Mr. Gareth Thomas reports

WESTHAVEN PROVIDES AN EXPLORATION UPDATE ON ITS PROSPECT VALLEY PROPERTY

Westhaven Gold Corp. has provided an exploration update on its 10,927-hectare Prospect Valley gold property, located within the prospective Spences Bridge gold belt (SBGB), approximately 25 kilometres west of Merritt, B.C.

Highlights:

• Field work under way at Prospect Valley property:
  • Significant assays from initial property scale silt sampling (14 of 53 samples over 100 parts per billion (ppb) gold (Au) to a maximum of 985 ppb Au);
  • Float sample with 1,170 ppm tungsten and over 10,000 ppm molybdenum may indicate a new style of mineralization;
  • Several zones of quartz veinlets identified during prospecting (assays pending);
• Drill permit is pending for the Bonanza target -- a previously undrilled area where quartz vein and quartz breccia float, returning assays up to 43.34 g/t Au, have been found as recently as 2023.

Gareth Thomas, president and chief executive officer, states: "Recent findings have reinforced management's belief in the property's potential to host significant gold mineralization. Prospect Valley covers 10,927 hectares, encompassing a number of structurally controlled epithermal gold prospects, including the Bonanza target, Discovery zones and Northeast extension. In addition to the bonanza grades found on surface, historical drilling has intercepted high-grade gold. The continued discovery of new zones of mineralization adds to the prospectivity of the property and we look forward to drilling again soon."

Prospect Valley property

Numerous gold-bearing epithermal quartz vein and breccia float boulders were discovered in 2001 to 2002 over a two-square-kilometre area. The best sample ran 43.34 g/t Au, but the source(s) remains to be determined. Past work on the property targeted bedrock gold-silver showings at the Discovery (North and South), Dogleg, Dome, NEZ and NIC zones by trenching and drilling. The Bonanza target, Discovery and NEZ are aligned along a north-northeast trend and are hypothesized to be related to a multikilometre-scale fault system extending across the property. Westhaven acquired the ground in 2015 and in 2016, collected 1,028 soil and 78 rock samples, reexcavated four trenches, and drilled eight holes (1,519 metres (m)) in areas of known mineralization.

Historical drilling highlights at Prospect Valley:

• DDH-2006-21 returned 45.70 metres (m) of 1.57 g/t Au, including 4.60 m grading 4.38 g/t Au and 8.90 m grading 2.03 g/t Au.
• DDH-2007-05 returned 6.71 m of 3.62 g/t Au, including 1.33 m grading 12.20 g/t Au.
• DDH-2007-01 returned 61.40 m of 0.70 g/t Au.
• DDH-2007-02 returned 32.20 m of 1.40 g/t Au.
• PV16-04 returned 95.80 m of 0.70 g/t Au starting at bedrock surface, including 38.00 m of 1.36 g/t Au and 15.00 m of 2.23 g/t Au.

In 2020, Westhaven completed a ground magnetic survey over the Bonanza target specifically to support a drill permit application. Lidar surveys and limited reconnaissance sampling in 2023 marked the start of the company's property-wide work program. Exploration activities undertaken so far in 2024 include stream silt sampling, rock lithogeochemcial surveys, and prospecting of new logging clearcuts, access trails and burned areas.

Initial stream sediment results from the first 53 samples collected in 2024 have returned strongly anomalous gold values with 14 of the sites exceeding 100 ppb gold, including 985 ppb from a previously unsampled creek. Based on comparisons with historically reported property wide stream silt results (n equals 169), the orientation survey suggests at least seven drainages, outside of those hosting known mineralization, require immediate additional work. Additional stream sediment samples are being collected, as follow-up to both the company's new results and historic anomalies. For comparative purposes, the highest stream sediment assay from across the SBGB is 1,985 ppb Au from Westhaven's Shovelnose gold property and 1,720 ppb Au from the Skoonka North gold property. The 985 ppb Au in silt collected at the Prospect Valley property is in the top 99th percentile of stream silts collected from across the SBGB.

A float sample with quartz veining that returned 1,170 ppm tungsten and over 10,000 ppm molybdenum suggests a mineralization style different than the low-sulphidation epithermal target may also be present on the property. Additional prospecting and rock sampling are ongoing, both in previously unsampled areas and as follow-up to recent results.

Skoonka and Skoonka North

The company's summer exploration plans for the promising Skoonka and Skoonka North properties (2,784 ha and 6,167 ha respectively) have been postponed due to the unfortunate and continuing wildfire situation in those areas.

Qualified person statement

Peter Fischl, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this release.

QA/QC (quality assurance/quality control)

Rock samples were prepared using the PREP-31 package in ALS's Kamloops facility. Each rock sample is crushed to better than 70 per cent passing a two-millimetre (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 grams (g) is taken and pulverized to better than 85 per cent passing a 75-micron (Tyler 200 mesh, U.S. Std. No. 200) screen. A 0.75-gram aliquot of this pulverized split is digested by four-acid and analyzed through ICP-MS (method code ME-MS61m (plus Hg)), which reports a 49-element suite. All samples are analyzed by fire assay with an AES (atomic absorption spectrometry) finish, method code Au-ICP21 (30-gram sample size). Stream silt samples are wet screened into minus 50 plus 100 mesh and minus 100 mesh fractions. The minus 100 mesh fraction is dried (DRY-22) and screened (SCR-51) into three fractions (minus 100 plus 140, minus 140 plus 230 and minus 230 mesh). A 250-gram to 500-gram aliquot of minus 50 plus 100 mesh material is submitted for gold extraction by cyanidation (AuCN-11). Aliquots from each of the four screened size fractions are submitted for gold and a suite of 50 other elements by aqua regia digestion (AuME-ST44) using the largest possible charge weight. All analytical and assay procedures are conducted in ALS's North Vancouver facility. A QA/QC program for rock samples includes at least one field blank and one standard inserted in every batch of 25 samples. Field duplicates are prepared for silt samples and submitted for laboratory work, including screening where appropriate. Westhaven's continuing quality assurance and quality control programs include auditing of all exploration data. Any significant changes will be reported when available.

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 60,950 hectares (609.5 square kilometres) with four gold properties spread along this underexplored belt. The Prospect Valley property is situated off a major highway, near power, large producing mines and within commuting distance from the city of Merritt, which translates into low-cost exploration.