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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
$35.9 million
Shares outstanding
23628000
Fully diluted shares
554,515,256
Mineral resource
Mineral Resource Statement – Rowan Deposit Classification | Tonnes (t) | Gold Grade (g/t) | Gold Troy Ounces (oz Au) Indicated | 798,989 | 13.04 | 335,058 Inferred | 363,602 | 15.31 | 179,029 Mineral Resource Statement – Mount Jamie Deposit Classification | Tonnes (t) | Gold Grade (g/t) | Gold Troy Ounces (oz Au) Indicated | 110,385 | 14.02 | 49,740 Inferred | 94,394 | 12.10 | 36,727 Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources for Rowan were estimated at a cutoff grade of 2.00 g/t Au and a gold price of USD $3,200 per ounce. 3. Mineral Resources for Mt. Jamie were estimated at a cutoff grade of 3.80 g/t Au and a gold price of USD $3,200 per ounce. 4. Density used for the estimation on all domains was set at 2.78 g/cm3. 5. There are no Mineral Reserves currently estimated for Rowan or Mt. Jamie. 6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological data is sufficient to imply but not verify geological grade and/or quality of continuity. An Inferred Mineral Resource has a lower level of confidence relative to a Measured or Indicated Mineral Resource and constitutes an insufficient level of confidence to allow conversion to a Mineral Reserve. It is reasonably expected, but not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Measured or Indicated Mineral Resources with additional drilling. 7. The effective date of the MRE is June 1, 2026.
Projects
["Rowan Project\nThe Rowan Mine property is comprised of 119 claims, 50 patented, 18 leased, and 49 staked claims. The Rowan Mine property hosts significant regional gold bearing structures which intersect near the former producing Rowan Mine. The Rowan Mine was in development from the late 1930s to the 1950s with mine workings consisting of a vertical shaft, three levels including an adit on the first level, and underground exploration of drifting and raising along several gold zones.\nThe Rowan Mine property is located on a gold-bearing structure known as the Pipestone Bay St Paul Deformation Zone, which continues east to the town of Red Lake. Gold zones are hosted within a sequence of altered mafic volcanics, felsic volcanics, porphyries, and ultramafics.\nThe Balmer-Confederation aged unconformity, folded iron formations, and ultramafic units on the northern and southern portions of the Rowan Mine property have been shown to be prime hosts for gold deposition in the Red Lake Gold District to depths exceeding 2000m. The three former gold mines on the West Red Lake Project are situated on the Pipestone Bay St Paul Deformation Zone.\nThe NT Zone, which strikes northeast onto the property from the neighboring Newman Todd property operated by Trillium Gold Inc, intersects with the Pipestone Bay St Paul Deformation Zone, forming the highly prospective Structural Intersection target area located 1.5 kilometers east of the Rowan Mine Shaft.\nRowan Mine Deposit\nThe Rowan Deposit Gold Zones have an established strike length of 1200m and remain open at depth. The Rowan Mine Gold Zones have been explored to a depth of less than 500m and contain several high grade gold zones which are a primary target of exploration for expansion to depth.\nNT Zone\nThe goldbearing NT Zone is 2km in length and hosts several high grade gold zones.\nStructural Intersection Target\nThe intersection of the Pipestone Bay St Paul Deformation Zone and the NT Zone occurs between 1km and 2km east of the Rowan Mine Shaft and presents a highly prospective exploration opportunity.","Mount Jamie Project\nThe Mount Jamie Mine property is 100% owned and consists of 26 claims – 9 patented, 1 leased, and 16 staked claims. The property hosts the past producing Mount Jamie Mine which is situated on the east-west trending regional gold bearing structure known as the Pipestone Bay St Paul Deformation Zone.\nThe Mount Jamie Mine had historic gold production with an average grade of 13.3 grams per tonne Au (Source: MNDM). The mine workings included a 770ft deep shaft with 3200ft of lateral development on four mine levels.\nThe main focus of exploration has been gold zones situated in the area of the mine shaft. Several gold zones have been outlined over a 200m strike length in the area of the Mount Jamie Mine.\nA second parallel structure, referred to as the North Zone, is situated 200m to the north of the mine shaft and recent geological interpretation suggests that the North Zone may be the extension of the Rowan Mine Gold System.\nGood exploration potential exists to expand the Mount Jamie Mine gold zones along strike and to depth.","Red Summit Project\nThe Red Summit Mine Property consists of two 100% owned patented claims situated within the Rowan Mine property. The Red Summit Mine claims are situated on a regional east-west trending gold bearing structure known as the Pipestone Bay St Paul Deformation Zone.\nThe main focus of past exploration on the Red Summit Mine claims has been the Red Summit/Red Crest Mine. Gold was discovered in the area in 1928 and work has continued sporadically since then. Limited surface diamond drilling over the years has resulted in the discovery of several gold bearing zones in the vicinity of the mine shaft.\nDrill results indicate that the gold mineralization envelope has a strike length of approximately 600m and has only been explored to a depth of 300m. It is open at depth and along strike to both the southwest and northeast. The Red Summit Mine claims have good exploration potential to expand the high grade gold vein system in the area of the former producing mine."]
Leadership
Shane Williams (CEO, President & Director, Extensive experience in mining operations, previously COO at Skeena Resources and VP at Eldorado Gold.), Harpreet Dhaliwal (CFO, CPA with 16 years of experience in the resource sector, previously CFO at NexGen Energy Ltd.), Will Robinson (Vice President, Exploration, 19 years of experience in precious metals exploration, previously Exploration Manager at Coeur Mining, Inc.), Hayley Halsall-Whitney (Vice President, Operations, Professional Engineer with over 20 years of experience in Canadian mining operations, previously General Manager at Wesdome Gold Mines.), Jason Billan (Vice President, Corporate Development, 15 years in mining sector focusing on corporate development and strategy, previously CEO of Gatling Exploration.), Gwen Preston (Vice President, Communications, 16 years analyzing mineral projects and mining companies, previously ran Resource Maven newsletter.), Derek Teevan (Vice President, Community Affairs, Extensive background in resource development and community engagement.), Jaclyn Ruptash (Vice President, Communications and IR, Over 20 years in resources sector with experience in investor relations and corporate communications.), Tom Meredith (Executive Chairman, Director, 30 years in junior mining industry, former CEO of West Red Lake Gold.), Duncan Middlemiss (Director, Former President & CEO of Wesdome Gold Mines, extensive experience in mining engineering.), Hugh Agro (Director, Over 35 years in mining industry, currently President & CEO of Revival Gold Inc.), John Heslop (Director, Professional geologist with over 40 years in exploration and development, former President of PDAC.), Susan Neale (Director, Over 20 years in resource sector as CFO for various companies, active in Women in Mining Association of BC.)

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