Update on Annual Meeting of Shareholders of Gowest Gold to be Held on January 29, 2021

TORONTO, Jan. 18, 2021 - Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) today provided an update on its annual and special meeting of shareholders scheduled to be held on January 29, 2021 (the “Meeting”).

In light of the COVID-19 pandemic and in keeping with the current Government of Ontario stay-at-home order, and in the interest of protecting the health and safety of Gowest’s shareholders, employees and the communities in which they live, we ask that shareholders refrain from attending the Meeting in person. Rather, shareholders are strongly encouraged to vote by proxy in advance of the Meeting. Only the minimum number of proxyholders and shareholders as are required to conduct the Meeting will be permitted to attend in person.

The vast majority of our shareholders typically vote by proxy and we encourage shareholders to continue to vote in this manner. In order to ensure as many common shares as possible are represented at the Meeting, shareholders are encouraged to complete the instrument of proxy provided to them and follow the instructions set out therein and in the related management information circular of the Company dated December 15, 2020 (which is available on the Company’s website at www.gowestgold.com).

To be effective, a proxy must be deposited with the Company’s transfer agent and registrar, TSX Trust Company, 301-100 Adelaide Street West, Toronto, Ontario, M5H 1S3 (Attention: Proxy Department), on or before 10:00 a.m. (Toronto time) on Wednesday, January 27, 2021, or at least 48 hours, excluding Saturdays, Sundays and holidays, before any adjournment or postponement of the Meeting at which the proxy is to be used.

Shareholders may listen to the Meeting by live audio teleconference starting at 10:00 a.m. (Toronto time) on January 29, 2021 using the following teleconference instructions:

• Teleconference Number: 647-797-0071 (local) or 1-833-600-1823 (toll free in Canada)
• Conference Room Number: 363-541-656# (when prompted)

Please note that shareholders will not be entitled to vote at, or otherwise participate in, the Meeting by way of teleconference or other electronic means.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the 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 more than 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, totalling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Qualified Person

The technical information in this news release has been reviewed and approved by Yungang Wu, P.Geo., Gowest’s Senior Geologist, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

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.

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.