The First 60 Years

Kidd Creek base metal discovery in 1964 sparks an exploration rush focussed exclusively on locating base metals deposits

Gowest Amalgamated acquires interest in the area

Drilling intersects gold mineralization on the Frankfield zone at a vertical depth of 600 metres establishing depth potential

Progress hindered by lack of ownership on adjacent claims and 50/50 JV arrangement on Frankfield

All available data compiled for entire regional area

Environmental baseline and metallurgical studies commence

Deep drilling demonstrates the continuity of the gold horizon to a minimum vertical depth of 900m

Updated 43-101 compliant resource estimate completed demonstrating 1.2 MM oz

Gowest increases overall land holdings along Pipestone fault to approximately 60 square kilometers

First Nations Memorandum of Understanding agreement executed

Gowest land position increases to 93 sq km

Positive full-scale ore sorting optimization test

Advancing plans to use a third-party processing facility to custom treat Frankfield East ore within 30 months

Gowest increases land position to 107 square km

The Frankfield East Gold deposit is renamed the Bradshaw Gold Deposit (“Bradshaw”) after Ronald J. Bradshaw who, as founder of Gowest (formerly Gowest Amalgamated Resources Ltd.), was instrumental in the discovery of this now-advanced gold asset

The Texmont Gold Zone is renamed the Sheridan Gold Zone after J. Patrick Sheridan, a long-time prospector and Gowest investor and the owner of New Texmont, a company that initially discovered the zone in the late 1980’s

Memorandum of Understanding (MOU) signed with United Commodities AG (UC), which contemplates a potential strategic partnership that would enable Gowest to have future gold concentrate from Bradshaw refined at UC’s processing facility in North Cobalt, Ontario

Following shareholder approval and sanctioned by the TSX Venture Exchange, Gowest raised gross proceeds of $3,400,000 through the sale of Units to Fortune Future Holdings Limited. In connection with this investment, Mr. Yungang Wu, a nominee of Fortune, was appointed to the board of directors of the Corporation

The Company’s Closure Plan for Advanced Exploration – Bradshaw Deposit (the “Plan”) permit application was formally accepted for public consultation by the Ontario Ministry of Northern Development and Mines

Gowest received notice from the Ontario Ministry of Northern Development and Mines (“MNDM”) that the Company’s Closure Plan for Advanced Exploration – Bradshaw Deposit (the “Closure Plan”) had been filed

Gowest purchased the 1.5% net smelter return royalty (the “Royalty”) held by the Sheridan group. on the Company’s Frankfield Property, which includes the Bradshaw Gold Deposit and the Sheridan Zone for an aggregate consideration of 10,000,000 common shares of Gowest (each share having a deemed value of CDN$0.10)

Gowest provided an update on its development plans for the Company’s North Timmins Gold Project (“NTGP”), including plans to make the Bradshaw Gold Deposit the next new gold mine in the Timmins gold camp:

• Advanced Exploration (“AE”) permitting process is in the final stages of review, but has been delayed by Ontario government processing
• Revised target to commence site preparation work and mine development at Bradshaw: Q3 2016 and AE bulk sample collection to begin latter part of Q4 2016
• Previous Bradshaw area drill results proximal but not included in the resource estimation, due to insufficient drilling, provide opportunity with further drilling to expand resources – drilling plans are being prepared
• Ongoing technical review indicates excellent potential to expand the global NTGP gold resource beyond Bradshaw deposit area
• Planning new geophysical surveys followed up by drill programs at Sheridan and Roussain gold zones

Gowest’s Induced Polarization (“IP”) program has helped to reveal a distinct signature for the mineralization within its Bradshaw Gold Deposit, providing knowledge to help identify the best new exploration targets in the immediate surrounding area, as well as along untested portions of Gowest’s 20-kilometre segment of the prolific Pipestone Fault structure, which hosts Bradshaw and several other mineral deposits

The Company entered into an negotiation agreement with Northern Sun Mining Corp. (“Northern”) for the use of the Redstone Mill (the “Mill”) located in Timmins, Ontario to process material from the Company’s Bradshaw Gold Deposit (“Bradshaw”)

Gowest entered into a definitive Pre-Paid Forward Gold Purchase Agreement with PGB Timmins Holdings LP, a limited partnership organized under the laws of the Province of Ontario, to finance the development of its Bradshaw Gold Deposit. PGB agreed to advance to the Company up to an aggregate of US$17,600,000 (the “Gold Prepayment Amount”), in four tranches over a period of approximately 12 months, as partial consideration for the purchase of up to an aggregate of 65,805 ounces of gold to be produced from Bradshaw and delivered to PGB. The full funding of the Gold Prepayment Amount is subject to the satisfaction of certain conditions precedent applicable in respect of each tranche, as specified in the Agreement

Gowest entered into a non-binding letter of intent with Northern Sun Mining Corp., a corporation existing under the laws of the Province of Ontario, with respect to the creation of a joint-venture corporation (“JVco”) that will own and operate the Redstone Mill. Upon completion of the proposed Transaction, each of the parties will hold a 50% interest in JVco. The Redstone Mill, located near Timmins, Ontario, which has the capacity to process approximately 1,500 tonnes of ore-per-day, is well-situated to satisfy Gowest’s anticipated future ore processing requirements

Gowest entered into a definitive Custom Milling Agreement with QMX Gold Corporation (“QMX”) pursuant to which QMX will process material from Bradshaw at its Aurbel Mill located in Val d’Or, Quebec

Northern Sun had received conditional approval for the processing of the ore through the Redstone Mill from both the Ministry of Environment and Climate Change and the Ministry of Northern Development and Mines, subject to satisfying certain provincial government guidelines, the timing of which could not be determined. Meanwhile, Northern Sun and the Company mutually determined to terminate the previously announced share purchase agreement entered into between the parties, pursuant to which the Company was to acquire a 50% interest in the Redstone Mill and form a joint venture with Northern Sun for its operation. This termination allows for both Northern Sun and Gowest to re-evaluate their strategic plans

Gowest consolidated the outstanding common shares of the Corporation on a one (1) for ten (10) basis, effective June 17, 2019, following approval at the Corporation’s annual and special meeting of shareholders held on June 10, 2019. Following completion of the Consolidation, the number of issued and outstanding Common Shares was reduced from 428,571,242 to approximately 42,857,124

Gowest reported that assay results from a multi-purpose drill program at Bradshaw designed to provide infill detail on stopes to be mined in the bulk sample area confirmed newly-identified high-grade gold zones to the north of the main deposit

Gowest completed an initial closing of a second Private Placement, raising gross proceeds of $2,043,049

Gowest completed a second closing of the latest Private for gross proceeds of $1,000,000

The Company entered into a bridge loan agreement with Lush Land Investment Canada Inc. for a loan facility of up to C$1.6 million, funds that were received shortly thereafter. The purpose of the agreement was to enable Gowest to continue to move ahead with its bulk sample program at Bradshaw while the Company continued to work towards a significantly larger financing

The Company started the construction of the main vent raise and secondary egress at the mine site, which is required for the Company to transition into production without delay once the bulk sample is completed

Gowest entered into a loan agreement with Lush Land Investment Canada Inc. in respect of a bridge loan in the principal amount of $1,000,000. The proceeds of the loan were to be used for general corporate purposes. Meirong Yuan, a director of Gowest, is also a director of Lush Land

Ms. Janet O’Donnell, the Chief Financial Officer of the Corporation, gave notice that she would be resigning from the Corporation effective August 28, 2021, although she remained available to assist with an orderly transition. Ms. O’Donnell has served as Chief Financial Officer for 13 years and played a key role in the growth and development of the Company

The Company was saddened to announce the recent passing of Gregory ‘Greg’ Hart, the Company’s previous Mine Manger, who died in Timmins, Ontario on August 29th in his 61st year. Mr. Hart joined the Gowest team as Mine Manager in September 2017, bringing his over 38 years of direct experience in leading mining and construction activities to fortify the foundation for the development of the Bradshaw gold project. Prior to that, he had been Underground Manager and Manager of Operations for Goldcorp’s Porcupine Gold Mine in Timmins, as well as VP, Operations with Dumas Contracting

Gowest completed its previously reported conversion of an aggregate of $18,024,088 of debt owed to four separate creditors into equity of Gowest. The Debt, which was incurred by the Company to support operations since 2017, was converted into common shares of Gowest at a conversion price of $0.25 per share, resulting in the issuance of an aggregate of 72,096,350 common shares of Gowest

The Company has issued 1,503,644 shares to settle an aggregate of $240,583 of indebtedness at a deemed price of $0.16 per share, to non-management directors of the Company, in satisfaction of director fees owing and outstanding to such individuals as of October 31, 2021. This issuance of common shares was made in order to preserve cash and improve the Company’s balance sheet.

The Company announced the resignations of Mr. Yungang Wu, P.Geo., and, subsequently, Mr. Gilbert Lawson, P. Eng., as directors of the Board of the Corporation.

The Company announced that investors agreed to purchase from Gowest, on a non-brokered private placement basis, securities of the Corporation for aggregate gross proceeds of $25,000,000. Greenwater Investment Hong Kong Limited and other investors have agreed to purchase an aggregate of 150,000,000 units of the Corporation (“Units”), at an issue price of $0.10 per Unit, for an aggregate purchase price of $15,000,000. Also, Lush Land Investment Canada Inc. agreed to purchase promissory notes of the Corporation at a conversion price of $0.10 per Unit in an aggregate principal amount of $10,000,000).

The Company announced that it has completed its previously announced settlement with Cementation Canada Inc. with respect to Cementation’s claim against the Company issued under the Construction Lien Act (Ontario), seeking payment of approximately $7,436,500 for certain services and materials provided to the Company under a contract between the parties dated as of March 2, 2017. In connection with the Settlement, Gowest paid Cementation approximately $576,500 in cash ($500,000 of which had been previously advanced to Cementation); and Cementation assigned and transferred the net receivable amount owned to it by Gowest, being approximately $6,860,000, to a third-party purchaser of the debt. Gowest received a full and final release from Cementation in respect of its claims against the Company and the lien registered on title to the Company’s Bradshaw Gold Deposit was discharged.

The Company completed a closing of its previously announced non-brokered private placement of 6,221,428 flow-through units at a price of $0.14 per FT Unit, for aggregate gross proceeds of $871,000. Each FT Unit comprised one common share and one common share purchase warrant issued on a flow-through basis, with each Warrant being exercisable to acquire one additional common share of the Corporation at a price of $0.20 for a period of 24 months following the closing date of the Offering. The common shares underlying the Warrants were issued as flow-through shares. The funds from the Offering are to be used to expand the mineable resource at the Bradshaw Gold Deposit, as well as to further test other parts of the Corporation’s North Timmins Gold Project (“NTGP”) area where notable gold has previously been intercepted.

The Company reported on it continuing progress in restarting the Corporation’s 100% owned Bradshaw Gold Deposit. This included development of the East Zone Capital Development Ramp, the Access Ramp and Sill Development. To date, 9,974 tonnes of development were ore stockpiled on surface. The first long-hole stope blast conducted in July while the underground ventilation upgrade was also progressing well. Ore sorter commissioning was completed and sorting of development ore began in late July. Surface diamond drilling commenced in June, a 5,000 m program aimed at expanding resources. No reportable injuries from underground team continued since initiating the restart, while all production and key infrastructure projects remained on target.

The Company closed the final tranche of its previously announced upsized non-brokered private placement of flow-through units of the Corporation. Pursuant to the final tranche closing of the Offering, the Corporation issued and sold an additional 1,428,570 FT Units at a price of $0.105 per FT Unit for aggregate gross proceeds of $150,000. These funds are in addition to the $800,000 closed on previously by the Corporation, bringing the total gross proceeds of the Offering to $950,000.

The Company provide an update on its Phase 2 Exploration surface diamond drilling program, initiated in November 2023, part of a larger planned program aimed at expanding the mineable resource at its Bradshaw Gold Mine, as well as to further test other parts of the Corporation’s North Timmins Gold Project. Phase 2 consists of a total of 16,500 m of planned drilling aimed at testing and expanding the known gold mineralization within the Bradshaw Gold deposit, as well as in other parts of the NTGP area with notable historical gold intercepts in prospective gold mineralization zones, particularly in the Roussain and Sheridan zones. Gowest contracted Orbit Garant Drilling Services to complete its Phase 2 exploration drilling program. A total of 12,769 meters (m) of drilling has been completed as of April 30th, including 32 completed holes and two holes in progress on the Sheridan gold zone and west of Bradshaw. The highest intercept: 13.6 grams per tonne (g/t) gold (Au) over 1.1 m from hole GW23-352, including *20.06 g/t Au over 0.6 m from the Bradshaw HW8 zone. Other significant gold mineralization: 5.27 g/t Au over 2.6 m (including 22.3 g/t Au over 0.6 m) in Hole GW23-346 on the HW7 zone, and 23.2 g/t Au over 1.5 m in hole GW24-351A on newly discovered HW10 zone.

On June 21, 2024, Gowest entered into a definitive arrangement agreement with a group of existing shareholders of Gowest, pursuant to which the Acquiring Group would acquire all of the outstanding common shares of Gowest not already owned by the Acquiring Group, for cash consideration of $0.15 per common share. The Acquiring Group, which collectively held approximately 91.5% of the outstanding common shares of Gowest, is comprised of Lush Land Investment Canada Inc., Greenwater Investment Hong Kong Limited, 1000216244 Ontario Inc., Debao Wang, Yun Zhao, Fortune Future Holdings Limited, Meirong Yuan, C. Fraser Elliott and CFE Financial Inc. (a corporation controlled by Mr. Elliott). The Share Consideration represented a 114% premium to the $0.07 closing price of the common shares of Gowest on the TSX Venture Exchange on June 21, 2024, the last closing price prior to the entering into of the Arrangement Agreement, and a 131% premium to the volume-weighted average trading price of $0.0649 of the common shares of Gowest on the TSX-V for the 20 trading days ended June 21, 2024.

The “Care & Maintenance” phase of the Bradshaw Mine, which began in November 2023, was lifted as mining operations, led by Dumas, resumed in October/