Mr. Dan Gagnon reports

GOWEST GOLD PROVIDES THE 2ND EXPLORATION UPDATE ON ITS PHASE 2 DIAMOND DRILLING PROGRAM

Gowest Gold Ltd. has provided a further update on the latest assay results from phase 2 of its previously announced surface diamond drill program at its 100-per-cent-owned North Timmins gold project (NTGP). This latest work is part of the $10-million exploration program phase, which aims to expand the minable resource at the Bradshaw gold deposit, as well as to further test other parts of the corporation's NTGP area where notable gold has also been intercepted previously (see Gowest news releases dated Dec. 27, 2023, and March 1, 2024).

Diamond drilling highlights since last update:

• A total of 12,769 metres (m) of drilling have been completed as of April 30, including 32 completed holes and two holes in progress on the Sheridan gold zone and west of Bradshaw.
• Highest intercept: 13.6 grams per tonne (g/t) gold (Au) over 1.1 m from hole GW23-352, including 20.06 g/t Au over 0.6 m from the Bradshaw HW8 zone.
• Other significant gold mineralization: 5.27 g/t Au over 2.6 m (including 22.3 g/t Au over 0.6 m) in hole GW23-346 on the HW7 zone, and 23.2 g/t Au over 1.5 m in hole GW24-351A on newly discovered HW10 zone.

Dan Gagnon, president and chief executive officer of Gowest, said: "As we have seen throughout this extensive drill program, our team has steadily revealed more and more gold mineralization both at Bradshaw and across a number of other areas on our NTGP. We remain confident that we will further expand our resources, including the very real potential to develop more than one important new mine on our property in the Timmins gold camp. Meanwhile, we are also planning for the restart of underground mining at Bradshaw soon."

Technical overview -- phase 2

The phase 2 surface drilling program is expected to be completed in November, 2024. This exploration drilling program is targeting the Bradshaw deposit, the Sheridan zone and the Roussain zone. A total of 12,769 m of drilling has been completed as of April 30 since the start of phase 2 drilling program, consisting of a total of 32 finished holes and two holes in progress. Gold results have been received from 29 drill holes by April 30.

Bradshaw deposit: A total of 8,982 m of drilling have been completed at Bradshaw as of April 30 since the start of phase 2, with 19 holes completed and one, GW24-365, in progress. The holes were drilled on the eastern portion and north of the Bradshaw gold deposit.

This latest drilling at Bradshaw has returned encouraging results. Recent intercepts have an average core length of 0.8 m within mineralized zones. Gold values were up to 23.2 g/t Au over 0.6 m in hole GW24-351A in the newly discovered HW10 mineralized quartz vein zone. A thicker intercept was recorded in hole GW24-351A with 5.53 g/t Au over 2.8 m in the HW1 quartz vein zone.

Eight new mineralized zones were encountered in Bradshaw where one significant new zone intercepted 7.53 g/t Au over 1.5 m in hole GW24-350. Three out of seven holes drilled at Bradshaw in April have completed the assay results -- GW24-350, GW24-351A, GW24-352.

Roussain gold zone: The Roussain gold zone is part of a northwest-southeast-trending deformation zone with an intense hydrothermal alteration often with significant secondary sulphide mineralized quartz/carbonate veining. The Roussain zone is hosted in tholeiite flows and marks up the contact between mafic metavolcanics and intercalating sequence of epiclastic and volcanoclastic sediments.

A total of five holes and 1,754 m have been completed to date at the Roussain zone. The drill rig has been demobilized from this zone due to drill access constraints and the river crossing. Roussain zone drilling is expected to resume in the early winter of 2024. The highest gold intercept at the Roussain zone was encountered in hole GW24-344, which returned 4.15 g/t Au over 0.6 m. The thickest mineralization was intercepted in hole GW24-343, which returned 3.29 g/t Au over 1.35 m.

Sheridan zone: The Sheridan gold zone is hosted in a carbonate, hematite and sericite altered shear zone within a sequence of tholeiitic basalt flows. The shear zone strikes N086 degrees east and dips 75 degrees to the north. Sheridan is a sulphide mineralized zone of 3 to 5 per cent disseminated pyrite and very fine-grained arsenopyrite, with quartz vein flooding.

At the Sheridan zone, the Orbit team drilled a total of 2,033 m in six holes, with one hole in progress (GW24-367) as of April 30. Rig SH-81 is currently drilling hole GW24-367. Two more holes for a total of 400 m are planned for Sheridan zone.

Quality assurance/quality control procedures

As of April 30, 5,041 samples from 32 holes have been sent to Activation Laboratories Timmins for gold analysis. In addition, 138 pulp samples have been sent to a secondary lab (Bureau Veritas) for gold analysis checking as part of industry-standard QA/QC procedures.

NQ drill core is oriented and cut in half, then sent to Activation Laboratories Timmins (Actlabs) for drying and crushing to minus two millimetres, with a riffle split 250 grams and pulverized (mild steel) to 95 per cent passing 105 micrometres (150 mesh). Actlabs is an ISO 17025 accredited laboratory. A 30-gram charge is fire assayed and analyzed using an 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 sample. Gowest inserts independently 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 corporation's North Timmins gold project (NTGP). Gowest is exploring additional gold targets on its 100-plus-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 grading 6.19 grams per tonne gold (g/t Au) containing 422,000 ounces (oz) Au and an inferred resource of 3.6 million tonnes 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.)/oz, totalling 1.8 million tonnes 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 standards.

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