$WRLG.V

West Red Lake Gold Launches Surface Drilling at Starratt-Olsen Gold Mine

West Red Lake Gold Mines (WRLG.V) Tuesday said it has begun a surface drilling program at the Starratt-Olsen Mine, which is 1.1 kilometers southwest of its Madsen Mine In northwestern Ontario.The program at the past-producing Starratt will consist of up to 4,000 meters of oriented HQ diameter diamond drilling. It is the first focused effort in drill testing the main areas of historic mining at Starratt since mining ceased in the 1950s, a statement said.Starratt is the second largest gold producer historically on the Madsen property with ~164,000 ounces of gold produced between 1948-1956 at an average grade of 6.17 grams per tonne gold, the company said.The drill program is expected to be completed mid-August.West Red Lake Gold shares closed up $0.02, to $0.69, on Monday on the TSX Venture Exchange.

West Red Lake Gold Mines Releases Updated Mineral Resource Estimate for Rowan Project

West Red Lake Gold Mines (WRLG.V) released an updated 2026 mineral resource estimate for the Rowan project in Ontario and a maiden MRE for the nearby Mount Jamie deposit.At Rowan, indicated gold ounces increased by 70% to 334,825 oz grading 13.03 grams per tonne gold. Inferred gold oz increased by 52% to 179,013 oz grading 15.31 g/t gold.Gold resource grade increased by 2% in the indicated category and 75% in the inferred category.Significant resource growth can be achieved with exploration expenditures of C$3.5 million and relatively low drilling meters of 6,300 m, representing a discovery cost of about $17.60/oz gold.The initial resource estimate for the Mt. Jamie deposit includes an indicated resource of 49,407 oz grading 14.13 g/t gold, with an additional inferred resource of 35,791 oz grading 11.97 g/t gold.The Rowan MRE will be incorporated into a combined Madsen-Rowan pre-feasibility study planned for release in the second half of 2026. The Mt. Jamie MRE is not in consideration for the Madsen-Rowan PFS.

Earnings Flash (WRLG.V) West Red Lake Gold Posted Q1 Adjusted Net Earnings of $6.4M, or $0.02 Per Basic Share

Earnings Flash (WRLG.V) West Red Lake Gold Reported Q1 Revs C$41.8M Generating $15.3M of Income From Mine Operations Adjusted net earnings(2) of $6.4 million, or $0.02 per basic share

West Red Lake Gold Mines Downgraded to Market Perform at Raymond James

West Red Lake Gold Mines Ltd. (WRLG.V) was downgraded to Market Perform from Outperform at Raymond James.Analyst Craig Stanley lowered his price target on shares of the Canadian gold producer and developer to $1 from $2."The company reported 1Q26 gold sales and 2026 production guidance that were below our estimates," Stanley said in a note to clients."1Q26 gold sales were 6.2 k oz versus our estimate of 9.1 k oz. No production, tonnes, grade, or metallurgical recovery information were provided," the analyst said."This is disappointing, especially regarding grade given the project's history under the previous owner (though we note a 2025 bulk sample was in-line with the resource model)."

West Red Lake Gold Reports 2025 Production Results and Provides 2026 Production Guidance

West Red Lake Gold Mines (WRLG.V), after the close Thursday, reported its 2025 production results and 2026 guidance.The company said in 2025, the Madsen mine transitioned from restart activities to an operating mine, establishing mining fronts, advancing underground development and improving mill performance to support sustained operations. This progress is expected to continue through the first half of 2026, with a full production run rate targeted in the second half of the year, the company said.Madsen mine produced 20,000 ounces of gold in 2025, while revenue totaled C$103 million. The company expects 2026 gold production from the Madsen mine to range between 35,000 ounces and 45,000 ounces."We established a strong operating base at Madsen in 2025 and ramp up is progressing as planned. We are now focused on building consistency into the operation through 2026. Our priority is execution, expanding available mining areas, improving sequencing, and continuing to advance underground development. As production increases further, we expect to generate meaningful cash flow that will be directed toward accelerated development and infrastructure to support higher mining rates and improved costs, as well as earmarked for debt repayment," said chief executive Shane Williams.WRLG said it is executing on a strategy that is "centered on building a scalable, multi-asset gold operation in the Red Lake district, anchored by the Madsen mill and supported by a hub and spoke model"."It begins with establishing sustainable production and advancing infrastructure in 2026, followed by integrating additional mining areas and satellite deposits starting in 2027," it added.Shares of the company closed down $0.01 at $1.02 on TSX Venture Exchange on Thursday.

West Red Lake Gold Mines Provides Drill Results From Madsen Mine

West Red Lake Gold Mines (WRLG.V) Monday provided drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.The company said recent drilling success from the Austin 904 "demonstrates the potential for discovery of additional high-grade lenses of gold mineralization in the main Austin Zone very similar to those that have already been delineated in the South Austin 4447 area during the 2025 campaign." It is anticipated that the 904 Complex will continue to be a primary focus of drilling at Madsen for the remainder of 2026 with initial production from this area expected in the first half of 2027.Hole MM26D-13-4881-031 intersected 5.35 metres (m) at 215.46 grams per tonne (g/t) gold (Au), from 135.10m to 140.45m, including 2.95m at 388.90 g/t Au, from 136.00m to 138.95m. Hole MM26D-13-4881-034 intersected 4.05m at 50.34 g/t Au, from 135.5m to 139.55m, including 0.5m at 390.36 g/t Au, from 137.05m to 137.55m.It also said hole MM26D-13-4881-018 intersected 3m at 61.70 g/t Au, from 122.5m to 125.5m, including 0.5m at 61.70 g/t Au, from 123.5m to 124.0m. The company said these intercepts were complemented by multiple occurrences of visible gold spatially associated with quartz veining and strong silicification."For historic comparison, the High-Grade Zone discovery by Goldcorp Inc. in Red Lake was initially established on nine holes with a weighted average grade of 311 grams per tonne gold, uncapped, over 2.3 metres - we already have multiple results received to date out of 904 that exceed these grades and thicknesses," said West Red Lake Gold Mines vice president of Exploration Will Robinson. "Additionally, our definition drills have only begun testing the upper 30 metres of the currently modeled 200 metre by 200 metre mineralized panel in 904 - which is believed to be fully intact and has had no historic mining."Shares of the company closed unchanged at $0.99 on Friday on the TSX Venture Exchange.