Westhaven Gold granted 300,000 options to officers at $0.375. The grant represents 7.5% of outstanding shares. The company also highlighted its Shovelnose project PEA and Dundee earn-in.
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Westhaven Gold Corp. (TSX-V: WHN) granted 300,000 incentive stock options to officers of the company, the Vancouver-based miner said Friday.
The options are priced at $0.375 per share and expire Aug. 7, 2031. They vest in thirds over 18 months, with full vesting by Feb. 7, 2028.
The grant leaves Westhaven with 19.7 million stock options outstanding, equal to 7.5% of its common shares. The company's equity incentive plan allows for up to 10% of share capital in option grants.
Westhaven controls about 60,263 hectares across four properties in the Spences Bridge Gold Belt in southern British Columbia. The company focuses on epithermal gold-silver mineralization.
The Shovelnose project, the most advanced property, generated a preliminary economic assessment in 2025. That study outlined an 11-year underground mine with average annual production of 56,000 ounces of gold and 313,000 ounces of silver. At base-case assumptions of $2,400 gold and $28 silver, the after-tax net present value was C$454 million at a 6% discount rate. The internal rate of return was 43.2%.
In February, Westhaven closed an earn-in agreement with Dundee Corporation. Dundee can earn up to a 60% interest in the four properties by spending up to C$85 million in staged project expenditures. The first phase includes a minimum of C$30 million, covering a 50,000-meter drill program and pre-feasibility work at Shovelnose.
The technical information in the release was reviewed by Robin Hopkins, Vice President of Exploration, a qualified person under National Instrument 43-101.
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