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Vancouver, BC – TheNewswire - July 10, 2025 – Global Stocks News - Sponsored content disseminated on behalf of West Red Lake Gold. On July 8, 2025, West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) published the results of a Preliminary Economic Assessment (PEA) at its 100%-owned Rowan project in the Red Lake Gold District of northwestern Ontario, Canada.

The Rowan Project is 80 kilometers by road from the operating Madsen Mine and mill.

“Rowan is a high-grade, relatively wide, nearly vertical deposit that starts at surface, and this PEA captures how such designed-for-mining characteristics lead to strong economics,& confirmed Shane Williams, WRLG President and CEO, in the July 8, 2025 press release.

Rowan Select PEA Highlights:

• High-Grade Efficient Mine: Average diluted head grade of 8.0 grams per tonne.

• Notable Production: 35,230 oz. average annual gold production over the 5-year mine life from an average mining rate of 385 tonnes per day.

• Strong Value: Post-tax NPV rises to $239M at US$3,250 per oz gold.

• Low Costs: US$1,408/oz all-in sustaining cost (AISC).

• Strong Returns: IRR of 81.7% at a US$3,250/oz gold price.

• High Confidence Inventory: PEA mine design includes 63% of mined tonnes and 72% of mined ounces from the Indicated category.

• Simple Metallurgy: Free gold-dominant mineralization resulting in 75.8% to 94.9% gold recovery through gravity processing.

• Modest Initial Capital: Opportunity to develop Rowan as a toll milling operation with initial capital of just over $70 million.

Multiple mills in the Red Lake area have excess capacity and are designed to process mineralization of similar nature to the deposit at Rowan. West Red Lake Gold is planning Rowan as a mine that sends its material to another mill for processing. The toll milling plan eliminates the need for a mill and an on-site tailings facility at Rowan.

Madsen is one mill in the region that could potentially take Rowan mineralization. The Madsen Mill has a nameplate capacity at 1,089 tonnes per day (tpd), and is currently permitted to run at 800 tpd average annually. It ran as high as 1,200 tpd in 2022, under the prior operator.

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Further PEA Highlights:

Development and Permitting Timeline: WRLG plans to complete a Pre-Feasibility Study (PFS) on the Rowan Project by Q3 2026. New Bill 5 legislation in Ontario aims to expedite the mine approval process.

Significant Exploration and Growth Potential: There are multiple opportunities to define additional mineralization at Rowan by:

• Expansion drilling on the two main veins of the deposit included in this PEA mine plan (v001 and v004), especially at depth.

• Infill and expansion drilling on parallel veins adjacent to the PEA mine plan, with data gaps stemming from selective historic drill sampling.

• Drill testing expansion targets along strike from the Rowan vein system.

• Testing high-potential new targets at the property, including Apex and Big Bend.

“There is ample opportunity to grow the resource further at Rowan along strike, at depth, and via discovery at new nearby targets, but we ideally want to do that work while turning this asset into a mine sending high-grade mineralization to an operating mill in the area and potentially generating significant revenue for the Company,& stated Williams.

During the 2023 drill campaign, West Red Lake Gold demonstrated that gold mineralization regularly persists into the altered wall rock adjacent to high-grade gold veins. Historic operators only sampled the parts of the drill core that appeared mineralized. This selective sampling would have missed visually subtle mineralization. It is likely that ‘halo& mineralization of this nature could add enough scale to parallel veins to pull those areas into mine planning consideration.

The next layer of opportunity at Rowan is based on expanding the deposit. The 2023 drill campaign included hole RLG-23-163B, which returned 70.8 g/t gold over 8.3 metres.

This intercept indicates potential for mineralization to continue, and perhaps strengthen, at depth. The Rowan vein system has only been defined down to approximately 400 metres and remains wide open for expansion at depth (Figure 2). The Rowan deposit also remains open along strike to the east and west.

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Figure 2. Long section of Rowan block model at 1 gpt Au cutoff showing PEA mine design (blue) and outline of areas planned for long hole stoping (red outline). Notable assay intercepts have been highlighted to indicate the strength of gold mineralization and expansion potential at depth.

“A NPV of $239 million at close-to-spot gold pricing provides a compelling case to advance Rowan swiftly from here,& stated Williams. “We plan to advance engineering work while completing a drill program to infill gaps that prevented parts of the resource from being considered in the mine plan and upgrade roughly 37% of the mine plan tonnes that currently sits within the inferred resource category.&

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The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

In 2023, there were seven WRLG PRs related to Rowan:

June 21, 2023: West Red Lake Gold Intersects 113.74 g/t Au Over 0.5m, 104.98 g/t Au Over 0.4m and 74.36 g/t Au Over 0.5m at Rowan Mine
August 1, 2023: West Red Lake Gold Intersects 50.52 g/t Au Over 4.0m, 15.40 g/t Au over 4.2m and 10.41 g/t Au over 4.2m at Rowan Mine
August 29, 2023: West Red Lake Gold Intersects 66.66 g/t Au Over 2.0m, 21.84 g/t Au over 3.11m and 6.27 g/t Au over 10.1m at Rowan Mine
September 12, 2023: West Red Lake Gold Drills 70.80 g/t Au over 8.3 m including 1,120.19 g/t Au over 0.5 m at Rowan Property
October 11, 2023: 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
November 9, 2023: West Red Lake Gold Intersects 10.92 g/t Au over 2.4m, 11.07 g/t Au over 2.15m and 38.15 g/t Au over 0.5m at Rowan Mine
November 15, 2023: West Red Lake Gold Announces Positive Metallurgical Test Results from Rowan Mine Deposit

In 2024, there were four WLRG PRs related to Rowan:

January 17, 2024: West Red Lake Gold Reports Final 2023 Drill Results from Rowan and Highlights 2023 Exploration Achievements
April 26, 2024: West Red Lake Gold Announces Mineral Resource Update for the Rowan Mine Deposit
April 29, 2024: West Red Lake Gold Outlines 2024 Regional Exploration Strategy for Madsen and Rowan

In 2025, prior to the July 8, 2025 press release, there was one WRLG Rowan PR:

April 15, 2025: West Red Lake Gold Highlights New Exploration Targets at Rowan Property

For the last 18 months, WRLG has been focused on putting the Madsen Mine back in production. The July 8, 2025 Rowan PEA announcement, and page 19 of WRLG&s current deck confirm that Rowan remains an important part of the West Red Lake Gold master plan.

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On June 25, 2025, West Red Lake Gold Mines provided an update on ramp-up operations at the Madsen Mine in Red Lake, Ontario.

In the video below, Gwen Preston, VP of Investor Relations, provides context for the June 25, 2025, mine ramp-up press release.

“We started operating on the 11th of May. For the first three weeks, mill feed came from various stockpiles that had been established during the bulk sample program,& explained Preston in the video.

“The purpose of the bulk sample program was to compare what we modelled with what we mined for six specific stopes. To stick to the goals of that program, during bulk sampling, only stope material was sent into the mill.&

“Sill material, which comes from mining above and below each stope to provide access for the mining, was stockpiled. That's what we fed into the mill during May.&

“Mines do generally process sill material because it is generally mineralized, but it's usually mixed with stope material. Processing only sills for a few weeks meant that the gold grade going into the mill was more varied and lower grade than what we expect to see in regular operations.&

“In June, we started increasingly mixing freshly mined stope material with what was left of those sill stockpiles. As you can see, the grade rose nicely.&

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“We're now seeing grades going into the mill that are in line with what we saw during the bulk sample,& continued Preston. “Mining and milling rates have been consistent at 650 tons per day. The mill is recovering 95% of the gold in the rocks on average, which is just what we expect.&

“We have poured 5,250 ounces of gold so far this year. It's actually a bit more, because we had a gold pour yesterday afternoon. Those 5,250 ounces were sold at an average price of USD $3,330.&

“Ramp-up of a mine requires focused attention,& concluded Preston. “Every detail that could create, or is creating, friction is noticed and remedied. Our goal over the coming months is to continue that focus, so we can provide more successful ramp-up updates like this one.&

WRLG continues to build up its fleet of mining equipment. A R1300G Caterpillar Scoop loader arrived two weeks ago. Two additional Epiroc 42-tonne haul trucks have been ordered and are expected on site in August and September. Three Komatsu 4-yard scoops are ordered, with deliveries expected in July.

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Above: an underground loader being delivered to the Madsen Mine on June 18th, 2025.

On June 3, 2025, WRLG extrapolated from lessons learned from the mining and bulk sample program at its 100% owned Madsen Mine.

“The PFS mine plan, which was based on $1,680/oz gold, generated strong economics that supported the restart decision,& stated WRLG. “However, using a higher gold price in stope design effectively lowers the cutoff grade for resource inclusion, bringing additional resource tonnes into the mine plan, producing more overall ounces.&

“When lower-grade tonnes prove to be economic, it can result in larger stopes encompassing one or several high-grade gold lenses with surrounding halo mineralization,& added WRLG.

Recent drill results at South Austin have revealed high-grade lenses that went largely unnoticed when drill holes were still widely spaced, 20 meters apart.

“As the gold price rises, more of the gold-bearing rock becomes economically viable,& Maurice Mostert, Vice President Technical Services, told GSN. “We don't have to be as selective. Larger stopes typically translate to an increase in tonnage and contained ounces, and lead to lower mining costs.&

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The mine plan in the Madsen Mine Pre-Feasibility Study (PFS) [1] used a gold price of US$1,680 per oz – about 50% of the current gold price. This led to a mine plan with 60% of the mining being small, high-grade stopes requiring the use of cut-and-fill mining, which is selective and relatively high cost. [2]

For its current mine design, West Red Lake Gold is using the “consensus long-term price& of US$2,350 per ounce – a conservative number about $1,000 per ounce below the current gold price.

The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for technical disclosure at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects&.

Contact: guy.bennett@globalstocksnews.com

Disclaimer: West Red Lake Gold paid Global Stocks News (GSN) $1,750 for the research, writing and dissemination of this content.

Full Disclaimer: GSN researches and fact-checks diligently, but we cannot ensure our publications are free from error. Investing in publicly traded stocks is speculative and carries a high degree of risk. GSN publications may contain forward-looking statements such as “project,& “anticipate,& “expect,& which are based on reasonable expectations, but these statements are imperfect predictors of future events. When compensation has been paid to GSN, the amount and nature of the compensation will be disclosed clearly.

References:

1. Please refer to the technical report entitled “NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada&, prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company&s website and on SEDAR+ at www.sedarplus.ca.

2. See PFS Section 16.5.3 Mining Methods – Underground Mining Methods – Planned Mining Methods.

Additional References:

3. See PFS Report Section 21.3.2 Capital and Operating Costs – Operating Cost Estimates – Mining.

4. Mineral reserve estimates based on a gold price of US$1,680/oz and an exchange rate of 1.31 C$/US$. Longhole stope cut-off grade of 4.30 gpt Au based on an estimated operating cost of C$287.34/t including mining, plant and G&A. Mechanized Cut and Fill stope cut-off grade of 5.28 gpt Au based on an estimated operating cost of C$354.90/t including mining, plant and G&A. Incremental development cut-off grade of 1 gpt Au. A small amount of incremental longhole tonnes were included at a cut-off grade of not less than 3.4 gpt Au, these must be immediately adjacent to economic stopes that will pay for the capital to access area.

5. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources are not considered mineral reserves as they have not demonstrated economic viability.

6. See Section 24.1 Other Relevant Data – Gold Price Sensitivity.

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