Announcement • May 09

Westhaven Gold Corp. Returns 54m Grading 8.99 G/T Au And 55 G/T Ag From Resource In-Fill Drilling And Initiates South Zone Pre-Feasibility Study

Westhaven Gold Corp. provided an update on its 2026 field activities at the Shovelnose gold and silver project ("Shovelnose"), in southern British Columbia, including initial mineral resource in-fill drilling results and the commencement of a Prefeasibility Study ("PFS") evaluating potential mine development at the South Zone deposit. This work is being funded under a strategic earn-in agreement with Dundee Corporation ("Dundee"), whereby Dundee may earn up to a 60% interest in Westhaven's four Spences Bridge Gold Belt properties through up to CAD 85,000 million in staged project expenditures. Under the first phase, Dundee has committed a minimum of CAD 30,000 million, inclusive of a fully funded 50,000m drill program and Pre-Feasibility work at Shovelnose. 8,537m of drilling (32 drill holes) have been completed within the South Zone deposit, representing ~23% of the planned mineral resource drilling program. Assay results from 14 drill holes (3,500m; ~10% of planned in-fill drilling) have been received, with notable results including 54.0m grading 8.99 g/t Au and 55 g/t Ag (SNR26-070) and 42.0m grading 4.35 g/t Au and 41 g/t Ag (SNR26-63). The drill program is expected to increase from two to four drills by May 15, 2026, ahead of schedule. Initial drilling is focused on completing ~35,000m of mineral resource in-fill drilling at the South Zone deposit, targeting inclusion in an updated Mineral Resource Estimate ("MRE") to support the PFS, with anticipated completion in H2 2027. The 2026 drilling program is also expected to include ~15,000m of exploration drilling and additional dedicated drilling for hydrogeological, geotechnical and metallurgical studies in support of the PFS. Environmental Assessment ("EA") level environmental and socio-economic baseline programs are currently being developed, with implementation to follow in support of the PFS and future EA application. The 35,000m South Zone mineral resource drilling program has been designed to infill the deposit at nominal 25m centres. To date, 32 drill holes (8,537m) have been completed representing approximately 23% of the planned program metreage. Initial results from 14 holes (3,500m or 10% of the planned metreage) are reported in this news release. Selected assay highlights include: SNR26-61: 12.02m grading 3.34 g/t Au and 24 g/t Ag from 142.00m downhole; SNR26-63: 42.00m grading 4.35 g/t Au and 41 g/t Ag from 148.00m downhole; SNR26-68: 9.04m grading 3.98 g/t Au and 23 g/t Ag from 190.00m downhole, and 6.03m grading 3.74 g/t Au and 27 g/t Ag from 218.00m downhole, and 6.70m grading 4.08 g/t Au and 19 g/t Ag from 228.97m downhole; SNR26-69: 11.75m grading 3.89 g/t Au and 25 g/t Ag from 161.15m downhole, and 9.50m grading 7.38 g/t Au and 68 g/t Ag from 184.50m downhole, and 1.26m grading 62.80 g/t Au and 330 g/t Ag from 198.04m downhole; SNR26-70: 54.00m grading 8.99 g/t Au and 55 g/t Ag from 152.00m downhole, including 23.00m grading 17.04 g/t Au and 111 g/t Ag from 169.60 downhole; SNR26-72: 6.90m grading 4.98 g/t Au and 18 g/t Ag from 237.50m downhole, and 4.49m grading 12.44 g/t Au and 46 g/t Ag from 257.00m downhole. Assay intervals noted above represent downhole intersections, not true widths. True widths can be estimated at approximately 70-80% of the reported intervals. Table 1 shows assay results, including drill hole locations and orientations, located at the end of this release and linked here. The PFS is expected to be completed in H2 2027 and will focus on evaluating development and mine design scenarios for the South Zone deposit at Shovelnose. The PFS will establish the technical and economic framework required to advance the project toward a potential Feasibility Study. In addition to ongoing mineral resource drilling and the planned update to the South Zone MRE, several 2026 work streams are either underway or planned in support of the PFS, including metallurgical, hydrogeology and geotechnical studies. Additional drilling metreage is expected to be allocated to support this work. EA-level environment and socio-economic baseline studies are also in development and will be implemented in support of the PFS and future EA application and project permitting processes. Most core samples consist of halved drill core cut by manual sawing using industry standard core saws. In rare cases, and where required by physical core conditions, manual splitting may be used. Half of the core is retained in the original core box for reference samples and any required future work, including QA/QC. Core samples, controlled by a unique bar-coded reference number, are delivered to ALS’s Kamloops facility and prepared using the PREP-31 package. Each core sample is crushed to better than 70% passing a 2mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. Further analytical and assay procedures are conducted in ALS’s North Vancouver facility. A 0.75g subsample of the pulverized split is subjected to four acid digestion and analyzed via ICP-MS (method code ME-MS61m (+Hg)) which reports a suite of 49 elements. All samples are also analyzed for gold by fire assay with an AES finish, method code Au-ICP21 (30g sample size). Samples returning gold values over 10ppm are subjected to over-limit check assays using fire assay and a gravimetric finish (method code Au-GRA21 and a 30g sample size). Other over-limit elements may also be subjected to ore grade analyses which vary depending on the element of interest. ALS’s facilities are accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. QA/QC incorporates the laboratory’s internal quality assurance controls as well as Westhaven’s field controls, including the insertion of quarter core duplicates, certified reference materials and blanks, each at a rate of roughly one per 20-25 core samples. Additional blanks are inserted following samples with visible gold or significant concentrations of ginguro (fine grained bands of dark gray to black sulphides). QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates, standards and blanks fall outside allowed tolerances. Westhaven’s ongoing QA/QC programs are consistent with industry best practices and include auditing of all exploration data. Any significant changes will be reported when available. Reported intervals are at least 2m in length with a 1 g/t Au cut-off for individual samples and no more than 3m contiguous metres dilution. Reported interval is less than 2.00m. Reported interval includes 3.17m grading <1.0 g/t from 200.90-204.07m.

CEO salary percentage	48.64%
CEO tenure	1.1yrs
CEO ownership	0.04%
Management average tenure	1.4yrs
Board average tenure	6.4yrs

Date	Total Compensation	Salary	Company Earnings
Mar 31 2026	n/a	n/a	-CA$4m
Dec 31 2025	CA$308k	CA$150k	-CA$3m

Name	Position	Tenure	Compensation	Ownership
Kenneth Armstrong	CEO & President	1.1yrs	CA$308.40k	0.039% CA$ 32.6k
Grenville Thomas	Co-Founder	no data	CA$650.65k	1.66% CA$ 1.4m
Zara Boldt	Chief Financial Officer & Secretary	1.8yrs	CA$141.00k	0.073% CA$ 61.8k
Robin Hopkins	Vice President of Exploration	no data	CA$200.26k	0.0038% CA$ 3.2k
Ryan Fetterley	Vice President of Operations	6.1yrs	no data	no data
Kaeli Gattens	Vice President of Communications	less than a year	no data	no data

Name	Position	Tenure	Compensation	Ownership
Grenville Thomas	Co-Founder	16.1yrs	CA$650.65k	1.66% CA$ 1.4m
Eira Thomas	Chairman	2.4yrs	CA$21.20k	1.28% CA$ 1.1m
Patrick Fergus Anderson	Independent Director	less than a year	no data	no data
Victor Tanaka	Independent Director	16.1yrs	CA$21.20k	1.13% CA$ 958.8k
Paul McRae	Independent Director	4.6yrs	CA$21.20k	no data
Hannah McDonald	Independent Director	8.3yrs	CA$21.20k	0.027% CA$ 22.9k

Data	Last Updated (UTC time)
Company Analysis	2026/06/03 13:05
End of Day Share Price	2026/06/03 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Westhaven Gold Management

Management criteria checks 1/4

Key information

Recent management updates

Westhaven Gold Corp., Annual General Meeting, Jun 24, 2026

Westhaven Gold Corp. Appoints Patrick F.N. Anderson to Its Board of Directors as an Independent Director

Insider recently bought CA$270k worth of stock

Westhaven Gold Corp., Annual General Meeting, Jun 24, 2025

Westhaven Gold Corp. Announces CEO Changes

Insider recently bought CA$76k worth of stock

Recent updates

Westhaven Gold Corp Reports Resource Infill Drilling Results At Shovelnose Property

Westhaven Gold Corp. Returns 54m Grading 8.99 G/T Au And 55 G/T Ag From Resource In-Fill Drilling And Initiates South Zone Pre-Feasibility Study

Westhaven Gold Corp., Annual General Meeting, Jun 24, 2026

New major risk - Share price stability

Westhaven Launches 50,000m 2026 Drill Program At the Shovelnose Gold and Silver Project, Southern British Columbia

Westhaven Gold Corp. Appoints Patrick F.N. Anderson to Its Board of Directors as an Independent Director

Westhaven Gold Corp. Reports Final 2025 Drilling Results from the Shovelnose Gold Project, British Columbia, Including 8.05M Grading 6.18 G/T Au and 89.7 G/T Ag At South Zone Deposit

Price target decreased by 12% to CA$1.10

New minor risk - Share price stability

New major risk - Financial position

Westhaven Advances Exploration and Development Programs At Shovelnose Gold Project, Southern British Columbia

Price target increased by 8.7% to CA$1.25

New minor risk - Share price stability

Price target decreased by 8.0% to CA$1.15

New minor risk - Share price stability

Westhaven Gold Corp. announced that it has received CAD 3.16 million in funding from EarthLabs Inc and other investor.

Westhaven Gold Corp. Commences Summer Drill Program on the Shovelnose Gold Project, Southern British Columbia

Westhaven Gold Corp. announced that it expects to receive CAD 3.16 million in funding from EarthLabs Inc.

New major risk - Shareholder dilution

Westhaven Gold Corp. Commences Summer Program and Provides Exploration Update on Spences Bridge Gold Belt Projects

New major risk - Shareholder dilution

Westhaven Gold Corp. announced that it has received CAD 4.6 million in funding

Westhaven Gold Corp. announced that it expects to receive CAD 4 million in funding

Insider recently bought CA$270k worth of stock

Westhaven Gold Corp., Annual General Meeting, Jun 24, 2025

New major risk - Financial position

Westhaven Gold Corp. Files Technical Report in Support of Updated Preliminary Economic Assessment for the Shovelnose Gold Project, British Columbia

Westhaven Gold Corp. Announces CEO Changes

Insider recently bought CA$76k worth of stock

Price target decreased by 7.7% to CA$1.20

Westhaven Gold Corp. Announces Updated Preliminary Economic Assessment for the Shovelnose Gold Project, British Columbia

Westhaven Gold Corp. Commences Winter Drill Program on the Shovelnose Gold Property

Westhaven Gold Corp. Announces CFO Changes

New minor risk - Share price stability

Westhaven Gold Corp. Appoints Peter Fischl, P.Geo. as Chief Geologist

Westhaven Gold Corp. Announces Final Drill Results from the Certes Target and to Provide A Summary of All 2024 Exploration Activities At the Shovelnose Gold Property

New major risk - Financial position

Westhaven Gold Corp. Provides an Exploration Update At Its Shovelnose Gold Property

Westhaven Gold Corp. announced that it has received CAD 6.000005 million in funding

Westhaven Gold Corp. announced that it expects to receive CAD 5 million in funding

Westhaven Gold Announces CFO Changes

New major risk - Financial position

Westhaven Gold Corp. Provides an Exploration Update on its Prospect Valley Property

Westhaven Gold Corp. Provides an Exploration Update At its Shovelnose Gold Property

Westhaven Gold Corp. (TSXV:WHN) entered into purchase agreement to acquire 12 claims covering 23,550 hectares in Shovelnose gold property from Talisker Resources Ltd. (TSX:TSK) for CAD 0.32 million.

Westhaven Gold Corp. announced that it expects to receive CAD 1.61 million in funding

Westhaven Gold Corp. Provides an Exploration Update on the Shovelnose Gold Property; Discovers a New Vein Zone at Carmi

New major risk - Financial position

Westhaven Gold Corp., Annual General Meeting, Jun 24, 2024

Westhaven Gold Corp. announced that it has received CAD 1.823022 million in funding

Westhaven Gold Corp. Commences Drilling at its Shovelnose Gold Project

New minor risk - Shareholder dilution

Westhaven Gold Corp. announced that it expects to receive CAD 2.3 million in funding

Westhaven Gold Corp. Receives 650 Drill Hole Permit on Its 100% Owned 17,623-Hectare Shovelnose Gold Property

Westhaven Gold Corp. Announces Board Changes

Westhaven Gold Corp. Provides an Update from its 2023 Exploration Programs Across the Spences Bridge Gold Belt

Westhaven Gold Corp. Provides an Exploration Update on Its 17,623-Hectare Shovelnose Gold Property

Price target increased by 11% to CA$1.03

Westhaven Gold Corp. Reports the Completion of a Preliminary Economic Assessment at its 100% Owned 17,623-Hectare Shovelnose Gold Property

Westhaven Gold Corp. Provides an Update on Its Skoonka North Program: Assays 1,720 Pb Gold in Silt Sample

Westhaven Gold Corp., Annual General Meeting, Sep 22, 2023

Westhaven Gold Corp. Announces Drill Results from Its Drill Campaign At Its 100% Owned 17,623-Hectare Shovelnose Gold Property

Westhaven Gold Corp. Drills 5.66 Metres of 6.83 G/T Gold and 1.90 Metres of 21.15 G/T Gold At the Skoonka Creek Gold Property

Westhaven Gold Corp. Completes Its Inaugural Drill Program at Skoonka Creek Gold Property; Extends Vein Zone by 940 Metres

Price target decreased to CA$0.93

Westhaven Gold Corp. Announces the Drill Results

Westhaven Gold Corp. Commences Drill Program At Skoonka Creek Gold Property

Price target decreased to CA$0.93

Westhaven Gold Corp. announced that it has received CAD 1 million in funding from Franco-Nevada Corporation and other investors