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West Red Lake Gold Mines

TSXV:WRLGLive AI agent

West Red Lake Gold Mines Ltd.

Investor website: https://westredlakegold.com/

About

West Red Lake Gold Mines Ltd. is a publicly traded gold company focused on its flagship Madsen Mine in the Red Lake Gold District, a Canadian gold district that has yielded over 30 million ounces of gold in the last 100 years. West Red Lake purchased the Madsen Mine out of bankruptcy in 2023, spent two years developing a reliable resource modelling-mine engineering workflow and building infrastructure essential for efficient operations, and mining a bulk sample. Operations ramped up in H2 2025, setting Madsen up to declare commercial production at the start of 2026 as a rare new gold mine in a rising gold market. Looking ahead: West Red Lake plans to complete a new Prefeasibility Study in 2026 that paves the way for gold production at Madsen double from its starting rate of approximately 45,000 oz. per year in just a few years by developing the nearby Rowan deposit as a satellite mine, while also expanding operations at Madsen. Exploration will happen alongside to test the clear potential to find more gold on the 47-sq. km Madsen land package, which is under explored and brimming with opportunity.

Verified company data

Cash position
$35,917,000
Shares outstanding
23628000
Fully diluted shares
554,515,256
Mineral resource
1.65 M ounces of gold at 7.4 g/t within 6.9 million tonnes in the indicated category. 0.37 M ounces of gold at 6.3 g/t within 1.8 million tonnes in the inferred category. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
Projects
["West Red Lake Gold Mines Ltd. is pleased to provide an update on the phased refurbishment of the Madsen Mine Shaft (the “Shaft”), an important infrastructure project that is expected to increase material handling capacity, improve mining efficiency and lower operating costs while supporting higher production rates as mining and development activities advance to deeper levels of the Madsen Mine (“Madsen” or the “Mine”) located in the Red Lake mining district of Ontario. The Company has successfully completed Phase One of the refurbishment program, demonstrating the ability to safely hoist gold ore and waste material via the existing shaft. Initial Phase One capacity supporting approximately 200 tonnes per day (“tpd”). Additional infrastructure upgrades planned as part of Phase Two and Phase Three which are expected to optimize the system and support higher hoisting rates to 700 tpd and 2,000 tpd. All major equipment required for Phase Two of the Shaft refurbishment is now on site, with installation and associated upgrade work underway. Phase One and Phase Two reach Level 10 at approximately 500 metres depth which can hoist material from the active mining complexes in Austin and South Austin while Phase Three will support material haulage from deeper in the Mine, potentially at Level 17. The phased approach allows the Company to progressively commission the Shaft while continuing to invest in the infrastructure required to unlock its full long-term value.","West Red Lake Gold Mines Ltd. is pleased to announce that the Company has filed on SEDAR+ the independent technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the updated 2026 Mineral Resource Estimate (“MRE”) for the Rowan Project (“Rowan”) as well as a maiden MRE for the nearby Mount Jamie deposit (“Mt. Jamie”) titled “Technical Report on the Updated Mineral Resource Estimates for the Rowan and Mount Jamie Deposits, Ontario, Canada” dated July 22, 2026 (with an effective date of June 1, 2026) (the “Technical Report”). Rowan is located in the Red Lake Gold District of northwestern Ontario, Canada. The Technical Report was prepared by Sims Resources, LLC and Fuse Advisors Inc., independent consulting firms, and is available electronically on the Company’s website (West Red Lake Gold) and on SEDAR+ (www.sedarplus.ca) under WRLG’s issuer profile. There are non-material differences between the MRE in the Technical Report and the information previously disclosed. As part of the final reconciliation and application of rounding standards as well as reporting based on proportional blocks as opposed to entire blocks in the completed Technical Report, the Indicated and Inferred Mineral Resources have been updated. As a result, the majority of the values presented in the table below reflect minor, non-material increases. The effective date of the MRE is June 1, 2026.","West Red Lake Gold Mines Ltd. is pleased to announce the commencement of a fully funded surface drilling program at the historic past-producing Starratt-Olsen Mine (“Starratt”) located approximately 1.1 kilometers (“km”) southwest of its 100% owned Madsen Mine in the Red Lake Mining District of Northwestern Ontario, Canada. The drill program at Starratt will consist of up to 4,000 metres (“m”) of oriented HQ diameter diamond drilling. Targeted areas will focus on up- and down-plunge extensions to previously mined panels at Starratt – investigating for unmined portions of previously defined mineralization and testing for new sub-parallel lenses. This program marks the first focused effort in drill testing the main areas of historic mining at Starratt since mining ceased in the 1950’s. Starratt is the second largest gold producer historically on the Madsen property with ~164,000 oz of gold produced between 1948-1956 at an average grade of 6.17 grams per tonne gold. The 4,000m program is expected to be completed mid-August 2026, with assay results released as they become available."]
Leadership
Shane Williams (President and CEO), Jasvir Kaloti (CFO), Derek Teevan (Vice President, Community Affairs), Maurice Mostert (P.Eng- Vice President, Technical Services), Will Robinson (P. Geo- Vice President, Exploration), Amandip Singh (Vice President, Corporate Development)

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