WEST Red Lake GOLD Mines Ltd. Signs Definitive Agreement FOR Madsen GOLD Project
WEST RED LAKE GOLD MINES LTD. SIGNS
DEFINITIVE AGREEMENT FOR MADSEN GOLD PROJECT
May 18, 2023
Vancouver, British Columbia – West Red Lake Gold Mines Ltd. (“West Red Lake” or “WRLG”) (TSXV:
WRLG) (OTCQB: WRLGF) is pleased to announce that further to its news release dated April 17, 2023 it has
entered into the Definitive Share Purchase Agreement with Pure Gold Mining Inc. (“ Pure Gold”), and a fund
managed by Sprott Resource Lending Corp. in respect of the acquisition of the Madsen Gold Project through the
acquisition of all of the issued and outstanding shares of Pure Gold (the “Acquisition”). Details of the Acquisition
and the Madsen Gold Project can be found in the Company’s April 17, 2023 news release, which is available on
SEDAR.
Closing of the Acquisition is subject to various conditions precedent including receipt of all required regulatory
approvals, including the approval of the TSX Venture Exchange, and receipt of the reverse vesting order from the
Supreme Court of British Col umbia in Pure Gold’s ongoing proceedings pursuant to the Companies Creditors
Arrangement Act. The court hearing for approval for the sale of Pure Gold is set for May 29, 2023.
ABOUT WEST RED LAKE GOLD MINES LTD.
West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and dedicated to creating
value for its shareholders by discovering new gold mines in the highly productive Red Lake Gold District of
Northwest Ontario, Canada. This district has yielded 30 million ounces of gold from high-grade zones and hosts
some of the world's richest gold deposits. WRLG holds an expansive property position spanning 3,100 ha in Red
Lake, the Rowan Project, including three former gold mines - Rowan, Mount Jamie, and Red Summit. The Rowan
Project covers a 12 -km strike length along the Pipestone Bay St. Paul Deformation Zone and WRLG plans to
continue exploring this property along strike and to depth aggressively in 2023.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Tom Meredith”
Tom Meredith
Chief Executive Officer
For further information, please contact:
Jasvir Kaloti
CFO & Corporate Secretary
Tel: (604) 609-6110
Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: [email protected]
or visit the Company’s website at https://www.westredlakegold.com
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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.
The TSX Venture Exchange has neither approved nor disapprove d the contents of this news 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 i ntended 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 m aterially 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 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.