TORONTO, ONTARIO – June 7, 2024 – Gowest Gold Ltd. (“Gowest” or the “Corporation”) (TSX-V: GWA) announced today that it has entered into a toll milling agreement (the “Toll Milling Agreement”) with Northern Sun Mining Corp. (“Northern Sun”), pursuant to which Northern Sun will mill and process ore produced from Gowest’s Bradshaw mine at its Redstone mill located in Timmins, Ontario. The Toll Milling Agreement has an initial term expiring one year from the date of the commencement of the milling services to be provided by Northern Sun thereunder.

Pursuant to the Toll Milling Agreement, Gowest will pay Northern Sun’s operating and capital costs to process the Bradshaw ore plus a fixed processing fee per tonne. The milling arrangements under the Toll Milling Agreement are non-exclusive while providing that Northern Sun has been granted a right to match the terms offered by any third-party offering milling services to Gowest.

In addition to other termination rights, Gowest has the right to terminate the Toll Milling Agreement if it is unable to secure adequate financing to recommence mining activities at Bradshaw in 2024. Gowest is currently in the process of seeking financing sufficient to restart mining activities on terms and conditions acceptable to it.

Gowest’s President and CEO, Dan Gagnon said, “This agreement with Northern Sun represents another important step in our plans for restarting and developing the Bradshaw Gold Mine. We look forward to seeing this newest partnership coming to fruition.”

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