VANCOUVER, British Columbia, July 15, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. ("West Red Lake Gold" or "WRLG" or the "Company") (TSXV: WRLG) (OTCQX: WRLGF) is pleased to provide an operational update for the second quarter ended June 30, 2026 ("Q2 2026" or "Q2") highlighting meaningful progress in the ramp up of the Madsen Mine ("Madsen" or the "Mine") located in the Red Lake mining district of Ontario.
Q2 Operating Highlights
- Mined tonnage increased 46% to 75,524 tonnes in Q2 from 51,616 tonnes in Q1, while mined ounces increased 73% to 10,459 ounces from 6,033 ounces in the first quarter ("Q1 2026" or "Q1"), reflecting both higher mining rates and an increase in average mined grade.
- Gold production totaled 8,576 ounces during Q2 2026, representing a 51% increase from the 5,667 ounces produced in Q1 2026.
- Due to increased mine productivity a surface stockpile of approximately 10,768 tonnes had been generated by the end of Q2 representing approximately 1,500 contained ounces of gold based on estimated grades.
- The mill achieved average processing rates of approximately 842 tonnes per day ("tpd"). Over the second half of 2026, processing rates are expected to increase to approximately 1,000 tpd.
Shane Williams, President and CEO, commented, "Q2 demonstrated that the development-focused strategy implemented during the first half of 2026 is translating into measurable operating improvements as mine sequencing advanced to unlock multiple stoping fronts and operational flexibility continued to improve."
"During the quarter, the mill sustained processing rates of approximately 842 tpd while underground mining rates averaged 878 tpd earlier in the quarter, however from mid quarter onward we mined over 1,000 tpd, allowing us to build a surface stockpile equivalent to approximately half a month of mill feed inventory. Our ability to generate a stockpile of this size speaks to the operational efficiency of the team and our ability to mine at rates that exceed the currently permitted mill throughput of 800 tpd. Mining rates in excess of current mill capacity are an important indicator that the Mine is developing greater flexibility and overall consistency for sustained operations."
"As processing rates during the first half of the year reflected the early stages of the ramp up, we expect throughput to continue increasing over the balance of the year toward a sustained processing rate of up to 1,000 tpd. The operational improvements demonstrated during Q2 reinforces our view that Madsen remains on track to achieve full-year production guidance of 35,000 to 45,000 ounces of gold."
Operational results for the three months ended June 30, 2026
| Operating Statistics | Units | Q1 2026 | Q2 2026 | % Change | YTD | ||||
| Gold produced | ounces | 5,667 | 8,576 | 51% | 14,243 | ||||
| Ore Mined | tonnes | 51,616 | 75,524 | 46% | 127,140 | ||||
| Average Grade (Gold "Au") | g/t | 3.5 | 4.3 | 23% | 4.0 | ||||
| Mined Ounces | ounces | 6,033 | 10,459 | 73% | 16,492 | ||||
| Average Mining Rate | tonnes | 573 | 878 | 53% | 726 | ||||
| Average Mill Throughput (tpd) | tonnes | 572 | 842 | 47% | 658 | ||||
| Gold Recovery Rate | - | 95% | 95% | - | 95% | ||||
| Surface Stockpile | tonnes | - | 10,768 | - | 10,768 | ||||
| Surface Stockpile | ounces | - | 1,500 | - | 1,500 | ||||
Operational Performance
Performance continued to improve throughout Q2 2026 as the Company benefited from additional mining fronts, improved mine sequencing, increasing mining rates, and ongoing efforts to optimize mill throughput and overall operating efficiency.
Mining rates have increased while processing performance also improved throughout the quarter. These improvements reflect the continued advancement of the operation toward its targeted production profile for 2026.
Looking ahead, management remains focused on safely improving operational consistency, increasing production rates, and advancing self-funded development and exploration activities that support both current operations and future growth opportunities across the broader Madsen property.
Webcast Details
The Company will release its unaudited financial and operating results for the three and six months ended June 30, 2026 on Tuesday, August 25, 2026 after market close. Management will host a webcast to discuss the results on Wednesday, August 26, 2026 commencing at 8:00 am PT / 11:00 am ET. Registration will open 20 minutes prior to the event start time.
Webcast Login- WRLG Webcast | Q2 2026 Conference Call
Qualified Persons
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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Robinson and Ms. Halsall-Whitney are not independent of WRLG.
About West Red Lake Gold Mines
West Red Lake Gold Mines Ltd. is a Canadian gold producer and developer advancing a high-grade, district scale opportunity in the Red Lake district of Ontario. The Company's flagship Madsen Mine has recently achieved commercial production and is positioned as the central hub of a growing multi asset platform. The Company controls a 47 km2 land package in one of the world's most prolific mining districts, which has historically produced over 20 million ounces of gold from high grade systems1. West Red Lake also owns the Rowan Property in Red Lake, covering 31 km2 that includes three past producing mines (Rowan, Mount Jamie and Red Summit) and represents a key source of future production growth.
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
"Shane Williams"
Shane Williams
President & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jaclyn Ruptash
V.P. Corporate Communications
Tel: (604) 569-5559
Email: investors@wrlgold.com or visit the Company's website at https://www.westredlakegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as "anticipate", "expect", "estimate", "forecast", "planned", and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the expectations of performance in 2026 and all guidance ranges for 2026; potential increase in production at Madsen and anticipated changes to production profile, operating efficiency and reduction of costs; anticipated deployment in capital for 2026; and the Company's future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.
Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices; and changes in the Company's business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company's annual information form for the year ended December 31, 2025, copies of which are available on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.
1 Twomey, T. and McGibbon, S. Red Lake Mine, Goldcorp Inc. (2022). "The Geological Setting and Estimation of Gold Grade of the High-Grade Zone, Red Lake Mine." Exploration Mining Geology, Vol. 10, Nos. 1-2, pp. 19-34. Canadian Institute of Mining, Metallurgy and Petroleum ("CIM").
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