Gowest Engages Dumas for Bradshaw Restart

Hiring Personnel for Planned April Restart

Toronto, February 22, 2023 - Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Corporation") announced today that it has engaged Dumas Contracting Ltd. ("Dumas") in a four-year contract to assist with the restart of operations at the Bradshaw Gold Deposit ("Bradshaw"), targeting the resumption of underground work in April, 2023.

Dumas has already begun moving equipment to the site and is rapidly ramping up the mobilization process.

Based in Timmins, Ontario, Dumas is a leading, full-service mining contractor specializing in mine construction and development, production mining and engineering. It is the primary contractor working at numerous mines throughout the Americas, including several in northern Ontario.

Dan Gagnon, President and Chief Executive Officer of Gowest, added, "We are extremely pleased to have Dumas, with their extensive experience and focus on safety, as our long-term partner in restarting mining activities at Bradshaw. At the same time, now that we have the significant financial support of several of our major shareholders, we are also quickly advancing on several related fronts. This includes hiring personnel, mobilizing equipment, ordering consumables and other preparations to ensure Bradshaw's success as the next new gold mine in the Timmins camp."

The first underground work will focus on the development and production of the initial bulk sample area (East Zone), the development of ventilation infrastructure, as well as the development of a ramp to expand and access new ore zones.

The Corporation is also working towards finalizing an agreement for milling Bradshaw's ore and is working with several parties to determine the optimal approach for handling the gold concentrate.

Further updates will be provided as the Corporation continues to progress toward the anticipated restart of mining operations at Bradshaw.

Annual General and Special Meeting

As previously reported, an annual general and special meeting of shareholders of the Corporation (the "Meeting") is scheduled to be held on March 30, 2023, to obtain necessary shareholder approvals in connection with the Corporation's proposed private placements for aggregate gross proceeds of $25,000,000. Please refer to the details of Gowest news release dated January 26, 2023.

Careers

Experienced individuals interested in joining the Gowest team are advised to contact the company through its website: Careers - Gowest Gold.

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 Corporation'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 the gold price at that time 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 Corporation 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 Corporation 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.

For further information please contact:

Dan Gagnon
President & CEO
Tel: (416) 363-1210
Email: info@gowestgold.com

Greg Taylor
Investor Relations
Tel: (416) 605-5120
Email: gregt@gowestgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/155693