This multi-asset approach is designed to provide greater operational flexibility, expand margins, extend mine life, and support a larger production profile over time.
Vancouver, BC, 9th Nov 2026 – Global Stocks News – Sponsored content disseminated on behalf of West Red Lake Gold. On November 4, 2026, West Red Lake Gold Mines (TSXV: WRLG) (OTCQX: WRLGF) reported the results of an integrated Red Lake Pre-Feasibility Study (PFS) for the Madsen Mine and Rowan Project in the Red Lake Gold District of northwestern Ontario, Canada.
West Red Lake Gold is pursuing a hub-and-spoke growth strategy. The Madsen mill and infrastructure are intended to serve as a central processing hub for multiple past-producing, high-grade deposits across the Red Lake District.
This multi-asset approach is designed to provide greater operational flexibility, expand margins, extend mine life, and support a larger production profile over time.
“The integrated mine plan builds on the more cost-efficient long-hole mining methods already being implemented at Madsen,” stated Shane Williams, WRLG President and CEO, in the November 4 press release, “While taking advantage of our existing mill and infrastructure while supplying high-grade feed from the Rowan property.”
“This is the advantage of having a fully permitted operating mine and mill at the centre of our growing high-grade resource base,” continued Williams. “This is a defined base case at a point in time. It does not capture the full opportunity across our Red Lake portfolio. Our priority is to execute this plan consistently while continuing to expand the mining inventory that can support further growth as we transition from a single-asset operation to a multi-asset producer in Red Lake.”
On November 4, 2026, at 8:00 am Vancouver time, Williams provided further context on the PFS in a webcast later published on YouTube.
“Historically, in Red Lake, there have been a lot of small-run mines,” stated Williams in the webcast. “We saw the opportunity to consolidate this district. This is the first stage of that strategy. We can get to over 100,000 ounces of gold production a year once Rowan comes into production, with a reasonably small capex.”
“We used a $3,500 long-term gold price. A 10% increase in gold prices generates an increase in the NAV by around 31%.”
“We plan to ramp up Madsen over the next number of years into 2027 and 2028,” continued Williams. “In the meantime, we’re developing the Rowan property. We’ve done a lot of exploration drilling. We published a PEA projecting 35,000 ounces a year, and we think we can push that to 50,000 ounces a year. Rowan’s diluted grade is around that nine-gram number. Madsen stays around six grams. The combined average grade between the two operations is around 6.8 to 7 grams per tonne.”
“Both Madsen and Rowan, and most mines in the Red Lake region, have high fixed costs. As the gold price rises or production ramps up, the All-In Sustaining Cost (AISC) comes down. Our AISC is around $2,400 to $2,500 per ounce. Our capex to develop this project is around $200 million.”
“We have some tailings work to do,” added Williams. “We have some infrastructure to do, and we want to get the mill to 1,350 tonnes per day, which allows that material to grow and allows the mill to grow. So there is some additional capex, which was not in the PEA of Rowan, which has been added now into this PFS to show that growth profile over time.”
“The focus will be over the next number of years to grow both of those ore bodies to extend to 100,000 ounces a year,” continued Williams. “We now have just under a million ounces of reserves. That’s about an 85% increase from our last pre-feasibility study. We now have a 10-year mine life, giving Madsen and Rowan a longer runway together. We’ve also done about 65,000 meters of drilling in 2026, which has not been included or updated into these reserves and resources.”
Integrated Mine Plan and Production Schedule
The Integrated PFS combines production from the Madsen Mine and Rowan Project, leveraging existing processing infrastructure at Madsen to support increased production and operational efficiencies.
Madsen Mine: Madsen provides the foundation of the integrated mine plan, with continued underground development focused on expanding mining fronts and accessing higher-grade, non-remnant areas. The plan incorporates long-hole stoping, shaft refurbishment and material-handling improvements to support consistent production and increased mining capacity.
Rowan Project: Rowan is expected to commence development in 2028, with first gold production anticipated in 2029. The project will utilize long-hole mining methods, targeting a steady-state mining rate of approximately 500 tonnes per day (tpd) over 6 years. Ore will be transported by road to Madsen for processing, minimizing additional infrastructure requirements.
Integrated Processing: The Madsen mill will process ore from both operations, with throughput increasing as Rowan enters production. The plan contemplates steady-state throughput of 1,350 tpd, supported by targeted upgrades to the grinding, gravity, thickening, leach and CIP circuits and the necessary permitting amendments. WRLG will manage blending of ore from both deposits to optimize mill performance and metallurgical recoveries.
A key advantage of Rowan is that the infrastructure and permitting requirements associated with its relatively small Advanced Exploration footprint are expected to closely align with those required for future mining operations, providing a streamlined pathway to development.
Under the integrated mine plan, Rowan will process mineralized material at the existing Madsen mill, with associated tailings managed at the Madsen Mine site.
Qualified Persons
Grant Carlson, P.Eng. Fuse Advisors Inc. Professional Registration: Engineers and Geoscientists of British Columbia #39395. Area of Responsibility: mining and infrastructure
John Sims, P. Geo. Sims Resource LLC. Professional Registration: American Institute of Professional Geologists CPG-10924. Area of Responsibility: resource estimate and modeling.
Travis O’Farrell, P.Eng. Fuse Advisors Inc. Professional Registration: Engineers and Geoscientists of British Columbia #46026. Area of Responsibility: processing and metallurgy (and associated cost estimate)
Daniel Ruane, P.Eng. Knight Piesold Ltd. Specialist Engineer. Professional Registration: Engineers and Geoscientists of British Columbia #42894. Area of Responsibility: waste rock and water management, site-wide water balance (and associated cost estimate)
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, and by Hayley Halsall-Whitney, P.Eng., Vice President of Operations for West Red Lake Gold and the Qualified Person for technical services at the West Red Lake Project, as defined by NI 43-101.
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West Red Lake Gold CEO Discusses Integrated Madsen Mine and Rowan Project PFS
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