Westhaven Drills 30.58 Metres of 1.06 g/t Gold and 4.09 g/t Silver and 21.90 Metres of 1.84 g/t Gold and 4.79 g/t Silver at FMN Zone; Drills 6.00 Metres of 1.23 g/t Gold and 0.48 g/t Silver at Newly Discovered Zone at the Shovelnose Gold Property

VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres (km) south of Merritt, British Columbia.

Highlights include:

• FMN Zone
  
  
  • SN22-278 intersected 1.84 g/t gold (Au) and 4.79 g/t silver (Ag) over 21.90 metres (m) starting 44m downhole and 3.90m of 4.33 g/t Au and 9.61 g/t Ag starting 62m downhole (Section FMN F0525).
  • SN22-281, an undercut to SN22-278, intersected 30.58m of 1.06 g/t Au and 4.09 g/t Ag .
  • SN22-263 intersected 0.60m of 3.11 g/t Au and 287.00 g/t Ag, and 1.13m of 2.31 g/t Au and 173.44 g/t Ag .
  • Current drilling (Section FMN F0900) continues to expand the main mineralized structure, Vein Zone 1, along strike to the northwest.
    
    
• Discovery of a new gold bearing zone situated 1.2 km northeast of the South Zone (HydBx-02)
  
  
  • SN22-249 intersected 3.28 g/t Au over 0.9m .
    
  • SN22-257 intersected 1.39 g/t Au over 1.2m and another 1.23 g/t Au over 6m .
  • Two holes are 380m apart indicating a potential northwest-southeast trending mineralized zone that is open in both directions.
    
    
• Westhaven has drilled approximately 31,000m in 108 holes (to SN22-302) at Shovelnose in 2022.
  

Gareth Thomas, President & CEO, comments: “Drilling at the Shovelnose Gold Project continues to increase the size and scale of mineralization on this largely underexplored property. The newly discovered Hydrothermal Breccia No.2 target (6.00m of 1.23 g/t gold and 0.90m of 3.28 g/t Au) is very significant as it is located approximately 1.2 kilometres from and parallel to Vein Zone 2 and remains open both to the northwest and southeast. Follow-up work is ongoing to test the potential of this new area of interest.”

Peter Fischl, Exploration Manager adds: “Recent drilling at FMN continues to encounter broad intervals of mineralization hosted in heterolithic breccia containing quartz fragments derived from Vein Zone 1. These near surface intercepts, as seen in holes SN22-278 and SN22-281 on section F0525, add a "bulk tonnage" component to the economic potential at FMN. Vein Zone 1 at FMN continues to be traced to the northwest, with recent intercepts on section F0850 in holes SN22-298 and 299 (assays pending).

Drilling on peripheral targets off the main northwest trending 4km-long gold-bearing structure hosting Vein Zone 1 has encountered a new subparallel vein zone at the Hydrothermal Breccia No. 2 target. A series of east-northeast directed drill holes on two sections spaced 300 metres apart has intersected a west-northwest striking zone of quartz-carbonate veining in the granodiorite basement over a strike length of 400 metres in holes SN22-249 and SN22-257. This zone is 1.2km east-northeast of Vein Zone 2 at South Zone. The zone remains open along strike.”

Exploration Targets

At the Shovelnose gold property, the primary focus of Westhaven’s 2022 drilling is to test the potential for additional gold and silver mineralization along the 4km ‘main mineralized’ structure hosting the South, Tower, FMN and Franz Zones. However, a component of the 2022 work program is designed to evaluate geological, geochemical and geophysical targets elsewhere on the 17,623ha property. As assay wait times continue to grow, and as the Company waits to receive assays to assist for targeting purposes for drilling along the main mineralized structure, Westhaven has taken the opportunity to test exploration targets off trend. Of the holes being reported today, 14 are associated with testing three exploration targets.

Surface exploration has identified several hydrothermal breccias, quartz veining and alteration halos in outcrop that are reminiscent of those associated with gold mineralization at the South Zone (791,000 ounces of gold and 3,894,000 ounces of silver Indicated plus 263,000 ounces of gold and 1,023,000 ounces of silver Inferred; see Press Release January 10, 2022).

Hydrothermal breccias are typical of low sulphidation epithermal systems and develop where mineral rich fluids interact with fractured rock. During work in 2020 and 2021, Westhaven identified 15 zones of hydrothermal brecciation, with surface assays returning up to 0.5g/t gold in select grab samples.

The 14 holes being reported today were completed to test three exploration targets. One of these three exploration targets tested has lead to the discovery a new gold bearing zone. HydBx-02, situated 1.2km northeast of the South Zone, and off the main mineralized trend (see map), was tested by seven drill holes. Full results are provided in table below. The best gold intersections occur in hole SN22-249 (3.28 g/t Au over 0.9m) and SN22-257 (1.39 g/t Au over 1.2m and 1.23 g/t Au over 6m).

These intersections are significant because:

(1) this is a new gold bearing area, confirmed by drilling, and offset some 1.2km from the main mineralized structure,

(2) veining was encountered in both the traditional felsic volcanic host rocks as well as in the granodiorite unit - thought to be the local geologic basement at Shovelnose and potentially opening up new areas for exploration,

(3) alteration haloes – derived from pathfinder elements in drill core (not reported herein) - suggest development of a low sulphidation epithermal system offset from the main trend (relationship, if any, unclear at the present time)

(4) drilling coverage at HydBx-02 is limited, with upside potential above, below and between the current drill intersections,

(5) HydBx-02 remains open to both the northwest and southeast, and

(6) additional similar surface exposures of hydrothermal brecciation elsewhere on the property remain to be tested by drilling.

Westhaven’s ongoing mapping, prospecting and rock sampling are currently focussed in areas burned by the 2021 July Mountain wildfire, which exposed previously unknown outcrops. This geological program will be expanded elsewhere on the property later in the season. Other components of the 2022 program at Shovelnose include stream sediment sampling following up anomalous results from an earlier program indicative of potential gold mineralization at sites up to 10km from the main mineralized trend. Westhaven expects to develop new target areas from this work, as well as additional exploration activities in progress.

FMN Zone

The drilling of two holes on section F0525, holes SN22-278 and 281, has intersected wide intervals of mineralized quartz-bearing breccia. The shallow nature of these intercepts adds to the “open-pit” potential of the breccia target at FMN.

Hole SN22-263 was drilled on section F0300 and targeted the southeastern extension of a deeper zone of silver-rich mineralization at FMN centred at 1190m elevation. This hole intersected Vein Zone 1 at 211.6 to 284m and included quartz vein intercepts of up to 6.0m (e.g. at 212.42 to 218.42m). Several of these veins returned gold-silver assays with significant silver as follows; 1.43 g/t Au and 146.18 g/t Ag over 1.50m (213.5-215.0m) and 2.31 g/t Au and 173.44 g/t Ag over 1.13m (248.05-249.18m). Vein Zone 1 continues to be traced to the northwest, being recently intersected on section F0850 at FMN in holes SN22-298 and 299 (awaiting assays).

Alpine Zone

5 drillholes were completed on section S0500, the furthest northwest section completed to date at the Alpine zone. Anomalous gold associated with Vein Zone 2 was intersected in four of the five holes drilled on this section. Zone 2 remains open to the northwest, where there is an additional 150 metres of untested strike length before linking up with the Tower Showing, an area of historic drilling dating back to 2011 that tested the surface outcropping of Vein Zone 2. The zone remains a potential open pit target here due to its shallow nature and flat lying geometry at Alpine and Tower.

Recent drill results are summarized here:

Please click the following link to the 2021 & 2022 drill database tables of assay results:
2021 & 2022 drill database: https://www.westhavengold.com/projects/shovelnose-gold/maps/

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

"Gareth Thomas"

Gareth Thomas, President, CEO & Director

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.

QA/QC

Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven’s ongoing Quality Assurance and Quality Control programs include auditing of all exploration data. Any significant changes will be reported when available.

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.

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 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, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavengold.com .

Maps accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b6d26a5e-4db9-43aa-aeca-9353d742a2c6

https://www.globenewswire.com/NewsRoom/AttachmentNg/9608f3cc-e7e6-4287-a18d-85eebedf0029

https://www.globenewswire.com/NewsRoom/AttachmentNg/c60f354d-fb8e-43fa-8012-2e342dd56a5d