West Red Lake Gold Mines Ltd V.WRLG

"I've never seen an acquisition this attractive" - Giustra

[MarketMakerss]

"Acquisitions like the Madsen Mine don’t happen. In my entire career I’ve never seen an acquisition this attractive. The quality of infrastructure here is absolutely perfect. Its first class. Its brand new. You couldn’t create this today with less than $700M. It would take years, probably a decade"

- Frank Giustra in 'West Red Lake Gold Mines: Developer of Choice': https://www.youtube.com/watch?v=-IJUcunmq1w&t=190s&ab_channel=WestRedLakeGoldMines

Providing evidence for gold companies being valued lower than they should be considering the increase in spot prices for gold, the HUI/Gold ratio, an indicator of gold miner performance relative to the gold price, is currently near its all-time low and substantially below its historical average of 0.29. (Source: https://twitter.com/ceodotca/status/1719712564165140555?s=46&t=WI8lw8MoN5OqPfJMCKEOqg)

With this in mind, West Red Lake Gold (WRLG.v WRLGF) presents a compelling story, having emerged as a high-potential gold opportunity with significant backing from Billionaire Mining Investor Frank Guistra.

WRLG has two high-grade projects located in the Red Lake Gold District, which has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits.

Its flagship, the Madsen Gold Mine and its associated 47km squared highly prospective land package is debt free and fully permitted with a gold resource of 6.9M tonnes indicated and 1.8M tonnes inferred as well as a brand-new 800+ tonne per day mill.

WRLG's second project in the Gold District is its wholly-owned Rowan Gold Project, located 15 km from the Madsen Mill. With an expansive property position covering 31km squared including three past-producing gold mines, Rowan, Mount Jamie and Red Summit, Rowan has a total inferred resource of 2.8M tonnes.

Recently, WRLG drilled the highest-grade intercept across the property and successfully intercepted what is believed to be the same high-grade zone approximately 80 meters down-dip.

Highlights include the intersection of 14.61 g/t Au over 1.5m including 42.62 g/t Au over 0.5m at approximately 420m vertical depth, representing an 84m down-dip extension to the previously reported 70.80 g/t Au over 8.3m.

The continuation of the mineralization at Rowan bodes well for future expansion opportunities at the company as WRLG continues to extend the highly prospective mineralized vein zone at depth and along strike

Focused on validating the historical data across the Inferred Resource and infilling apparent gaps in the analytical data set, the assay results from the 2023 drilling program continued to confirm the thesis that quartz veining and gold mineralization continue at depth and along strike, "with grades consistent with, or higher than those outlined in the current Inferred Mineral Resource which remains open in all directions”.

With additional assay results pending, WRLG has significant expansion and discovery potential in the near term as it continues to build high-grade resources in one of the richest gold districts in Canada.

For more information, check out the latest interview with WRLG CEO Shane Williams discussing the Madsen Mine and new mill, the production plan and the untapped potential of the Rowan Property: https://www.tfmetalsreport.com/podcast/12279/special-podcast-shane-williams-ceo-west-red-lake-gold

Latest News Release: https://westredlakegold.com/west-red-lake-gold-intersects-45-20-g-t-au-over-2m-12-81-g-t-au-over-2-3m-and-33-47-g-t-au-over-1-35m-at-rowan-mine/

Posted on Behalf of West Red Lake Gold Mines Ltd.