Vancouver, B.C. – January 2, 2026 – Westhaven Gold Corp. (TSX-V: WHN)(“Westhaven” or the“Company”)is pleased to announce that it has closed its previously announced private placement with Dundee Corporation (TSX: DC.A) (“Dundee“), having issued to Dundee 12,000,000 common shares of Westhaven at a price of CDN$0.25 per share, for aggregate gross proceeds to the Company of CDN$3,000,000 (the “Financing“).[1]
Westhaven intends to use up to CDN$2 million of the net proceeds from the Financing for exploration activities, the majority of which will fund drilling, CDN$500,000 to maintain the properties in good standing as needed and the remaining proceeds for general working capital.
The common shares issued in the Financing are 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-focused exploration and development company targeting low sulphidation, high-grade, epithermal style gold mineralization within the Spences Bridge Gold Belt in southern British Columbia. Westhaven controls ~61,512 hectares (~615 square kilometres) within four gold properties spread along this underexplored belt.
The Shovelnose Gold project is the most advanced property, with a recently updated 2025 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 CDN$454 million after-tax net present value (at a 6% discount rate) and 43.2% IRR (base case parameters of US$2,400 per ounce gold, US$28 per ounce silver and CDN/US$ exchange rate of CDN$1.00=US$0.72).[2]
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration for Westhaven and a Qualified Person for the Company under the definitions established by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTHAVEN GOLD CORP.
“Ken Armstrong”
Ken Armstrong, President and CEO, is responsible for this news release and can be reached at 604-681-5558. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.
For further information, please contact:
Kaeli Gattens
Vice President Communications
Email: kgattens@westhavengold.com
Phone: 604-681-5558
Website: www.westhavengold.com
