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Ken Armstrong

Ken Armstrong

Reporter

Sep 29, 2026

7:15
So we've got this kind of south zone which seems to be opening up and giving up some good numbers.
7:21
Yeah, we just announced the finish of an infill drill program that we put together with Dundee on announcing the financing.
7:28
So that was 35,000 meters which is part of a broader 50,000-meter drill program.
7:34
And we've sort of executed, ramped that up, and yeah, excellent results, but kind of expected, too.
7:39
As John said, it's a real deposit.
7:42
What we're seeing is these wide intervals, sort of 30, 40, up to 50-meter wide widths of 4, 5, up to 9 grams per ton, with some higher-grade areas in that.
7:50
But yes, we're seeing on the edges areas that are outside of the mine stopes that are part of our PEA, high high grade intercepts that we need to follow up and there's one in particular that we announced a couple of weeks ago was 12 grams over 10 meters it's 40 meters below the the deepest stopes in the mine plan we need to follow that up and understand where is that leading us and is that evidence of of the whole system going to depth is that the feeder those sorts of questions will be part of the of the the exploration story i think and expanding things going forward but with The resource infill drilling we've done now, that's giving us sort of that core piece that we need to complete a revised resource that will be then the basis of the PFS.

7 MINS LATER

15:51
In terms of what you were left with, with your 40%, why is that a good thing for shareholders?
1:37
be.
1:39
I think he will hold, if nothing else in this world, he is a man of honor and someone that holds to his commitment.
1:46
Yes, sir.
1:47
I just wanted to publicly state real quick, it has been a huge honor to work with Jason.
1:54
I think the selection of Jason during the pandemic now, don't forget about that.
1:58
He started as the fire chief during the pandemic, following Chief Chilton, who did a great job too.
2:04
But follow that, put that, no one wanted, I can't think of a worst case scenario to start a job like that.

5 MINS LATER

7:37
Right.
9:21
The 15,000 meters, could you break down the difference between those two drill programs?
9:25
Yeah, so the 35,000 meters is focused entirely on the South Zone.
9:30
And again, the South Zone is the biggest of the three deposits that West Haven has discovered.
9:34
It's about 80% of the global million ounce resource that was the subject of the PFS in 2025.
9:42
And the purpose of that is genuinely infill.
9:44
It's kind of picking the edges.
9:45
These are low sulfidation epithermal deposits.
13:46
So can you give us more information on some of these targets, what the team has learned over this decade, and especially you being in this role for now a little bit over a year, how you can speed up this discovery and then past discovery get to resource stage? on new ounces?
22:54
What are the things journalists should look out for when they're in a collaboration like that? Do you like it, A? And then what are some tips on how to manage being in the middle of that process?
23:07
To question A? I love it.
23:10
I love being in a collaborative setting.
23:13
And that's something that I've been doing for most of the last 15 years.
23:17
A lot of projects with multiple newsrooms, multiple reporters, all kinds of other people who are contributing.
23:25
Mark, I sometimes think about how lucky I've been in my career because if you took all of the reporters and editors I've worked with on individual stories and you created a newsroom, out of them, I would put that newsroom up against any in the world.
23:40
I have been that lucky with unbelievable.

15 MINS LATER

38:18
I'm wondering if you could help give us some advice for those who want to explore it more deeply and even understand kind of what's achievable as a solo journalist.
7:47
you talking about?
7:47
Oh, on social media, making negative comments about the work that they do and directed toward Divine and everything.
7:54
And it's just extremely frustrating.
7:55
You know, it's very easy to sit behind a computer and make comments, negative comments about what work's being done and you're not willing to put skin in the game and go out there and do it yourself.
8:08
Or you have no idea.
8:10
How many times have I seen on social media comments like, and I'm sure you'll address this here in a minute, but we're on a streak right now with no criminal homicides, knock on wood, right, that we haven't had any.
8:22
But then there'll be common lights, well, we're still having shootings, we're still having this.

9 MINS LATER

16:59
Yeah.
speaker_4UNKNOWN
16:59
Let's go.
17:00
That's the guy, by the way, we're missing.
17:02
That's great.
17:03
Okay, let's talk about the 4th of July a little bit.
17:05
The big one, 250.
17:07
You know, it's a big deal.
17:09
We got a lot of events going on around town.

18 MINS LATER

speaker_7ADVERTISER
34:59
well.
9:23
Where's that law come from, Commissioner? The
9:26
specific law, that's actually an agreement we have with them, but there are certain laws in place right now.
9:30
You mean just locally? Yes.
9:33
We have an agreement with them to hold it for 72 hours.
9:35
That agreement's been in place well over 10 years.
9:38
or so, you asked something specifically or the caller did or the texter, whichever way you want to say it.
9:47
When we take someone that's not a legal resident in, there are certain other things that occur there, but it's not the correction facility's responsibility to or ability to identify or confirm if someone is a United States citizen or not, and that falls to ICE or the Department of Homeland Security.
10:55
But we do work in cooperation with the state, right? Yes,
3:40
Right
3:40
... aurigenic gold that we're used to.
3:42
This is, this is high grade, uh, low sulfide.
3:44
I mean, if you wanna, the, the sort of gold standard comparable w- right now in the world would be Lundin Gold and Fruta Del Norte.
3:50
You know, that is a bit of a unicorn geologically where there's other things happening, but that's the style of mineralization that we have.
3:57
But to the cost side, it's really location with where we are.
3:59
So we're, the deposit's a two-and-a-half-hour drive from Vancouver, um, about half an hour south of Merritt, for those that have been in the southern part of, of British Columbia.
6:08
So at that point, well-Talk about why that, that, that-- what, what-- why is that so advantageous to you guys, and what does that allow you to do, either from a resource allocation or, um, uh, knowledge and experience or just, you know, mental planning? Kinda talk about why that's so valuable.
13:21
Yeah.
13:22
So to have that kind of insider ownership, that represents continued investment in the work that we've been doing into the discoveries that Westhaven's made.
13:30
Um, and, and I think it's just important to keep that in mind.
13:33
Um, the, the, the agreement that we have with Dundee, um, and I'm sure we'll, we'll talk a little bit more about the details on that, but, uh, Dundee's gonna fund or can fund up to the next $85 million in exploration and development on these projects going forward.
13:48
Our share structure at, uh, fully diluted at, at, at, at just over 300 million shares outstanding, I think the main point there is, is to, to, to take away is that that's not gonna change now.
13:58
Um, the, the financing risk to advance the project has been, um, taken care of with this agreement with Dundee.
14:06
So it means we're not, there's not going to be a big 150 or 200 million share diluted financing that's gonna hit the market in the next two or three years, 'cause we're not gonna need to do that.

10 MINS LATER

24:24
So given your g- uh, career working in a pretty diverse set of jurisdictions, tell us why BC is unique.
10:59
And once again, you're talking about the type of trend that you're developing right now with the length of the Spain's Gold Bridge district.
11:08
Yeah, so the target deposit, they're called low sulfidation epithermal gold deposits, gold silver deposits.
11:16
It's gold, primarily gold.
11:19
Sort of the gold standard example of one of these deposits right now would be Frida del Norte in Ecuador with Lundian gold.
11:25
Like that's the style of mineralization uh, that we're after.
11:29
There's a number of other examples of, of deposits like that around the world.
11:32
These are a high grade and they can, they, they, they are very high margin deposits if you can find them.

9 MINS LATER

20:42
So what do you have to advance right now in terms of the PA? So What types of de-risking are you going to be doing? Or what are you looking forward to in terms of like what you want to see in terms of evolving the PA forward going through as you advance shovel nose?

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