WEST Red Lake GOLD Clarifies and Confirms Madsen Property Has Mineral Resources but Not Reserves
WEST RED LAKE GOLD CLARIFIES AND CONFIRMS MADSEN
PROPERTY HAS MINERAL RESOURCES BUT NOT RESERVES
VANCOUVER, British Columbia, May 10, 2024 -- West Red Lake Gold Mines Ltd. (“West
Red Lake Gold” or “WRLG” or the “C ompany”) (TSXV: WRLG) (OTCQB: WRLGF)
announced today that, as a result of a review by the British Columbia Securities Commission, the
Company is issuing the following news release to clarify certain information.
In an email circulated on behalf of the Company, certain disclosure was made regarding mineral
reserves. The Company retracts such statement s and any other disclosure that suggests the
Madsen property has mineral reserves. The Company wishes to clarify that the property has only
mineral resources (as defined under NI 43-101), as noted in its technical report titled “Independent
NI 43-101 Technical Report and Updated Mineral Resource Estimate for the Pure Gold Mine,
Canada” dated June 19, 2023, and amended April 24, 2024 (the “ Madsen Mine Technical
Report”). The Madsen Mine Technical Report is filed under the Company’s profile on SEDAR+ at
www.sedarplus.ca.
About West Red Lake Gold Mines
West Red Lake Gold Mines Ltd. is a mineral ex ploration 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
President & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Freddie Leigh
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.
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
closing of the Offering, the exercise of the over-allotment option and the expected closing date of
the Offering. 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 state of the financial markets for
the Company’s securities; fluct uations 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 fact ors that could cause actual results to differ
materially from those contained in forward-looki ng information, there may be other factors that
cause results not to be as anticipated, estimat ed or intended. There can be no assurance that
such forward-looking information will prove to be accurate, as act ual 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 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 forward-looking information is
made as of the date of this news release an d 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, investor s should review the Company’s continuous
disclosure filings that are available on SEDAR+ at www.sedarplus.ca.