[Video Enhanced] West Red Lake Gold 2025 US$73 million Gold Sales in Rear View Mirror as 2026 Commercial Production Begins

Core Viewpoint - West Red Lake Gold Mines has commenced commercial production at its Madsen Gold Mine, marking a significant milestone for the company and the project [1][2]. Production and Performance - The Madsen Gold Mine achieved commercial production on January 1, 2026, following a successful December where tonnage, grade, recoveries, and production met expectations [2][5]. - In December 2025, the mine milled 21,389 tonnes at 86% of permitted daily mill capacity, with a gold grade of 4.94 g/t, resulting in the production of 3,215 ounces of gold [2][6]. - The average mill recovery rate was 94.6% in December, contributing to the production of 3,215 ounces of gold [3][6]. - For Q4 2025, the mine produced a total of 7,200 ounces of gold, sold at an average price of US$4,150 per ounce, generating total gold sales revenue of US$30 million [11][13]. Financial Overview - The company reported a total of 20,000 ounces of gold poured in FY 2025, with gross proceeds of US$73 million at an average sale price of US$3,650 per ounce [7][8]. - As of the end of the year, the company had CAD$46 million in cash and receivables [8]. Future Plans and Expectations - The company plans to continue mining predominantly from the high-grade 4447 area, expecting mill feed to average better than 6 g/t gold in the upcoming quarter [7]. - The company aims to ramp up production to reach sustained permitted capacity by mid-2026 and will release 2026 guidance during Q1 2026 [13]. - Future exploration efforts will focus on delineating new high-grade areas and completing a prefeasibility study for the Madsen-Rowan project [10]. Resource Estimates - The Madsen Mine currently hosts an indicated resource of 1.65 million ounces of gold at a grade of 7.4 g/t and an inferred resource of 0.37 million ounces at 6.3 g/t [16].