VANCOUVER, British Columbia, April 29, 2024– (“West Red Lake Gold” or “WRLG” or the “Company”) () () is pleased to announce its 2024 strategy for regional exploration activities across its 100% owned Madsen and Rowan Properties, both located in the Red Lake Gold District of Northwestern Ontario, Canada.

Regional mapping and geochemical sampling will be conducted at Madsen with a focus on the Confederation Assemblage of rocks, which has seen very little exploration work since 2014 (Figures 1 & 2). This work is expected to commence in May 2024. Up to 15,000m of surface drilling is planned to be completed at the Rowan Mine deposit with focus on growth and expansion on the existing high-grade mineral resource (Figure 4) – as previously announced on . This drill program is fully funded up to C$4.5M and is expected to commence in early June. Regional mapping and geochemical sampling will be done across the Rowan property to start generating new targets for potential future drill testing. This work is expected to commence in June 2024.

Will Robinson, Vice President of Exploration, stated, “Our team is very excited to get back out into the field in 2024 at our Madsen and Rowan properties. The underground drills at Madsen will continue de-risking the resource while taking full advantage of near-mine expansion opportunities, while our field crews will be focused on reconnaissance-level work within the greater Madsen land package to continue generating and advancing new targets for the exploration pipeline. Of particular interest is the exploration potential that could exist within the Confederation package of rocks which remains mostly unexplored but represents approximately 50% of the land package at Madsen. We have enough geologic evidence from previous work to demonstrate the prospectivity within the Confederation rocks and we aim to gain a better understanding of the mineralizing controls and economic potential over this part of the Madsen land package. With drills soon to be turning at both of our Red Lake properties we look forward to delivering a steady stream of positive results throughout 2024.”

FIGURE 1. Plan map showing density of surface sampling data collected during 2014-2022 across the Madsen property. Note the paucity of data within the Confederation Assemblage of rocks leaving this area mostly unexplored.

Most historic exploration work and drilling across the Madsen property, and within the greater Red Lake district, has been almost exclusively focused on the Balmer Assemblage of rocks. The Confederation rock package was mostly ignored and considered non-prospective for hosting significant gold mineralization. The discovery of the LP Fault and Hinge Zones at Dixie Lake in 2016 (24km SSE of Madsen) forced the geologic community to re-evaluate this narrative, and the WRLG exploration team is taking full advantage of the exploration potential that still exists within the Confederation rocks at Madsen – which cover approximately 50% of the 47 square kilometer (“sq. km.”) land package and remain mostly unexplored.

A full-scale regional program over the Confederation rocks has been planned for the 2024 field season which will include detailed geologic mapping and geochemical sampling to begin unlocking the full exploration potential of the entire Madsen property (Figure 2). Mapping and sampling within the Confederation will be focused on three main areas:

1) North Shore

Poorly mapped area in highly favorable geologic setting between Russet Lake ultramafic and Balmer-Confederation unconformity. South of this zone, multiple mineralized shears crosscut stratigraphy (eg. Austin Zones, Starratt, Wedge, Fork, etc.). Focus will be on exploration for additional similar shear zones.

2) Confederation North

This area remains mostly untested. Hosts some known mineral occurrences such as the high-grade #1 Vein, which was the original area being mined at Madsen before discovery of the surface expression of the Austin Zone. Objective will be to search for manifestation of known shear zones in the Balmer (eg. Starratt, Madsen, Derlak, etc.) projected into favorable contacts and geologic settings within the Confederation.

3) Confederation South

Hosts some known occurrences such as historic Faulkenham shaft. Focus will be on mafic-felsic contact areas.

This strategy is representative of WRLG’s systematic and disciplined approach to exploration and target generation.

Figure 2. Plan map showing the proposed layout of soil sampling and reconnaissance grids at Madsen. The North Shore grid area is denoted by green sample sites. The Confederation North grid area is denoted by red sample sites. The Confederation South grid area is denoted by purple sample sites.

At the Rowan property, there has been very little regional exploration work completed since the 1980’s and early 1990’s when Goldquest Exploration, Inc. (which eventually amalgamated with Goldcorp, Inc.) conducted a number of regional exploration campaigns that included mapping, sampling, dozer stripping and drilling. Since that time, most of the work completed on the property has consisted of various drill programs at the Rowan Mine, Mount Jamie Mine, Red Summit Mine and along the NT Zone.

WRLG completed a preliminary orientation till sampling survey at Rowan in 2023 that consisted of 334 till samples collected on 50m spaced north-south lines, and 100m spaced east-west lines (Figure 3). Samples were collected using “Dutch” style hand augers with a maximum 2m sampling depth possible. OREAS 46 certified reference material (CRM) and duplicate field samples were inserted into the sequence at a 5% rate for each QA/QC sample type in the field. Post-field collection, samples were transported to ALS Vancouver for preparation and analysis. All samples were dried to 60°C to reduce loss of volatile mercury and arsenic, sieved to -180 +63 micron (μm) and -63 μm fraction data subsets before undergoing AR_ICP-MS digestion and analysis. Review of assay data shows both datasets returned high quality, usable data, with the -63 μm dataset returning a preferential return in quality based on cumulative frequency probability plots and Tukey plotting of gold and pathfinders in parts per million (ppm) values. Exploratory Data Analysis via P