CEO Message Part 1: An Introduction to West Red Lake Gold Mines and its properties.

By Shane Williams – CEO of West Red Lake Gold Mines

Thank you for your interest in West Red Lake Gold Mines.

I know that you are busy and bandwidth is squeezed, so let’s cut to the chase.

Our flagship Ontario asset – The Madsen Gold Mine – is debt free, fully permitted, and has a brand new 800+ tonne per day mill, a tailings and water treatment facility.

The “lower-grade” near surface zone is about 3.5 grams/tonne gold, the higher-grade zone at 500 meters averages 9 grams/tonne gold.

At its peak, the asset was valued at over a billion dollars, 10X our current market cap. There is smart money heavily invested in the current project - Frank Guistra (10%); Sprott Resource (24%).

The previous operator was under-capitalised. Debt repayment obligations forced the company into a quick-to-cash-flow mine model that was ultimately expensive and inefficient.

I have designed, built and operated mines (open pit and underground) in Greece, Turkey and Canada - for Skeena Resources, Eldorado Gold and Rio Tinto. Under Frank Guistra’s guidance, my team conducted three months intense due-diligence on this project. It is clear to me and our technical team, the problems with this mine had to do with management strategies, not the asset itself.

Geologically, metallurgically, politically and environmentally we are not aware of any big negatives with this mine.

We purchased this asset for pennies on the dollar when nobody cared about gold. Investors are starting to care now. With global debt levels reaching $305 trillion, we anticipate the gold price reaching new highs. 

The Red Lake District is one of the most prolific gold districts on the planet with over 30 million ounces produced. Our 47 Km2 land package is 13X bigger than NYC’s Central Park.

Next week in Part 2 of my message to shareholders, I will explain how the previous operators got it wrong, and how we are getting it right.

Sincerely,

Shane Williams

CEO of West Red Lake Gold Mines

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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, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”

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.

Certain statements contained in this news release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.