Gowest Gold Appoints Dan Gagnon as President & CEO

Demin Huang Appointed CFO

TORONTO, Aug. 26, 2021 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Corporation”) (TSX VENTURE: GWA) is pleased to announce today the appointment of Mr. Dan Gagnon as President and Chief Executive Officer of the Corporation, effective October 4th. He will replace Interim President and CEO, Mr. Yungang Wu, P. Geo., who will remain a member of Gowest’s Board of Directors and Technical Team. Mr. Gagnon, who is from and lives in Timmins, brings over 30 years of experience in geology and general management from a wide range of operations across Canada. His extensive responsibilities have included all aspects of the mining operations of a number of companies, including operations, milling, maintenance, engineering, mine geology, administration, health safety and environment and community relations, ensuring the effective and profitable use of available resources and facilities.

Most recently, he was General Manager and then Vice President Operations with Harte Gold Corp, where he helped to optimize the operation at the Sugar Zone Mine in White River, Ontario. He was also Senior Vice President of Operations for Lakeshore Gold. Dan started his career in geology, ending after 13 years as Chief Geologist at Musselwhite Mine in Ontario. Over the following 17 years, he worked as General Manager at a number of Canadian operations, including TMAC Resources’ Hope Bay Project in Nunavut, Canada. Mr. Gagnon holds a Bachelor of Science with Specialization in Geology from the University of Ottawa.

C. Fraser Elliott, Chairman, said, “Gowest and our fellow investors are extremely fortunate to have attracted Dan to join our management team as we accelerate the Company’s development towards our long-stated goal of bringing our wholly-owned Bradshaw Gold Deposit into production. Dan’s experience at this process is unparalleled, and we are confident that, with his leadership, we are on track to achieve our target in a reasonable time-frame.”

Gowest is also pleased to announce the appointment of Mr. Demin (Fleming) Huang as Chief Financial Officer of the Corporation, effective August 28th. Mr. Huang will replace Ms. Janet O’Donnell, whose pending resignation was announced on July 6.

Mr. Huang is a Chartered Professional Accountant and Certified Management Accountant with over 20 years of administration and corporate finance experience in different industries, including resource exploration.   Prior to his current role, Mr. Huang held various management and accounting roles with multiple companies and has been involved in a variety of transactions in resource exploration and utility industries, including financings, acquisitions, joint ventures, mergers, and divestitures. Currently, he is also President and CFO of another TSX Venture resource company.  Coincident with this latest appointment, Mr. Huang will be stepping down as a Director of the Corporation.

C. Fraser Elliott added, “Having the benefit of being on Gowest’s Board since 2017, Fleming will now move on to overseeing the critical financial administrative functions required through this planned transition from an explorer and developer to becoming a mining company.”

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, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

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