Gowest Provides Financing Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA) is pleased to
provide the following update on its financing activities;


Project Funding

Gowest's management is currently in discussions with certain well-financed
parties that have expressed an interest in providing various forms and levels of
funding to assist the Company in bringing the Bradshaw Gold Project into
production. These discussions are on-going and will continue into 2014.


Royalty Sale Transactions

As reported last week (see news release dated December 13, 2013), Gold Royalties
Corporation completed its due diligence, finalized definitive purchase and
royalty agreements and paid to Gowest $750,000 cash for a 1.0% gross smelter
return royalty interest on the Bradshaw Deposit. The Company will not be
completing the previously announced second proposed royalty sale transaction
(see news release dated October 22, 2013).


Private Placement

The Company is continuing to advance its previously announced plan to complete a
non-brokered private placement of units of the Corporation at a price of $0.05
per unit (see news release dated October 22, 2013). Each unit will be comprised
of one common share and one common share purchase warrant (a "Warrant"), with
each Warrant being exercisable to acquire one common share of the Corporation at
a price of $0.08 for a period of 24 months following the closing date of the
offering.


As part of this private placement, and as a result of interest expressed in
equity markets, the Company intends to issue certain of the units as
"flow-through" units at a price of $0.055 per flow-through unit. Each
flow-through unit will be comprised of one common share and one Warrant, issued
on a flow-through basis, with each Warrant being exercisable to acquire one
common share of the Corporation at a price of $0.08 for a period of 24 months
following the closing date of the offering. The proceeds derived from the sale
of flow-through units will be used for "Canadian exploration expenses" (within
the meaning of the Income Tax Act (Canada)) in connection with the mineral
exploration programs of the Company.


"As challenging as this economic environment is for our industry, we are having
a number of successes both on the technical side and on the financing front,"
said Greg Romain, President and CEO of Gowest Gold Ltd. "We are driving forward
with our arrangement and plans to see material from the Bradshaw Gold Deposit
processed at a mill near Timmins as previously announced; we have received the
endorsement of the highly respected Gold Royalties team; and, we are receiving
serious interest from a number of well capitalized parties that recognize the
value of our project and the simple fact that the resource sector will
strengthen in the near future."


The securities offered pursuant to the private placement have not been
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States or to, or for the account or benefit
of, U.S. persons absent registration or an applicable exemption from
registration requirements. This release does not constitute an offer for sale of
securities in the United States.


About Gowest

Gowest is a Canadian gold exploration and development company focused on the
development of its 100% owned Bradshaw Gold Deposit (Bradshaw) (formerly
Frankfield East), on the Frankfield Property, part of the Company's North
Timmins Gold Project (NTGP) Gowest is exploring additional gold targets on the
107-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 Bradshaw 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 gold price of US$1,200/oz. The resource estimate was updated on
November 20, 2012 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.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OF THIS RELEASE.


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
www.gowestgold.com
Gowest Gold (TSXV:GWA)
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