West Red Lake Gold Expands High-Grade Zone in South Austin with 36.85 g/t Au over 6.9m, 92.39 g/t Au over 2m and 8.79 g/t Au over 15.5m
'The high-grade panel of gold mineralization the team is currently defining and expanding in South Austin has been delivering exceptional grades and thicknesses,' said Shane Williams, President & CEO. 'Archaean lode-gold vein systems like Madsen are well known for having pockets of mineralization that are often discrete, very high-grade and require tight-spaced drilling to properly define. The success we are having in South Austin with the underground definition program underscores the importance of getting the drills deeper in the system and into high priority areas of the deposit so that additional high-grade pockets and lenses can be discovered, drilled off and integrated into the mine plan.'
The drill results featured in this news release are focused on the high-grade South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces ('oz') grading 8.7 grams per tonne ('g/t') gold ('Au'), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.
These results further expand on the high-grade panel of gold mineralization within South Austin, which has been a key focus of definition drilling in 2025 (Figure 1). The results highlighted from drill bay 09-4300 have increased confidence in the eastern portion of the lens, while drilling from the 11-4420 drill station has helped to validate the lens down plunge to the east. Additional results from this area were previously announced on May 27, 2025, where drilling returned 61.51 g/t Au over 12.1m, 43.54 g/t Au over 8.35m and 24.61 g/t Au over 11.2m and on February 26, 2025, where drilling returned 114.26 g/t Au over 10.6m, 77.90 g/t Au over 3m and 24.48 g/t Au over 8.5m.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ddd594a-c830-48be-a008-32837eacbda3
FIGURE 1. Long section highlighting Top Three intercepts announced in 2025 from infill drilling stations in South Austin Zone, including top three highlights from current press release. New South Austin high-grade panel has been outlined in red[1].
[1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company's website and on SEDAR+ at www.sedarplus.ca.
SOUTH AUSTIN ZONE HIGHLIGHTS:
Hole MM25D-11-4420-024 Intersected 6.9m @ 36.85 g/t Au, from 79.1m to 86.0m, Including 0.6m @ 12.17 g/t Au, from 79.1m to 79.7m, Also including 3m @ 81.23 g/t Au, from 82m to 85m. This high-grade intercept was complimented by visible gold spatially associated with quartz-carbonate veinlets (Figure 2).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b5192a01-cad8-45a0-b5e1-1e23e8fb516e
Figure 2. Visible gold showings in hole MM25D-11-4420-024.
Hole MM25D-11-4420-009 Intersected 2m @ 92.39 g/t Au, from 80.3m to 82.3m, Including 1m @ 183.79 g/t Au, from 81.3m to 82.3m. This high-grade intercept was complimented by visible gold hosted within an early, recrystallized blue-grey quartz vein (Figure 3).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c4a38dc-3a71-49da-bbef-753c8423f338
Figure 3. Visible gold showings in hole MM25D-11-4420-009.
Hole MM25D-09-4300-002 Intersected 15.45m @ 8.79 g/t Au, from 61.05m to 76.50m, Including 5.8m @ 18.57 g/t Au, from 69.0m to 74.8m.
Hole MM25D-11-4420-026 Intersected 6.75m @ 17.31 g/t Au, from 84.25m to 91.00m, Including 1m @ 104.87 g/t Au, from 84.25m to 85.25m. This high-grade intercept was complimented by visible gold hosted within a deformed quartz veinlet (Figure 4).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80a9d9ef-a6ec-4510-b997-88107e9aaf9a
Figure 4. Visible gold showings in hole MM25D-11-4420-026.
Hole MM25D-11-4420-019 Intersected 6.3m @ 18.28 g/t Au, from 90.7m to 97.0m, Including 1m @ 32.29 g/t Au, from 90.7m to 91.7m. This high-grade intercept was complimented by visible gold hosted within a blue-grey quartz vein (Figure 5).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/572ba2d0-a4ae-45bb-9336-aa38f9603790
Figure 5. Visible gold showings in hole MM25D-11-4420-019.
Hole MM25D-11-4420-027 Intersected 5m @ 21.91 g/t Au, from 76m to 81m, Including 1m @ 98.82 g/t Au, from 79m to 80m.
Hole MM25D-11-4420-028 Intersected 2.2m @ 42.6 g/t Au, from 78.95m to 81.15m, Including 1.2m @ 77.23 g/t Au, from 79.45m to 80.65m.
Hole MM25D-09-4300-009 Intersected 3.25m @ 16.61 g/t Au, from 67.80m to 71.05m, Including 1.8m @ 24.27 g/t Au, from 67.8m to 69.6m.
Hole MM25D-09-4300-003 Intersected 3.25m @ 16.03 g/t Au, from 60.75m to 64.00m. This high-grade intercept was complimented by visible gold hosted within quartz veining and quart-carbonate breccia (Figure 6).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23a2a54e-b737-4992-a798-3363912a6d71
Figure 6. Visible gold showings in hole MM25D-09-4300-003.
Visible gold was also observed in holes MM25D-11-4420-031 and -033 within significant intercepts as outlined below in Table 1.
TABLE 1. Significant intercepts (>3 g/t Au) from drilling at South Austin Zone.
Hole ID
Target
From (m)
To (m)
Length (m)*
Au (g/t)
MM25D-09-4300-001
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-002
South Austin
54.75
55.30
0.55
8.80
AND
South Austin
61.05
76.50
15.45
8.79
Incl.
69.00
74.80
5.80
18.57
MM25D-09-4300-003
South Austin
60.75
64.00
3.25
16.03
AND
South Austin
65.00
69.00
4.00
4.25
AND
72.00
73.00
1.00
3.70
AND
South Austin
84.00
85.00
1.00
3.27
MM25D-09-4300-004
South Austin
80.00
84.50
4.50
5.73
Incl.
80.00
81.00
1.00
10.34
MM25D-09-4300-005
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-006
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-007
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-008
South Austin
84.10
90.16
6.06
3.89
Incl.
87.00
88.00
1.00
10.70
MM25D-09-4300-009
South Austin
55.00
58.20
3.20
4.38
Incl.
55.00
56.00
1.00
10.68
AND
South Austin
67.80
71.05
3.25
16.61
Incl.
67.80
69.60
1.80
24.27
MM25D-09-4300-010
South Austin
50.70
51.70
1.00
5.29
MM25D-09-4300-011
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-012
South Austin
91.00
91.50
0.50
12.63
MM25D-09-4300-013
South Austin
No Assays > 3 g/t Au
MM25D-09-4300-014
South Austin
64.00
66.00
2.00
3.01
MM25D-11-4420-001
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-002
South Austin
72.00
75.00
3.00
11.57
Incl.
74.00
75.00
1.00
27.88
AND
South Austin
107.00
108.00
1.00
6.13
MM25D-11-4420-003
South Austin
85.00
86.00
1.00
40.75
MM25D-11-4420-004
South Austin
103.80
104.80
1.00
12.85
MM25D-11-4420-005
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-006
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-007
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-008
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-009
South Austin
80.30
82.30
2.00
92.39
Incl.
81.30
82.30
1.00
183.79
MM25D-11-4420-010
South Austin
97.00
98.00
1.00
4.72
MM25D-11-4420-011
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-012
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-013
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-014
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-015
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-016
South Austin
48.00
48.80
0.80
4.75
MM25D-11-4420-017
South Austin
77.00
82.00
5.00
4.34
Incl.
81.00
82.00
1.00
18.31
AND
South Austin
98.10
98.60
0.50
4.74
MM25D-11-4420-018
South Austin
66.00
69.00
3.00
8.05
Incl.
66.00
67.00
1.00
10.96
Also Incl.
68.00
69.00
1.00
12.30
AND
South Austin
92.00
96.50
4.50
9.58
Incl.
92.00
92.60
0.60
12.11
Also Incl.
93.90
95.50
1.60
19.09
MM25D-11-4420-019
South Austin
66.00
70.00
4.00
12.28
Incl.
68.00
70.00
2.00
22.11
AND
South Austin
90.70
97.00
6.30
18.28
Incl.
90.70
91.70
1.00
32.29
Also Incl.
92.70
95.00
2.30
27.49
Also Incl.
95.50
96.25
0.75
20.44
MM25D-11-4420-020
South Austin
71.00
72.00
1.00
3.36
MM25D-11-4420-021
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-022
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-023
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-024
South Austin
73.00
75.00
2.00
4.47
AND
South Austin
79.10
86.00
6.90
36.85
Incl.
79.10
79.70
0.60
12.17
Also Incl.
82.00
85.00
3.00
81.23
AND
South Austin
93.80
98.25
4.45
9.19
Incl.
94.80
95.80
1.00
19.09
Also Incl.
97.50
98.25
0.75
15.69
MM25D-11-4420-025
South Austin
65.65
67.00
1.35
3.03
AND
South Austin
71.00
72.00
1.00
9.70
AND
South Austin
88.00
88.95
0.95
3.05
AND
South Austin
89.65
97.20
7.55
3.29
Incl.
89.65
91.25
1.60
21.17
Also Incl.
93.00
94.10
1.10
15.85
MM25D-11-4420-026
South Austin
84.25
91.00
6.75
17.31
Incl.
84.25
85.25
1.00
104.87
MM25D-11-4420-027
South Austin
76.00
81.00
5.00
21.91
Incl.
79.00
80.00
1.00
98.82
AND
South Austin
92.25
94.25
2.00
6.31
AND
South Austin
96.20
98.45
2.25
28.57
Incl.
96.20
97.40
1.20
52.42
MM25D-11-4420-028
South Austin
78.95
81.15
2.20
42.60
Incl.
79.45
80.65
1.20
77.23
MM25D-11-4420-029
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-030
South Austin
No Assays > 3 g/t Au
MM25D-11-4420-031
South Austin
75.60
77.30
1.70
6.77
AND
South Austin
78.30
78.80
0.50
10.19
AND
South Austin
79.80
81.50
1.70
17.92
Incl.
79.80
80.50
0.70
37.94
MM25D-11-4420-032
South Austin
68.70
72.00
3.30
4.32
AND
South Austin
92.00
96.00
4.00
3.60
MM25D-11-4420-033
South Austin
72.40
73.00
0.60
45.90
AND
South Austin
86.00
88.00
2.00
14.96
Incl.
87.00
88.00
1.00
22.65
*The 'From-To' intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Internal dilution for composite intervals does not exceed 1m for samples grading <0.1 g/t Au.
TABLE 2: Drill collar summary for holes reported in this News Release.
Hole ID
Target
Easting
Northing
Elev (m)
Length (m)
Azi
Dip
MM25D-09-4300-001
South Austin
435476
5646299
-3
84.00
139
-28
MM25D-09-4300-002
South Austin
435476
5646299
-3
81.00
133
-26
MM25D-09-4300-003
South Austin
435476
5646300
-3
87.00
129
-28
MM25D-09-4300-004
South Austin
435476
5646300
-3
85.10
126
-11
MM25D-09-4300-005
South Austin
435476
5646300
-3
83.60
125
-25
MM25D-09-4300-006
South Austin
435476
5646300
-3
69.00
123
-20
MM25D-09-4300-007
South Austin
435476
5646300
-3
60.00
121
-8
MM25D-09-4300-008
South Austin
435476
5646300
-4
90.16
122
-31
MM25D-09-4300-009
South Austin
435476
5646300
-3
86.80
118
-24
MM25D-09-4300-010
South Austin
435477
5646300
-3
60.00
115
-11
MM25D-09-4300-011
South Austin
435477
5646300
-3
83.50
114
-17
MM25D-09-4300-012
South Austin
435477
5646300
-4
95.50
111
-28
MM25D-09-4300-013
South Austin
435477
5646301
-3
97.80
108
-21
MM25D-09-4300-014
South Austin
435478
5646300
-2
100.00
108
1
MM25D-11-4420-001
South Austin
435571
5646376
-95
132.00
109
22
MM25D-11-4420-002
South Austin
435570
5646376
-95
132.00
111
29
MM25D-11-4420-003
South Austin
435571
5646376
-95
132.00
111
14
MM25D-11-4420-004
South Austin
435571
5646376
-96
135.00
112
8
MM25D-11-4420-005
South Austin
435571
5646376
-96
141.00
113
-4
MM25D-11-4420-006
South Austin
435571
5646376
-96
132.00
114
8
MM25D-11-4420-007
South Austin
435571
5646376
-97
150.00
114
-10
MM25D-11-4420-008
South Austin
435571
5646377
-95
125.00
116
30
MM25D-11-4420-009
South Austin
435571
5646376
-95
126.00
118
22
MM25D-11-4420-010
South Austin
435571
5646376
-96
128.00
119
14
MM25D-11-4420-011
South Austin
435571
5646377
-95
125.90
120
30
MM25D-11-4420-012
South Austin
435571
5646376
-96
131.70
119
5
MM25D-11-4420-013
South Austin
435572
5646376
-96
136.50
121
-3
MM25D-11-4420-014
South Austin
435571
5646376
-97
108.00
121
-12
MM25D-11-4420-015
South Austin
435571
5646376
-95
124.50
123
20
MM25D-11-4420-016
South Austin
435571
5646376
-96
130.00
123
8
MM25D-11-4420-017
South Austin
435571
5646377
-94
129.00
124
38
MM25D-11-4420-018
South Austin
435571
5646376
-95
125.50
123
29
MM25D-11-4420-019
South Austin
435571
5646376
-94
108.00
129
29
MM25D-11-4420-020
South Austin
435571
5646376
-95
129.00
128
15
MM25D-11-4420-021
South Austin
435571
5646376
-96
132.00
129
6
MM25D-11-4420-022
South Austin
435571
5646376
-96
135.00
129
-3
MM25D-11-4420-023
South Austin
435571
5646376
-97
108.00
129
-12
MM25D-11-4420-024
South Austin
435571
5646376
-94
108.00
130
36
MM25D-11-4420-025
South Austin
435571
5646376
-94
129.00
134
31
MM25D-11-4420-026
South Austin
435571
5646376
-95
127.50
134
25
MM25D-11-4420-027
South Austin
435571
5646376
-94
114.00
135
35
MM25D-11-4420-028
South Austin
435571
5646376
-95
129.00
136
20
MM25D-11-4420-029
South Austin
435571
5646376
-96
136.00
136
-6
MM25D-11-4420-030
South Austin
435571
5646376
-96
127.50
138
5
MM25D-11-4420-031
South Austin
435571
5646376
-95
129.00
140
25
MM25D-11-4420-032
South Austin
435570
5646376
-94
116.80
142
35
MM25D-11-4420-033
South Austin
435570
5646376
-95
127.80
143
22
DISCUSSION
Accessed through the Madsen Mine West Portal, the South Austin Zone sits south in the hanging wall of the main Austin Zone. Like the other mineralized domains that comprise the Madsen Mine, the South Austin structure is hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism.
At the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are locally folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. In addition to this intense deformation overprint, the mineralized veins and alteration have been subjected to the relatively high temperatures of amphibolite facies metamorphism, which led to extensive recrystallization and growth of the skarn-like replacement mineral assemblage of diopside-amphibole-quartz-biotite.
All significant gold mineralization on the mine property is demonstrably early relative to the most significant, penetrative deformation (D2) and metamorphic events. The North Austin Zone displays 'mine-style' alteration and mineralization and consists of multiple mineralized domains defined over a strike length of 0.5km. Mineralization remains open at depth and along strike to the northeast.
In drill core, or at underground face exposures, gold-bearing zones at the Madsen Mine are best identified visually by fine (sub-millimetre) grains of free gold within strong alteration and veining. All high-grade intervals generally contain visible gold on drill core exteriors, although numerous examples exist of high-grade assays where visible gold was only identified within the interior (cut surface) of the core samples. Apart from the presence of free gold, pervasive silicification (locally accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the best indicators that a given interval is within a high-grade zone along/within the mineralized structure.
The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. Drilling has been focused on the more continuous and higher-grade portions of the Austin, South Austin, North Austin and McVeigh Zones. This will continue to be the strategy through 2025.
High resolution versions of all the figures contained in this press release can be found at the following web link: High Resolution Figures - August 12th News Release.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f40d6727-05f8-486f-a47e-ba88aa08facf
FIGURE 7. South Austin plan view drill section showing assay highlights for Holes MM25D-11-4420-001 through -033 and MM25D-09-4300-001 through -014.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecedfc14-eafb-40ce-baff-398b2569b7d3
FIGURE 8. South Austin section view showing assay highlights for Holes MM25D-09-4300-001 through -004.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5cb6f517-f657-4b7b-9180-b548ff59c4d0
FIGURE 9. South Austin section view showing assay highlights for Holes MM25D-09-4300-005 through -008.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/316810b1-5465-49c6-bb62-aade4486a628
FIGURE 10. South Austin section view showing assay highlights for Holes MM25D-09-4300-009 through -011.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8c0d03c-0f2a-4c11-9fa9-4cc7db92b12c
FIGURE 11. South Austin section view showing assay highlights for Holes MM25D-09-4300-012 through -014.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efe22bfa-13f6-4f97-b1a5-70856ac64070
FIGURE 12. South Austin section view showing assay highlights for Holes MM25D-11-4420-031 through -033.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f821f33-4390-4ca9-a843-2cd6e7dd5a3d
FIGURE 13. South Austin section view showing assay highlights for Holes MM25D-11-4420-025 through -030.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91e9e710-99f3-4e71-a1d2-5787a3472d2b
FIGURE 14. South Austin section view showing assay highlights for Holes MM25D-11-4420-019 through -024.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc967018-2c94-4fab-9517-b8b7b3ebb620
FIGURE 15. South Austin section view showing assay highlights for Holes MM25D-11-4420-009 through -018.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee6fe774-245d-4837-8cd2-85671c176577
FIGURE 16. South Austin section view showing assay highlights for Holes MM25D-11-4420-001 through -008.
QUALITY ASSURANCE/QUALITY CONTROL
Drilling completed underground at the Madsen Mine consists of BQ-sized diamond drill core for definition drill programs and oriented NQ-sized diamond drill core for exploration focused drilling. All drill holes are systematically logged, photographed, and sampled by a trained geologist at the Madsen Mine core processing facility. Minimum allowable sample length is 0.5m. Maximum allowable sample length is 1.5m. Control samples (certified standards and uncertified blanks), along duplicates, are inserted at a target 5% insertion rate. Results are assessed for accuracy, precision, and contamination on an ongoing basis. The BQ-sized drill core is whole core sampled. The NQ-sized drill core is then cut lengthwise utilizing a diamond blade core saw along a line pre-selected by the geologist. To reduce sampling bias, the same side of drill core is sampled consistently utilizing the orientation line as reference. For those samples containing visible gold ('VG'), a trained geologist supervises the cutting/bagging of those samples, and ensures the core saw blade is 'cleaned' with a dressing stone following the VG sample interval. Bagged samples are then sealed with zip ties and transported by Madsen Mine personnel directly to SGS Natural Resource's Facility in Red Lake, Ontario for assay.
Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2mm. A riffle splitter is then utilized to produce a 500g course reject for archive. The remainder of the sample is then pulverized to 85% passing 75 microns from which 50g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish (SGS Code GO-FAA50V10). Samples returning gold values > 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50g sample (SGS Code GO_FAG50V). Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multi-element analysis, samples are sent to SGS's facility in Burnaby, British Columbia and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25g sample pulps (SGS code: GE_ICP40Q12). SGS Natural Resources analytical laboratories operates under a Quality Management System that complies with ISO/IEC 17025.
The Madsen Mine deposit presently hosts a National Instrument 43-101 – Standards of Disclosure for Mineral Projects ('NI 43-101') Indicated resource of 1.65 million ounces ('Moz') of gold grading 7.4 g/t Au within 6.9 Mt, and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t Au within 1.8 Mt. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources as stated are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Madsen Mine also contains Probable reserves of 478 thousand ounces ('koz') of gold grading 8.16 g/t Au within 1.87 Mt. Mineral reserve estimates are based on a gold price of US$1,680/oz. Please refer to the technical report entitled 'NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada', prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025 (the 'Madsen Report'). The Madsen Resource Estimate has an effective date of December 31, 2021, and excludes depletion of mining activity during the period from January 1, 2022, to the mine closure on October 24, 2022, as it has been deemed immaterial and not relevant for the purpose of the Madsen Report. A full copy of the Madsen Report is available on the Company's website and on SEDAR+ at www.sedarplus.ca.
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 NI 43-101 'Standards of Disclosure for Mineral Projects'.
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.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/32c216ab-b12c-4f06-a69f-06a22a98a153
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
'Shane Williams'
Shane WilliamsPresident & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
Email: investors@wrlgold.com 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 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.Sign in to access your portfolio
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