Westhaven Gold Corp. ($whn) and Dundee Corporation Enter Strategic Partnership
Westhaven Gold Corp. ($whn) and Dundee Corporation (TSX: DC.A) are excited to announce the effectiveness of their definitive earn-in agreement, which allows Dundee to acquire up to a 60% interest in Westhaven's Shovelnose Gold Project, Prospect Valley Gold Project, Skoonka Gold Project, and Skoonka North Project located in the Spences Bridge Gold Belt of southern British Columbia. This agreement follows shareholder approval obtained by Westhaven on February 17, 2026.
As part of the agreement, Dundee has committed to fund project expenditures totaling CDN$85,000,000, with an initial investment of at least CDN$30,000,000 by February 20, 2029, to secure a 25% interest in the Projects.
Jonathan Goodman, President and CEO of Dundee Corporation, expressed enthusiasm about the partnership, stating, "This transaction represents a significant milestone for our growth strategy, combining Dundee's financial strength and expertise with Westhaven's exceptional assets."
Ken Armstrong, President and CEO of Westhaven, welcomed Dundee as a strategic partner, emphasizing the potential for accelerated exploration and development at Shovelnose. The initial phase funding will include 50,000 meters of resource and exploration drilling in 2026, with an investment of CDN$20,000,000 allocated for this purpose.
Dundee's interest will be held through a newly formed subsidiary, JVCo, established under British Columbia law by June 20, 2026. Until Dundee earns a 50% interest, Westhaven will continue to operate the Projects, with management fees of up to 3% of project expenditures.
The Projects are located within the underexplored Spences Bridge Gold Belt, covering approximately 615 square kilometers of highly prospective volcanic rock for epithermal gold mineralization. For further details regarding the Earn-In Agreement and the joint venture shareholders agreement (JVSA), refer to Westhaven's news release dated December 22, 2025.
Westhaven Gold also controls an advanced property, the Shovelnose gold project, which has been validated by a recent 2025 Preliminary Economic Assessment, showcasing its potential as a profitable underground gold mining operation.
Explore more about these developments on Inside Ticker.