Mr. Shane Williams reports

WEST RED LAKE GOLD INTERSECTS 37.33 G/T AU OVER 2.79M AND 5.26 G/T AU OVER 9.0M AT NORTH AUSTIN ZONE - MADSEN MINE

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

This 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. This program was designed to expand the North Austin zone down-plunge to the northeast.

There are three main plunge lines (ore shoots) that the team is targeting at North Austin, and the results in this press release have demonstrated down-plunge continuity on the order of 30 metres within at least one of these ore shoots.

The North Austin zone sits adjacent to existing underground development marking it as a high calibre, near-surface 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.

Highlights:

• Hole MM24X-03-5127-010 intersected 2.79 metres at 37.33 grams per tonne (g/t) gold (Au), from 124.21 m to 127 m, including one m at 88.06 g/t Au, from 125.21 m to 126.21 m.
• Hole MM24X-03-5127-011 intersected 9.02 m at 5.26 g/t Au, from 53.06 m to 62.08 m, including:
  • 0.88 m at 22.34 g/t Au, from 58 m to 58.88 m;
  • 0.5 m at 26.18 g/t Au, from 61.08 m to 61.58 m;
  • 2.54 m at 5.21 g/t Au, from 118.46 m to 121 m, including:
    • 0.61 m at 16.60 g/t Au, from 118.96 m to 119.57 m.
• Hole MM24X-03-5127-007 intersected 1.57 m at 25.12 g/t Au, from 128 m to 129.57 m, including one m at 31.47 g/t Au, from 128 m to 129 m.
• Hole MM24X-03-5127-001 intersected two m at 9.5 g/t Au, from 72 m to 74 m, including one m at 17.94 g/t Au, from 73 m to 74 m.

Shane Williams, president and chief executive officer, stated: "It's very encouraging to see the North Austin drilling beginning to deliver on expectations. Defining new areas of mineralization outside of, but adjacent to, the known deposit will continue to be a priority at Madsen, and further solidifies our strategy with continuing to derisk the asset while also taking full advantage of high-grade, near-mine organic growth opportunities."

Discussion

Accessed through the Madsen mine east portal, the North Austin zone sits northeast in the footwall of the main Austin zone. Like the main Austin and South Austin structures, the North Austin domain is hosted within broad, kilometre-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 0.5 kilometre. 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 (submillimetre) 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 and North Austin zones. This will continue to be the strategy moving into 2024.

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 0.5 metre. Maximum allowable sample length is 1.5 m. Control samples (certified standards and uncertified blanks), along with duplicates, are inserted at a target 5-per-cent insertion rate. Results are assessed for accuracy, precision and contamination on an continuing 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 preselected 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, Ont., for assay.

Samples are then prepped by SGS, which consists of drying at 105 C and crushing to 75 per cent passing two millimetres (mm). A riffle splitter is then utilized to produce a 500-gram course reject for archive. The remainder of the sample is then pulverized to 85 per cent passing 75 microns, from which 50 g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish (SGS code GO-FAA50V10). Samples returning gold values over 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50 g sample (SGS code GO_FAG50V). Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multielement analysis, samples are sent to SGS's facility in Burnaby, B.C., and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25 g 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 indicated resource of 1.65 million ounces (Moz) of gold grading 7.4 g/t Au and an inferred resource of 370,000 ounces of gold grading 6.3 g/t Au. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of $1,800 (U.S.)/oz. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to the technical report entitled "Independent NI 43-101 technical report and updated mineral resource estimate for the PureGold mine, Canada," prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023, and amended April 24, 2024. The Madsen resource estimate has an effective date of Dec. 31, 2021, and excludes depletion of mining activity during the period from Jan. 1, 2022, to the mine closure on Oct. 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+.

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, as defined by NI 43-101 -- Standards of Disclosure for Mineral Projects.

About West Red Lake Gold Mines Ltd.

West Red Lake 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 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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