Austin Zone Contains Indicated Mineral Resource Of 914,200 Ounces

VANCOUVER - West Red Lake Gold Mines Ltd. reported on the Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada. Drilling has been focused on the high-grade Austin and McVeigh Zones. The Austin Zone currently contains an Indicated mineral resource of 914,200 ounces (oz) grading 6.9 grams per tonne (g/t) gold (Au), with an additional Inferred resource of 104,900 oz grading 6.5 g/t Au. The McVeigh Zone currently contains an Indicated mineral resource of 79,800 oz grading 6.4 g/t Au, with an additional Inferred resource of 14,300 oz grading 6.9 g/t Au.

The purpose of this drilling was definition within priority areas of Austin and McVeigh to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen mine, which is expected to commence in H2 2025. The Company expects to complete a pre-feasibility study in support of that restart goal in the coming months.

Shane Williams, President & CEO, stated, “The team continues to make great progress with the underground definition drill program at Madsen. We always had high expectations for the Austin Zone, which makes up the bulk of the existing resource, but to see this zone capable of producing gold grades in excess of 250 grams per tonne over meaningful widths is particularly exciting and underscores the upside that still exists within the main deposit. Additionally, the results coming out of McVeigh are quite positive. With a better understanding of the geologic model, structural controls and ore distribution in McVeigh, we are seeing renewed potential in this area.”