West Red Lake Gold Mines(TSXV:WRLG)

West Red Lake Gold Mines Ltd.

Investor website: https://westredlakegold.com/

About

West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km² including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

Verified company data

Cash position
$35,917,000
Shares outstanding
392,417,374
Fully diluted shares
577,745,637
Mineral resource
The MRE for the Rowan Project is provided in Table 5, with an effective date of June 30, 2025. This estimate reflects non-material modifications to the mineral resource estimate in the previous technical report dated April 26, 2024. Table 5: Mineral Resource Statement, Rowan Project, Red Lake, Ontario, effective date June 30, 2025. | | | | | | --- | --- | --- | --- | | Category | **Tonnage (t)** | **Average Grade (g/t Au)** | **Contained Metal (oz Au)** | | Indicated | 478,707 | 12.78 | 196,747 | | Inferred | 421,181 | 8.73 | 118,155 | Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources were estimated at a gold cut-off grade of 3.80 g/t using a long-term gold price of $1,800 USD per ounce. 3. Density used for the estimation on all domains was set at 2.8 g/cm3. 4. There are no Mineral Reserves currently estimated at the Rowan Project. 5. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 6. Mineral Resources are reported within vein wireframes at the stated cut-off grade of 3.80 g/t Au. 7. The effective date of the Mineral Resources is June 30, 2025.
Projects
["West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce the filing of its independent pre-feasibility study (“PFS”) technical report for its 100% owned Madsen Mine project located in the Red Lake Gold District of northwestern Ontario, Canada, with an effective date of January 7, 2025 (the “PFS Technical Report”).\n\nThe PFS Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and supports the disclosure made by the Company in its January 7, 2025 news release announcing the results of the PFS. There are no material differences in the PFS Technical Report from the information disclosed in the January 7, 2025 news release.\n\nWest Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.","West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce the positive results of a Preliminary Economic Assessment (“PEA”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI 43-101”) for a toll milling mine operation at its 100%-owned Rowan project in the Red Lake Gold District of northwestern Ontario, Canada (“the Rowan Project”).\n\nThe effective date of the PEA is June 30th, 2025, and a technical report relating to the PEA (the “Technical Report”) will be filed on SEDAR+ within 45 days of this news release.\n\nRowan PEA Highlights:\n- **High-Grade Efficient Mine**: Underground mine via long hole retreat method, delivering an average diluted head grade of 8.0 grams per tonne (“g/t”) gold (“Au”), accentuated by 10.4 g/t Au average grade in Year 1.\n- **Notable Production**: 35,230 oz. average annual Au production over the 5-year mine life from an average mining rate of 385 tonnes per day (“tpd”).\n- **Strong Value:** $125.3M post-tax Net Present Value (“NPV”) at US$2,500 per oz Au. Post-tax NPV rises to $239M at US$3,250 per oz Au.\n- **Low Costs and Strong Returns:** US$1,408/oz all-in sustaining cost (“AISC”) and 41.9% post-tax internal rate of return (“IRR”), underscoring the viability of the Company’s second potential mine in the region. IRR increases to 81.7% at a US$3,250/oz gold price.\n- **Modest Initial Capital**: Multiple mills in the area with excess capacity create the opportunity to develop Rowan as a toll milling operation with initial capital of just over $70 million.\n- **High Confidence Inventory:** PEA mine design includes 63% of mined tonnes and 72% of mined ounces from the Indicated category – provides solid base for transition into prefeasibility study (“PFS”) level assessment.\n- **Simple Metallurgy**: Free gold-dominant mineralization resulting in 75.8% to 94.9% gold recovery through gravity processing during metallurgical test work, which also supports toll milling potential.\n- **Development and Permitting Timeline**: The Company plans to complete a Pre Feasibility Study (“PFS”) on the Rowan Project by Q3 2026, to continue advancing this valuable opportunity. The final year of 3-year baseline environmental data collection period is underway and the Company has been engaging with the regulators to support an expedited permitting process. New Bill 5 legislation in Ontario is intended to speed up the mine approval process. The WRLG team will work with the regulators and its Indigenous partners to permit and construct the Rowan Mine.\n- **Significant Exploration and Growth Potential:** There are multiple opportunities to define additional mineralization at Rowan by (1) expansion drilling on the two main veins of the deposit included in this PEA mine plan (v001 and v004) especially at depth, (2) infill and expansion drilling on parallel veins adjacent to the PEA mine plan with data gaps stemming from selective historic drill sampling, (3) drill testing expansion targets along strike from the Rowan vein system, and (4) testing high potential new targets at the property including Apex and Big Bend."]
Leadership
Shane Williams (President & Chief Executive Officer), Harpreet Dhaliwal (Chief Financial Officer, Highly regarded financial executive with 16 years of experience in the resource sector. Previously served as CFO at NexGen Energy Ltd.), Jasvir Kaloti (Corporate Secretary), Hugh Agro (Director, Over 35 years of leadership and business experience in the mining industry. Currently President & CEO of Revival Gold Inc.), Jaclyn Ruptash (Vice President, Communications, Over 20 years of experience in the resources sector, specializing in investor relations and corporate communications.)

Verified data last updated: 2026-06-12

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