Gowest News

TSX VENTURE SYMBOL: GWA

Gowest Gold Provides Operations Update

February 23, 2021

Positive Processing Results Support Mine Development Plan

TORONTO, ONTARIO – (February 23, 2021) Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) is pleased to provide an update on the processing of the first gold ore from the Company’s 100% owned Bradshaw Gold Deposit (“Bradshaw”).

In late January 2021, Gowest successfully completed  processing 23,000 tonnes of the gold-bearing mixed development, unclassified material (see Gowest release dated Dec. 9, 2020)  stockpiled during the commencement of its bulk sample program at Bradshaw.  The Company had planned to first process this unclassified gold-bearing material in order to gather valuable evidence of how it responds to ore-sorting, grinding, flotation, dewatering and concentrate smelting.  This trial has also demonstrated that the mill site water quality  and tailings impoundment were in regulatory compliance confirming that they are operating properly in protecting the surrounding environment.

Greg Romain, Gowest President, commented, “We are very pleased with the positive results we’ve received from these detailed technical trials at the mill, and look forward to receiving  final results after the concentrate has been processed at Shandong Humon Smelting Co., Ltd. (“Humon”). Thus far, the results have demonstrated the viability of our processing plans, and confirmed that we are keeping our promise to operate safely and protect the environment. This is another major step towards advancing the Bradshaw gold deposit as the newest gold mine in the Timmins camp.”

Technical Review:

In January 2021, a total of 5,000 tonnes of this stockpiled material was passed through the Company’s onsite x-ray ore-sorting plant. The initial tests were conducted to commission and optimize the sorter plant operations, including adjusting the sorter’s operating parameters with the aim of maximizing metal recovery and material throughput.  During that trial, the sorter successfully separated waste rock from the mineralised material as expected from previous test work, raising  the gold grade prior to milling. Potential improvements have been identified that are expected to further enhance the efficiency of the sorting process.

The Company trucked approximately 23,000 tonnes of gold bearing mixed development material, including sorted rock,  to Northern Sun’s Redstone Mill during December and January for processing. The success of this process confirmed that Bradshaw would be able to provide a sustained delivery to the mill, using a local trucking company, hauling  the expected average of 800-850 tonnes per day (tpd) of material.

The delivered mixed development material was processed at an average rate of 600 – 900 tpd, during a 6-week operating period. Approximately 1,040 tonnes of concentrate were produced for shipping to the Humon smelter. Gold recovery from the mill demonstrated steady improvement as the processing advanced.

Importantly, during the next process phase, the feed grade will be improved with the addition of new material from underground long-hole stope mining. This latest trial has identified a number of additional changes to the process plant flow sheet and flotation circuit which, coupled with higher grade feed, will still further enhance metal recovery.

The technical results of this two-part test program will be released following the completion of the full trial.

Next Steps

With the completion of the initial mixed development, unclassified, feed trial, the Company has significantly derisked the processing and tailing management segments of the project. Following completion of concentrate treatment at the smelter and upon receipt of the necessary funding, Gowest is preparing to advance to an underground test stoping  and mill processing trial phase.  This second phase of the trial will be conducted to verify the mine block model  and optimize the sorter to further increase both gold recovery and the sorting rate. That testing will also aid in optimizing the flotation circuit to increase gold recovery and identify additional cost saving measures at the Redstone Mill.

Added Greg Romain, “As we continue positive discussions regarding the financing to complete the higher grade mill processing trial and bring Bradshaw to commercial production, we want to thank all of our stakeholders for their ongoing support, and encourage them to recognize our commitment to doing everything that we can to reach our goal of achieving commercial production.”

About Gowest

Gowest is a Canadian gold exploration and development company focused on the development of its 100% owned and fully permitted Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP).  Gowest is exploring additional gold targets on its more than 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 Persons

The technical information in this news release has been reviewed and approved by Yungang Wu, P.Geo., Gowest’s Senior Geologist, and Garth Wilcox, P. Eng., Development Manager, who are the Qualified Persons 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.

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.

For further information please contact:

Greg Romain                                        Greg Taylor

President & CEO                                  Investor Relations

Tel: (416) 363-1210                               Tel: 416 605-5120

Email: info@gowestgold.com                Email: gregt@gowestgold.com