West Red Lake Gold Further De-Risks Fork Satellite Deposit with Successful Infill Drilling

Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.VANCOUVER, British Columbia, March 17, 2026 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)(OTCQB: WRLGF) is pleased to announce results from the infill drilling program at its 100% owned Fork Deposit located approximately 250 metres (“m”) southwest from its Madsen Mine in the Red Lake Gold District of Northwestern Ontario, Canada.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Shane Williams, President and CEO, stated, “Successful completion of the infill drilling program at Fork was an important step in de-risking this resource area ahead of a construction decision. The results of the drill program are very encouraging and further support the gold grade and vein continuity at Fork which will be necessary for efficient mine planning and any future extraction scenario. The engineering team at Madsen is already working on the initial mine design for this satellite area, and we look forward to continuing to evaluate this non-remnant, near surface opportunity which currently sits a mere 250 metres from our existing underground infrastructure.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.FORK DRILLING HIGHLIGHTS:FIGURE 1. Multiple instances of visible gold in hole WRL-26-047 associated with quartz veining and pyrite + pyrrhotite. Drill core is NQ (47.6 mm) diameter.FIGURE 2. Multiple instances of visible gold in hole WRL-25-036 associated with quartz-diopside veining. Drill core is NQ (47.6 mm) diameter.TABLE 1. Significant intercepts (>1 g/t Au) from 2025-2026 drilling at Fork Deposit.*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. The gold assay results presented are uncapped values. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Internal dilution for composite intervals does not exceed 1m for samples grading 1 g/t Au) from historic drilling at Fork Target.*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. The gold assay results presented are uncapped values. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Internal dilution for composite intervals does not exceed 1m for samples grading 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50g sample. Samples with visible gold are also analyzed via metallic screen analysis (ALS code: AU-SCR24). For multi-element analysis, samples are sent to ALS’s facility in Vancouver, British Columbia and analyzed via four-acid digest with a mass spectroscopy (ICP-MS) finish for 48-element analysis on 0.25g sample pulps (ALS code: ME-MS61). ALS Geochemistry analytical laboratories operate under a single Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017.The Madsen Mine deposit presently hosts a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) Indicated resource of 1.65 million ounces (“Moz”) of gold grading 7.4 g/t Au within 6.9 Mt, and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t Au within 1.8 Mt. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources as stated are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Madsen Mine also contains Probable reserves of 478 thousand ounces (“koz”) of gold grading 8.16 g/t Au within 1.87 Mt. Mineral reserve estimates are based on a gold price of US$1,680/oz. Please refer to the technical report entitled “NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada”, prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025 (the “Madsen Report”).

The Madsen Resource Estimate has an effective date of December 31, 2021, and excludes depletion of mining activity during the period from January 1, 2022, to the mine closure on October 24, 2022, as it has been deemed immaterial and not relevant for the purpose of the Madsen Report. A full copy of the Madsen Report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.MARKETING AGREEMENTThe Company also announces it has entered into a marketing agreement with Euro Pacific Asset Management LLC, on behalf of Peter Schiff (“EPAM”) to provide investor awareness and promotional services in connection with WRLG’s commercial production activities and public market development. EPAM will provide the Company with services which include, commercial reads on podcasts, periodic social media mentions related to gold markets and WRLG developments. The engagement commences upon approval from the TSX Venture Exchange and is for an initial term of 12 months with a fee payable by WRLG to EPAM of USD $75,000 per month, payable in advance for a total campaign budget not exceeding USD $900,000. No securities will be issued as compensation under the agreement. EPAM and its principal Peter Schiff currently hold 700,000 common shares with intent that they may purchase additionally. The Company and EPAM act at arm’s length. The marketing agreement with EPAM is subject to approval from the TSX Venture Exchange.ABOUT WEST RED LAKE GOLD MINESWest Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.ON BEHALF OF WEST RED LAKE GOLD MINES LTD.“Shane Williams”Shane WilliamsPresident & Chief Executive OfficerFOR FURTHER INFORMATION, PLEASE CONTACT:Shane WilliamsCEOTel: (604) 609-6132Email: investors@wrlgold.com or visit the Company’s website at https://www.westredlakegold.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATIONCertain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate”, “expect”, “estimate”, “forecast”, “planned”, and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the potential production of mining operations at the Madsen Mine; the anticipated drilling to occur at Madsen for the remainder of 2026; any untapped growth potential in the Madsen deposit or Rowan deposit; the provision and outcome of the services provided by EPAM, the receipt of approval from the TSX Venture Exchange; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices; and changes in the Company’s business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis for the year ended December 31, 2024, and the Company’s annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.For more information on the Company, investors should review the Company’s continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/8967e0e2-d94d-4a65-aab0-c7b5339beefdhttps://www.globenewswire.com/NewsRoom/AttachmentNg/77c1fd9f-b567-4aad-bf93-0ec270230edehttps://www.globenewswire.com/NewsRoom/AttachmentNg/cb5bcbc4-6ee5-4249-b1fa-aaf7c0d506cfhttps://www.globenewswire.com/NewsRoom/AttachmentNg/f989c648-4279-4bc8-a915-bcc74669adf3https://www.globenewswire.com/NewsRoom/AttachmentNg/8dda6f62-9ccc-4b4f-acee-db5a6b8a3961https://www.globenewswire.com/NewsRoom/AttachmentNg/233923f0-2c0a-44aa-9e0b-9a8fc28e7d40https://www.globenewswire.com/NewsRoom/AttachmentNg/7d178a8c-4bef-433b-82ed-cde55ad6bf6bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d473de64-7667-4268-a740-6159cf1e61a7https://www.globenewswire.com/NewsRoom/AttachmentNg/8279bd74-8b54-4396-b1c1-2bd1a2043d22https://www.globenewswire.com/NewsRoom/AttachmentNg/39870dc7-4d29-460b-b521-83c44a3c6a33https://www.globenewswire.com/NewsRoom/AttachmentNg/b7c5af39-b7fc-49e5-bfa7-5a36cfb84e31https://www.globenewswire.com/NewsRoom/AttachmentNg/afe0fbe5-034e-480a-9bdb-88fdce872382https://www.globenewswire.com/NewsRoom/AttachmentNg/b6dd3211-f147-47db-a158-f06a2f866d6chttps://www.globenewswire.com/NewsRoom/AttachmentNg/2547811f-c88c-45cd-bb63-0709cd4cda75Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.