West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (May 2023)
25 slides from West Red Lake Gold Mines's investor presentation, May 2023
Slide 1: Focused On High Grade Gold In Canada's Red Lake District
Focused On High Grade Gold In Canada’s Red Lake District TSX-V: WRLG OTC: WRLGF
Slide 2: Vision
VISION “Our goal is to continue to build high-grade resources in one of the richest gold districts in Canada.” - Frank Giustra Major shareholder TSX-V: WRLG OTC: WRLGF westredlakegold.com 2
Slide 3: Cautionary Note Regarding Forward-Looking Information
CAUTIONARY NEAR-MINESTATEMENT EXPANSION POTENTIAL Cautionary Note Regarding Forward-Looking Information This presentation contains forward-looking statements" and “forward looking information” (as defined under applicable securities laws). Generally, these forward-looking statements can be identifie
Slide 4: Value Proposition – Acquisition of Madsen Gold Mine
VALUE PROPOSITION – ACQUISITION OF MADSEN GOLD MINE • Acquisition of the fully-permitted, debt-free Madsen gold mine in one of the richest greenstone belts in Canada • Brand-new 800+ tonne per day mill, underground mine, tailings facility and water treatment plant • Significant tax-loss provisions t
Slide 5: Transaction Consideration and Equity Financing
TRANSACTION CONSIDERATION AND EQUITY FINACING Acquisition Consideration Proposed Concurrent Financing C$12M Equity Raise 28.46M Shares C$6.5M 118.60M at $0.35/share 7% TSX-V: WRLG OTC: WRLGF WRLG.V Evolution Mining Closing Price (April 4, 2023) $0.43 14% 52 Week High/Low $0.625/$0.31 Accilent Capita
Slide 6: Transformative Acquisition
TRANSFORMATIVE ACQUISITION >$1 Billion >$350M C$16.5M Acquisition Flagship asset commanded over The Madsen project has had C$16.5M total consideration is $1 Billion in peak market over $350M in investment an all-time low valuation capitalization 300% 200% Infrastructure Future Addition of 1.65 Moz I
Slide 7: Previous Operator History
PREVIOUS OPERATOR HISTORY The primary theme that underpinned Pure Gold’s failure with the Madsen Project was their pursuit of a sale – this drove a majority of their decision-making that was not aligned with the successful operation of the asset, including: 1. Project Financing – Pure Gold took on d
Slide 8: Path Forward
PATH FORWARD De-Risk Resource Restart Planning Restart Execution • Complete additional in-fill drilling • Complete engineering trade-off • Only initiate re-start once the Project focused on near-term, high-grade studies to evaluate mining methods, is sufficiently optimized zones ore transportation o
Slide 9: Target Asset Overview
TARGET ASSET OVERVIEW Madsen Mine Madsen Land Package Proposed Acquisition ❖ As a flagship asset the project commanded ❖ Strategically located 47 km2 land ❖ Cash consideration of C$6.5M a peak market capitalization of > C$1 package in Red Lake District next door Billion to major operators such as Ba
Slide 10: Significant Infrastructure – Over $350M Invested To Date
SIGNIFICANT INFRASTRUCTURE – OVER $350M INVESTED TO DATE UG Equipment Double Ramp Access 1,275 Metre Deep Shaft Expandable 800+ tpd Mill Excess Tailings Capacity Water Treatment Plant TSX-V: WRLG OTC: WRLGF westredlakegold.com 10
Slide 11: Brand New Mill
BRAND NEW MILL • Standard gold CIP flowsheet with significant gravity recovery • Mill constructed and commissioned in 2020 • 800 tpd Mill, permit constrained to 1,089 tpd with expandability potential up to 1,500 tpd with modest investment • Mill achieved 95% gold recovery during first two-years of o
Slide 12: Upgrade and Expand Higher Grade Portions of Resource
UPGRADE AND EXPAND HIGHER GRADE PORTIONS OF RESOURCE Near-term definition drilling will focus on increasing confidence in higher- LOWER GRADE grade portions of the existing resource HIGHER GRADE 8 Zone South Austin Ext Austin Ext TSX-V: WRLG OTC: WRLGF westredlakegold.com 12
Slide 13: Near-Mine Expansion Potential at Madsen
NEAR-MINE EXPANSION NEAR-MINE EXPANSIONPOTENTIAL POTENTIAL AT MADSEN [1] Resource blocks shown have been depleted by mining to resource cut-off date of December 31, 2021. The information used to create this Long Section is from a historical resource estimate pursuant to NI 43-101, and is taken from
Slide 14: Regional Exploration Targets at Madsen
REGIONAL EXPLORATION TARGETS AT MADSEN • Existing Resource in Red • Regional Targets in Yellow 1.7 Moz Au at 7.4 g/t Indicated [1] 0.4 Moz Au at 6.3 g/t Inferred [1] [1] This information is an historical resource estimate pursuant to NI 43-101, and is taken from the report entitled “Independent Tech
Slide 15: Rowan and Madsen Projects
ROWAN AND MADSEN PROJECTS [1] [1] 0.8 Moz inferred resource at Rowan could 0.8 Moz Au at 9.2 g/t Inferred provide high-grade feed to Madsen Mill Production Timeline from Rowan would be greatly accelerated with Madsen Mill Madsen is within trucking distance from Rowan – two main options for haulage S
Slide 16: Summary
SUMMARY Consolidation of • Two Deposits hosting combined, high grade gold resources which remain open for expansion and discovery Red Lake Assets • Combined Land Package of nearly 80 km2 of highly prospective and underexplored ground next door to major operators including Barrick, Kinross, and Evolu
Slide 17: Next Steps – The Madsen Gold Project
NEXT STEPS The Madsen Gold Project Improve ongoing costs Initiate regional exploration Growth investigate accretive associated with maintaining the program focused on discovering opportunities in the area, organically Madsen site in alignment with additional gold ounces grow the existing resource ba
Slide 18: Appendix
Appendix TSX-V: WRLG OTC: WRLGF
Slide 19: Mineral Resource Statement
WESTNEAR-MINE RED LAKEEXPANSION GOLD - MINERAL POTENTIALRESOURCE STATEMENT Mineral Resource Statement – Madsen [1] Classification Deposit - Zone Tonnes Gold Grade (g/t) Gold Troy Ounces Madsen - Austin 4,147,000 6.9 914,200 Madsen -South Austin 1,696,000 8.7 474,600 Madsen - McVeigh 388,700 6.4 79,8
Slide 20: Regional Geology
WESTNEAR-MINE RED LAKEEXPANSION GOLD – REGIONAL POTENTIAL GEOLOGY TSX-V: WRLG OTC: WRLGF westredlakegold.com 20
Slide 21: Property Geology
WESTNEAR-MINE RED LAKEEXPANSION GOLD – PROPERTY POTENTIAL GEOLOGY Mt Jamie Rowan Red Summit NT Zone TSX-V: WRLG OTC: WRLGF westredlakegold.com 21
Slide 22: Property Structure
WESTNEAR-MINE RED LAKEEXPANSION GOLD – PROPERTY POTENTIAL STRUCTURE Mt Jamie Rowan Red Summit NT Zone Regional Structures D2 E-W Faults TSX-V: WRLG OTC: WRLGF westredlakegold.com 22
Slide 23: Rowan Longitudinal Section
WESTNEAR-MINE RED LAKEEXPANSION GOLD – ROWAN LONGITUDNAL SECTION POTENTIAL [1] December 2022 Block Model – Blocks Displayed at 3 g/t Au cutoff Au (g/t) Section Looking North [1] Mineral Resources are estimated at a cut-off grade of 3.8 g/t Au and using a gold price of US$1,600/oz. Please refer to th
Slide 24: Highly Experienced Management Team and Board
HIGHLY EXPERIENCED MANAGEMENT TEAM AND BOARD Chairman & CEO CFO P.Geo - VP Exploration VP Corporate Development Tom Meredith Jasvir Kaloti Will Robinson Amandip Singh Directors P.Eng - Director P.Geo - Director Director P.Geo - Director Ryan Weymark John Heslop Susan Neale Robert van Egmond Special
Slide 25: Thank You
THANK YOU Suite 3123 - 595 Burrard Street Investor Relations: 416-203-9181 x4600 Vancouver, BC V7X 1J1 Canada Email: investors@westredlakegold.com Office: 604-609-6110 TSX-V: WRLG OTC: WRLGF
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