Mr. Shane Williams reports

WEST RED LAKE GOLD ANNOUNCES UPSIZE OF MARKETED PRIVATE PLACEMENT OF UNITS TO C$13 MILLION

As a result of strong investor demand, West Red Lake Gold Mines Ltd. has amended its agreement with Canaccord Genuity Corp. and Eight Capital, to increase the size of the previously announced best efforts private placement of units to raise gross proceeds of up to $13-million, consisting of up to 25 million units of the company at a price of 52 cents per unit.

Each unit will consist of one common share of the company and one common share purchase warrant of the company. Each warrant will entitle the holder to acquire one common share of the company for 36 months from the closing of the offering at a price of 68 cents.

The agents will have an option to increase the size of the offering by up to $2.08-million through the sale of an additional four million units at the offering price, which agents' option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing date (defined herein).

The net proceeds received from the offering will be used to advance the company's mineral properties in Ontario, as well as for working capital and general corporate purposes.

It is anticipated that the closing of the offering will occur on or about Nov. 28, 2023, or such other date(s) as the company and the underwriters may agree. The offering is subject to the satisfaction of certain conditions, including the receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The securities sold under the offering will have a hold period in Canada of four months and one day from the closing date, in accordance with applicable securities laws.

About West Red Lake Gold Mines Ltd.

West Red Lake Gold Mines is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen gold mine and the associated 47-square-kilometre, highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake gold district of Northwestern Ontario, Canada, has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. West Red Lake Gold Mines also holds the wholly owned Rowan property in Red Lake, with an expansive property position covering 31 square kilometres, including three past-producing gold mines -- Rowan, Mount Jamie and Red Summit.

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