Mr. Dan Gagnon reports

GOWEST GOLD LTD. COMPLETES GO PRIVATE TRANSACTION

Gowest Gold Ltd. has completed its previously announced plan of arrangement of the company under Section 182 of the Business Corporations Act (Ontario), pursuant to which a group of existing shareholders of Gowest acquired all of the outstanding common shares of Gowest not already owned by the acquiring group, for cash consideration of 15 cents per share, resulting in the members of acquiring group being the only shareholders of the company.

Further, pursuant to the arrangement, (i) all outstanding common share purchase warrants of Gowest were acquired by the company for an amount in cash per warrant equal to the amount, if any, by which the share consideration exceeded the exercise price of such warrant and (ii) all outstanding stock options of Gowest were acquired by the company for an amount in cash per stock option equal to the amount, if any, by which the share consideration exceeded the exercise price of such stock option.

The shares are expected to be delisted from the TSX Venture Exchange on or about Sept. 24, 2024. The company intends to submit an application to the applicable securities regulators to have Gowest cease to be a reporting issuer and terminate its public reporting obligations.

Information for former shareholders

In order to receive the share consideration in exchange for shares, registered shareholders of Gowest must complete, sign, date and return the letter of transmittal that was delivered to each registered shareholder prior to the effective time of the arrangement. The letter of transmittal is also available under the company's profile on SEDAR+.

For those former shareholders of Gowest whose shares are registered in the name of a broker, investment dealer, bank, trust company, trust, or other intermediary or nominee, they should contact such nominee for assistance in depositing their shares and should follow the instructions of such intermediary or nominee.

For further information regarding the arrangement, please refer to the management information circular of the company dated as of July 24, 2024, a copy of which is available under the company's profile on SEDAR+.

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).

We seek Safe Harbor.