Mr. Shane Williams reports

WEST RED LAKE GOLD REPORTS Q3 2026 PRODUCTION AND CONTINUED OPERATIONAL MOMENTUM AT THE MADSEN MINE

West Red Lake Gold Mines Ltd. has provided an operational update for the third quarter ended Sept. 30, 2026, for the Madsen mine, located in the Red Lake gold district of Ontario.

Q3 operating highlights:

• Gold production totalled 7,859 ounces during Q3 2026 bringing year-to-date production to 22,102 ounces. September was the strongest month since the restart of the Madsen mine, with 3,320 ounces produced.
• Mined tonnage totalled 63,945 tonnes in Q3 2026, while mined ounces totalled 7,689 ounces.
• Underground development continued to expand production inventory and advance access to additional mining areas, increasing the number of available mining fronts and building greater flexibility into the mine plan for 2027 and beyond.
• A secondary crusher was installed and commissioned during Q3. The crusher is now operational, supporting the mill's ability to process up to 1,000 tonnes per day. The low-grade surface stockpile generated in the second quarter was processed during Q3.
• The mill achieved average processing rates of approximately 867 tonnes per day during Q3.

Shane Williams, president and chief executive officer, commented: "Q3 was another productive quarter for Madsen as we continued to advance the underground development and strengthen the operation to support our longer-term mine plan. September delivered our highest monthly gold production since restarting the mine. This demonstrates the operational momentum we have built through the quarter and provides a solid foundation as we move into the fourth quarter.

"During the quarter, we continued to experience industry-wide challenges with the recruitment and retention of skilled underground personnel. In addition, the extraction of certain remnant pillars proved more challenging than anticipated as mining activities remained concentrated in previously mined areas. At the same time, we continued to advance development toward additional mining fronts, including previously unmined areas deeper in the Madsen deposit.

"Our team remains focused and have actively been addressing these challenges, and we are seeing positive progress entering into the fourth quarter. We also took targeted steps to improve material handling and support our underground work force, including commissioning the secondary crusher and adding specialized contractors. These are practical operating improvements that are helping us build a more flexible and consistent mine.

"Looking ahead, our focus is on carrying this progress forward at Madsen while advancing the additional high-grade mining areas and satellite deposits that form part of our hub and spoke strategy. We also expect to release our integrated Madsen and Rowan prefeasibility study imminently, providing an updated view of the longer-term production profile and growth opportunity across this district."

Operational performance

Mining during the quarter was predominantly focused on remnant areas of the Madsen deposit, with the areas mined during Q3 carrying lower average grades than certain new mining areas being developed. Mining and development through these areas forms part of the mine sequence as the company advances access deeper into the Madsen deposit, including toward unmined areas such as the 904 complex.

Remnant mining requires more selective mining practices and additional ground control. These requirements, together with labour availability in certain specialized underground roles, affected mining rates during the quarter. To support continuing mining activities while maintaining the pace of underground development, the company supplemented its work force with specialized contractors during Q3.

Material handling was also an area of focus during the quarter. The company installed and commissioned a secondary crusher to improve the handling of underground material. The crusher is now operational and performing well.

Underground development continued throughout Q3, increasing production inventory and advancing access to additional mining areas. This work is increasing the number of available mining fronts and providing greater flexibility in mine sequencing as Madsen progresses into 2027.

2026 outlook

West Red Lake Gold previously provided 2026 gold production guidance for the Madsen mine of 35,000 to 45,000 ounces. However, in light of industry-wide labour challenges, as evidenced at the Madsen mine during Q3 and the continuing production ramp-up expected throughout the remainder of the second half of 2026, the company has revised the 2026 guidance to 27,000 to 32,000 ounces.

Looking beyond current operations, the company expects to release its integrated Madsen and Rowan prefeasibility study in the coming weeks. The integrated PFS will present Madsen and Rowan within a single production plan, with the Madsen mill serving as the central processing hub and Rowan as a high-grade underground satellite mine. Together with additional mining areas being developed at Madsen and the advancement of Fork, the integrated PFS will provide an updated view of the company's longer-term production and growth plans in Red Lake.

Webcast details

The company will release its unaudited financial and operating results for the three, six and nine months ended Sept. 30, 2026, on Friday, Nov. 27, 2026, after market close. Management will host a webcast to discuss the results on Monday, Nov. 30, 2026, commencing at 8 a.m. PT/11 a.m. ET. Registration will open 20 minutes prior to the event start time.

Qualified persons

The technical information presented in this news release has been reviewed and approved by Will Robinson, PGeo, vice-president of exploration for West Red Lake Gold and the qualified person for exploration at the West Red Lake project, and Hayley Halsall-Whitney, PEng, vice-president of operations for West Red Lake Gold and the qualified person for technical services at the West Red Lake project, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Robinson and Ms. Halsall-Whitney are not independent of West Red Lake Gold Mines.

About West Red Lake Gold Mines Ltd.

West Red Lake Gold Mines is a Canadian gold producer and developer advancing a high-grade, district-scale opportunity in the Red Lake district of Ontario. The company's flagship Madsen mine has recently achieved commercial production and is positioned as the central hub of a growing multiasset platform. The company controls a 47-square-kilometre land package in one of the world's most prolific mining districts, which has historically produced over 20 million ounces of gold from high-grade systems. West Red Lake also owns the Rowan property in Red Lake, covering 31 square kilometres, which includes three past-producing mines (Rowan, Mount Jamie and Red Summit) and represents a key source of future production growth.

We seek Safe Harbor.