Westhaven Commences Summer Drill Program On The Shovelnose Gold Project, Southern British Columbia

Core Viewpoint - Westhaven Gold Corp. has initiated a 5,000-meter exploration drilling program at its Shovelnose gold project, aiming to identify new areas of low sulphidation epithermal gold mineralization in the Spences Bridge Gold Belt of Southern British Columbia [1][2]. Group 1: Exploration and Drilling Plans - The summer exploration at Shovelnose is focused on testing several 'step change' target areas to discover new gold mineralization that would enhance existing deposits [2]. - The drilling program includes plans to complete at least one drill hole for additional geotechnical, geochemical, and metallurgical data on Vein Zones 1, 2, and 3 within the South Zone [2]. Group 2: Project Overview and Economic Assessment - Westhaven Gold Corp. controls approximately 61,512 hectares in the Spences Bridge Gold Belt, with the Shovelnose Gold project being the most advanced property [4]. - The recently updated 2025 Preliminary Economic Assessment indicates the potential for a robust, low-cost, high-margin underground gold mining opportunity, with an average annual life-of-mine gold production of 56,000 ounces [4]. - The project has an after-tax NPV at 6% of Cdn$454 million and an IRR of 43.2%, based on base case parameters of US$2,400 per ounce gold and US$28 per ounce silver [4]. - Initial capital costs are projected at Cdn$184 million, with a payback period of 2.1 years [4]. Group 3: Company Leadership and Contact Information - Ken Armstrong serves as the President and CEO of Westhaven Gold Corp. and is responsible for the news release [3]. - For further inquiries, the company can be contacted at 604-681-5558 or through their website [5].