West Red Lake Gold Adding Confidence to Rowan Mine Resource and Extending Vein Zones

Core Insights - West Red Lake Gold Mines Ltd. announced positive drill results from its infill and conversion drilling program at the Rowan Project, which is fully funded and 100% owned by the company [1][2][26] - The results indicate potential for increased daily mined tonnage and improved project economics by incorporating additional veins into the production profile [2][30] Drilling Program Overview - A total of 37 holes were drilled, covering approximately 6,300 meters, with fire assay results reported for 26 holes and results pending for 11 holes [3][27] - The drilling program aims to upgrade Inferred resources to Indicated and provide data for a combined Pre-Feasibility Study (PFS) for the Madsen Mine and Rowan Project [27][30] Significant Drill Results - Notable intercepts include: - Hole RLG-26-212: 1.62m at 19.83 g/t Au, including 0.62m at 51.50 g/t Au [7][10] - Hole RLG-26-210: 1m at 30.59 g/t Au, including 0.5m at 61.10 g/t Au [7][10] - Hole RLG-25-206: 0.5m at 41.50 g/t Au [10] - The results highlight the high-grade potential of the Rowan vein system, with visible gold associated with quartz veining in several holes [7][10] Economic Potential - The 2025 Preliminary Economic Assessment (PEA) projected an underground mine at Rowan producing an average of 35,230 ounces of gold per year at an average grade of 8.0 g/t Au [26] - Incorporating additional veins could extend the mine life and allow for earlier ore extraction, positively impacting the net present value (NPV) of the project [30][31] Resource Estimates - The current mineral resource estimate includes an Indicated resource of 478,707 tonnes containing 196,747 ounces of gold at a grade of 12.78 g/t Au, and an Inferred resource of 421,181 tonnes containing 118,155 ounces at 8.73 g/t Au [40][41] - The estimates are based on a cut-off grade of 3.80 g/t Au and a gold price of US$1,800/oz [40][41] Future Plans - The company plans to conduct further geotechnical, metallurgical, and engineering studies to support the PFS, with permitting efforts aimed at advancing Rowan towards Advanced Exploration status by 2027 [31][32] - The Advanced Exploration permit is expected to facilitate bulk sample extraction and underground mine development [32][31]