West Red Lake Gold Establishes Initial Shaft Hoisting Capacity at Madsen Mine

• West Red Lake Gold Mines Ltd. has completed Phase One of the phased refurbishment of the Madsen Mine Shaft in the Red Lake Mining District of Ontario, establishing initial hoisting capability of approximately 200 tonnes per day.
• Phase Two is targeted for the second half of 2027, with hoist and skip upgrades targeting a hoisting capacity of approximately 700 tonnes per day. Phase Three is targeted for the second half of 2028, aiming for a steady-state production shaft configuration of approximately 2,000 tonnes per day, which the company states represents the Shaft's historical design capacity.
• Phase One and Phase Two provide hoisting capability to Level 10 at approximately 500 meters depth, supporting active mining complexes in the Austin and South Austin zones. Phase Three is targeted to support material haulage from deeper levels of the Mine, potentially to Level 17.
• All major equipment required for Phase Two of the Shaft refurbishment is now on site, with installation and associated upgrade work underway.
• The Shaft previously served as the Mine's primary material haulage system for approximately 5 decades, providing access to mining operations as deep as Level 26, which is the bottom of the Shaft. The refurbishment is targeted to restore the Shaft to its historical design capacity of approximately 2,000 tonnes per day.

Company Overview

West Red Lake Gold Mines Ltd. (TSXV: WRLG | OTCQX: WRLGF) is a Canadian gold producer and developer advancing a high-grade, district-scale opportunity in Ontario's Red Lake district. The company's flagship Madsen Mine achieved commercial production in 2025 and is positioned as the central processing hub for a growing multi-asset platform across a47-square-kilometere land package in the Red Lake district, which has historically produced over 20 million ounces of gold. West Red Lake Gold also owns the Rowan Property in Red Lake, covering 31 square kilometers and including three past-producing mines, Rowan, Mount Jamie, and Red Summit, representing a key source of future production growth.

Phase One Completion

West Red Lake Gold Mines Ltd. has completed Phase One of the phased refurbishment of the Madsen Mine Shaft, demonstrating the ability to safely hoist gold ore and waste material via the existing shaft at an initial capacity of approximately 200 tonnes per day. All major equipment required for Phase Two is now on site, with installation and associated upgrade work underway.

The Shaft previously served as the Mine's primary material haulage system for approximately 5 decades, providing access to mining operations as deep as Level 26, the bottom of the Shaft. The refurbishment program is designed to restore the Shaft to its historical design capacity of approximately 2,000 tonnes per day. Phase One and Phase Two provide hoisting capability to Level 10 at approximately 500 meters depth, supporting active mining complexes in the Austin and South Austin zones.

President and Chief Executive Officer of West Red Lake Gold Mines Ltd., Shane Williams, commented: 

"The phased refurbishment of the Madsen Shaft represents an important investment in the long-term growth of the Mine. As mining advances to deeper levels, the Shaft will complement underground truck haulage by providing an additional means of moving ore and waste to the surface at much lower costs, reducing haulage distances, and improving operational flexibility. While underground trucks will continue to play an important role throughout the Mine, the Shaft is expected to improve operating efficiency and contribute to lower operating costs and all-in sustaining costs over time."

Phase Two & Phase Three Targets

Phase Two of the Shaft refurbishment, targeted for the second half of 2027, will include hoist and skip upgrades targeting a hoisting capacity of approximately 700 tonnes per day. Phase Three, targeted for the second half of 2028, will target the steady-state production shaft configuration of approximately 2,000 tonnes per day, supporting long-term mining from deeper levels of the Mine. Phase Three is targeted to support material haulage potentially as deep as Level 17.

The phased approach is designed to allow the Company to progressively commission the Shaft while continuing to invest in the infrastructure required to unlock its full long-term capacity. Planned work in subsequent phases includes upgrades to the hoisting system to maximize the Shaft's long-term efficiency, reliability, and capacity.

Next Steps

All major equipment for Phase Two is on site with installation underway. Phase Two is targeted for completion in the second half of 2027, and Phase Three in the second half of 2028. The phased approach is designed to allow the Company to progressively commission the Shaft while continuing to invest in further infrastructure upgrades.

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