VANCOUVER, British Columbia, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V: WHN) (“Westhaven” or the “Company”) is pleased to report results from the final five drill holes of its 2025 drilling program at the Shovelnose Gold Project (“Shovelnose”), located within southern British Columbia’s Spences Bridge Gold Belt (“SBGB”). Highlights of this work include: SN25-442 (South Zone) assays returned 70.79m grading 1.13 g/t Au and 14.1 g/t Ag, including 8.05m grading 6.18 g/t Au and 89.7 g/t Ag. P ...

Core Insights - Westhaven Gold Corp. has successfully completed an upsized summer drilling program at its 100%-owned Shovelnose Gold Project, confirming the resource model and validating a new exploration model for potential gold mineralization [1][3][6]. Drilling Program Overview - The 2025 summer drilling program consisted of 13 drill holes totaling 6,202 meters, which is more than double the initially planned 3,000 meters [4][6]. - Drilling focused on structural and geochemical targets, confirming significant structural offsets and the presence of epithermal mineralization [3][6]. Resource Confirmation - Drill holes SN25-432 and SN25-442 confirmed the resource model by intersecting expected intervals of epithermal mineralization, including notable grades of gold and silver [7][8]. - The South Zone resource model has been validated, indicating strong potential for additional epithermal gold systems [6][14]. Economic Assessment - The March 2025 Preliminary Economic Assessment (PEA) outlines an 11-year underground mining opportunity with an after-tax NPV of CAD$454 million and an IRR of 43.2% at a gold price of US$2,400 per ounce [6][19]. - Initial capital costs are projected at CAD$184 million, with a payback period of 2.1 years [19]. Strategic Location - The Shovelnose project is strategically located 2.5 hours from Vancouver, providing direct road and power access, which significantly reduces exploration and development costs compared to more remote projects [6][19]. Exploration Potential - The exploration program has identified a 100 km strike extent of the Spences Bridge Gold Belt, with over 1,800 geochemical samples collected, indicating substantial regional exploration potential [6][19]. - The company aims to continue systematic exploration drilling to unlock new discoveries and prepare for integrated engineering and environmental studies for project development [14][19]. Technical Leadership - Westhaven's technical team has been strengthened with new appointments, including CEO Ken Armstrong and other key positions, bringing world-class expertise to the exploration and development strategy [6][19].