West Red Lake Gold Reports High-Grade Results from Austin 955 and 904 Complexes at Madsen Mine, Including 53.87 Grams Per Tonne Gold Over 3.1 Metres

• West Red Lake Gold reported high-grade drill results from the Austin 955 Complex, including 53.87 grams per tonne gold over 3.1 metres and 43.38 grams per tonne gold over 3.85 metres from underground drilling at the Madsen Mine.
• Drilling at the Austin 904 Complex returned broad, high-grade intercepts including 10.22 grams per tonne gold over 13.35 metres, 11.98 grams per tonne gold over 10.2 metres, and 24.22 grams per tonne gold over 4.6 metres.
• The Austin 904 Complex comprises an approximately 200-metre-by-200-metre panel of intact, unmined mineralisation that the company believes could support larger stopes and improve mining efficiency.
• Underground decline development is advancing to provide new drill access at depth, with the company targeting inclusion of the Austin 904 Complex in its first-half 2027 mine plan.
• The Madsen Mine hosts indicated resources of 1.65 million ounces grading 7.4 grams per tonne gold and Probable reserves of 478,000 ounces grading 8.16 grams per tonne gold, supporting ongoing resource expansion and mine development activities.

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 a 47-square-kilometre 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 kilometres and including 3 past producing mines, Rowan, Mount Jamie and Red Summit, representing a key source of future production growth.

Austin 955 Complex Results

West Red Lake Gold Mines Ltd. has reported drill results from definition and exploration drilling at the Austin 955 Complex, conducted from the 12 Level of the Madsen Mine at a depth of approximately 600 metres. Highlights include 53.87 grams per tonne gold over 3.1 metres, including 322.89 grams per tonne gold over 0.5 metres; 43.38 grams per tonne gold over 3.85 metres, including 291.94 grams per tonne gold over 0.5 metres; 24.03 grams per tonne gold over 5.25 metres, including 228.84 grams per tonne gold over 0.5 metres; 20.17 grams per tonne gold over 5.9 metres, including 195.97 grams per tonne gold over 0.5 metres; and 15 metres at 6.93 grams per tonne gold, including 103.89 grams per tonne gold over 0.5 metres. 

True thickness for all intercepts is expected to be at least 70% of the downhole length. Multiple intercepts returned notable occurrences of visible gold, spatially associated with quartz-carbonate veining, strong silicification and pyrite mineralisation.

Vice President of Exploration at West Red Lake Gold Mines Ltd., Will Robinson, commented: 

"Definition drilling at Madsen continues to intercept significant gold mineralisation within the 904 Complex. We are currently advancing laterally across the upper portions of this panel, and we look forward to testing this area at depth over the coming months as underground decline development opens new drill access. Our ultimate objective at the 904 Complex is to define a broad panel of non-remnant mineralisation, positioning it to be sequenced into our H1 2027 mine plan. The technical team remains well on schedule to deliver on that target. While we advance the 904 Complex, we are also capitalising on high-value opportunities elsewhere in the deposit made available by ongoing development. A prime case in point is the shallower Austin 955 area, which has recently returned a number of impressive results and notable showings of visible gold highlighted in this update."

Austin 904 Complex Results

The Austin 904 Complex represents an approximately 200-metre-by-200-metre panel of intact, unmined gold mineralisation, which the company states is expected to yield larger stopes and greater efficiency during design and extraction. All results were drilled from the 13 Level of the Madsen Mine at approximately 650 metres depth, in addition to those announced on April 13, 2026, which included 215.46 grams per tonne gold over 5.35 metres, and on February 25, 2026, which included 219.73 grams per tonne gold over 4.8 metres.

Highlights from the current release include 10.22 grams per tonne gold over 13.35 metres, including 69.85 grams per tonne gold over 1.1 metres; 11.98 grams per tonne gold over 10.2 metres, including 53.99 grams per tonne gold over 1.1 metres; 24.22 grams per tonne gold over 4.6 metres, including 180.67 grams per tonne gold over 0.5 metres; and 21.56 grams per tonne gold over 4.8 metres, including 144.56 grams per tonne gold over 0.5 metres.

Mineral Resource & Geological Context

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, and an Inferred resource of 0.37 million ounces of gold grading 6.3 grams per tonne within 1.8 million tonnes, at a cut-off grade of 3.38 grams per tonne gold and a gold price of US$1,800 per ounce, per the NI 43-101 Technical Report and Prefeasibility Study (PFS) for the Madsen Mine dated April 30, 2026 prepared by SRK Consulting (Canada) Inc. The Madsen Mine also contains Probable reserves of 478,000 ounces of gold grading 8.16 grams per tonne within 1.87 million tonnes, based on a gold price of US$1,680 per ounce, per the Madsen Report.

The Austin structures are hosted within broad, kilometre-scale planar alteration and deformation corridors. The North Austin Zone displays mine-style alteration and mineralisation over a strike length of 0.5 kilometres, with mineralisation remaining open at depth and to the northeast along strike. The current underground drilling program at Madsen is focused on further defining the near-term mining inventory and expanding the current mineral resource, with drilling targeting the more continuous, higher-grade portions of the Austin and South Austin Zones.

Next Steps

Definition drilling at the Austin 904 Complex is continuing, with underground decline development targeted to open new drill access at depth over the coming months. The Company's objective at the 904 Complex is to define a broad panel of non-remnant mineralisation to be sequenced into its first half 2027 mine plan. The current underground drilling strategy, focusing on the Austin and South Austin Zones, is expected to continue through 2026.

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