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TSX-V: WHN | EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT Corporate Presentation November 2020

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Page 1: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT

Corporate PresentationNovember 2020

Page 2: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

CAUTIONARY AND FORWARD LOOKING STATEMENTS

Certain statements contained in this presentation that are not historical facts are forward-looking statements as

that term is defined in the United States Private Securities Litigation Reform Act of 1995. In addition, certain

statements in this presentation may be considered forward-looking information under applicable Canadian

securities laws. Forward-looking statements and forward-looking Information address future events and conditions

and therefore involve known and unknown risks and uncertainties. Forward-looking statements are frequently

characterized by words such as "plans", "expects", “estimates”, "projects", "intends", "believes", "anticipates" and

other similar words, or statements that certain events "may" or "will" occur. They can also be identified by the fact

that they do not relate strictly to historical or current facts. Forward-looking statements are based on the opinions

and estimates of management at the date the statements are made, and are subject to a variety of risks and

uncertainties and other factors that could cause actual events or results to differ materially from those projected in

the forward-looking statements. These factors include, but are not limited to, the inherent risks involved in the

exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other

exploration data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and

expenses, uncertainties relating to the availability and costs of financing needed in the future and other specific

factors that may be identified in the course of this presentation. No forward-looking statement can be guaranteed

and actual results may differ materially from those currently anticipated in such statements. The Company

undertakes no obligation to update forward-looking statements except as required by applicable law. The reader is

cautioned not to place undue reliance on forward-looking statements.

2

Page 3: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

WORLD-CLASS HIGH-GRADE GOLD DISCOVERY

3

High-Grade Gold Discovery

17.70 metres of 24.50 g/t Gold

RIGHT ASSET

Classic low-sulphidation

epithermal system similar to

Hishikari, Kupol, and Fruta del

Norte

PROVEN MODEL

Large land package with

numerous high-potential

targets

SET FOR GROWTH

Off a Major Highway in Canada

Infrastructure: roads, power,

people, operating mines.

RIGHT LOCATION

Initial discovery area “South

Zone” and new discovery

“Franz Zone” extends strike to

approximately 4 km.

EARLY SUCCESS

40,000 metres + of drilling

planned for 2020 with funding

in place

MOVING FORWARD

Page 4: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

A TRACK RECORD OF EXPLORATION AND DEVELOPMENT SUCCESS

4

Gareth ThomasPresident and CEO, Director

Shaun PollardCFO, Director

Peter FischlExploration Manager

Sean ThompsonVP Corporate Development and

Investor Relations

Grenville ThomasChairman

Victor TanakaDirector

Hannah McDonaldDirector

Ed BalonTechnical Advisor

M a n a g e m e n t B o a r d a n d A d v i s o r s

Page 5: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

SHAREHOLDER ALIGNMENT

5

102,472,409Shares Outstanding:

30%

43%

10%

17%

30%INSIDER

HELD

Directors & Officers

Retail Investors

Friends & Family

Institutions & Funds

115,337,666Fully Diluted:

~$92MMarket Capitalization

$1.8MCash

185,000Daily Average Volume

Page 6: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

OUR UNIQUE ADVANTAGE: LOCATION

6

BRITISH COLUMBIA

Vancouver

Page 7: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

LOW-COST EXPLORATION

7

30-minute drive from Merritt

2.5-hour drive from Vancouver

5km from the Coquihalla Highway

Powerline on property

Heavily logged, with forestry roads in place

Year-around exploration

Westhaven Peers(1)

All-in drilling costs

$190/m

All-in drilling costs

(mean)

$454/m

Shovelnose Property Boundary

1. Consolidated by Sprott Capital Partners from Company Filings and S&P Market Intelligence for 2018 company exploration costs and drilling programs.

South Zone Veins

Franz Zone

Page 8: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

ASSAY HIGHLIGHTS 2018, 2019 & 2020

8

• SN18-12: 1.65m of 175.00 g/t Au and 249.00 g/t Ag

• SN18-14: 17.70m of 24.50 g/t Au and 107.92 g/t Ag

• SN18-15: 46.90m of 8.95 g/t Au and 65.47 g/t Ag

• SN19-01: 12.66m of 39.31 g/t Au and 133.11 g/t Ag

• SN19-10: 18.50m of 11.39 g/t Au and 40.21 g/t Ag (Vein Zone 2)

• SN19-11: 1.00m of 557.00 g/t Au and 381.00 g/t Ag

• SN19-15: 7.11m of 9.42 g/t Au and 69.36 g/t Ag (Vein Zone 3)

• SN20-101: New Discovery (Franz Zone) 7.78m of 14.84 g/t Au and 39.40 g/t Ag. At surface.

• SN20-108: 34.08 metres (m) of 2.07 g/t gold (Au) and 16.50 g/t silver (Ag).

• Including: 13.10m of 4.86 g/t Au and 31.57 g/t Ag.

• Including: 2.54m of 16.88 g/t Au and 99.28 g/t Ag.

Page 9: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

2020 NEW DISCOVERIES – FRANZ ZONE – HIGH GRADE GOLD

9

51.10 g/t Gold and 165.00 g/t Silver

34.90 g/t Gold and

120.00 g/t Silver

Franz Zone

Zone 1

Zone 2

Zone 3

Page 10: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

2020 NEW DISCOVERIES – FRANZ ZONE – HIGH GRADE GOLD

10

7.78 metres of 14.84 g/t Gold

34.08 metres of 2.07 g/t Gold:

Including 2.54m of 16.88 g/t Gold and

13.01m of 4.86 g/t Gold

Page 11: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

FRANZ ZONE – HIGH GRADE GOLD AT SURFACE

11

FRANZ ZONE: PLAN MAP OF DRILLING

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TSX-V: WHN |

TARGETING THE NEXT SOUTH ZONE

12

Rhyolitic

Hosts

CSAMT: Based on results

received to date; Potential

analogues for the South

Zone have been identified

Entire 5km long portion of

line 5524000mN. This is

preliminary in-progress

inversion

Page 13: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

SKOONKA DRILL PROGRAM 2020

13

2,783 ha – 12 km northeast of Lytton, BC - Hosts low-sulphidation epithermal style gold

mineralization

Drill highlights include:

▶︎ 12.80m of 20.20 g/t Au 3.31m of 26.80 g/t Au 4.10m of 7.48 g/t Au

Page 14: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

LOW-SULPHIDATION EPITHERMAL – A PROVEN MODEL

14

1. John, D.A., Vikre, P.G., du Bray, E.A., Blakely, R.J., Fey, D., Rockwell, B.W., Mauk, J.L., Anderson, E.D, and Graybeal, F.T., 2010. Models for Epithermal Gold-Silver Deposits; Chapter Q of Mineral Deposits for Resource

Assessment. Scientific Investigations Report 2010-5070-Q. U.S. Department of the Interior, U.S. Geological Survey.

2. Sumitomo Metal Mining Co. Ltd. Website, production as of end of March 2019.

3. Based on Yamana acquisition of Meridian in 2007 for US$3.5B (Source: National Bank Financial)

4. Based on Kinross acquisition of Bema in 2006 for US$3.1B (Source: National Bank Financial)

Fruta del Norte

Recent Market Capitalization

C$2.9 Bn

Kupol

Acquisition Cost4

US$3.1 Bn

Hishikari

Life of Mine Production2:

7.7 Moz

El Penon

Acquisition Cost3

C$4 Bn

Las Chispas

Recent Market Capitalization

C$1.2 Bn

Lihir

Au Reserves

24 Moz

Waihi

Life of Mine Production

3.0 Moz

Hishikari1Shovelnose

Recent Market Capitalization

C$92M

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TSX-V: WHN |

RIGHT TIMING FOR INVESTMENT

15

RIGHT ASSET

PROVEN MODEL

SET FOR GROWTH

RIGHT LOCATION

EARLY SUCCESS

MOVING FORWARD

Steady news flow and ongoing

40,000 + meter drill program.

$0.92

Page 16: EXPLORING BRITISH COLUMBIA’S NEWEST GOLD BELT€¦ · WORLD-CLASS HIGH-GRADE GOLD DISCOVERY 3 High-Grade Gold Discovery 17.70 metres of 24.50 g/t Gold RIGHT ASSET Classic low-sulphidation

TSX-V: WHN |

www.westhavengold.com

For more information, contact:

Sean Thompson

604-336-6921

[email protected]