WEST Red Lake GOLD Announces Appointment of Hugh Agro to Board of Directors
July 27, 2023
Vancouver, BC
WEST RED LAKE GOLD ANNOUNCES APPOINTMENT OF
HUGH AGRO TO BOARD OF DIRECTORS
West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company” )
(TSXV:WRLG) (OTCQB: WRLGF) is pleased to announce the appointment of independent
director, Hugh Agro, to the Company’s board of Directors.
Mr. Agro , B.Sc., MBA, P.Eng.(non -practising) has over 3 5 years of leadership and business
experience in the mining industry. Since 2017, Mr. Agro has served as President & CEO and
Director of Revival Gold Inc., a U.S. focused gold exploration and development company. Prior to
Revival Gold Inc., Mr. Agro co -founded Carbon Arc Capital Investments Inc., a private -equity
backed investor in mining and metals and served as Executive Vice President, Strategic
Development with Kinross Gold Corporation. At Kinross, Mr. Agro was a member of the Executive
Leadership Team and responsible for strategic and operational leadership of Kinross’ growth
initiatives including corporate development, global exploration and commercial activities in
Russia. Previously, Mr. Agro held senior executive positions with Placer Dome and in investment
banking with Deutsche Bank’s Global Metals and Mining Group. Mr. Agro has served on the Board
and Audit Committees of Victoria Gold Corp., Chantrell Ventures and Americas Silver Corp. and
currently serves as a Director of Fort Berens Estate Winery Ltd., an award-winning winery located
in British Columbia, Canada. Mr. Agro holds a Bachelor of Science in Mining Engineering from
Queen’s University (1989) and MBA Finance from UBC & London Business School (1997).
The appointment of Mr. Agro follows the resignation of Mr. Rob van Egmond from its Board of
Directors effective 26, 2023. The Company would like to thank Mr. van Egmond for his
contributions to the Company’s success to date.
Shane Williams, President and CEO comments, “We are delighted to welcome Hugh Agro to the
West Red Lake Gold team. His qualifications and skillset expand the Board's expertise as he brings
a wealth of experience in executive leadership, strategy, technical expertise and finance. He will
be a significant contributor to the expansion and development of West Red Lake Gold’s future.”
The Company has granted 400,000 stock options to Mr. Agro, which vest over a three year period
with 25% vesting in 3 months from the grant date and 25% vesting on the first, second and third
anniversary of the grant date at an exercise price of $0.69 and will be exercisable for a 5 year
period expiring July 26, 2028.
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In addition, 100,000 DSUs have been granted to Mr. Agro which will vest on the first anniversary
of the grant date of July 26, 2023.
Further to its news release of July 6, 2023, the Company is pleased to announce that due to excess
demand, it has increased its non-brokered f low-through private placement financing to
$7,000,000 by the issuance of up to 10,000,000 flow -through shares at $0.70 per flow -through
share (the “Offering”). The Offering is subject to TSXV approval. The Company intends to use
the proceeds from the Offering for the exploration and advancement of its properties in Red
Lake, Ontario.
ABOUT WEST RED LAKE GOLD MINES
West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and
focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 Km 2
highly prospective land package in the Red Lake district of Ontario. The highly productive Red
Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from
high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly
owned Rowan Property in Red Lake, with an expansive property position covering 31 Km 2
including three past producing gold mines - Rowan, Mount Jamie and Red Summit.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: [email protected] or visit the Company’s website at
https://www.westredlakegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements contained in this news release constitute "forward -looking statements".
When used in this document, the words "anticipated", "expect", "estimated", "forecast",
"planned", and similar expressions are intended to identify forward- looking statements or
information. These statements are based on current expectations of management, however, they
are subject to known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from the forward-looking statements in this news release. Readers are
cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does
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not undertake any obligation to revise or update any forward- looking statements as a result of
new information, future events or otherwise after the date hereof, except as required by securities
laws.