West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (July 2024)
28 slides from West Red Lake Gold Mines's investor presentation, Jul 5, 2024
Slide 1: West Red Lake Gold Mines
TSX-V:WRLG OTCQB: WRLGF FRA: UJ0
Slide 2: Disclaimer
DISCLAIMER This presentation of West Red Lake Gold Mines Ltd. (“WRLG”, “West Red Lake” or the “Company”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for any securities. The informa
Slide 3: Future Oriented Financial Information
FUTURE ORIENTED FINANCIAL INFORMATION To the extent any forward-looking information in this presentation constitutes “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the antici
Slide 4: Our Vision
OUR VISION Our goal is to restart the Madsen Mine while continuing to build high-grade resources in one of the richest gold districts in Canada. Every mining company starts with one good mine. Frank Giustra Major shareholder TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 4
Slide 5: The Red Lake district has produced 30 million ounces of gold
• The Red Lake district has produced 30 million ounces of gold – and counting. v • The district is renowned for high-grade gold in structures with significant depth extent 5
Slide 6: Madsen Timeline
Madsen Timeline ($42M TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 6
Slide 7: Madsen Mine Acquisition
MADSEN MINE ACQUISITION >$1 Billion Future Flagship asset commanded over Unlock value with robust new mine plan developed by $1 Billion in peak market capitalization experienced operators with strong shareholder support >$350M The Madsen project has had over $350M in investment Acquisition Terms C$6
Slide 8: What We Bought
WHAT WE BOUGHT 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 8
Slide 9: 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 10: What We're Doing: Geology & Infill Drilling
WHAT WE’RE DOING • Vein system has been altered, deformed, and reactivated repeatedly - gold is high grade and pervasive within the alteration package (blue Geology & Infill Drilling dashed lines) but not always continuous • Answer: tight drilling & informed, accurate geologic model 10
Slide 11: What We're Doing: Accurate Geologic Modelling
WHAT WE’RE DOING • Madsen started to produce in line with estimates near the end of its 2020-2022 campaign because improved geologic interpretation & Accurate Geologic Modelling more detailed modelling enabled more accurate mining. • WRLG is building on that workflow for success TSX-V: WRLG OTCQB: W
Slide 12: What We're Doing: Drilling
WHAT WE’RE DOING Drill results shown are not in the current resource estimate – good potential to add ounces within and close to known zones Drilling 1 (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
Slide 13: Infill Drilling: Confirming and Extending Known Zones
INFILL DRILLING Confirming and extending known zones TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 13
Slide 14: Infill Drilling: Finding New
INFILL DRILLING Finding New South Austin drilling intersected new mineralized lens adjacent to mine workings Multiple high-grade intercepts over 100m strike; open along strike & to depth Little brownfields exploration – potential to find new zones by drilling past known domains into prospective geol
Slide 15: Preparing to Mine
• West Portal: decline is steep and relatively inefficient for trucking. Portal is only 4x4 ft, PREPARING TO MINE which cannot accommodate trucks larger than 30 tonnes • East Portal + Connection Drift: decline is more gradual with fewer corners. Can Connection Drift accommodate trucks up to 60 tonne
Slide 16: Derisking: Test Mining
DERISKING There is a variety of mining environments at Madsen: unmined areas with range of widths, resource adjacent to backfilled stopes, resource adjacent to void stopes. Test Mining Test mining will help • Derisk mining of known resources • Understand additional resource potential within buffer z
Slide 17: Preparing for Operations
Preparing for Operations Surface Infrastructure Primary crusher: En route to replace leased item that created inefficiencies Camp: Building 100-person camp on site to house non-resident workers and contractors. Efficient for WRLG and attractive for employees Operational Readiness: Mine dry and mecha
Slide 18: The Goal: Production in H2 2025
The Goal: Production in H2 2025 PFS in early 2025 but major mine restart projects will be well underway or done when PFS comes out TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 18
Slide 19: Developer to Producer
Developer to Producer WRLG is being valued as a development story. Price to Net Asset Value Ratios for Gold Stocks The market rewards production and scale with higher multiples. Developers trade at a substantial discount. (Source: Raymond James) (Source: Ron Stewart, AuCu Consulting) TSX-V: WRLG OTC
Slide 20: 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 21: 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. While it is geologically reasonabl
Slide 22: Deep targets drilled from underground
• Deep targets are better drilled from underground – short holes from v good angles are cost effective, efficient, and accurate [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 T
Slide 23: 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 24: 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 contact mafic-ultramafic contact • 4.3m at 466 g/t Au Key Dri
Slide 25: Management and Board of Directors
Management Board of Directors Shane Williams Harpreet Dhaliwal Will Robinson Jason Billan Tom Meredith Anthony Makuch Duncan Middlemiss President & CEO CFO P.GEO - VP VP Corporate Executive Chairman, Director Director Director Exploration Development Gwen Preston Maurice Mostert Derek Teevan Jasvir
Slide 26: Capital Structure
CAPITAL STRUCTURE As of 5 July 2024 * $174 M $44 M TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 26
Slide 27: 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 28: Contact
TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WESTRED LA KEGO LD .CO M Suite 3123 - 595 Burrard Street Shane Williams Vancouver, BC V7X 1J1 Canada President & CEO @WestRedLakeGold Office: 604-609-6110 1-778-899-1707 West Red Lake Gold Mines Ltd. Investor Relations: 416-203-9181 swilliams@wrlgold.com Email: inve
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