West Red Lake Gold Reports Q1 2026 Financial Results and Operations Summary

About this update from West Red Lake Gold Mines Ltd

VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) announces its financial and operating results for the three months ended March 31, 2026 (“Q1 2026”). The Company also provides an operational update for Q1 2026 on the post commercial ramp up of the Madsen Mine (“Madsen”) located in the Red Lake mining district of Ontario. The Company will hold a webcast to discuss the results. Please refer to the webcast details provided near the end of this release for information on how to attend. All amounts are expressed in Canadian dollars (‘C$), unless otherwise indicated. Q1 2026 Highlights Produced 5,667 ounces of gold Sold 6,165 ounces of gold at an average realized gold price(2) of US$4,938(1) Revenue of $41.8 million generating $15.3 million of income from mine operations Adjusted net earnings(2) of $6.4 million, or $0.02 per basic share EBITDA(2) of $3.3 million and adjusted EBITDA(2) of $14.4 million was generated Cash cost(2) US$2,594(1) and all-in sustaining cost (“AISC”)(2) US$ 4,678(1) Quarter end cash balance of approximately $35.9 million Financial key results for three months ended March 31, 2026(expressed in thousands of Canadian dollars, unless otherwise stated) Operating Statistics Units For the three months ended, March 31, 2026  Gold produced ounces 5,667  Gold sold ounces 6,165  Average realized gold price(1) US$/ounce 4,938        Financial Information     Gold revenue $ 41,755  Income from mining operations $ 15,289  Operating margin % 37%  EBITDA(2) $ 3,285  Adjusted EBITDA(2) $ 14,398  Adjusted net earnings(2) $ 6,376  Adjusted earnings per share – basic(2) $ 0.02  Sustaining capital(2) $ 15,365  Growth capital(2) $ 3,612  Cash cost per gold ounce sold(1),(2) US$/ounce 2,594  AISC per gold ounce sold(1),(2) US$/ounce 4,678  Cash and cash equivalents $ 35,917  (1)Foreign exchange rate of CAD$/USD$ 1.3717(2) Refer to Non-IFRS Measures Shane Williams, President and CEO, commented, “This first quarter represents the initial phase of our post commercial production ramp up at Madsen and I am proud of the focus, operational discipline and strong safety culture demonstrated by our teams dur...

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