Westhaven Gold mails special meeting materials

Executive Summary

• Westhaven Gold Corp. has announced that materials for a special meeting of shareholders, scheduled for February 17, 2026, are now available.
• The primary agenda item is a shareholder vote to approve an earn-in and joint venture agreement with Dundee Corp.
• Under the agreement, Westhaven will dispose of an up-to-60% interest in its Shovelnose, Prospect Valley, Skoonka, and Skoonka North gold projects to Dundee Corp.

Key Details

• Transaction Structure: Earn-in and joint venture agreement between Westhaven Gold Corp. and Dundee Corp.
• Assets Involved: Up-to-60% interest in the Shovelnose gold project, Prospect Valley gold project, Skoonka gold project, and Skoonka North project.
• Meeting Date: February 17, 2026, at 10 a.m. Vancouver time.
• Meeting Location: 1133 Melville St., Suite 3500, The Stack, Vancouver, B.C., V6E 4E5.
• Record Date: December 30, 2025.
• Proxy Voting Deadline: 10 a.m. Vancouver time on February 12, 2026.
• Board Recommendation: The board of directors unanimously recommends that shareholders vote for the transaction resolution.
• Project Context (Shovelnose): The Shovelnose project is the most advanced property, featuring a 2025 preliminary economic assessment (PEA) validating it as a low-cost, high-margin 11-year underground mining opportunity.
  • Production: Average annual life-of-mine production of 56,000 ounces of gold and 313,000 ounces of silver.
  • Valuation: $454-million (Canadian) after-tax net present value (at a 6% discount rate) and a 43.2% internal rate of return (IRR).
  • Base Case Parameters: $2,400 (U.S.) per ounce gold, $28 (U.S.) per ounce silver, and a CAD/USD exchange rate of 0.72.

Notable Quotes

• "The board of directors of Westhaven unanimously recommends that shareholders vote for the transaction resolution."