West Red Lake Gold Grants Equity Incentive Awards

Core Viewpoint - West Red Lake Gold Mines Ltd. has announced the grant of stock options, restricted share units (RSUs), and deferred share units (DSUs) as part of its compensation plans for officers and directors [1][3]. Group 1: Stock Options - Officers of the Company were granted a total of 4,839,269 stock options, which will vest over a three-year period with 25% vesting in three months from the grant date and the remaining 75% vesting on the first, second, and third anniversaries of the grant date [2]. - The stock options have an exercise price of $1.10 and are exercisable for a five-year period from the date of grant [2]. Group 2: Restricted Share Units (RSUs) and Deferred Share Units (DSUs) - A total of 2,845,503 RSUs were granted to officers, which will vest over three years in three equal tranches on the first, second, and third anniversaries of the grant date [3]. - Additionally, 594,594 DSUs were granted to non-executive directors, which will vest on the first anniversary of the grant date [3]. Group 3: Company Overview - West Red Lake Gold Mines Ltd. is focused on advancing and developing its flagship Madsen Gold Mine and holds a highly prospective land package of 47 km in the Red Lake district of Ontario, known for its rich gold deposits [5]. - The Red Lake Gold District has produced over 30 million ounces of gold from high-grade zones and includes the wholly owned Rowan Property, which covers 31 km and includes three past-producing gold mines [5].