West Red Lake Gold Drills 176.04 Grams per Tonne Gold at Madsen's Unmined 904 Panel

• West Red Lake Gold intersected 5.3 meters at 176.04 grams per tonne of gold, including 1 meter at 925.52 grams per tonne of gold, at the Austin 904 Complex of the Madsen Mine.
• Drilling at South Austin returned 4.5 meters at 128.32 grams per tonne of gold, including 1 meter at 566.81 grams per tonne.
• At the Austin 955 Complex, drilling intersected 6.85 meters at 35.72 grams per tonne of gold, including 1 meter at 233.76 grams per tonne of gold.
• The Austin 904 Complex is an approximately 200-by-200-meter panel of intact gold mineralization that has not been historically mined.
• The results support the feasibility of integrating the 904 & 955 complexes into the Madsen mine plan in 2027.

Company Overview

West Red Lake Gold Mines (TSXV: WRLG | OTCQX: WRLGF) is a Canadian gold producer and developer advancing a high-grade, district-scale opportunity in Ontario's Red Lake district. Its flagship Madsen Mine has recently achieved commercial production and is positioned as the central hub of a growing multi-asset platform. The company controls a 47 km² land package in a district that has historically produced over 20 million ounces of gold from high-grade systems. West Red Lake Gold also owns the 31 km² Rowan Property, which includes 3 past-producing mines (Rowan, Mount Jamie and Red Summit) and which the company identifies as a key source of future production growth.

Definition Drilling Results at Madsen

West Red Lake Gold Mines reported new assay results from underground definition drilling at its 100%-owned Madsen Mine in the Red Lake Mining District of Northwestern Ontario. The results cover the Austin 904 Complex, the Austin 955 Complex and the South Austin Zone. Intercepts reached up to 176.04 grams per tonne gold over 5.3 meters.

Visible gold was logged in the 176.04, 128.32, and 35.72 grams per tonne gold intercepts. All gold assays are reported uncapped. True thickness has not been calculated but is expected to be at least 70% of downhole length, based on intercept angles observed in the drill core.

Vice President of Exploration of West Red Lake Gold, Will Robinson, commented on the latest round of definition drilling:

"We are pleased to announce another round of impressive assay results from our ongoing underground definition drill program at Madsen. The mineralized panels within the 904 and 955 complexes are holding together quite well with strong grades, and continuity demonstrated across multiple areas. These results continue to build our confidence in the geological model and the potential for these areas to be integrated into the Madsen mine plan in 2027. Importantly, these complexes are located close to existing underground infrastructure, with the 904 complex representing non-remnant mineralization, meaning we are now advancing into fresh, previously unmined material, providing additional flexibility as we continue to define and advance mining inventory."

Austin 904 Complex: Intact Panel Returns 176.04 Grams per Tonne Gold

The Austin 904 Complex comprises an approximately 200-meter-by-200-meter panel of intact gold mineralization that has not been historically mined, which the company describes as rare for the Madsen deposit. West Red Lake Gold expects full access to the entire mineralized zone to enable larger stopes and increase efficiency during design and extraction. The 904 holes were drilled from the 13 and 14 Levels, at depths of approximately 650 meters and 700 meters, respectively.

The top intercept was 5.3 meters at 176.04 grams per tonne gold, including 1 meter at 925.52 grams per tonne gold. It contained a large visible gold-bearing clot associated with biotite alteration within a quartz-porphyry dike at 64.6 meters downhole. The other 904 holes returned 6.2 meters at 17.87 grams per tonne of gold, including 3.1 meters at 35.02 grams per tonne of gold. They also returned 1.7 meters at 24.09 grams per tonne of gold, 2.85 meters at 15.82 grams per tonne of gold, and 5.65 meters at 7.91 grams per tonne of gold. A further hole cut 2 separate intervals of 1.7 meters at 15.27 grams per tonne of gold and 2.1 meters at 11.55 grams per tonne of gold. The remaining 2 holes returned 8.75 meters at 4.12 grams per tonne of gold and 6.4 meters at 4.50 grams per tonne of gold.

These results add to previously reported 904 intercepts. On July 7, 2026, the company reported 10.22 grams per tonne gold over 13.35 meters. On April 13, 2026, it reported 215.46 grams per tonne of gold over 5.35 meters, 50.34 grams per tonne of gold over 4.05 meters, and 61.70 grams per tonne of gold over 3 meters. On February 25, 2026, it reported 219.73 grams per tonne of gold over 4.8 meters, 148.36 grams per tonne of gold over 3 meters, and 133.13 grams per tonne of gold over 2.5 meters.

Austin 955 Complex: Multiple Intervals over 10 Meters

The Austin 955 Complex holes were drilled from the 12 Level of the Madsen Mine, at approximately 600 meters. Drilling at 955 returned 6.85 meters at 35.72 grams per tonne gold, including 1 meter at 233.76 grams per tonne gold. Stringers of visible gold ran along foliation at 74 meters downhole.

At 955, 5 holes returned intervals of more than 10 meters. The first was 12.8 meters at 7.93 grams per tonne of gold, including 7.35 meters at 9.69 grams per tonne of gold and 1.15 meters at 11.35 grams per tonne of gold. The second was 11.7 meters at 8.09 grams per tonne of gold, including 1 meter at 59.96 grams per tonne of gold. The others were 11.15 meters at 7.31 grams per tonne of gold, including 2 meters at 25.75 grams per tonne of gold; 14.5 meters at 5.29 grams per tonne of gold, including 2 meters at 12.68 grams per tonne of gold; and 12 meters at 3.00 grams per tonne of gold.

Shorter intervals include 1.9 meters at 44.36 grams per tonne of gold, 1.45 meters at 22.41 grams per tonne of gold, and 2.75 meters at 13.03 grams per tonne of gold. They also include 7 meters at 5.32 grams per tonne of gold and 5.8 meters at 6.45 grams per tonne of gold. These results add to the 955 intercepts reported on July 7, 2026, with 43.48 grams per tonne of gold over 3.85 meters and 53.87 grams per tonne of gold over 3.1 meters.

South Austin: 128.32 Grams per Tonne Gold over 4.5 Meters

The top South Austin intercept was 4.5 meters at 128.32 grams per tonne gold, including 1 meter at 566.81 grams per tonne gold. It contained visible gold associated with pyrrhotite, biotite alteration, and quartz-carbonate veining, at 139.4 meters downhole.

Additional South Austin results include 4 meters at 14.34 grams per tonne gold, including 1 meter at 44.71 grams per tonne gold. A second hole returned 4.55 meters at 9.70 grams per tonne gold, including 0.75 meters at 49.13 grams per tonne gold. The remaining 2 holes returned 4 meters at 7.60 grams per tonne gold and 9.65 meters at 4.19 grams per tonne gold.

Geological Setting & Mineralization Indicators

The Austin structures are hosted within broad, kilometer-scale planar alteration and deformation corridors, like the other mineralized domains at the Madsen Mine. At deposit scale, the Austin, South Austin, North Austin and McVeigh Zones are locally folded and structurally dismembered. Amphibolite facies metamorphism led to extensive recrystallization and growth of a skarn-like diopside-amphibole-quartz-biotite replacement assemblage. All significant gold mineralization on the property is early relative to the main D2 deformation and metamorphic events.

Gold-bearing zones at Madsen are best identified visually by fine, sub-millimeter grains of free gold within strong alteration and veining. Apart from free gold, pervasive silicification and quartz-carbonate or diopside veining are the best indicators of a high-grade zone. The North Austin Zone has mineralized domains defined over a 0.5 kilometer strike length and remains open at depth and along strike to the northeast.

Resource & Reserve Base

The Madsen Mine hosts an NI 43-101 Indicated resource of 1.65 million ounces of gold grading 7.4 grams per tonne within 6.9 million tonnes. It also hosts an Inferred resource of 0.37 Moz grading 6.3 grams per tonne of gold within 1.8 million tonnes. Resources are estimated at a 3.38 grams per tonne of gold cut-off grade and a gold price of US$1,800 per ounce, and are inclusive of reserves. The mine also contains Probable reserves of 478,000 ounces of gold grading 8.16 grams per tonne within 1.87 Mt, based on a gold price of US$1,680 per ounce.

These estimates are detailed in the NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, prepared by SRK Consulting and dated April 30, 2026. The resource estimate has an effective date of December 31, 2021. Samples were assayed by SGS Natural Resources in Red Lake, Ontario, using fire assay. Samples above 100 grams per tonne gold were reanalyzed with a gravimetric finish, and samples containing visible gold were also analyzed by metallic screen. 

Next Steps

The underground drilling program at Madsen is focused on further defining the near-term mining inventory and growing the current mineral resource. Drilling has concentrated on the more continuous, higher-grade portions of the Austin and South Austin Zones, and the company is targeting the same strategy through the rest of 2026. Robinson cited the potential to integrate the 904 & 955 areas into the Madsen mine plan in 2027.

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