Westhaven Drills 7.78 Metres of 14.84 g/t GOLD and 39.40 g/t Silver at the Newly Discovered Franz Zone at Shovelnose

VANCOUVER, Sept. 24, 2020 - Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce drill results from its first hole at the newly discovered Franz Zone, part of the 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.

Highlights from SN20-101 (Franz Zone)

• (18.36 – 26.14m): 7.78 metres (m) of 14.84 g/t gold (Au) and 39.40 g/t silver (Ag).
  
  
• (41.12 – 57.44m): 16.32m of 2.37 g/t Au and 31.15 g/t Ag.
  
  
• The newly discovered Franz Zone is located approximately 2.8 kilometres along strike from the high-grade gold discovery at the South Zone; over half of this strike length has not been drill tested.
  

Gareth Thomas, President & CEO of Westhaven Gold stated: “Our goal at the start of this year was to find additional high-grade gold zones at Shovelnose. The Franz Zone outcrop was discovered in mid-August and grab samples returned assays of up to 51.10 g/t gold. This drilling confirms that high-grade gold exists at depth and not just on surface. Though we only have the assays back for one hole, we are seeing similar veining and textures in other drill holes at Franz. We will release assays from holes as they are received. It is important to highlight that this 17,000-hectare property is still largely underexplored. We are confident we will find additional high-grade gold zones as mapping, prospecting, geophysics and drilling continues.”

Peter Fischl, Exploration Manager for Westhaven Gold, adds: “These drill results confirm the presence of high-grade gold mineralization encountered in surface grab samples collected on the Franz Zone. The zone is currently being tested with one drill. Eight holes have been completed on four sections spaced 50m apart. The zone has been intersected in all holes, giving a drill-tested strike length of 150m. The Franz Zone appears to be part of a single northwest trending multi-kilometre scale gold bearing vein system that includes the more recently drilled South Zone and the historic Mik and Tower showings. This vein system will continue to be the focus of much of the exploration effort at the Shovelnose Gold Project.”

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration.

On behalf of the Board of Directors
Westhaven Gold Corp.

"Gareth Thomas"

Gareth Thomas, President, CEO & Director

Qualified Person Statement

Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.

QA/QC

Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility. Each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f73bd0b1-57e4-4b2a-8ef5-cd542c690b09

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