West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (May 2024)
25 slides from West Red Lake Gold Mines's investor presentation, May 3, 2024
Slide 1: West Red Lake Gold Mines
TSX-V:WRLG OTCQB: WRLGF FRA: UJ0
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: Our Vision
OUR 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 FRA: UJ0 WEST RED LA KEGO LD .C O M 3
Slide 4: West Red Lake district map
’ i Lo Be eee WEST RED LAKE GOLD MINES 7 @ Phoenix a= f f P ys *< Cochenour Gi West Red Lake Evolution Mining Ml Yamana 1 Equinox Pacton Dixie Gold | Red Lake Gold West Red Lake Target Ml Nexus Metals @® Operating Mine Bounty Gold - % Past Producer {MN Goldon Resources Z , GB Prospect
Slide 5: The Madsen Gold Project
THE MADSEN GOLD PROJECT Reduce DeRisk Resource Restart Planning Restart Execution Initiate Commitment Reduce ongoing liabilities Complete additional in-fill Complete engineering trade- Only initiate re-start once the Initiate regional exploration West Red Lake team will associated with drilling focu
Slide 6: Transformative Acquisition
TRANSFORMATIVE ACQUISITION >$1 Billion >$350M Acquisition Terms Flagship asset commanded over The Madsen project has had over $350M C$6.5M cash, 40.73M WRLG shares, $1 Billion in peak market capitalization in investment 1% NSR on Madsen Mine and US$6.8M deferred Madsen Project 80 km² Infrastructure
Slide 7: 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 FRA: UJ0 WEST RED LA KEGO LD .C O M 7
Slide 8: 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 9: Previous Operator Challenges
PREVIOUS OPERATOR CHALLENGES The primary theme that underpinned the failure with the Madsen Project was the pursuit of a sale – this drove a majority of their decision-making that was not aligned with the successful operation of the asset, including: 01. Project Financing – Prior operator took on de
Slide 10: Path Forward - Madsen Gold Project
PATH FORWARD- Madsen Gold Project De-Risk Resources Restart Planning Restart Execution • Complete additional in-fill drilling • Complete engineering trade-off studies to • Only initiate re-start once the Project is focused on near-term, high-grade evaluate mining methods, ore transportation sufficie
Slide 11: Transformative Growth
Transformative Growth Top Tier Assets, Top Tier Jurisdictions Red Lake Mine – Newmont/Goldcorp/Evolution • 1995 production 53,876 oz @ 8.1 g/t Au • 1996 high grade discovery @ ~1400 m depth • 2004 production 552,000 oz @ 77.1 g/t Au Macassa Mine – Kirkland/Agnico Eagle • 2000’s average production 31
Slide 12: High Grade Mine Expansion Potential at Madsen
HIGH GRADE MINE EXPANSION POTENTIAL AT MADSEN [1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canad
Slide 13: Red Lake Systems Have Deep Roots
Red Lake Systems Have Deep Roots Madsen Defined Down to 1.3km Depth with +3km Depth Potential Note: Conceptual mineralization shapes indicated are conceptual only and have been interpreted from very limited drilling data including re-logging of drill hole AD-11-01. Mine Deposit Projected Mineralizat
Slide 14: TSX-V: WRLG OTCQB: WRLGF FRA: UJ0
[1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc. a
Slide 15: Seismic surveys show structure
Seismic surveys show structure. Gaining traction as a technique to explore orogenic gold systems in Canada The seismic anomaly tracking the mineralized structure at Madsen is clear and aligns exactly with historic hole PG17-456 that returned 34.6 g/t Au over 4.3 m [1] Mineral resources are estimated
Slide 16: High Grade 8-Zone
High Grade 8-Zone Our Potential Game Changer Drilling 8 Zone from underground planned in Q2 2024 Goldcorp HGZ Discovery Madsen 8-Zone (1995) • Quartz veins in flexure Geologic • Quartz veins in flexure along along mafic-ultramafic Setting mafic-ultramafic contact contact • 4.3m at 466 g/t Au Key Dri
Slide 17: Management, Board of Directors and Advisors
Management Board of Directors Shane Williams Harpreet Dhaliwal Will Robinson Tom Meredith Anthony Makuch Duncan Middlemiss President & CEO CFO P.GEO - VP Executive Chairman, Director Director Director Exploration Maurice Mostert Derek Teevan Jasvir Kaloti Hugh Agro John Heslop Susan Neale P.ENG – VP
Slide 18: Capital Structure
CAPITAL STRUCTURE TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD .C O M 18
Slide 19: Regional Exploration Targets at Madsen
REGIONAL EXPLORATION TARGETS AT MADSEN [1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, pre
Slide 20: Rowan – High Grade Deposit Next Door
ROWAN – HIGH GRADE DEPOSIT NEXT DOOR 195 koz @ 12.87 g/t Au [2] Indicated resource at Rowan could provide high-grade feed to Madsen Mill Looking to Permit collecting baseline data for application efficiency if decision is made to mine Rowan Project Madsen Ind: 195 koz Au @ 12.87 g/t is within trucki
Slide 21: Rowan Gold Project
ROWAN GOLD PROJECT Tonnes Grade g/t Au Contained oz. Au 100% owned and operated by Indicated West Red Lake Gold Mines. Resource 476,323 12.87 195,746 [1] Mineral Resources are estimated at a cut-off grade of 3.8 g/t Au and using a gold price of Comprised of 3 past producing US$1,800/oz. Please refer
Slide 22: Deposit Scale Geology – Rowan Mine Deposit
DEPOSIT SCALE GEOLOGY – Rowan Mine Deposit TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD .C O M 22
Slide 23: 2024 Drill Program Focused on Growth at Rowan Mine Deposit
2024 Drill Program Focused on Up to 15,000 meters planned targeting high-priority expansion Growth at Rowan Mine Deposit areas (1) Mineral Resources are estimated at a cut-off grade of 3.8 g/t Au and using a gold price of US$1,800/oz. Please refer to the technical report entitled “Updated Mineral Re
Slide 24: Current Resources
CURRENT RESOURCES 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 79,800 Indicated Madsen- 8 Zone 152,000 18 87,700 Fork 123,800 5.3
Slide 25: Contact
TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WESTRED LA KEGO LD .CO M Shane Williams Suite 3123 - 595 Burrard Street President & CEO @WestRedLakeGold Vancouver, BC V7X 1J1Canada 1-778-899-1707 Office: 604-609-6110 West Red Lake Gold Mines Ltd. swilliams@wrlgold.com Investor Relations: 416-203-9181 Email: inves
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