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Vancouver, British Columbia, September 15, 2025 – West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has entered into an agreement with Raymond James Ltd. as sole underwriter (“Raymond James”) pursuant to which Raymond James has agreed to purchase, on a “bought deal” basis, 26,316,000 common shares (the “Common Shares”) and 3,760,000 charity-flow through shares (the “Charity Flow-Through Shares”) of the Company at a price of $0.95 per Common Share (the “Common Share Issue Price”) and C$1.33 per Charity Flow-Through Share (the “Charity Flow-Through Issue Price”) for aggregate gross proceeds to the Company of approximately C$30 million (the “Offering”).

The Company has agreed to grant Raymond James an over-allotment option to purchase up to an additional 15% of the aggregate number of Common Shares at the Common Share Issue Price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the Offering.

The net proceeds pursuant to the issuance of the Common Shares are expected to be used to continue to advance the Madsen Gold Mine, including completing ramp-up of operations to commercial production and expediting capital projects to enable higher output sooner than would otherwise be scheduled.

Pulling such projects forward supports the Company’s longstanding plan to increase production carefully but rapidly in order to position as a growing gold producer as the emerging gold market unfolds.

Proceeds are also expected to be used to pursue growth opportunities as well as for working capital and general corporate purposes. T

he gross proceeds pursuant to the issuance of the Charity Flow-Through Shares will be used to incur qualifying Canadian exploration expenses on the Company’s assets, primarily at the Rowan Project where the Company plans to complete infill drilling, engineering, and continuing environmental work in support of a pending Pre-Feasibility Study.

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West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF)is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of North western Ontario, Canada.

The drill results featured in this news release are focused on the high-grade South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces grading 8.7 grams per tonne gold , with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.

These results further expand on the high-grade panel of gold mineralization within South Austin, which has been a key focus of definition drilling in 2025.

The results highlighted from drill bay 09-4300 have increased confidence in the eastern portion of the lens, while drilling from the1 1-4420 drill station has helped to validate the lens down plunge to the east.

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Shane Williams, President & CEO said;

“The high-grade panel of gold mineralization the team is currently defining and expanding in South Austin has been delivering exceptional grades and thicknesses.

 

“Archaean lode-gold vein systems like Madsen are well known for having pockets of mineralization that are often discrete, very high-grade and require tight-spaced drilling to properly define.

 

“The success we are having in South Austin with the underground definition program underscores the importance of getting the drills deeper in the system and into high priority areas of the deposit so that additional high-grade pockets and lenses can be discovered, drilled off and integrated into the mine plan.”

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To read the full news release, please click HERE

The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in West Red Lake Gold Mines.

To read our full terms and conditions, please click HERE

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)(OTCQB: WRLGF)provides an update on ramp-up operations at the Madsen Mine in Red Lake, Ontario.

Following the fatal incident at site on the morning of June 16th, the mine and mill were both shut down. The mill restarted after approximately 40 hours. The mine restarted 12 hours after the mill, ramping up within to full operations based on personnel availability and within a safety-first structure. 

“With the clear exception of the tragic underground incident, ramp-up at the Madsen Mine is progressing well.

“Mill head grades increased in June as we transitioned from the mixed and generally lower-grade material that had been stockpiled during the bulk sample program, which we processed in May, into freshly mined material that should be more representative of average ore grades going forward.

“The mill has been averaging 650 tonnes per day with 95% gold recovery and has been tested at higher levels several times without issue.

“We look forward to increasing mining rates over the coming months as ramp-up equipment arrives on site and we access additional mining areas, keeping in mind the Company’s number one priority is operational safety.”

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The Madsen Mine started ramp-up operations on May 11^th. Initially, mill feed was predominantly sill material that had been stockpiled during the bulk sample program, during which time only stope material was processed. Sill material is mined during level access development and is typically lower grade than stope material.

As mining ramps up, the mill head grade has increased. Milled grade has increased from approximately 3 grams per tonne gold (“g/t Au”) in the first two days of June to average 6.5 g/t Au from June 12^thto 15^thas stope material increased in proportion to sill material. Material going through the mill is now generally grading at levels comparable to the Madsen mine bulk sample. Observed grade variability, including days when gold grade jumps notably, is within the expected range for a deposit of this nature.  

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)(OTCQB: WRLGF)is pleased to report how learnings from the test mining and bulk sample program at its 100% owned Madsen Mine (the “Project”) in the Red Lake Gold District of Northwestern Ontario, Canada, are translating directly into a detailed mine plan with generally larger stopes, greater mining efficiencies, and lower cost mining methods than anticipated.

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The test mining and bulk sample program had two goals:

1. To confirm that the geologic, engineering, and mining workflow at Madsen enables the Company to model and mine mineralization accurately.
2. To test various mining scenarios and use the results to enable confident mine design that maximizes economic extraction.

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The bulk sample results (reported on May 7) achieved the first goal. Close reconciliation between expected and actual tonnes, grade, and contained ounces across six stopes in three areas of the resource validates the Company’s ability to mine at Madsen according to plan.

The Company also succeeded with the second goal. Test mining demonstrated the ability to mine up against historic stopes, which reduced barriers in stope design and unlocked some resource potential.

Test mining also highlighted the efficiency of mining larger stopes and mining clusters of proximal stopes (known as mining complexes), two notable opportunities that are developing at Madsen because mine design is both a technical and economic exercise.

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The workflow that leads to detailed mine design at Madsen is as follows:

1. Each resource area is definition-drilled to a drill hole spacing averaging 7 meters.
2. The in-house, short-term model is updated to incorporate the new drill data.
3. Stopes are engineered based on the updated model to maximize economic extraction of mineralization, at an assumed gold price.

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Gold mineralization at Madsen often comprises high-grade lenses surrounded by lower-grade mineralized halos. The above workflow is designed in part to define high-grade lenses of gold mineralization that can go unnoticed with wider-spaced data sets. Recent high-grade drill results from the South Austin area (see news releases from May 27, May13, and February 26) demonstrate this potential.

Definition drilling also enables accurate modelling of lower-grade halo mineralization ahead of stope design.

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West Red Lake Gold is currently using the consensus long-term price of US$2,350 per ounce (“oz.”) in mine design, compared to a gold price of US$1,680 per oz. used for the mine plan in the Madsen Mine Pre-Feasibility Study (“PFS”) [1].

The relatively low gold price in the PFS led to a mine plan with 60% of the mining being small, high-grade stopes requiring the use of cut-and-fill mining, the more selective and higher cost of the two mining methods outlined for use at Madsen [1a]. In addition, the need to drive accesses between multiple small stopes contributed to relatively high sustaining capital needs over the mine life.

The PFS mine plan generated strong economics that supported the restart decision. However, using a higher gold price in stope design effectively lowers the cutoff grade for resource inclusion, bringing additional resource tonnes and more overall ounces into consideration for mine planning.

When lower grade tonnes prove to be economic, it can result in larger stopes encompassing one or several high-grade gold lenses with surrounding halo mineralization. It can also define new mining shapes around proximal areas of mineralization that were not previously considered. This is especially possible where definition drilling has defined or expanded high-grade lenses, which have the potential to mitigate the impact on head grade of including lower grade tonnes over the life of mine.

Image showing Austin 1099/1100 stope complex (blue).

This area realized a 204% increase in tonnage and 222% increase in contained ounces mainly driven by definition drilling.

 Image showing McVeigh 1453 stope complex (blue). This area realized a 32% increase in tonnage and 18% increase in contained ounces mainly driven by definition drilling.

A more global potential benefit from mining larger stopes at Madsen is mining more of the resource.

A mine plan based on a gold price of US$1,680 per oz. depletes the deposit relatively quickly, which is evident in a PFS probable reserve of only 478,000 ounces in 1.87 million tonnes grading 8.2 g/t gold mined in 7 years [1c], from a deposit with a total indicated resource of 1.65 million ounces of gold hosted in 6.9 million tonnes of rock averaging 7.4 g/t gold (the combined indicated resource for the Austin, South Austin, McVeigh, and 8 Zones) [1d].

The Madsen Mine PFS described the potential for more of the resource to be considered for mining if a higher gold price was used [1e].

A gold price environment that allows mine design to convert more of the resource into reserve suggests a longer mine life than outlined in the PFS, which is expected to have a positive impact on long-term profitability and overall project economics.

Close reconciliation between expected and actual tonnes and grade in the bulk sample suggests that the Company’s approach – appropriate definition drilling, responsive mine engineering, and disciplined, efficient mining – is creating the ability to mine at Madsen according to plan.

The mine engineering and design process is a technical and economic exercise that responds to the price of gold. This will remain the Company’s practice at the Madsen Mine.

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of North Western Ontario, Canada.

Shane Williams, President & CEO, stated,

“The South Austin zone has been producing very high grades and impressive widths in the definition drilling program to begin 2025 – often associated with the presence of visible gold.

 

“The team is successfully defining a panel of very high-grade mineralization in South Austin between 8L and 12L of the mine.

 

“It is becoming apparent that a lot of high-grade material was left behind in this area by historic operators and we are taking full advantage of this low hanging fruit that sits immediately adjacent to our existing underground development.

 

“These organic growth opportunities are exciting because they represent high margin ounces that can be sequenced into our mine plan very efficiently.

 

“As drilling progresses at depth we expect to uncover more areas of untapped potential and look forward to providing further updates as assay results continue to be received.”

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSX.V: WRLG)(OTCQB: WRLGF) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of North western Ontario, Canada.

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Shane Williams, President & CEO stated 

“As the underground definition drill program at Madsen advances at depth we continue to unlock significant value within the orebody.

 

“While the life-of-mine resource model accurately informs metal content throughout the deposit, it is tight-spaced drilling provides the resolution needed to properly quantify and realize further upside potential from the very high-grade pockets of gold mineralization ahead of stope design.

 

“The area highlighted in this update sits just beneath Stope 6 from our recent bulk sampling program and demonstrates the growth potential and increased continuity we are seeing in the deposit at depth.

 

“Having just reported excellent reconciliation results from our bulk sampling campaign, and with strong tailwinds from a rising gold market, the team’s confidence level is high as we move towards ramping up production at Madsen in the second half of 2025.”

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West Red Lake Gold Mines  (TSX.V: WRLG)

Looks back at 22 months of achievements that have brought the project to this point.

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With the Madsen Mine in Ontario, Canada, on track to start operating in a few months,West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSX.V: WRLG) (OTCQB: WRLGF) looks back at 22 months of achievements that have brought the project to this point.

“As we process our bulk sample – producing gold and further reinforcing that our systematic approach will successfully deliver Madsen as a new, high-grade gold mine in Canada – it is time to reflect on how West Red Lake has delivered on its goals.

 

“We bought a complicated asset, assessed needs, and got to work. We stated specific goals and we have delivered on those goals.

 

“Our plan has always been to restart Madsen as a sustainable mine and, with anticipated production just months away, we are on track to deliver this project from purchase to production in only two years.”

 

West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSX.V: WRLG) (OTCQB: WRLGF)is pleased to provide an update on mine restart activities at the Madsen Mine, where the mill is now processing low-grade material ahead of introducing Stope 1 of the bulk sample next week.

In addition, the camp is now housing workers, the pace of underground development continues to rise, and the Connection Drift is within 84 metres (94%) of completion. There is active development and mining in multiple areas of the mine.

“Turning on the Madsen Mill to process the bulk sample was a very exciting moment for the entire West Red Lake Gold team, who have been working tirelessly in recent months as we push towards production.

 

“A smooth restart of this major piece of infrastructure reinforces that our level of preparation has created translated into successful operational readiness ahead of initial production.

 

“With gold prices trading at record levels, it is an exciting and fortuitous time to be making the transition from developer to producer.”

Figure 1. Recently collected rock sample with visible gold from South Austin 11 Level, specifically from Heading SA_11_987_SIL.

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Mill Restarted

The mill was started up on Monday March 10^thafter 28 months of maintained dry shutdown. Ahead of restart the Company’s mill team completed extensive pre-commissioning work, including replacing mill liners and discharge lines, cycling process water through the system, and revitalizing the CIP and carbon circuits.

The mill encountered no operational issues on restart. For the first five days the facility processed material from a legacy low-grade stockpile, after which feed transitioned to a modern stockpile of low-grade material.

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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”).

The 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 (available here).

TECHNICAL INFORMATION AND TECHNICAL REPORT FILING

A copy of the PFS Technical Report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.westredlakegold.com.

Readers are encouraged to read the PFS Technical Report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the Mineral Resource, Mineral Reserves and life of mine plan. The PFS Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

ABOUT WEST RED LAKE GOLD MINES

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.

To read the full news release please click HERE

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The live Spot gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in West Red Lake Gold Mines.

To read our full terms and conditions, please click HERE