WEST Red Lake GOLD Announces Listing of Warrants

WEST RED LAKE GOLD ANNOUNCES LISTING OF WARRANTS

VANCOUVER, British Columbia, May 28, 2024 -- West Red Lake Gold Mines Ltd. (“West Red Lake

Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that

in connection with the completion of its previously announced public offering of units and charity flow -

through units, which closed on May 16, 2024 (the “Offering”), the Company has applied to list the

underlying Warrants (as defined below) on the TSX Venture Exchange (the “ TSXV”). Please see the

Company’s news release dated May 16, 2024 for details related to the closing of the Offering.

Each unit issued under the Offering was issued at a price of $0.72 and was comprised of one common

share of the Company ( a “Common Share”) and one Common Share purchase warrant, (a “Warrant”).

Each Warrant entitles the holder thereof to acquire one Common Share for an exercise price of $1.00 per

share for 24 months from the closing of the Offering.

Each charity flow-through unit was issued at a price of $0.89 and was comprised of one Common Share

and one Warrant, issued as “flow-through shares” within the meaning of the Income Tax Act (Canada).

The Company anticipates that 43,180,700 Warrants (being the aggregate number of Warrants issued

pursuant to the units and charity flow-through units) will commence trading on the TSXV on May 30, 2024

under the symbol WRLG.WT. The ISIN and CUSIP numbers of the Warrants are CA95556L1435 and

95556L143 respectively. The Warrants are governed pursuant to the terms of a warrant indenture dated

May 16, 2024 between the Company and Odyssey Trust Company as warrant agent (the “ Warrant

Indenture”). A copy of the Warrant Indentur e is available under the Company ’s profile on

www.sedarplus.ca. Listing of the Warrants remains subject to TSXV approval.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as

amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in

the United States without registration under the U.S. Securities Act and all applicable state securities laws

or compliance with the requirements of an applicable exemption therefrom. This press release shall not

constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there

be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

VP Investor Relations

Tel: (778) 829-0459

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.

Forward looking information

Certain statements contained in this news release may constitute “ forward-looking information” within the

meaning of applicable securities laws , including statement relating to the expected use of proceeds from

the Offering. 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 listing of the Warrants and TSXV approval . Readers are cautioned not to place undue reliance on

forward-looking information.

Forward-looking information involve numerous risks and uncertainties and actual results mi ght differ

materially from results suggested in any forward-looking information. These risks and uncertainties include,

among other things, risks related to legislative, regulatory and/or policy changes; market volatility; the state

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; 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 informati on. Readers are cautioned that reliance on such

information may not be appropriate for other purposes. Additional information about risks and uncertainties

is contained in the Company ’s management’s discussion and analysis for the year ended November 30,

2023, and the Company’s annual information form for the year ended November 30, 2023, 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.