West Red Lake Gold Mines Ltd V.WRLG

Favourable Gold Outlook for 2024 W/ Support @ $2,000/oz

[MarketMakerss]

Building strong support at $2,000 an ounce following record highs of $2,125 in December, gold has a favourable outlook in 2024. With this, central banks globally have significantly increased their gold purchases, indicating a strong demand, supported by the Federal Reserve's expected pivot towards rate cuts likely to further support prices.

A third factor driving gold bulls is January historically being a favourable month for gold with portfolio rebalancing. Notably, Pierre Lassonde of Franco-Nevada Mining said on BNN Bloomberg that stocks are trading as if gold is at $1,500 but this is expected to catch up in the new year. (Source: https://www.bnnbloomberg.ca/video/gold-stocks-trading-at-50-of-their-value-expect-2024-to-be-a-catchup-year-pierre-lassonde~2832858)

Located within gold's dynamic landscape, West Red Lake Gold Mines (WRLG.v WRLGF) marked the close of a transformative year with President & CEO, Shane Williams' strong year-end address highlighting the range of milestones hit by the company: https://www.thenewswire.com/press-releases/1kx7FbRdd-west-red-lake-gold-wrlgv-ceo-shane-williams-end-of-year-message-to-shareholders.html

WRLG's acquisition of the Rowan Gold Project in April 2023 forged a foothold in the Red Lake District and quickly exceeded expectations during the 2023 drill program with the highest grade intercept ever drilled across the property.

Ontario's Red Lake Gold District is host to some of the world's richest gold deposits, and has yielded over 30 million ounces of gold (and counting) from high-grade zones.

Deemed "the deal of the decade" by Jay Martin, WRLG additionally made a "first-class acquisition" of the Madsen Gold Mine, an asset previously valued at one billion dollars, for "pennies on the dollar". The Mine is debt free, fully permitted, and has a brand-new mill as well as a tailings and water treatment facility. Initial drilling at Madsen has returned high-grade intercepts with more drill results coming.

Poised for a rapid development timeline with infill and expansion drilling, underground development, engineering studies a PEA and a PFS, WRLG is focused on two main objectives heading into 2024, technical de-risking and building metal inventory through aggressive exploration, before restarting production,

Additionally, WRLG's financial backing from billionaire mining investor Frank Giustra and his team is a strong vote of confidence as they have built many successful resource companies.

Boasting a combined gold resource of 6.9M tonnes indicated at a grade of 7.4 g/t and 2.8M tonnes inferred at 9.2 g/t, WRLG is on track to become a strong player in the industry.

Posted on Behalf of West Red Lake Gold Mines Ltd.