Westhaven Closes CDN$3 Million Private Placement with Dundee Corporation

Core Viewpoint - Westhaven Gold Corp. has successfully closed a private placement with Dundee Corporation, raising CDN$3 million through the issuance of 12 million common shares at CDN$0.25 per share [1][2]. Group 1: Financing Details - The financing will allocate up to CDN$2 million for exploration activities, primarily for drilling, with CDN$500,000 designated for property maintenance and the remainder for general working capital [2]. - The common shares issued are subject to resale restrictions in accordance with Canadian securities legislation and TSX Venture Exchange policies [2]. Group 2: Company Overview - Westhaven Gold Corp. is focused on gold exploration and development, targeting high-grade epithermal gold mineralization in the Spences Bridge Gold Belt, British Columbia, controlling approximately 61,512 hectares across four properties [3]. Group 3: Project Highlights - The Shovelnose Gold project is the most advanced, featuring a 2025 Preliminary Economic Assessment that indicates an 11-year underground mining opportunity with an average annual production of 56,000 ounces of gold and 313,000 ounces of silver [4]. - The project has an after-tax net present value of CDN$454 million at a 6% discount rate and an internal rate of return (IRR) of 43.2%, based on base case parameters of US$2,400 per ounce of gold and US$28 per ounce of silver [4].