Westhaven Provides an Update From its 2023 Exploration Programs Across the Spences Bridge Gold Belt - Seite 2

MIK Zone

Drilling in 2023 at MIK, 200m southwest of the Vein Zone 1 trend, was initially following up a 2011 drill hole. Additional step out drilling in the same area (eleven holes) has outlined a north trending moderately west dipping near-surface veinlet zone up to 30m wide that returned up to 17.81 g/t Au over 3.68m (hole SN23-360). The zone has been traced over a strike length of 180m and remains open to the north and south. Follow-up drilling this winter will initially focus on step-outs to the south where the mineralization is strengthening in terms of width.

Franz

The Franz outcrop was discovered in 2020, with initial surface sampling returning gold grades up to 51.1 g/t from the outcrop (see Press Release Aug 26, 2020). Subsequent drilling has returned Bonanza grade intervals such as 12.0m of 39.42 g/t gold (473 gram-metres intercept) in hole SN22-333 (see Press Release Jan 17, 2023). As part of Westhaven’s work to establish a resource within this 165m long vein system, the outcrop was washed and gridded in 2022, geologically mapped and surveyed (differential GPS and aerial photography) in early 2023 and systematically sampled in mid-2023. Westhaven used handheld percussion drilling equipment to complete a series of short (~30cm deep) drill holes along predefined survey controlled traverse lines defining a 1m x 3.5m sampling grid. The average gold grade from all 127 sites is 7.96 g/t and the average silver grade is 23.7 g/t. Seventeen samples returned over 10 g/t gold up to 191 g/t gold (silver values for the same 17 samples ranged from 43 to 226 g/t). A colour coded image outlining the distribution of gold results within the two exposed lobes of the outcrop is shown below. Distribution of gold values on the edges of both outcrops, and two samples from probable outcrop to the northwest (16.4 and 79.6 g/t gold), suggest mineralization continues beneath the current overburden cover. Next steps in the evaluation of the Franz mineralization may include additional surface sampling, continued collection of environmental baseline data, and preliminary resource modelling. Both percussion and core drilling completed at the Franz outcrop in 2023 (e.g. SN23-337 with 24.95m of 14.66 g/t gold and 35.5 g/t silver) as reported herein, will also support this work, and potentially facilitate the collection of a larger surface sample.