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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 Canadian gold producer and developer advancing a high-grade, district scale opportunity in the Red Lake district of Ontario. The Company’s flagship Madsen Mine has recently achieved commercial production and is positioned as the central hub of a growing multi asset platform. The Company controls a 47 km² land package in one of the world’s most prolific mining districts, which has historically produced over 20 million ounces of gold from high grade systems. West Red Lake also owns the Rowan Property in Red Lake, covering 31 km² that includes three past producing mines (Rowan, Mount Jamie and Red Summit) and represents a key source of future production growth. Looking ahead: West Red Lake plans to complete an updated Prefeasibility Study in 2026 currently proposed to combine Madsen and the second past producing asset, Rowan demonstrating the growth potential in the region.

Verified company data

Cash position
C$6.0M
Shares outstanding
36232000
Fully diluted shares
554,515,256
Mineral resource
West Red Lake Gold Mines Ltd. announces an updated Mineral Resource Estimate (MRE) effective as of March 1, 2024, on its 100% owned Rowan Mine Deposit, located in the Red Lake Gold District of Northwestern Ontario, Canada. - Indicated resources of 476,323 tonnes grading 12.78 grams per tonne (g/t) gold (Au), for a total of 195,746 ounces (oz) Au. - Inferred resources of 410,794 tonnes grading 8.76 g/t Au, for a total of 115,719 oz Au. - The 2024 MRE has added a significant portion of higher confidence Indicated ounces at grades 40% higher than the 2022 MRE. - Relative to the 2022 Rowan MRE, there was a decrease in the Inferred mineral resources from approximately 827,000 ounces to 116,000 ounces and an increase in Indicated mineral resources from zero to approximately 196,000 ounces. The drop in Inferred metal content is mainly attributed to 1) conversion of Inferred to Indicated resources, 2) a more rigorous modeling approach, and 3) more stringent resource estimation parameters implemented to account for the high gold grades typically seen at Rowan. - A $4.5M drill program is planned and fully funded for up to 15,000m of drilling at Rowan in 2024, focused on growth and resource expansion on the main Rowan Mine deposit.
Projects
["West Red Lake Gold Mines Ltd. announces its financial and operating results for the three and six months ended June 30, 2026 from the Madsen Mine located in the Red Lake mining district of Ontario. The Company will hold a webcast on August 26, 2026 to discuss the results. Q2 2026 Highlights - Gold production increased 51% to 8,576 ounces, compared with 5,667 ounces in Q1. - Gold sales increased 34% to 8,260 ounces, compared with 6,165 ounces in Q1. - Revenue increased 17% to $49.0 million, generating $20.1 million of income from mine operations, a 31% increase from Q1. - Adjusted net earnings increased 98% to $12.6 million, compared with $6.4 million in Q1. - Adjusted EBITDA increased 54% to $22.1 million, compared with $14.4 million in Q1. - Cash costs decreased 23% to US$2,000 per ounce sold, compared with US$2,594 per ounce in Q1. - All-in sustaining cost (AISC) decreased 30% to US$3,284 per ounce sold, compared with US$4,678 per ounce in Q1, bringing Q2 AISC within the Company’s 2026 guidance range of US$2,800 to US$3,600 per ounce. - The Company generated $9.7 million of positive free cash flow during Q2. - The Company ended Q2 with approximately $31.2 million in cash and cash equivalents."]
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.)

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