Westhaven Gold Corp

Westhaven is a gold-focused exploration and development company targeting high-grade, epithermal style gold mineralization within the Spences Bridge Gold Belt in southern British Columbia. Westhaven controls over 615 square kilometres within four gold properties, including the advanced Shovelnose Gold Project. A 2025 Preliminary Economic Assessment* validates the potential of Shovelnose 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 an after-tax Cdn$454 million NPV6% and 43.2% IRR. Projected low initial capital costs of Cdn$184 million, with a payback period of 2.1 years, benefit from the project’s location immediately adjacent to major transportation and power infrastructure and within commuting distance from the city of Merritt. Ongoing exploration has the potential to expand gold resources at Shovelnose and for new discoveries within the belt.

Management Profile:

Sean Thompson, Vice President Corporate Development & Investor Relations

Sean Thompson has over 10 years experience in the mining industry. He recently acted as the Director Investor Relations for Atlantic Gold Corporation, up until the acquisition of Atlantic by St Barbara Ltd. Mr. Thompson was responsible for managing the investor relations program at Atlantic from his appointment in 2016 to the closing of the transaction with St Barbara Ltd. Prior to Atlantic, Mr. Thompson acted as the Investor Relations Manager for Kaminak Gold Corporation, up until the acquisition of Kaminak by Goldcorp. Mr. Thompson earned his MBA from Dalhousie University.

What are your key goals for the next 3, 6 and 12 months?

3 Months

Advance the Shovelnose Gold Project towards Feasibility: First Nation / Stakeholder engagement, resource conversion, metallurgy, geotechnical and hydrogeology, permitting.
Regional exploration: Continue drill testing & developing a pipeline of exploration targets on Shovelnose.

6 Months

Advance the Shovelnose Gold Project towards Feasibility: First Nation / Stakeholder engagement, resource conversion, metallurgy, geotechnical and hydrogeology, permitting.
Regional exploration: Continue drill testing & developing a pipeline of exploration targets on Shovelnose.

12 Months

Advance the Shovelnose Gold Project towards Feasibility: First Nation / Stakeholder engagement, resource conversion, metallurgy, geotechnical and hydrogeology, permitting.
Regional exploration: Continue drill testing & developing a pipeline of exploration targets on Shovelnose.

What do you think makes your company such a compelling investment?

Compelling Valuation

$30M ($0.16/share) market cap on a gold asset with a $454M after-tax NPV6% based on a US $2,400/oz gold price. At today’s record high gold price of US $3,400/oz, projected margin would be ~US $2,500/oz of gold produced.

Gold Asset Portfolio

4 gold properties along the Spences Bridge Gold Belt in southern British Columbia. Proximity to cities, transportation and power infrastructure lowers development and exploration costs. Significant Exploration Upside / New Discovery Potential on all properties.

Shareholder Alignment

Management and insiders own ~20% of Westhaven with additional strategic investments from gold mining heavyweights Franco-Nevada and Rob McEwen.