[Video Enhanced] West Red Lake Gold Launches Rowan Drill Program After Positive PEA

Core Viewpoint - West Red Lake Gold Mines is initiating a fully funded infill and conversion drilling program at its Rowan Project, aiming to enhance resource confidence and advance towards production in a favorable gold market [1][2][9]. Company Overview - West Red Lake Gold Mines (TSXV: WRLG) (OTCQB: WRLGF) is focused on the Rowan Project located in the Red Lake Gold District of Northwestern Ontario, Canada, which is 80 kilometers from the Madsen Mine [1][2]. - The company aims to grow rapidly as a gold producer, targeting an annual production of 50,000 ounces from Madsen in 2026 and an additional 32,500 ounces from Rowan by 2028, potentially reaching a total production of 90,000 to 100,000 ounces per year [3][4][9]. Project Details - The Rowan Project is characterized as a high-grade, nearly vertical deposit with an average diluted head grade of 8.0 grams per tonne and an average annual production of 35,230 ounces over a five-year mine life [5][9]. - The Preliminary Economic Assessment (PEA) for Rowan, filed in July 2025, uses a conservative long-term gold price of USD$2,500 per ounce, significantly lower than current market prices [2][5]. Drilling Program Objectives - The drilling program aims to achieve three main goals: 1. Upgrade inferred resources to indicated status for inclusion in a pre-feasibility mine plan [6]. 2. Drill two veins that were not included in the mine plan due to sparse historical data [6]. 3. Collect rock material for advanced metallurgical studies to support a combined pre-feasibility study for both Madsen and Rowan [6][9]. Economic Projections - The PEA indicates a post-tax Net Present Value (NPV) of $239 million at a gold price of USD$3,250 per ounce, with an Internal Rate of Return (IRR) of 81.7% [5][9]. - The initial capital cost for developing Rowan is estimated at $70 million, with potential for a toll milling operation utilizing existing infrastructure at Madsen [5][6]. Future Plans - The company anticipates starting underground development at Rowan in 2027, with production expected to commence in 2028 [4][9]. - A combined pre-feasibility study is expected to be completed by Q3 2026, which will establish a valuation benchmark for the total Red Lake assets and inform permit applications [9].