economic assessment that validates the project's potential as a robust, low-cost and high-margin 11-year underground gold mining opportunity with average annual life-of-mine production of 56,000 ounces gold and 313,000 ounces silver with a $454-million after-tax net present value (at a 6-per-cent discount rate) and a 43.2-per-cent internal rate of return (base-case assumptions of $2,400 (U.S.) per ounce gold, $28 (U.S.) per ounce silver and a Canadian-dollar/U.S.-dollar exchange rate of $1 (Canadian) equals 72 U.S. cents) (1).

On Feb. 23, 2026, Westhaven closed a strategic earn-in agreement with Dundee Corp., whereby Dundee may earn an up-to-60-per-cent interest in Westhaven's four Spences Bridge gold belt properties through up to $85-million in staged project expenditures. Under the first phase, Dundee has committed a minimum of $30-million, inclusive of a fully financed 50,000-metre drill program and prefeasibility work at Shovelnose. The agreement allows for the accelerated exploration and evaluation of one of Canada's most compelling, undeveloped, high-margin gold and silver assets.

Qualified person

The technical and scientific information in this news release has been reviewed and approved by Robin Hopkins, PGeol (Northwest Territories/Nunavut), vice-president, exploration, for Westhaven, a qualified person for the company under the definitions established by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

(1) See Westhaven's news release entitled "Westhaven Announces Updated Preliminary Economic Assessment for the Shovelnose Gold Project, British Columbia" and dated March 3, 2025.

We seek Safe Harbor.