Mr. Shaun Pollard reports

WESTHAVEN CLOSES FINAL TRANCHE OF NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT; GRANTS OPTIONS

Westhaven Gold Corp. has closed the final tranche of the non-brokered private placement announced on Feb. 20, 2024. Westhaven has issued a total of 7,926,182 common shares that qualify as flow-through (FT) shares of the company for the purposes of the Income Tax Act (Canada) at a price of 23 cents per FT common share for aggregate gross proceeds of $1,823,022.

Proceeds from the offering will be used to incur Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) related to Westhaven's projects in British Columbia, Canada. The company will renounce these expenses to the purchasers of the FT shares with an effective date of no later than Dec. 31, 2024.

On March 20, 2024, the company announced that it had initiated a 4,000-metre diamond drill program on its 17,623-hectare Shovelnose gold property, located within the prospective Spences Bridge gold belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, B.C.

The private placement remains subject to TSX Venture Exchange approval. The securities issued in the first closing are subject to a hold period and may not be traded before July 11, 2024. The 1,010,869 securities issued in the final tranche are subject to a hold period and may not be traded before July 28, 2024.

The company paid finders' fees of $26,508 to Red Cloud Securities Inc., $25,875 to National Bank Financial Inc., $24,150 to Generic Capital Corp., $16,261 to Research Capital Corp., $6,679 to iA Private Wealth Inc., $3,900 to Haywood Securities Inc., $1,504 to Raymond James Ltd., $1,311 to PI Financial Corp. and $1,000 to SCP Resource Finance LP.

Westhaven has granted 3.9 million incentive stock options to directors, officers and consultants. The incentive stock options have an exercise price of 25 cents per share, are valid for a five-year period from the date of grant and are subject to regulatory approval.

The company's stock option plan allows for the issuance of up to 10 per cent of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the company has 13,335,000 stock options issued, representing 9 per cent of the issued and outstanding share capital.

We seek Safe Harbor.