West Red Lake Gold Provides Madsen Mine Operations Update
Following the fatal incident at site on the morning of June 16 th, the mine and mill were both shut down. The mill restarted after approximately 40 hours. The mine restarted 12 hours after the mill, ramping up to full operations based on personnel availability and within a safety-first structure.
'With the clear exception of the tragic underground incident, ramp-up at the Madsen Mine is progressing well,' said Shane Williams, President and CEO. 'Mill head grades increased in June as we transitioned from the mixed and generally lower-grade material that had been stockpiled during the bulk sample program, which we processed in May, into freshly mined material that should be more representative of average ore grades going forward. The mill has been averaging 650 tonnes per day with 95% gold recovery and has been tested at higher levels several times without issue.
'We look forward to increasing mining rates over the coming months as ramp-up equipment arrives on site and we access additional mining areas, keeping in mind the Company's number one priority is operational safety.'
The Madsen Mine started ramp-up operations on May 11 th. Initially, mill feed was predominantly sill material that had been stockpiled during the bulk sample program, during which time only stope material was processed. Sill material is mined during level access development and is typically lower grade than stope material.
As mining ramps up, the mill head grade has increased. Milled grade has increased from approximately 3 grams per tonne gold ('g/t Au') in the first two days of June to average 6.5 g/t Au from June 12 th to 15 th as stope material increased in proportion to sill material. Material going through the mill is now generally grading at levels comparable to the Madsen mine bulk sample. Observed grade variability, including days when gold grade jumps notably, is within the expected range for a deposit of this nature.
Figure 1. Four-day average milled gold grade from May 11 th to June 15 th. Stope material started being incorporated in early June.
Mined tonnes in 2025 have primarily been drawn from South Austin and McVeigh. Mining will continue in these areas through 2025 and will also incorporate a number of priority stopes from Austin.
The mine has consistently produced 650 tonnes of ore per day. The mill was started up at 650 tonnes per day ('tpd') and has run consistently at that rate and proven capable of higher rates (Figure 2). Mill recoveries have been consistent, averaging 95% (Figure 3).
Figure 2. Average daily tonnes milled from May 11 th to June 15 th.
Figure 3. Average daily gold recovery in the mill from May 11 th to June 15 th.
The tailings and water treatment systems have been operating as planned.
The Company has sold 5,250 ounces of gold year to date, at an average price of US$3,330 per oz. Another gold pour is planned for today, Wednesday June 25 th.
The Company continues to build up its fleet of mining equipment. A R1300G Caterpillar Scoop loader arrived last week. Two additional Epiroc 42-tonne haul trucks have been ordered and are expected on site in August and September. Three Komatsu 4-yard scoops are ordered, with deliveries expected in July. Two Maclean bolters are ordered, for delivery in July and September.
Figure 4. An underground loader being delivered to the Madsen Mine on June 18 th.
The two underground drills at Madsen have completed a total of 38,393m of definition drilling in 2025, with 19,904m drilled so far in Q2. Recent drilling has been focused on expanding and further defining the high-grade lenses in South Austin previously announced on May 27 th, May 13 th and February 26 th.
The charts shown in this news release show data up to June 15 th, the day before the incident, so irregularities from the shut down and restart period are not reflected.
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
ABOUT WEST RED LAKE GOLD MINES
West Red Lake Gold Mines Ltd. is a mineral development 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:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
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.
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; 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 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 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 forward-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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/88142cba-8af1-46d2-89fa-a83308b10867
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