West Red Lake Gold Announces Appointment of Hugh Agro to Board of Directors - Seite 2

In addition, 100,000 DSUs have been granted to Mr. Agro which will vest on the first anniversary of the grant date of July 26, 2023.

Further to its news release of July 6, 2023, the Company is pleased to announce that due to excess demand, it has increased its non-brokered flow-through private placement financing to $7,000,000 by the issuance of up to 10,000,000 flow-through shares at $0.70 per flow-through share (the “Offering”). The Offering is subject to TSXV approval. The Company intends to use the proceeds from the Offering for the exploration and advancement of its properties in Red Lake, Ontario.

ABOUT WEST RED LAKE GOLD MINES

West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 Km² highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 Km² including three past producing gold mines - Rowan, Mount Jamie and Red Summit.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.

“Shane Williams”

Shane Williams        
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Amandip Singh, VP Corporate Development
Tel: [phone]
Email: [e-mail] 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.

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.