Gowest Gold Issues Final Tranche of Shares to Mattagami First Nation and Matachewan First Nation Under 2011 Exploration Agree...

Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF)
reports that it has issued the fourth and final tranche of 12,500 of the
Company's Common Shares each to the Mattagami First Nation and the Matachewan
First Nation according to the terms of the 2011 Exploration Agreement (EA) (see
Gowest release dated October 27, 2011,) bringing the total to 50,000 shares
issued to each First Nation. The shares were given in part as a goodwill gesture
aimed at promoting a cooperative ongoing discussion between the parties with
regards to the Company's North Timmins Gold Project. 


The EA established the framework for these discussions by setting out
provisions, which include business, employment and training opportunities
activities for members of the two First Nations to participate in the
exploration around the project. In addition, Mattagami First Nation, Matachewan
First Nation and Gowest have agreed to negotiate an Impact Benefits Agreement
should the project proceed as currently planned.


About Gowest

Gowest is a Canadian gold exploration and development company focused on the
delineation and development of its 100% owned Frankfield East gold deposit, part
of the Company's North Timmins Gold Project (NTGP). Gowest is exploring
additional gold targets on the 90-square-kilometre NTGP land package and
continues to evaluate the area, which is part of the prolific Timmins, Ontario
gold camp. The latest updated resource estimate for Frankfield East included
approximately 945,600 ounces of gold ("Au") in the Indicated category (6.0
million tonnes at a grade of 4.9 grams per tonne ("g/t") Au) and 536,800 ounces
of gold in the Inferred category (3.7 million tonnes at a grade of 4.2 g/t Au).
As was used in the Company's recent Preliminary Economic Assessment, the current
estimate is based on a 3.0 g/t Au cut-off and a conservative gold price of
US$1,200/oz. This resource estimate has been completed by Neil N. Gow, P. Geo.,
an independent Qualified Person, and reported in accordance with Canadian
Securities Administration National Instrument 43-101 ("NI 43-101") requirements
and CIM Standards on Mineral Resources and Reserves.


Forward-looking statements

This news release contains certain "forward-looking statements". Such
forward-looking statements involve risks and uncertainties. The results or
events depicted in these forward-looking statements may differ materially from
actual results or events. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gowest Gold Ltd.
Greg Romain
President & CEO
(416) 363-1210
info@gowestgold.com


Gowest Gold Ltd.
Greg Taylor
Investor Relations
905 337-7673 / Mob: 416 605-5120
gregt@gowestgold.com

Gowest Gold (TSXV:GWA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024