Gowest Gold Ltd.
TSX VENTURE : GWA

Gowest Gold Ltd.

September 27, 2017 07:00 ET

Gowest Gold Intercepts First Ore Zone at Bradshaw

Further Update on the Bradshaw Development

TORONTO, ONTARIO--(Marketwired - Sept. 27, 2017) - Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA) is pleased to provide a further update on its progress on the Company's Advanced Exploration - Bulk Sample program at its wholly-owned Bradshaw Gold Deposit ("Bradshaw").

Highlights:

  • Development team has intercepted the first ore zone at the 45 metre level;
  • Total development reached 580 metres on September 15;
  • Water treatment plant is on site; being commissioned this week;
  • Ore sorter arrived on site on September 13; being assembled and prepared for operation;
  • Maintenance shop area is expected to be completed by mid-October; and,
  • On track to meet Company milestones, including planned first ore shipment to the mill in Q4 2017.

Greg Romain, Gowest's President, said, "Reaching the first ore zone at Bradshaw is another very exciting milestone, and is something that all of us have been looking forward to. We are pleased to report that much of the major infrastructure work on surface is also progressing well. Our team continues to make excellent progress as we drive to develop Bradshaw as the next new gold mine in the Timmins camp."

UPDATE:

First Ore Zone

Gowest's underground team intercepted the first ore zone in the northern halo of the deposit at the 45 metre level as expected. In reaching this zone - which is made up of a series of gold bearing structures - the technical team now has the invaluable benefit of actually seeing the deposit for the first time. We have now commenced chip sampling of the face to supplement our in-fill drilling.

Mine development

As of September 15, 2017, total development at the Bradshaw mine site had reached 580 metres. Ramp development continues to the 60 metre level as well as incline development to the 30 metre level. Development on the 45 metre level continues to cross cut the ore.

Ore sorter

The X-ray ore sorting unit supplied by Steinert US, which will be used to sharply reduce processing costs by increasing mill feed grade and reducing tons milled, arrived from Europe on September 13. It is currently being assembled and is expected to be ready in time to be used to sort the first crushed run of mine (ROM) ore. The Company expects to send the first ore shipment to the mill in Q4 2017. The gold concentrate produced there will then be shipped to a refinery for final processing and sale.

Water Treatment

The water treatment plant, a modular turnkey plant used to handle and treat all mine and surface water effluents, has been delivered to the Bradshaw site, and is being commissioned.

Maintenance Shop

Work on the site's maintenance shop is also advancing well, and the area is expected to be operational by mid-October.

New Mine Manager

The Company would also like to announce that Greg Hart as joined the team as Mine Manager effective September 11. Greg brings over 38 years of direct experience in leading mining and construction activities. Greg was most recently Underground Manager for Goldcorp's Porcupine Gold Mine in Timmins.

The Company will continue to update investors on its progress when information becomes available.

Please visit our website (www.gowestgold.com) for recent photographs of the ongoing development at Bradshaw and to review our latest corporate presentation.

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.

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 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 Mr. Jeremy Niemi, P.Geo., Gowest's Director of Exploration, 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.

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