West Red Lake Gold Mines Ltd V.WRLG

Gold @ Record High + Sprott Invests US$2.6M Into WRLG

[MarketMakerss]

Amid gold prices hitting a record high of $2,100 and showing no signs of slowing, Sprott made an investment of US$2,631,463 into West Red Lake Gold Mines (WRLG.v WRLGF), a mineral exploration company with two high-grade gold projects boasting a combined gold resource of 6.9M tonnes indicated at a grade of 7.4 g/t and 2.8M tonnes inferred at 9/2g/t in the Red Lake District of Ontario

This investment additionally follows the closure of WRLG's brokered private placement offering for gross proceeds exceeding $15 million with the net proceeds to be used to advance WRLG's mineral properties in Ontario. Company insiders took a portion of the offering as well, emphasizing their confidence.

Madsen Mine

Deemed a 'first-class acquisition that "couldn't be created today with less than $700M" from billionaire mining investor Frank Giustra, WRLG's flagship, the Madsen Gold Mine, is debt-free and fully permitted with a brand-new 800+ tonne per day mill.

Following six months of high-grade assays from the Rowan Gold Project, the Madsen results represent a new area of high-grade mineralization extending the current Madsen resource to the northeast. The latest drill results intersected 27.15g/t Au over 10.28m and 22.31 g/t Au over 8.5m and expanded the resource northeast.

Rowan Mine

Recently, WRLG took a significant step forward in de-risking its high-grade resource following additional positive metallurgical test results from its Rowan Mine Deposit, deeming the Rowan Deposit to be a future source of high-grade, easily recoverable gold ounces that could potentially add a significant boost to the overall production profile at Madsen.

With a high-grade ore chute with a strike length of approximately 250 m that has been drilled down to a vertical depth of 490 m from surface, Rowan is well positioned in the Gold District, which is host to some of the world's richest gold deposits, and has yielded over 30 million ounces of gold (and counting) fr-m high-grade zones.

For more information, check out the latest interview with WRLG from Mining Stock Daily regarding the Madsen and Rowan Thesis: https://podcasters.spotify.com/pod/show/mining-stock-daily/episodes/West-Red-Lake-on-the-MadsenRowan-Thesis-and-Financing-for-2024-e2c6etn/a-aaks54j

Full News Release: https://westredlakegold.com/west-red-lake-gold-announces-sprotts-investment-of-us2631463/

Posted on Behalf of West Red Lake Gold Mines Ltd.

[Fotojoe1]

I like the debt free part. That's huge. Gold down big time today and WRLGF up. WRLGF is still way under valued...

[Fotojoe1]

New all time highs are forthcoming for WRLGF...