Westhaven Ventures Inc.
TSX VENTURE : WHN

July 27, 2016 09:00 ET

Westhaven Intersects High Grade Gold Mineralization at its Shovelnose Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 27, 2016) - Westhaven Ventures Inc. (TSX VENTURE:WHN) is pleased to report drill results from its 19,012 hectare 100% owned Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia. The drill program consisted of 1,177 metres over 5 holes.

Highlights from the drill program include:

  • SN16-02 intersected 0.27 g/t Au over 119.6 metres starting at bedrock including;
    • 16.7 g/t Au and 29.9 g/t Ag over 0.5 metre and;
    • 4.95 g/t Au and 43.7 g/t Ag over 0.6 metre.
  • SN16-01 intersected 0.30 g/t Au over 33.0 metres including 0.45 g/t Au over 10.6 metres.
  • The drill program expanded both the Tower and Alpine zones and both remain open in all directions.

Gren Thomas, Westhaven's President & CEO, states, "SN16-02 is one of three holes drilled into the newly discovered Alpine zone. It is management's belief that this drill intersection represents a potentially larger, higher grade mineralized system at depth. It is significant as it is the longest interval of gold mineralization drilled at Shovelnose to date and it demonstrates the existence of high-grade gold; 0.5m of 16.7 g/t gold. The extent of known gold mineralization at the Shovelnose is in excess of 3 square kilometres, is open in all directions and is indicative of a large mineralized gold system. Further drilling is required to clarify the potential continuity of the Alpine zone. Planning has begun for a follow-up drill campaign to focus on this exciting new area."

Tower Zone

Hole SN16-01 tested the orientation of an interpreted near surface feeder zone in the Tower Zone. Drilling intersected strong silicification and quartz veining in rhyolitic tuffs from bedrock surface to 88 metres depth. Gold grades averaged 0.30 g/t Au over 33.0 metres including 0.45 g/t Au over 10.6 metres. Hole SN16-05, collared in the Mik Zone, targeted the interpreted down dip extension of the Tower Zone structural feeder system at depth. Drilling intersected near surface silicification and gold mineralization in fault gouge associated with the Mik Zone grading 0.4 g/t Au over 6 metres. At the target depth of 350 metres, drilling intersected a 33 metre zone containing white quartz veining and quartz stockwork in silicified mafic volcanics. Although only anomalous gold was present, reported silver values of 15.6 g/t Ag occur over an 11 metre interval. These holes were drilled to follow-up SN12-04 which returned 0.54 g/t Au over 50.4 metres.

Alpine Zone

Hole SN16-02, situated 120 metres south of last year's drill hole SN15-01, tested a coincident IP resistivity and chargeability high and a magnetic low geophysical target in the recently discovered Alpine showing. Drilling intersected quartz veining and silicification in rhyolitic tuffs from bedrock surface to 142 metres depth grading 0.27 g/t Au over 119.6 metres including; 0.5 metres of 16.7 g/t Au and 29.9 g/t Ag; and 0.6 m of 4.95 g/t Au and 43.7 g/t Ag. Hole SN16-03, situated 200 metres north of drill hole SN15-01, tested the northern extension of the high chargeability and resistivity, low magnetic geophysical target in the Alpine showing. Drilling intersected silicified rhyolite flows containing dark pyritic quartz veining and lower grade gold values.

Thomas adds, "Westhaven has worked on the Shovelnose project for 5 years with very limited annual budgets, yet has found widespread low-grade epithermal gold in numerous drill holes. We have found bonanza grade gold on surface but this new discovery on the Alpine zone validates that higher grade epithermal veins exist beneath the surface. We are very encouraged with these latest results and look forward to following them up."

Please refer to the Shovelnose Project page on our website for further information and drill hole locations: http://westhavenventures.com/projects/shovelnose_gold_property/

Shovelnose Gold Property Overview

Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia. Shovelnose is a district-scale gold project covering 19,012 hectares in close proximity to transportation and infrastructure allowing for cost-effective exploration. There is evidence of a significant mineralized alteration system within the property where float samples grading 119 g/t Au (Gold) and 273 g/t Ag (Silver), veins in trenching grading 66 g/t Au and wide low grade alteration zones typical of epithermal gold deposits have been discovered.

On behalf of the Board of Directors

WESTHAVEN VENTURES INC.

Gareth Thomas, Director

About Westhaven Ventures Inc.

Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose gold, Prospect Valley gold, Ben South nickel projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.

Qualified Person Statement

L. John Peters, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release. All reported gold grades were determined using Actlab's fire assay technique.

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.

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