Mr. Shane Williams reports

WEST RED LAKE GOLD'S (WRLG.V) DRILLS HIT HIGH-GRADE IN THE NORTH AUSTIN ZONE

West Red Lake Gold Mines Ltd. has released drill results from the North Austin zone at its 100-per-cent-owned Madsen mine located in the prolific Red Lake gold district of Northwestern Ontario, Canada.

The company's flagship asset -- the Madsen gold mine -- is debt-free, fully permitted, with a brand-new 800-plus-tonne-per-day mill, and a tailings and water treatment facility.

The Nov. 21, 2023, Madsen results follow six months of high-grade assays from West Red's Rowan gold project located about 15 kilometres as the crow flies from the Madsen mill: May 23, 2023 -- 10.34 grams per tonne Au over eight metres; June 21, 2023 -- 113.74 g/t Au over 0.5 m; Aug. 1, 2023 -- 50.52 g/t Au over four m; Aug. 29, 2023 -- 66.66 g/t Au over two m; Sept. 12, 2023 -- 70.80 g/t Au over 8.3 m; Oct. 11, 2023 -- 45.20 g/t Au over two m; and Nov. 9, 2023 -- 10.92 g/t Au over 2.4 m.

This first round of drill results from the Madsen mine were all drilled from underground on the North Austin zone, which represents a new area of high-grade mineralization extending the current Madsen resource to the northeast.

The West Red team believes these intercepts are indicative of the exceptional resource growth potential that still exists at the Madsen mine asset. The North Austin zone sits adjacent to existing underground development, marking it as a high-calibre target that could potentially be developed early during future mine restart and production".

The North Austin zone remains open down plunge and along strike to the northeast and will continue to be a priority expansion target as underground drilling continues.

North Austin zone drill highlights:

• Hole MM23X-02-4980-003 intersected 10.28 m at 27.15 g/t Au, from 28.72 m to 39 m, including one m at 33.11 g/t Au, from 31.50 m to 32.50 m, also including one m at 226.85 g/t Au, from 32.50 m to 33.5 m.
• Hole MM23X-02-4980-001 intersected 8.5 m at 22.31 g/t Au, from 26.95 m to 35.45 m, including 0.55 m at 186.56 g/t Au, from 26.95 m to 27.50 m, also including one m at 80.76 g/t Au, from 27.50 m to 28.50 m.
• Hole MM23X-02-4980-004 intersected 7.36 m at 8.98 g/t Au, from 29.74 m to 37.10 m, including one m at 40.81 g/t Au, from 31.40 m to 32.40 m.

"Our geologic team quickly recognized the exploration potential in the North Austin area, which represents a high-grade expansion target that sits very close to existing underground infrastructure," stated Shane Williams, president and chief executive officer of West Red.

"The Madsen deposit currently has resources defined down to depths of over one kilometre," Will Robinson, vice-president of exploration, told Guy Bennett, the CEO of Global Stocks News. "High-grade drill intercepts down plunge and beneath the currently modelled resource suggest these zones run deeper."

"North Austin is particularly exciting because it represents a near-surface, high-grade target that can be advanced with shorter drill holes and minimal additional development," continued Mr. Robinson. "This should provide more bang for our buck as we allocate additional drill and development metres to continue expanding this new area of high-grade mineralization."

West Lake Red Gold will continue to focus on definition drilling increasing confidence in the current resource, while taking advantage of near-mine organic growth opportunities like the North Austin zone that could materially enhance and increase the mineral resource inventory at Madsen.

The Red Lake district is known for deep deposits. In 2003 Gold Corp. hit an intersection of 57 grams per tonne gold at its Red Lake mine 2,146 metres below surface.

Since underground drilling began eight weeks ago, West Red has completed 848 metres of exploration drilling and 3,369 metres of definition drilling.

In total, 70 diamond drill holes for 4,217 metres have been completed so far in 2023 at the Madsen mine. Fire and metallic screen assays have been returned for 65 out of 70 holes completed, with five holes pending assays and quality assurance/quality control.

On Nov. 7, 2023, West Red Lake Gold announced an upsize of marketed private placement of units to $13-million at 52 cents per unit.

West Red CEO Mr. Williams has designed, built and operated mines (open pit and underground) for Eldorado Gold and Rio Tinto. He has a stellar record of moving mineral assets into production.

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.

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