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Gowest Shows Value

May 9, 2023

Patience & Perseverance pays off in the Goldmine Development Business


Gowest a Canadian gold exploration and development company is 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 a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
After several years of false starts and setbacks Gowest Gold has set its house in order and set it’s course advancing the Bradshaw Gold Deposit  as the next new gold mine in the legendary Timmins Mining Camp by hiring Dumas Contracting Ltd. for a four-year contract to assist with the restart of operations.  
Work is set to resume at the Bradshaw Gold Deposit in April, 2023 targeting the resumption of underground for the bulk sample collection. Dumas has wasted no time as they have 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.


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 “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,” said Dan Gagnon, President and Chief Executive Officer of Gowest.
Dan Gagnon was appointed President and Chief Executive Officer of the Corporation in October 2021. Dan who is from and lives in Timmins, brings over 30 years of experience in geology and general management from a wide range of operations across Canada.
Dan has been in similar positions in the past as he was recently Vice President Operations with Harte Gold Corp, where he helped to optimize the operation at the Sugar Zone Mine in White River, Ontario. He was also Senior Vice President of Operations for Lakeshore Gold. Dan started his career in geology, ending after 13 years as Chief Geologist at Musselwhite Mine in Ontario. Over the following 17 years, he worked as General Manager at a number of Canadian operations, including TMAC Resources’ Hope Bay Project in Nunavut, Canada. Mr. Gagnon holds a Bachelor of Science with Specialization in Geology from the University of Ottawa.
Dan added, “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.”
Dan Gagnon said “Gowest Gold Ltd. Production restart at its Bradshaw Deposit near Timmins Ontario in April of 2023 is great news for Gowest Gold Ltd., its shareholders, and the Timmins Community as it creates jobs and supports local services and suppliers.
2023 will be a very important year for our growth, as we also plan to expand our geological resources and reserves through additional exploration”.
Dan will be a keynote speaker on June 8th during the Canadian Mining Expo’s Projects in the Pieline conference in Timmins. He looks forward to delivering a summary of mining and exploration activities during his presentation.
Prior to retaining Dumas, Gowest resolved an outstanding dispute with Cementation Canada. In January 2023 Gowest settled with Cementation Canada Inc. paying $7,436,500 for services provided to Gowest under a contract that was signed in March, 2017. Under the terms of the settlement, Gowest will pay Cementation approximately $5,076,600 by March 31, 2023.
Cementation will also transfer the net receivable Gowest owes to it, approximately $6,860,000, to a third-party purchaser of the debt. Gowest will be obligated to pay the third-party purchaser the amount by March 31, 2026.
Gowest also obtained funding from a non-brokered private placement of $25,000,000 with Greenwater Investment Hong Kong Limited and Lush Land Investment Canada Inc. has agreed to purchase Gowest promissory notes for $10,000,000. The new financing will help Gowest as it enters the bulk sampling advanced exploration phase.
The initial underground work will focus on the development and production of the initial bulk sample area in the East Zone including the development of ventilation infrastructure, as well as the development of a ramp to expand and access new ore zones.
Gowest 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.



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