West Red Lake Gold Announces Filing of NI 43-101 Preliminary Economic Assessment Technical Report for the Rowan Project

VANCOUVER, British Columbia, Aug. 19, 2025 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce the filing of its independent preliminary economic assessment (“PEA”) technical report for its 100% owned Rowan project located in the Red Lake Gold District of northwestern Ontario, Canada, with an effective date of June 30, 2025 (the “PEA Technical Report”).

The PEA Technical Report was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") by Fuse Advisors Inc., an independent consulting firm, and supports the disclosure made by the Company in its July 8, 2025 news release announcing the results of the PEA. There are no material differences in the PEA Technical Report from the information disclosed in the July 8, 2025 news release (available here: https://westredlakegold.com/west-red-lake-gold-announces-positive-preliminary-economic-assessment-for-the-rowan-project-including-over-35000-oz-average-annual-production-and-42-after-tax-irr/).

TECHNICAL INFORMATION AND TECHNICAL REPORT FILING

A copy of the full PEA Technical Report is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.westredlakegold.com. Readers are encouraged to read the PEA Technical Report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the Mineral Resource and life of mine plan. The PEA Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The technical content of this press release has been prepared, reviewed, and approved by Mr. Will Robinson, P.Geo., Vice President Exploration of West Red Lake Gold Mines Ltd., and by Mr. Maurice Mostert, P.Eng., Vice President Technical Services of West Red Lake Gold Mines Ltd., each a Qualified Person ("QP"), as defined in NI 43-101.

ABOUT WEST RED LAKE GOLD MINES

West Red Lake Gold Mines Ltd. is a gold development and mining company that is publicly traded and focused its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an property position covering 31 km² including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
Email: investors@wrlgold.com or visit the Company’s website at https://www.westredlakegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION

Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate”, “expect”, “estimate”, “forecast”, “planned”, and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the results of the PEA being achieved; the significance of the results of the PEA; the ability of exploration activities, including drilling, to accurately predict mineralization; management’s expectations on the grade and extension of mineralization; the accuracy of results from prior exploration activities conducted at the Rowan Project; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the PEA Technical Report; the potential profitability and/or viability of the Rowan Project; the capital and operating cots involved in the Rowan Project, the potential for expansion of the Rowan Project; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.

Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a PFS or feasibility study which recommends a production decision; delays in obtaining or failure to obtain required governmental, environmental or other project approvals; political risks; inability to fulfill the duty to accommodate indigenous partners; uncertainties relating to the availability and costs of financing needed in the future; market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices; and changes in the Company’s business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis for the year ended December 31, 2024, and the Company’s annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

For more information on the Company, investors should review the Company’s continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/473a02b4-c5e1-40bd-98e8-ecaec58ceab6

Madsen Rowan Projects Location Map

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