Mr. Shane Williams reports

WEST RED LAKE ANNOUNCES $30 MILLION BOUGHT DEAL PUBLIC OFFERING

West Red Lake Gold Mines Ltd. has entered into an agreement with Raymond James Ltd. as sole underwriter, pursuant to which Raymond James has agreed to purchase, on a bought deal basis, 26,316,000 common shares and 3.76 million charity flow-through shares of the company at a price of 95 cents per common share and $1.33 per charity flow-through share for aggregate gross proceeds to the company of approximately $30-million.

The company has agreed to grant Raymond James an overallotment option to purchase up to an additional 15 per cent of the aggregate number of common shares at the common share issue price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the offering.

The net proceeds pursuant to the issuance of the common shares are expected to be used to continue to advance the Madsen gold mine, including completing ramp-up of operations to commercial production and expediting capital projects to enable higher output sooner than would otherwise be scheduled. Pulling such projects forward supports the company's long-standing plan to increase production carefully but rapidly in order to position as a growing gold producer as the emerging gold market unfolds. Proceeds are also expected to be used to pursue growth opportunities as well as for working capital and general corporate purposes. The gross proceeds pursuant to the issuance of the charity flow-through shares will be used to incur qualifying Canadian exploration expenses on the company's assets, primarily at the Rowan project, where the company plans to complete infill drilling, engineering and continuing environmental work in support of a pending prefeasibility study.

The common shares and charity flow-through shares will be offered under the short-form base shelf prospectus of the company dated April 30, 2024, as supplemented by a shelf prospectus supplement to be prepared and filed in each of the provinces of Canada, other than the province of Quebec. The common shares will also be offered by way of a private placement in the United States and in those jurisdictions outside of Canada and the United States, which are agreed to by the company and Raymond James, where the common shares can be issued on a private-placement basis, exempt from any prospectus, registration or other similar requirements.

The offering is expected to close on or about Sept. 23, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About West Red Lake Gold Mines Ltd.

West Red Lake Gold Mines is a gold development and mining company that is publicly traded and focused on 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 a property position covering 31 square kilometres, including three past-producing gold mines -- Rowan, Mount Jamie and Red Summit.

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