VANCOUVER, British Columbia, September 23, 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 closed its previously announced bought deal public offering (the “Offering”) of 37,526,800 common shares of the Company (“Common Shares”) at a price of C$0.95 per Common Share for gross proceeds of C$35,650,460, which , includes the full exercise of the over allotment option, and 3,760,000 charity-flow through shares (the “Charity Flow-Through Shares”) at a price of C$1.33 per Charity Flow-Through Share for gross proceeds of C$5,000,800.
In combination, the Company has closed on aggregate gross proceeds totaling C$40,651,260 through the issuance of the Common Shares and the Charity Flow-Through Shares. The Offering was led by Raymond James Ltd., as sole underwriter and bookrunner (the “Underwriter”).
The net proceeds from the issuance of the Common Shares will be used to continue to advance the Madsen Gold Mine, including completing ramp-up to commercial production and pursuing growth opportunities as well as for working capital and general corporate purposes.
The 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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