GWA Gowest Gold Ltd

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


Gowest Gold Ltd. (the "Corporation") (TSX VENTURE:GWA) is pleased to announce
that it has completed a closing of its previously announced non-brokered private
placement for aggregate gross proceeds of $200,005 (the "Offering").
Specifically, the Corporation issued:




 (i)  1,400,000 units of the Corporation, at a price of $0.05 per unit, each
      unit comprised of one common share and one common share purchase      
      warrant (a "Warrant"); and                                            
                                                                            
 (ii) 2,363,727 "flow-through" units of the Corporation, at a price of      
      $0.055 per unit, each unit comprised of one common share and one      
      Warrant issued on a flow-through basis.                               



Each Warrant is exercisable to acquire one common share of the Corporation (a
"Warrant Share") at a price of $0.08 until December 31, 2015.


The proceeds of the Offering will be used in advancing the Company's
wholly-owned Bradshaw Gold Deposit (formerly named Frankfield East) towards
final financing and construction and the proceeds raised from the sale of
"flow-through" units will be used for Canadian Exploration Expenses (within the
meaning of the Income Tax Act (Canada)) related to the exploration programs of
the Corporation.


All of the securities issuable in connection with the Offering will be subject
to a hold period expiring four months and one day after date of issuance.


The securities offered 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.


Subscriptions by insiders of the Corporation accounted for approximately
$140,000 of the gross proceeds of the Offering. Participation by the insiders in
the Offering is exempt from the valuation and minority shareholder approval
requirements of Multilateral Instrument 61-101 Protection of Minority Security
Holders in Special Transactions ("MI 61-101") by virtue of the exemptions
contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101.


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 TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM
IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY 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)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Gowest Gold (TSXV:GWA)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024