Vancouver, British Columbia – October 17, 2025 – In a significant development for Westhaven Gold Corp. (TSX-V: WHN), the company has announced the departure of Sean Thompson, the Vice President of Corporate Development and Investor Relations. This transition marks the end of a notable six-and-a-half-year tenure during which Thompson contributed significantly to the company’s growth and strategic direction.
Acknowledging Contributions
Gareth Thomas, a Director at Westhaven, expressed gratitude on behalf of the Board of Directors. He stated, “On behalf of the Board of Directors of Westhaven, I’d like to thank Sean for his important contributions to the Company over the last six and a half years. We wish Sean all the best in his future endeavors.” This statement underscores the value Thompson brought to the organization, particularly in fostering investor relations and corporate development.
Financial Clarifications
In addition to the leadership change, Westhaven Gold Corp. has provided clarifications regarding its recent financial activities. Following the completion of a private placement financing on July 3, 2025, the company announced that Red Cloud Securities returned 250,000 broker warrants for cancellation. Consequently, no broker warrants were issued in connection with this financing, although all other terms of the offering remain unchanged. This clarification is crucial for investors and stakeholders, ensuring transparency in the company’s financial dealings.
About Westhaven Gold Corp.
Westhaven Gold Corp. is a gold-focused exploration and development company operating within the Spences Bridge Gold Belt in southern British Columbia. The company controls approximately 61,512 hectares (about 615 square kilometers) across four gold properties in this underexplored region. The Shovelnose Gold project stands out as the most advanced property, boasting a recently updated Preliminary Economic Assessment (PEA) that highlights its potential as a robust, low-cost, and high-margin underground gold mining opportunity.
Shovelnose Gold Project Highlights
The Shovelnose project is projected to yield an average annual life-of-mine gold production of 56,000 ounces, with an after-tax Net Present Value (NPV) of Cdn$454 million and an Internal Rate of Return (IRR) of 43.2%, based on base case parameters of US$2,400 per ounce gold and US$28 per ounce silver. Initial capital costs are estimated at Cdn$184 million, with a payback period of just 2.1 years. The project’s strategic location near major infrastructure, including highways, power sources, and rail, further enhances its development potential.
Commitment to Transparency
Ken Armstrong, President and CEO of Westhaven, is responsible for this news release and can be reached for further inquiries. The company emphasizes its commitment to transparency and regulatory compliance, noting that neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Looking Ahead
As Westhaven Gold Corp. navigates this leadership transition and clarifies its financial standing, the company remains focused on its exploration and development goals. The mining sector is inherently risky, and Westhaven acknowledges the challenges ahead, including market volatility and regulatory hurdles. However, with a strong foundation and a clear strategic vision, the company is poised for future growth.
Conclusion
The departure of Sean Thompson marks a new chapter for Westhaven Gold Corp., one that will require strong leadership and strategic foresight. As the company continues to explore its promising gold properties, stakeholders will be keenly watching how these changes impact its trajectory in the competitive mining landscape. For those interested in the latest updates, Westhaven encourages signing up for newsletters to stay informed about future developments.
For more information, visit Westhaven’s website at www.westhavengold.com or contact them directly at 604-681-5558.
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