West Red Lake Gold Mines Ltd · TSXV:WRLG
West Red Lake Gold Mines — Investor Presentation (November 2026)
31 slides from West Red Lake Gold Mines's investor presentation, November 2026
Slide 1: Establishing a Multi Asset Gold Mining Platform in a Tier One Jurisdiction
Establishing a Multi Asset Gold Mining Platform in a Tier One Jurisdiction Targeting 150,000+ oz/year in Red Lake, Canada TSX-V: WRLG OTCQX: WRLGF FRA: UJ0 WESTREDLAKEGOLD.COM TSX-V: WRLG Corporate FRA: OTCQX: WRLGF Presentation UJ0 | November 2026 WESTREDLAKEGOLD.COM 1
Slide 2: Cautionary Statement and Forward-Looking Information
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION This presentation of West Red Lake Gold Mines Ltd. (“WRLG” or the "Company") is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscribe for an
Slide 3: Future Oriented Financial Information
FUTURE ORIENTED FINANCIAL INFORMATION To the extent any forward-looking information in this presentation constitutes “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the antici
Slide 4: Executing a District Scale Strategy in Red Lake
EXECUTING A DISTRICT SCALE STRATEGY IN RED LAKE ✓ Established Canadian Gold Producer: Operating in the Tier One Red Lake mining district, with a fully permitted mine and mill providing the foundation for future growth. ✓ Commercial Production at Madsen: Achieved January 1, 2026, with operations prog
Slide 5: Building Long Term Value
BUILDING LONG TERM VALUE Leveraging existing infrastructure to increase production, generate free cash flow and unlock exploration upside in Red Lake ✓ Significant Production Growth: Average annual gold production of 108,000 ounces from 2029 to 2034, supported by the integration of high-grade Rowan
Slide 6: Operations Overview, Building Consistency & Growth
OPERATIONS OVERVIEW, BUILDING CONSISTENCY & GROWTH 2026 Operating Results | PFS Production and Unit Costs • Building Operational Consistency - Mill throughput increased 52% from Q1 to Q3 2026, establishing a stronger foundation for future production. • Clear Production Growth Profile - Annual produc
Slide 7: Financial Results for the Three and Six Months Ended June 30, 2026
FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 For the six For the three For the three months ended, months ended, months ended, June 30, 2026 Financial Information Units March 31, 2026 June 30, 2026 % Change Gold revenue $ 41,755 49,035 17% 90,790 Income from mining operations $
Slide 8: Near Term Execution & Anticipated Growth Roadmap
NEAR TERM EXECUTION & ANTICIPATED GROWTH ROADMAP H1 2026 H2 2026 2027-2028 2029+ 1 2 3 4 FO UNDAT I O N RA MP - UP O PE RAT I N G LE VE RAG E MULT I - A SSE T PLAT FO RM Commercial Production and Ramp Up H2 2026 Operational & Growth Milestones Leverage Emerges Growth Opportunities ➢ Commercial Prod
Slide 9: Madsen Mine: Property Highlights
MADSEN MINE: PROPERTY HIGHLIGHTS MINERAL RESERVES Disciplined 2026 Ramp Up Execution | High-Grade Production Platform Probable · Effective September 1, 2026 · see appendix slide 36 Ounces of Gold Grade MADSEN MINE CAMP EXISTING INFRASTRUCTURE MADSEN MILL >$350M of prior investment with an Lowers cap
Slide 10: Multiple Complexes Supporting Production Growth
MULTIPLE COMPLEXES SUPPORTING PRODUCTION GROWTH ➢ Multiple underground complexes remain open at depth and along strike ➢ Ongoing drilling continues to demonstrate expansion potential across key mining areas including 904 Complex ➢ Significant unmined inventory beyond current mining areas ➢ Potential
Slide 11: Unmined Complexes Driving Current & Near Term Production
UNMINED COMPLEXES DRIVING CURRENT & NEAR TERM PRODUCTION ➢ High grade non remnant mining areas supporting future production growth ➢ Active and emerging mining areas include 4447, 955, 960, and the 904 Complexes ➢ Mining 4447, 955 & 960 Complexes 2026 ➢ 904 Complex and Fork enter the PFS production
Slide 12: Satellite Fork Deposit
SATELLITE FORK DEPOSIT ➢ Near-surface, non-remnant deposit with high- grade core and close to active development ➢ Infill drilling converted Fork to Probable Mineral Reserves in the Integrated PFS: 258 kt at 4.85 g/t Au for 40 koz ➢ Mineralization is open down plunge providing upside potential ➢ Cu
Slide 13: Fork: Delivering on Phase One Development
FORK: DELIVERING ON PHASE ONE DEVELOPMENT Capital-Efficient Growth: 250m from Existing Madsen Infrastructure ➢ 3,200m drill program completed establishing high grade mineralization ➢ Fork included in the Integrated PFS mine plan: 258 kt at 4.85 g/t Au for 40 koz Probable reserves. ➢ Initial developm
Slide 14: Madsen Mine - Development Supporting Production Growth
MADSEN MINE - DEVELOPMENT SUPPORTING PRODUCTION GROWTH ➢ Geophysical data traces the Madsen corridor beyond current workings demonstrating depth extension below current mine footprint ➢ Active development across multiple underground mining complexes supporting operational flexibility and a sustained
Slide 15: Exploration & Discovery Upside at Madsen
EXPLORATION & DISCOVERY UPSIDE AT MADSEN 47 km² Land Package | Upside Beyond the Integrated PFS DEPTH EXTENSION POTENTIAL ➢ Strong intercepts in historical deep holes confirm mineralization continues ➢ Geophysics clearly shows structure extending to depth ➢ Deep exploration is high-priority: the 13L
Slide 16: Rowan Project Property Highlights
ROWAN PROJECT PROPERTY HIGHLIGHTS MINERAL RESOURCE ESTIMATE 1 Effective June 2026 | Cut-off: 2.00 g/t Au Second Engine for Growth Targeting 2029 Production Profile Category Ounces of Gold Grade Indicated 335,058 13.04 g/t (1) EXISTING ROAD, TRUCKING ADDING ~48,000 oz/year at ~9 G/T STRATEGIC SATELLI
Slide 17: Rowan Project: 2025-2026 Drill Program Results
ROWAN PROJECT: 2025-2026 DRILL PROGRAM RESULTS PFS-Stage Satellite Asset | 300 koz Probable Reserve at 9.23 g/t 2025–2026 drilling transitioned Rowan to PFS: ➢ Recent 6,300m drill program targeted veins 001, 004, 006, 013 Rowan Underground Mining and Development Plan ➢ Supported the Integrated PFS
Slide 18: Red Lake: Meaningful Growth
RED LAKE: MEANINGFUL GROWTH Resources and targets outside the 2026 PFS mine plan offer mine-life extension and production growth from existing infrastructure UPSIDE NOT CAPTURED IN THE PFS • Madsen resource conversion: Definition drilling at depth and near existing infrastructure; 65,000 m drilled s
Slide 19: Integrated Operation | 2026 PFS Highlights
INTEGRATED OPERATION | 2026 PFS HIGHLIGHTS C$764M after-tax NPV, ~108 Koz/yr once Rowan enters production C$764M C$1.04B 10 years ~884 Koz 2026 PFS HIGHLIGHTS After-tax NPV (5%) Cumulative after-tax free Mine life Total recovered gold • Integrated operation: A single operation centered cash flow on
Slide 20: Gold Production Outlook
GOLD PRODUCTION OUTLOOK >100 Koz/yr from 2029–2034 with Rowan feed Annual gold production (Koz) and mill head grade (g/t), 2027–2036 LOM RECOVERED GOLD LOM AVERAGE Madsen Rowan Madsen grade (g/t) Rowan grade (g/t) 12 g/t ~884 Koz 88 Koz/yr 10 g/t 8 g/t 883,190 oz payable 10-year mine life 6 g/t 4 g/
Slide 21: Mineral Reserves & Resources
MINERAL RESERVES & RESOURCES 962 koz of Probable Reserves at 6.79 g/t Au across Madsen and Rowan VS 2025 MADSEN MINE PFS RESERVE TOTAL PROBABLE RESERVES PROBABLE RESERVE GRADE +85% 962 koz Au 6.79 g/t Au Contained reserve ounces, Integrated PFS vs 2025 PFS 4.41 Mt diluted to the mill, Madsen and Row
Slide 22: Madsen & Rowan | Comparable Canadian Underground Mines
MADSEN & ROWAN | COMPARABLE CANADIAN UNDERGROUND MINES Reserve Grade (g/t AuEq) 10.61 8.66 7.76 7.27 7.20 6.79 (1) 6.66 6.65 6.41 5.19 5.10 5.05 4.63 3.46 2.20 1.60 Madsen/ Laronde Young- Project Island Gold Kiena Macassa Eagle River Lamaque Westwood Brucejack Musselwhite Meliadine Eleonore Seabee R
Slide 23: Share Structure
SHARE STRUCTURE CAPITALIZATION (as at November 1, 2026) ~C$230M Shares Issued & Outstanding 412,959,642 Market Cap November 1, 2026 Warrants 110,473,807 Options 21,483,057 ~20% C$0.56 ~C$31M Gold-focused Share Price Cash Balance RSUs 6,996,156 November 1, 2026 June 30, 2026 institutions Major DSUs 2
Slide 24: Strong Trading Liquidity
STRONG TRADING LIQUIDITY WRLG’s Average Daily Volume (ADV) TSX-V: WRLG OTCQX: WRLGF FRA: UJ0 WESTREDLAKEGOLD.COM 24
Slide 25: Our Team
OUR TEAM Experienced Team with Proven Mine-Building Track Record Shane Williams Harpreet Dhaliwal Jason Billan Jaclyn Ruptash President & CEO CFO VP Corporate Development VP Communications & IR Mining executive with 25+ years of Mining finance and deal executive experience in mine construction, Reso
Slide 26: Contact
Jaclyn Ruptash VP Corporate Communications [email protected] @WestRedLakeGold West Red Lake Gold Mines Ltd. Unit 620 - 1100 Melville St Vancouver, BC V6E 4A6 Canada Investor Relations: (604) 569-5559 Email: [email protected] TSX-V: WRLG OTCQX: WRLGF FRA: UJ0 WESTREDLAKEGOLD.COM 26
Slide 27: Appendix
Appendix TSX-V: WRLG OTCQX: WRLGF FRA: UJ0 WESTREDLAKEGOLD.COM 27
Slide 28: Safety, Environment & Community
SAFETY, ENVIRONMENT & COMMUNITY Safe Actions, Strong Culture, One Team SAFETY FIRST COMMUNITY & FIRST NATIONS Safe production is the compass that guides every decision at West Red Lake Gold Mines. WRLG is committed to open and honest communications with local communities Protecting one another and e
Slide 29: Endnotes Madsen Mine
Endnotes Madsen Mine Mineral Resource Statement, Madsen Mine, Red Lake, Ontario, effective date January 1, 2026 Notes: 1. CIM (2019) definitions were followed for Mineral Resources. 2. Mineral Resources for cut-and-fill were estimated at a cutoff grade of 3.60 g/t Au and US$3,200/oz gold. 3. Mineral
Slide 30: Endnotes Rowan Mine
Endnotes Rowan Mine Summary of the Rowan and Mount Jamie 2026 Mineral Resources, effective date June 1, 2026 Notes: 1. CIM (2019) definitions were followed for Mineral Resources. 2. Mineral Resources for Rowan were estimated at a cutoff grade of 2.00 g/t Au and a gold price of USD $3,200 per ounce.
Slide 31: Finding More Below
FINDING MORE BELOW Strong potential to extend Madsen to depth ➢ Strong results in scattered deep intercepts ➢ Comparable Red Lake deposits go to 3km+, versus Madsen to 1.2km ➢ Geophysics clearly shows structure extending to depth ➢ Depth extension is not in the Integrated PFS; the #2 Shaft is design
West Red Lake Gold Mines — Investor Presentation (November 2026) on 6ix