West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (May 2023)
27 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 May 2023 Investor Presentation TSX-V: WRLG OTCQB: WRLGF
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Some Of The Statements Contained In This Presentation Are “Forward-looking Statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from the antic
Slide 3: 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 OTCQB: WRLGF westredlakegold.com 3
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 • Tax-loss provisions to be include
Slide 5: Transformative Acquisition
TRANSFORMATIVE ACQUISITION >$1 Billion >$350M Acquisition Terms Flagship asset commanded over The Madsen project has had C$ 6.5 Cash, 40.73M WRLG $1 Billion in peak market over $350M in investment shares, 1% NSR on Madsen capitalization Mine and US$ 6.8M deferred 300% 200% Infrastructure Future Mine
Slide 6: Transaction Consideration and Equity Financing
TRANSACTION CONSIDERATION AND EQUITY FINANCING Acquisition Consideration Concurrent Subscription Receipts C$25M Equity Raise 40.73M Shares C$6.5M 171.8M at $0.35/share *Additional consideration includes 1% NSR and US$6.8M in deferred payments 7% TSX-V: WRLG OTCQB: WRLGF WRLG.V Evolution Mining (As o
Slide 7: Previous Operator Challenges
Previous Operator Challenges 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 o
Slide 8: Path Forward - Madsen Gold Project
PATH FORWARD- Madsen Gold Project 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
Slide 9: Target Asset Overview - Madsen Gold Project
TARGET ASSET OVERVIEW- Madsen Gold Project 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
Slide 10: Significant Infrastructure – Over $350M Invested to Date at Madsen
SIGNIFICANT INFRASTRUCTURE – OVER $350M INVESTED TO DATE AT MADSEN UG Equipment Double Ramp Access 1,275 Metre Deep Shaft Expandable 800+ tpd Mill Excess Tailings Capacity Water Treatment Plant TSX-V: WRLG OTCQB: WRLGF westredlakegold.com 10
Slide 11: Brand New Mill - Madsen Gold Project
BRAND NEW MILL- Madsen Gold Project • 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
Slide 12: Regional Exploration Targets at Madsen
REGIONAL EXPLORATION TARGETS AT MADSEN • Existing Resource in Red • Regional Targets in Yellow 2023 1.7 Moz Au at 7.4 g/t Indicated [1] 0.4 Moz Au at 6.3 g/t Inferred [1] Madsen Gold Mine [1] This information is an historical resource estimate pursuant to NI 43-101, and is taken from the report enti
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: Upgrade and Expand Higher Grade/Tonnage Portions of Resource
UPGRADE AND EXPAND HIGHER GRADE/TONNAGE PORTIONS OF RESOURCE LOWER GRADE HIGHER GRADE 8 Zone South Austin Ext Austin Ext TSX-V: WRLG OTCQB: WRLGF westredlakegold.com 14
Slide 15: Acquisition Summary
ACQUISITION 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, Kinros
Slide 16: 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 17: 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 18: Rowan Gold Project
ROWAN GOLD PROJECT ROWAN Gold Price of gold: $1600: $US Exchange rate US$: CDN $0.78; Block cutoff grade: 3.8 gpt Au; Numbers may differ due to rounding Tonnes Grade g/pt Au Contained oz. Au Inferred Resource 2,790,700 9.2 827,462 100% owned and operated by West Red Lake Gold Mines. Comprised of 3 p
Slide 19: Regional Geology - Rowan
REGIONAL GEOLOGY- NEAR-MINE Rowan EXPANSION Gold Project POTENTIAL Madsen Mine TSX-V: WRLG OTCQB: WRLGF westredlakegold.com 19
Slide 20: Property Geology and Structure - Rowan Gold Project
PROPERTY GEOLOGY NEAR-MINE ANDPOTENTIAL EXPANSION STRUCTURE- Rowan Gold Project Mt Jamie Rowan Red Summit NT Zone Regional Structures D2 E-W Faults TSX-V: WRLG OTCQB: WRLGF westredlakegold.com 20
Slide 21: Longitudinal Section - Rowan Mine Deposit
LONGITUDNAL NEAR-MINE SECTION- Rowan Mine Deposit EXPANSION 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 the tec
Slide 22: 2023 Exploration Plan & Targets
2023 EXPLORATION PLAN & TARGETS Red Summit Target Mt. Jamie Mine Rowan West Large Diorite stock NE of historic Red Untested, segment of the Mt. Jamie Intersection of the 10,000 vein (south Summit Mine. Located in flexure of a structure where it intercepts a strike extent of the Rowan No. 1 Vein) maj
Slide 23: 2023 Exploration Plan & Targets
2023 EXPLORATION PLAN & TARGETS 1 Q2 CY 2023 • Re-processing and Re-Interpreting historic data • Property wide High-Resolution LiDAR survey • 7000m of oriented core diamond drilling 2 H2 CY 2023 • Data interpretation • Property wide mapping and sampling • Geologic and Structural modelling • Enhanced
Slide 24: Thank You
THANK YOU Suite 3123 - 595 Burrard Street Investor Relations: 416-203-9181 x4650 Vancouver, BC V7X 1J1 Canada Email: investors@westredlakegold.com Office: 604-609-6110 TSX-V: WRLG OTC: WRLGF
Slide 25: Appendix
Appendix TSX-V: WRLG OTC: WRLGF
Slide 26: Highly Experienced Team
HIGHLY EXPERIENCED TEAM Management • Chairman & CEO- Tom Meredith • CFO- JasvirDirectors Kaloti • VP, Exploration- Will Robinson, P.GEO • VP, Technical Services- Maurice Mostert, P. ENG Special Advisors • VP, Community Affairs- Derek Teevan • VP, Corporate Development- Amandip Singh • Robert McLeod
Slide 27: 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
West Red Lake Gold Mines — Investor Presentation (May 2023) on 6ix