Gowest Gold Ltd.
TSX VENTURE : GWA

Gowest Gold Ltd.

November 07, 2014 09:26 ET

Gowest Announces Appointment of New Director

TORONTO, ONTARIO--(Marketwired - Nov. 7, 2014) - Gowest Gold Ltd. (the "Corporation" or "Gowest") (TSX VENTURE:GWA) is pleased to announce that Meirong Yuan has been appointed to the Board of Directors of the Corporation. Mr. Yuan is a nominee of Fortune Future Holdings Limited ("Fortune") and was appointed in connection with Fortune's recent investment in the Corporation in the aggregate amount of $3,400,000. (See Gowest news release dated September 30, 2014.)

Mr. Yuan has over 22 years of experience in corporate finance and currently serves as vice-president of Fortune. He holds a Bachelor Degree in Economics from Lanzhou Business School and a Masters Degree in Business Management from Beijing Business School.

To accommodate Mr. Yuan's appointment, Jeremy Niemi resigned as a director of the Corporation. Mr. Niemi will continue to act as a technical advisor to Gowest.

"We are pleased to welcome Mr. Yuan as Fortune's nominee to the Board and look forward to working with him," said Greg Romain, Gowest's Chief Executive Officer. "We would also like to thank Jeremy for his valued contribution during his time on the Board and look forward to having him continue to work in support of our technical team."

Upon his appointment as a director of the Corporation, Mr. Yuan was granted options exercisable to purchase up to 400,000 common shares of the Corporation, at an exercise price of $0.085 per share, until November 7, 2019.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

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 109-square-kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. The latest updated resource estimate for Bradshaw included approximately 945,600 ounces of gold ("Au") in the Indicated category (6.0 million tonnes at a grade of 4.9 grams per tonne ["g/t"] Au) and 536,800 ounces of gold in the Inferred category (3.7 million tonnes at a grade of 4.2 g/t Au). As was used in the Corporation's Preliminary Economic Assessment, the current estimate is based on a 3.0 g/t Au cut-off and a gold price of US$1,200/oz. This resource estimate has been completed by Neil N. Gow, P. Geo., an independent Qualified Person, and reported in accordance with the requirement of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and CIM Standards on Mineral Resources and Reserves.

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