Mr. Shane Williams reports

WEST RED LAKE GOLD ANNOUNCES UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL PUBLIC OFFERING

West Red Lake Gold Mines Ltd. has agreed with Raymond James Ltd. to increase the size of its previously announced bought deal financing. West Red Lake will issue 36,232,000 units of the company at a price of 69 cents per unit for gross proceeds of $25,000,080. Each unit is composed of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of 90 cents for a period of 36 months following the closing of the offering.

The company has also granted to the underwriters an overallotment option to purchase an additional 15 per cent of the base offering for additional gross proceeds to the company of up to $3,750,012 to acquire units, common shares and/or warrants (or any combination thereof), at the underwriters' discretion, and shall be exercisable by the underwriters, in whole or in part, for a period of 30 days from and including the closing date.

In all other respects, the terms of the offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated Oct. 24, 2024.

Copies of the base prospectus and the supplement will be available on the company's SEDAR+ page.

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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