Gowest Gold Provides Corporate Update - Seite 2

Currently, all environmental approvals are in place for the Mine Production phase, with the exception of the Mine Production Closure Plan, which is the subject of this meeting. The Bradshaw site was designed and developed for eventual mine production, with a minimal surface footprint. No ore processing will occur at the mine site.

The main project infrastructure that will be required for the Mine Production Stage includes:

• Advancement of underground mine workings;
  
  
• Construction of a new vent raise and escapeway; and,
  
  
• Some additional ancillary buildings and storage areas.

All interested persons are encouraged to actively provide input into the Production Mine Closure Plan.

Shares for Debt 

As previously announced (see Gowest news release dated December 20, 2020), the Company has issued 2,725,000 common shares of the Company to settle an aggregate of $545,000 of indebtedness. The shares are issued in lieu of cash in order to conserve the cash resources of the Corporation

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP).  Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp.  Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Forward-Looking Statements

This news release may contain certain “forward looking statements.”  Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.