VANCOUVER, British Columbia, October 17, 2025 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V:WHN) announces the departure of Vice President of Corporate Development and Investor Relations Sean Thompson from the company.
Gareth Thomas, Director of Westhaven, said: “On behalf of the Westhaven Board of Directors, I would like to thank Sean for his important contribution to the company over the past six and a half years. We wish Sean all the best in his future endeavors.”
Clarifying Statement
In addition to the previously announced and closed private placement of the Company's shares on July 3.district2025 The Company wishes to clarify that Red Cloud Securities has returned 250,000 brokerage warrants to the Company for cancellation. As a result, no brokerage warrants were issued in connection with this financing. All other terms of the offer remain unchanged.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
“Ken Armstrong”
Ken Armstrong, President and CEO, is in charge of this news release and can be reached at 604-681-5558.
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 exploration and development company targeting low-sulfidation, high-grade epithermal gold mineralization in the Spences Bridge gold belt in southern British Columbia. Westhaven controls approximately 61,512 hectares (~615 square kilometers) of four gold deposits located along this underexplored belt. The Shovelnose Gold Project is the most advanced project, with a recently updated 2025 Preliminary Economic Assessment confirming the project's potential as a robust, low-cost and highly profitable 11-year underground gold mining project with an average annual mine life gold production of 56,000 ounces and a net present value of CA$454 million dollars after taxes.6% and an IRR of 43.2% (base case parameters: US$2,400 per ounce gold, US$28 per ounce silver, and CAD/USD exchange rate US$0.72). Initial capital costs are projected to be C$184 million with a payback period of 2.1 years. Please see Westhaven's press release from March 3, 2025 for details on the updated PEA. Shovelnose is located close to a major highway, close to power, railroad, major production mines, pipelines and within commuting distance of the city of Merritt, resulting in lower exploration and development costs.
Qualified Person: The technical and scientific information in this press release has been reviewed and approved by Robin Hopkins, P.Geo, who is a Qualified Person of the Company as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Westhaven shares trade on the TSX Venture Exchange under the ticker symbol WHN. For more information, call 604-681-5558 or visit Westhaven's website at www.westhavengold.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable securities laws. These forward-looking statements are made as of the date of this press release, and Westhaven does not intend and undertakes no obligation to update these forward-looking statements except as required by law.
Forward-looking statements in this press release may include, but are not limited to, statements regarding the results of preliminary economic assessments, mineral resource estimates, future planned activities, future mineral production and future growth potential for the Company and its projects, interpretation of preliminary results of exploration conducted to date at the Shovelnose Deposit using various exploration and analytical techniques; statements regarding potential types of epithermal mineralization at the Shovelnose Project; and the possibility that the Company's Shovelnose Project may host multiple gold-bearing epithermal systems. In some cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “expects”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “expects” or “does not expect” or “believes”, or variations of such words and phrases, or by statements that certain actions, events or results “may”, “could”, “will”, “may” or “will be accepted”, “will happen” or “will be achieved”. Forward-looking statements are based on management's opinions and estimates as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements or forward-looking information. Assumptions were made about, among other things, the price of gold and other precious metals; exploration and development costs; estimated cost of developing geological exploration projects; the Company's ability to operate safely and efficiently and its ability to obtain financing on reasonable terms. Although the management of Westhaven Gold Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that may cause results not to be as expected, estimated or intended. Many factors, both known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information. Such factors include, but are not limited to: the Company's dependence on one group of mineral projects; volatility of prices for precious metals; delays in regulation, approval or authorization; risks associated with dependence on the Company’s management and external contractors; risks associated with mineral resources and reserves; the Company's inability to obtain insurance to cover all risks on a commercially reasonable basis or at all; exchange rate fluctuations; risks associated with the inability to generate sufficient cash flow from operations; risks associated with project financing and equity issues; risks and unknowns inherent in all mining projects, including the uncertainty of reserves and resources, metallurgical recovery, and capital and operating costs of such projects; environmental, health and safety laws and regulations; operational or technical difficulties associated with mining or development; labor relations, labor unrest or unavailability; interaction of the Company with surrounding communities; the speculative nature of exploration and development, including risks of decreases in the quantity or quality of reserves; stock market volatility; conflicts of interest among certain directors and officers; and the factors identified under the heading “Risk Factors” as discussed and analyzed by management of the Company. Mineral exploration involves a high degree of risk, and few explored deposits ultimately develop into producing mines. There can be no assurance that such forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information incorporated herein by reference except as required by applicable securities laws.
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