West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (November 2023)
21 slides from West Red Lake Gold Mines's investor presentation, Nov 17, 2023
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: Management and Board of Directors
Management Board of Directors Shane Williams Harpreet Dhaliwal Derek Teevan Amandip Singh Tom Meredith Anthony Makuch Duncan Middlemiss President & CEO CFO VP – Community Affairs VP Corporate Executive Chairman, Director Director Director Development Will Robinson Maurice Mostert Jasvir Kaloti Hugh
Slide 6: 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 7: Transformative Acquisition
TRANSFORMATIVE ACQUISITION >$1 Billion >$350 M Acquisition Terms Flagship asset commanded over $1 The Madsen project has had over C$ 6.5M Cash, 40.73M WRLG shares, Billion in peak market capitalization $350M in investment 1% NSR on Madsen Mine and US$ 6.8M deferred 300% 200% Infrastructure Future Mi
Slide 8: 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 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: 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 11: 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 12: Upgrade and Infill Higher Grade/Tonnage Portions of Resource to Derisk
UPGRADE AND INFILL HIGHER GRADE/TONNAGE PORTIONS OF RESOURCE TO DERISK LOWER GRADE HIGHER GRADE 8 Zone South Austin Ext Austin Ext TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 12
Slide 13: 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 14: 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 15: Rowan and Madsen Projects
ROWAN AND MADSEN PROJECTS 0.8 Moz Au at 9.2 g/t Indicated[1] 0.8 Moz [1]inferred resource at Rowan could provide high-grade feed to Madsen Mill Production Timeline from Rowan would be greatly accelerated with Madsen Mill Inf: Madsen is within trucking distance from Rowan – two main options for haula
Slide 16: Rowan Gold Project
ROWAN GOLD PROJECT [1] Mineral Resources are estimated at a cut-off 100% owned and operated by Tonnes Grade g/t Au Contained oz. Au grade of 3.8 g/t Au and using a gold price of West Red Lake Gold Mines. Inferred US$1,600/oz. Please refer to the technical Comprised of 3 past producing Resource 2,790
Slide 17: Property Geology and Structure - Rowan Gold Project
PROPERTY GEOLOGY AND STRUCTURE - Rowan Gold Project Mt Jamie Rowan Red Summit NT Zone Regional Structures D2 E-W Faults TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 17
Slide 18: Property Geology and Structure - Rowan Gold Project
PROPERTY GEOLOGY AND STRUCTURE - Rowan Gold Project December 2022 Block Model – Blocks Displayed at 3 g/t Au cutoff (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 technical report entitled “Technical Report and Resource
Slide 19: Capital Structure
CAPITAL STRUCTURE TSX-V: WRLG OTCQB: WRLGF FRA: UJ0 WEST RED LA KEGO LD . C O M 19
Slide 20: 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 21: 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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