Gowest Gold Intersects 66.7 G/T (2.14 Oz/T) Gold Over 2.5 Metres from Advanced Exploration Drilling at Bradshaw

Gowest News

Gowest Gold Intersects 66.7 G/T (2.14 Oz/T) Gold Over 2.5 Metres from Advanced Exploration Drilling at Bradshaw

November 29, 2017

Toronto, Ontario, November 29, 2017 – Gowest Gold Ltd. (TSXV: GWA) (the “Company”) is pleased to report the first assay results from the recently completed underground infill drilling program at the Bradshaw Gold Deposit (Bradshaw.) Results have been received from 17 of the 29 holes drilled in this campaign, and assay results from the remaining holes are expected in the coming weeks. (See tables below)

Highlights include:

  • Hole BGM17-045-015 intersected 156 grams per tonne (g/t) (5.02 oz/t) gold (Au) over 1 metre (m)
    • This is the highest gold sample intersected to date at the project
    • Located within 2.5m grading 66.7 g/t (2.14 oz/t) Au
  • Hole BGM17-045-004 intersected 1.75 m grading 11.0 g/t (0.35 oz/t) Au, including 0.5 m grading 26.5 g/t (0.85 oz/t) Au
  • Hole BGM17-045-014 intersected 1.05 m grading 16.4 g/t (0.53 oz/t)Au including 0.5 m grading 32.2 g/t (1.04 oz/t) Au

“We are extremely pleased with the results of this infill drilling campaign,” said Gowest President and CEO, Greg Romain. “We have seen evidence for years indicating that Bradshaw has not yet revealed its full potential. In intersecting the highest ever gold values, we feel we have clearly demonstrated the significant upside of our project and are still further encouraged about the coming results of our bulk sample program.”

The infill underground drill program is being conducted as part of the Company’s plan to gather as much information on the deposit as possible, including tightening the drill spacing in order to increase the technical team’s detailed knowledge of the mineralized structures. Twenty-nine (29) holes have been completed so far for a total of 3,604 metres, reducing the distance between drill holes in the area of the advanced exploration bulk sample to between 12.5 and 20 m. As expected, all holes intersected gold mineralization to contribute to the geological model supporting the bulk sample.

In addition to the infill drilling, one exploration hole is in progress to test an area directly north of the bulk sample where historical drilling indicated potential for a new gold zone.

In order to confirm these exceptional results, the Company completed check assays on the remaining pulp and coarse rejects from the material retrieved from Hole BGM17-045-015. A second assay of the pulp returned 119 g/t gold, while five new samples from the remaining material from sample preparation resulted in values ranging between 99.3 g/t and 183 g/t, with an average value of 136.9 g/t gold.

Advanced Exploration Bulk Sample Program

As previously announced, the Company is currently advancing underground development at Bradshaw in preparation for the extraction of up to a 30,000-tonne bulk sample. The bulk sample is being taken from an area of the deposit closest to the portal opening and targets a cut off of 3 g/t gold. The ore will be sorted (see Gowest news release dated September 27, 2017) at the Bradshaw site to increase the head grade to the mill by removing non-mineralized material. Enhanced ore will be trucked to the Liberty Mill where a saleable concentrate will be produced. It is anticipated that the first ore shipment to the mill will commence next month.

Table 1. Gold intersections

HoleFromToLengthAu (g/t)
BGM17-045-001     65.70     66.00         0.3012.0
and     97.75     98.30         0.553.92
and   106.25   106.80         0.557.61
and   108.60   109.25         0.655.26
BGM17-045-002     81.00     83.00         2.005.02
including     81.00     81.50         0.5018.9
and   115.50   115.80         0.3011.0
and   136.20   136.60         0.404.19
and   154.80   155.25         0.453.70
and   214.50   220.00         5.503.26
and   225.00   226.70         1.704.46
BGM17-045-003     75.50     77.00         1.503.66
including     76.40     77.00         0.607.14
and   127.25   127.55         0.305.17
and   220.40   221.20         0.809.2
BGM17-045-004     84.75     86.50         1.7511.0
including     86.00     86.50         0.5026.5
and   116.80   117.10         0.303.29
and   122.30   122.60         0.303.69
and   173.30   176.50         3.2010.0
including   173.30   174.00         0.7020.1
including   175.50   176.00         0.5019.3
BGM17-045-005     79.80     80.20         0.403.71
and     98.50     98.80         0.307.26
and   116.10   116.40         0.306.76
BGM17-045-006     57.30     58.60         1.306.8
and     90.50     91.75         1.256.6
BGM17-045-007     99.95   101.85         1.905.7
including     99.95   100.35         0.4015.4
BGM17-045-008     46.90     49.40         2.508.1
including     48.00     49.00         1.0013.7
and     64.50     66.50         2.005.5
including     65.50     66.00         0.5013.4
BGM17-045-009     95.10     95.70         0.603.99
and   100.60   101.20         0.6011.2
and   104.10   104.60         0.503.34
BGM17-045-010     62.00     65.00         3.004.2
including     62.70     63.20         0.5015.9
and     91.50     93.80         2.303.9
including     93.15     93.80         0.6510.9
BGM17-045-011     65.20     65.50         0.3030.3
and     97.80     98.10         0.308.13
BGM17-045-012     77.00     77.50         0.503.58
and     96.00     98.50         2.507.8
including     97.15     97.50         0.3518.7
including     98.00     98.50         0.5016.2
BGM17-045-013     56.00     60.00         4.004.21
and     64.80     65.20         0.406.36
and     94.00     96.00         2.007.83
including     95.40     96.00         0.6018.5
and   126.00   126.50         0.509.93
BGM17-045-014     59.20     59.80         0.606.95
and     95.10     96.15         1.0516.4
including     95.10     95.60         0.5032.2
and   119.00   120.00         1.004.02
BGM17-045-015     73.00     75.50         2.5066.7
including     73.00     74.00         1.00156.0
and     90.80     91.40         0.606.40
and   107.90   108.40         0.508.99
and   127.25   127.55         0.304.92
BGM17-045-016     69.50     71.00         1.505.08
including     69.95     70.35         0.4015.6
and   105.00   107.65         2.656.96
including   105.45   106.15         0.7025.0
BGM17-045-0178080.70.78.09
and106.61070.415.6

The above intervals reflect approximate true widths of the mineralization. Reported gold values are uncapped.

Table 2. Hole location and direction

Hole NameEastingNorthingElevationLengthCollar DipCollar Azimuth
BGM17-045-001486,9635,398,76824814111163.1
BGM17-045-002486,9605,398,7682482492.4224.8
BGM17-045-003486,9605,398,7682482495.6226.1
BGM17-045-004486,9605,398,768247197-9.4210
BGM17-045-005486,9615,398,768247183-12.9204.2
BGM17-045-006486,9635,398,768247145-10.7150.2
BGM17-045-007486,9615,398,768247152-2.2198.2
BGM17-045-008486,8825,398,76824561-28.9162.3
BGM17-045-009486,9615,398,7682481574.2193.7
BGM17-045-010486,9615,398,76824816010.6186.2
BGM17-045-011486,9605,398,76824810311209.4
BGM17-045-012486,9625,396,767247139-7.3176.6
BGM17-045-013486,9625,398,7682481394.8174.1
BGM17-045-014486,9615,398,7682481429.9173
BGM17-045-015486,9615,398,768247166-12.6194.7
BGM17-045-016486,9625,398,7682481481167
BGM17-045-017486,9625,398,768247134-17.4177

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

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.

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: [email protected]                                        Email: [email protected]