Westhaven will acquire the stake by paying $300,000 in cash to Almaden, incurring $10m in expenditures and issuing two million common shares to Almaden over four years.

According to Almaden, an additional two million shares will be issued upon the completion of a 43-101 resource estimate.

The Willow project is located near Yerington Nevada and covers an area of hydrothermal alteration interpreted to represent the lithocap to a large preserved porphyry copper-gold system.