VANCOUVER, British Columbia — June 5, 2024 — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to outline some of the key mine infrastructure and development projects the Company plans to undertake at the Madsen Mine in the near to medium term with the funds from its recent financings.

West Red Lake Gold has a goal to restart the high-grade Madsen gold mine in the second half of 2025. The company is working on a pre-feasibility study detailing that restart plan, which is targeted for release in early 2025.

West Red Lake Gold has identified the mine site projects of scale that will be critical to the restart plan.

The Company will be commencing work on these critical path projects in the coming weeks and months, alongside the consistent drilling, exploration, and engineering work that is informing the prefeasibility study and outlining potential project enhancements in the future.

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Shane Williams, President & CEO, stated,

 

“With the funds raised in our recent financings, including $10 million in Canadian Development Expense flow-through funding, we are excited to get started on these important projects.

 

“With a year of work under our belts at Madsen, we know what needs to be procured, built, and developed at the mine site over the next six to twelve months to achieve our goal of restarting the mine in 2025.

 

“We look forward to keeping investors up to date on key milestones as this work progresses.”

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KEY MINE INFRASTRUCTURE AND DEVELOPMENT PROJECTS:

• Connection Drift: 1,200-meter haulage way to connect the East and West portals/declines at the Madsen Mine, to increase material hauling efficiency, ventilation, and safety. The Company’s recent financing (see press release West Red Lake Gold Announces Closing $33 Million Bought Deal Public Offering Including The Full Exercise Of The Overallotment Option, dated May 16^th) raised $33 million. Of that total, $10 million were flow-through funds raised for use under the Canadian Development Expense category; that amount is in line with the company’s cost forecast for this project. The company is pleased to be able to use flow-through funds of this type to fund development of this key haulage way in the Madsen mine.

• Primary Crusher: Install a permanent primary crusher as part of the Madsen mill, which previously relied on a temporary leased crusher.

• Test Mining: Initiate a test mining program to assess longhole stoping and cut-and-fill mining methods on the range of mining environments at Madsen. This will be an essential step in further de-risking the asset.

• Bulk Sample: Analyze samples from the test mining program through a sample tower to determine representative grade of a bulk sample.

• Camp: Procure and install a mine camp to house 100 workers at the Madsen mine site.

• Mine Dry: Procure, install, and staff a facility with showers, change areas, and laundry where workers can transition into and out of work shifts.

• Evaporators: Install two (2) evaporator fans with the ability to manage 2,000 cubic meters of water daily, to increase overall water management capacity at the mine site.

• Shaft Rehabilitation: Continue the process of dewatering the mine and rehabilitating the existing shaft, which is now certified to move people for the purpose of inspecting shaft conditions.
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To View West Red Lake Gold Mines’ historical news, please click here

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To read the full news release please click HERE

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Disclosure

At the time of writing the author holds no  shares in West Red Lake Gold Mines.

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