Mr. Dan Gagnon reports

GOWEST GOLD PROVIDES EXPLORATION UPDATE ON PHASE 1 DIAMOND DRILLING AT BRADSHAW

Gowest Gold Ltd. has provided an update on the latest assay results from phase 1 of its previously announced surface diamond drill program at its 100-per-cent-owned Bradshaw gold mine. This first 5,000-metre program phase, which is expected to be completed in mid-November, is part of a larger planned program aimed to expand the minable resource at Bradshaw, as well as to further test other parts of the corporation's North Timmins gold project (NTGP) area, where notable gold has also previously been intercepted (see Gowest news releases dated Sept. 15, 2023, June 26, 2023, June 1, 2020, and June 27, 2019).

Diamond drilling highlights:

• A total of 4,403 metres of drilling has been completed as of Oct. 31, including 14 completed holes and one in progress on the eastern portion of the Bradshaw deposit.
• Highest intercept: 9.77 grams per tonne (g/t) gold (Au) over three m from hole GW23-330, including 27.60 g/t Au over one m from the Bradshaw YDA zone.
• Hole GW23-328 cut 8.08 g/t Au over 2.8 m, including 11.10 g/t Au over 1.80 m from the Bradshaw HW2 zone.
• Drilling in hole GW23-333 also returned significant gold mineralization: 5.27 g/t Au over 2.6 m, including 11.98 g/t Au over 1.1 m on the HW2 zone and 7.57 g/t Au over 1.5 m in a new zone.

Dan Gagnon, president and chief executive officer of Gowest, said: "We are extremely encouraged by these continuing positive drill results at Bradshaw as they provide an even stronger foundation for our team's conviction that we will expand our current minable resources and reserves at the deposit. We have also recently completed preliminary planning for an additional $10-million exploration program to further test other parts of the NTGP, where we are also confident that we still have more significant upside."

Overview -- phase 1

A total of 4,403 m of drilling has been completed as of Oct. 31, consisting of 14 finished holes and one in progress. The 5,000 m phase 1 surface drilling program is expected to be completed in mid-November. The 14 holes were drilled on the eastern portion of the Bradshaw gold deposit. The rig is currently drilling the 15th hole (GW23-334). The final 650 m hole of the program has been spotted in the field.

The one hole completed in October has been logged and sampled. As of Oct. 31, 2,415 samples (14 holes) have been sent to Activation Laboratories Timmins for gold analysis. In addition, 108 pulp samples have been sent to a secondary lab (Bureau Veritas) for gold analysis checking as part of industry-standard quality assurance/quality control (QA/QC) procedures.

Gold results have been received from 13 drill holes as of Oct. 31. Analytical results from six holes were received since the last exploration press release (Sept. 15, 2023) and gold mineralization was encountered in all the holes.

Ten significant gold intersections were encountered in the five holes: GW23-327, GW23-328, GW23-329, GW23-330 and GW23-333. The highest gold intersection received was 9.77 g/t Au over three m from hole GW23-330, including 27.60 g/t Au over one m from the Bradshaw YDA zone. HW2 is another significant zone where drilling intersected 8.08 g/t Au over 2.8 m from hole GW23-328. A third significant zone intersected was the M2 zone in hole GW23-333 that returned 5.27 g/t Au over 2.6 m and included 11.98 g/t Au over 1.1 m. Encouragingly, hole GW23-333 also intersected a new zone, returning 7.57 g/t Au over 1.5 m.

Overview -- phase 2

Planning was carried out at the end of October for a $10-million exploration program on the NTGP, with the funds to be split evenly between underground drilling and surface exploration. The surface drilling program, budgeted at $5-million, is mainly to entail diamond drilling. A total of 16,500 m are planned for the central to western portion and the depth extension of the Bradshaw deposit (10,000 m), the Sheridan zone (2,500 m) and the Roussain zone (2,500 m), as well as induced polarization (IP) targets (1,500 m). An IP geophysical survey is also planned for the surface exploration program to generate new targets on the NTGP area.

Quality control procedures

NQ drill core is oriented and cut with half sent to Activation Laboratories Timmins (Actlabs) for drying and crushing to minus-two millimetres (mm), with a riffle split 250-gram and pulverized (mild steel) to 95 per cent passing 105 micrometres (150 mesh). Actlabs is an ISO 17025 accredited laboratory. A 30 g charge is fire assayed and analyzed using an AAS (atomic absorption spectroscopy) finish for gold. Samples above 10 g/t Au are analyzed by Fire assay with a gravimetric finish and selected samples with visible gold by metallic screen fire assay on a one-kilogram (kg) sample. Gowest inserts independent certified reference material and blanks with the samples, and assays routine pulp repeats, as well as completing routine third party check assays at a third party laboratory.

About Gowest Gold Ltd.

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100-per-cent-owned Bradshaw gold deposit on the Frankfield property, part of the company's North Timmins gold project. Gowest is exploring additional gold targets on its over-100-square-kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ont., gold camp. Currently, Bradshaw contains a National Instrument 43-101 indicated resource estimated at 2.1 million tonnes (Mt) grading 6.19 grams per tonne gold containing 422,000 ounces (oz) Au and an inferred resource of 3.6 Mt grading 6.47 g/t Au containing 755,000 oz Au. Further, based on the prefeasibility study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains mineral reserves (mineral resources are inclusive of mineral reserves) in the probable category, using a three g/t Au cut-off and utilizing a gold price of $1,200 (U.S.) per ounce, totalling 1.8 Mt grading 4.82 g/t Au for 277,000 oz Au.

Qualified person

The technical information in this news release has been reviewed and approved by Even Stavre, PGeo, Gowest's chief geologist, who is the qualified person for the technical information in this news release under National Instrument 43-101.

We seek Safe Harbor.