West Red Lake Gold Announces Official Restart of the Madsen Mine
May 22, 2025
Vancouver, BC
West Red Lake Gold Announces Official Restart of the
Madsen Mine
West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”)
(TSXV: WRLG) (OTCQB: WRLGF) is pleased to report that, at a meeting on May 21, 2025, the
WRLG Board of Directors approved management’s recommendation to restart the Madsen
Mine immediately.
“West Red Lake Gold acquired the Madsen Mine in June 2023 with the goal to use our team’s
deep technical experience to unlock the abundant but at the time discounted potential of
this mine, ” said Shane Williams, President and CEO. “We have pushed hard for two years to
accomplish that feat and now, with major infrastructure projects complete and our bulk
sample having delivered mined tonnes and gold grade aligned with modeled expectations,
our approach has been validated and we are ready to mine on a continual basis.
“This restart decision is a major milestone that has been achieved by systematically
derisking the technical, operating, and funding requirement s of a sustainable high -grade
gold operation at Madsen and I am very pleased to deliver this restart to all key stakeholders,
including our shareholders and neighbours. ”
For the last year, West Red Lake Gold has communicated a plan to restart the Madsen Mine
by the middle of 2025 . Restarting now delivers this milestone slightly ahead of schedule ,
positioning the mine for an exciting second half of the year. Specifically, the Company plans
to mine and process an average of 500 tonnes per day for the first two months before ramping
up operations through the second half of the year.
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
km2 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 km2 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:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
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.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute “forward -looking
information” within the meaning of applicable securities laws. Forward-looking information
generally can be identified by words such as “anticipate” , “expect” , “estimate” , “forecast” ,
“planned” , and similar expressions suggesting future outcomes or events. Forward-looking
information is based on current expectations of management; however, it is subject to known
and unknown risks, uncertainties and other factors that may cause actual results to differ
materially from the forward -looking information in this news release and include without
limitation, statements relating to the potential production of mining operations at the
Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; and
the Company’s future objectives and plans. Readers are cautioned not to place undue
reliance on forward-looking information.
Forward-looking information involve numerous risks and uncertainties and actual results
might differ materially from results suggested in any forward-looking information. These risks
and uncertainties include, among other things, market volatility; the sta te of the financial
markets for the Company’s securities; fluctuations in commodity prices; and changes in the
Company’s business plans. Forward -looking information is based on a number of key
expectations and assumptions, including without limitation, that the Company will continue
with its stated business objectives and its ability to raise additional capital to proceed.
Although management of the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward -looking
information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such forward -looking information will prove to
be accurate, as actual results and future events could differ materially from those
anticipated in such forward -looking information. Accordingly, readers should not place
undue reliance on forward-looking information. Readers are cautioned that reliance on such
information may not be appro priate for other purposes. Additional information about risks
and uncertainties is contained in the Company’s management’s discussion and analysis for
the year ended December 31, 2024, and the Company’s annual information form for the year
ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained herein is expressly qualified in its entirety by this
cautionary statement. Forward -looking information reflects management’s current beliefs
and is based on information currently available to the Company. The forw ard-looking
information is made as of the date of this news release and the Company assumes no
obligation to update or revise such information to reflect new events or circumstances,
except as may be required by applicable law.
For more information on the Company, investors should review the Company’s continuous
disclosure filings that are available on SEDAR+ at www.sedarplus.ca.
.