Mr. Gareth Thomas reports

WESTHAVEN DRILLS 17.61 G/T GOLD OVER 3.68 METRES, INCLUDING 27.6 G/T GOLD OVER 1.65 METRES; THE HIGHEST-GRADE GOLD INTERCEPT OFF ZONE ONE TREND

Westhaven Gold Corp. has provided an exploration update on its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge gold belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, B.C.

Highlights from the continuing program include:

• MIK hole SN23-360 intersected 3.68 metres (m) of 17.61 grams per tonne gold (Au) and 31.49 g/t silver (Ag), including 1.65 m of 27.6 g/t Au. Five drill holes from MIK are pending assays.
• MIK hole SN23-362 intersected 2.44 m of 3.43 g/t gold and 15.65 g/t silver, including 0.44 m of 12.9 g/t Au and 73.2 g/t Ag.
• Drilling at the hydrothermal breccia No. 2 (HBX2) extended the known mineralization by 180 m, intersecting 5.51 m of 0.58 g/t Au and 0.49 g/t Ag, including 1.5 g/t Au over one m.
• Twenty-three silt samples collected have assays over 100 parts per billion gold (Au), including 1,985 ppb Au, 1,440 ppb Au, 871 ppb Au, 328 ppb Au and 282 ppb Au.
• Recent prospecting, approximately three kilometres (km) southeast of the South zone, has uncovered a showing of tuff containing fragments of hydrothermal quartz, within 150 m of a gold soil anomaly. Grab sample assays are pending.

Gareth Thomas, president and chief executive officer, states: "Drilling the highest-grade gold intercept (17.61 g/t gold over 3.68 metres, including 27.6 g/t gold over 1.65 metres) off the main Zone One trend that hosts all the major discoveries since late 2018 adds to our conviction that the large and underexplored Shovelnose gold property has a lot more discoveries to be made. Not only has this additional drilling improved our understanding of the MIK target area, but it has also opened up a highly prospective area that warrants further follow-up drilling in the near term." Mr. Thomas goes on to add: "Our technical team has been prospecting, mapping and sampling underexplored areas on Shovelnose where new showings have been discovered, including a hydrothermal outcrop approximately three km southeast of the South zone along strike. We look forward to further defining these new targets with the goal to drill test them soon."

Peter Fischl, exploration manager, states: "Follow-up drilling of a historic drill hole intersection of 6.21 g/t Au over 0.4 m (hole 11-SH-03) at the MIK showing has now traced a north-trending, moderately west-dipping vein zone, over a strike length of 120 m, as present in all eight drill holes. The zone comes within 150 m of Zone One trend, and it remains open to the north and south. The gap between MIK and the Zone One trend is now viewed as an area prospective for additional near-surface vein-hosted gold mineralization."

Drill program

Westhaven is reporting assays for 23 holes from its fully financed, continuing drill campaign at Shovelnose. An additional 13 holes are in the lab pending assays. Recent drilling has focused on newly generated, periphery targets that are off the four-kilometre Zone One trend.

MIK target

In addition to testing new targets, and supported by an improved understanding of controls on vein emplacement, Westhaven has been re-evaluating historic drill results on the Shovelnose property. Drill testing has led to the identification of a shallow, moderately west-dipping vein system returning an initial result of 17.61 g/t over 3.68 m (hole SN23-360; as reported herein). The vein system was intersected in all eight new holes drilled at MIK and extends over a strike length of approximately 120 m and is open to both the north and south.

Hydrothermal breccia No. 2 target

The hydrothermal breccia No. 2 target was drilled this year to follow up the initial drilling of last year that returned up to 3.28 g/t Au over 0.92 m (SN22-249). Three of the four holes encountered quartz veining similar to the gold-bearing vein zones encountered last year. This year's drilling has extended a zone of quartz veining southward from hole SN22-257 (1.39 g/t Au over 1.2 m and 1.23 g/t Au over six m) for a strike length of 180 m to holes SN23-341 (0.58 g/t Au over 5.51 m) and SN23-342 (0.96 g/t Au over 0.92 m). Veining occurs along a north-northwest-trending, moderate to steep southwest-dipping structural contact between the overlying Spences Bridge group volcanics and underlying quartz veined granodiorite basement (Nicola group). This zone remains open to the north and south.

Franz zone

To complement previously completed drilling at the Franz zone, establish a mineral resource and to potentially facilitate the collection of a larger surface sample at the 165 m long vein system, detailed geological mapping (see press release dated May 21, 2023) has been completed. The mapping was used to guide the initial systematic acquisition of approximately 91 surface samples from the outcrop. Samples were collected by hand drilling approximately 30-centimetre-deep holes at one-metre intervals on four lines (15 to 25 m length) that profile the eastern outcrop exposure and represent an area of approximately 240 square metres. Analytical results are pending but limited past surface grab sampling at the time of discovery returned up to 51.1 g/t gold (see press release dated Aug. 26, 2020). Recent exploration drilling at the Franz showing returned 39.42 g/t gold over 12 m (SN22-333) and 14.66 g/t gold over 24.95 m in hole SN23-337 (see press release dated May 21, 2023). Next steps at Franz would potentially be surface sampling of the western outcrop exposure, additional shallow delineation drilling and preliminary metallurgical test work.

Kirton target

Twelve holes were drilled on the Kirton target two km southwest of vein zone 1 on the western portion of the Shovelnose property. Geological mapping of outcrops and historic trenches uncovered several showings of quartz veining and hydrothermal brecciation that were tested by drilling, including the Brookmere East/YJ vein, a prominent zone of veining that has been traced northwest for 200 m in outcrop. Drilling successfully intersected quartz veining down dip from surface exposures, though no significant gold results were returned.

Odlum target

Five holes were drilled on two northeast-directed profiles at the Odlum target in the central part of the Shovelnose property. These holes tested two prominent northwest-trending magnetic lows with coincident anomalous arsenic and gold soil geochemistry. One hole intersected a zone of quartz veining on the hydrothermal breccia No. 7 target over a 20 m width, though no significant gold results were returned.

Silt sampling program

Westhaven has collected sediment samples from 268 sites throughout the property, which have returned many anomalous gold results. Strong responses are evident in streams draining known mineralization associated with the recently released South zone underground PEA I (see press release dated July 18, 2023). There are prominent stream sediment anomalies situated to the east and southeast of the vein system that have yet to be drill tested to date, and that cannot be explained by any known gold occurrences. They are neither downstream, nor down ice, and therefore suggest the presence of further low-sulphidation epithermal gold-silver mineralization on the property. Systematic soil sampling results support and enhance the stream sediment anomalies. Westhaven is currently following up on these results with prospecting, mapping and rock sampling. Several gold-bearing quartz float boulders have been discovered (up to 0.5 g/t gold) but the bedrock source has not been identified. Close to 700 rock samples have been collected from specific areas of interest in 2023, as well as regionally throughout the property, and additional assays are pending.

Archeological, cultural and heritage surveys

In collaboration with local first nation groups and consultants, Westhaven continues its continuing preliminary field reconnaissance (PFR) and heritage field reconnaissance (HFR) studies. PFRs and HFRs are completed prior to any ground disturbance to assist in locating sites of potential cultural and/or historical value so they can be avoided. In 2023 alone, over 250 PFR/HFR sites have been completed on Westhaven's properties within the Spences Bridge gold belt, with the majority taking place on its flagship Shovelnose property.

Environmental baseline property (environmental assessment)

Westhaven is in its third year of environmental baseline assessment. The purpose of this program is to support future permitting on the property with a focus on multiyear programs. Westhaven is committed to transparent, continuing consultation with local first nations and surrounding communities, and providing the environmental baseline reports and findings with concerned parties helps to ensure a responsible and ethical path forward.

Qualified person statement

Mr. Fischl, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this release.

Quality assurance/quality control

Core samples were prepared using the PREP-31 package in ALS's Kamloops facility. Each core sample is crushed to better than 70 per cent passing a two-millimetre (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 grams is taken and pulverized to better than 85 per cent passing a 75-micron (Tyler 200 mesh, U.S. Std. No. 200) screen. Of this pulverized split, 0.75 gram is digested by four acids and analyzed via inductively coupled plasma mass spectrometry (method code ME-MS61m (plus mercury)), which reports a 49-element suite of elements. All samples are analyzed by fire assay with an atomic emission spectroscopy finish, method code Au-ICP21 (30-gram sample size). Additional Au screening is performed using ALS's Au-SCR24 method, select samples are dry screened to 100 microns. A duplicate 50-gram fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS's North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold. Westhaven's continuing quality assurance and quality control programs include auditing of all exploration data. Any significant changes will be reported when available.

Westhaven has engaged the services of LFG Equities Corp. to provide digital media and marketing services. LFG, a Toronto-based company, will provide content development, media buying and distribution, and marketing services through social media channels and on-line media placements to the company. The company and LFG act at arm's length, and LFG has no present interest, directly or indirectly, in the company or its securities. Under the terms of the agreement, LFG will be paid $8,333 per month plus applicable taxes for a period of three months.

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada's newest gold district, the Spences Bridge gold belt. Westhaven controls 37,000 hectares (370 square kilometres) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines and within commuting distance from the city of Merritt, which translates into low-cost exploration.

We seek Safe Harbor.