In This Article:
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.
Shane Williams, President & CEO, stated, “The South Austin zone has been producing very high grades and impressive widths in the definition drilling program to begin 2025 – often associated with the presence of visible gold. The team is successfully defining a panel of very high-grade mineralization in South Austin between 8L and 12L of the mine. It is becoming apparent that a lot of high-grade material was left behind in this area by historic operators and we are taking full advantage of this low hanging fruit that sits immediately adjacent to our existing underground development. These organic growth opportunities are exciting because they represent high margin ounces that can be sequenced into our mine plan very efficiently. As drilling progresses at depth we expect to uncover more areas of untapped potential and look forward to providing further updates as assay results continue to be received.”
These drill results are located approximately 50 meters (“m”) up-dip from the South Austin intercepts previously announced on February 26, 2025, where drilling returned 114.26 grams per tonne (“g/t”) gold (“Au”) over 10.6m, 77.90 g/t Au over 3m and 24.48 g/t Au over 8.5m (Figure 3). This area is also approximately 300 m up plunge from the drill results recently announced on May 13, 2025 where drilling returned 48.97 g/t Au over 18.7m, 52.86 g/t Au over 4.5m and 25.49 g/t Au over 7.5m (Figure 3). The South Austin zone continues to demonstrate significant grade and thickness potential at depth and along strike, which is being fully realized and accurately defined through definition drilling.
The purpose of this drilling was definition and expansion within priority areas of South Austin to continue adding to an already substantial inventory of high-confidence ounces to support the restart of production at the Madsen mine, which was announced on May 22, 2025. The Company reported positive results from its recently completed bulk sampling campaign on May 7, 2025, and also filed a Technical Report for its Pre-Feasibility Study for Madsen on February 18, 2025.
The South Austin Zone currently contains an Indicated mineral resource of 474,600 ounces (“oz”) grading 8.7 g/t Au within 1.7 million tonnes (“Mt”), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au within 0.1 Mt.
SOUTH AUSTIN ZONE HIGHLIGHTS:
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Hole MM25D-08-4380-011 Intersected 12.1m @ 61.51 g/t Au, from 11.0m to 23.1m, Including 1m @ 725.00 g/t Au, from 12m to 13m, Also including 0.5m @ 16.06 g/t Au, from 23.5m to 24.0m. This high-grade intercept was complimented by a band of visible gold hosted within foliation adjacent to deformed blue-grey-quartz and diopside veinlets (Figure 1).
Figure 1. Visible gold showings in hole MM25D-08-4380-011.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d639f52d-1c7f-449e-8d82-ef59f85352ba
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Hole MM25D-08-4380-003 Intersected 8.35m @ 43.54 g/t Au, from 8.50m to 16.85m, Including 1m @ 347.81 g/t Au, from 8.5m to 9.5m. This high-grade intercept was complimented by a large bleb of visible gold associated with quartz-tourmaline and quartz-diopside veinlets (Figure 2).
Figure 2. Visible gold showings in hole MM25D-08-4380-003.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4d71948e-c508-4bae-91e1-87ef66d460ff
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Hole MM25D-08-4380-026 Intersected 11.2m @ 24.61 g/t Au, from 7.8m to 19.0m, Including 1.5m @ 166.36 g/t Au, from 15.5m to 17.0m.
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Hole MM25D-08-4380-024 Intersected 3.2m @ 16.46 g/t Au, from 9.3m to 12.5m, Including 0.6m @ 75.44 g/t Au, from 9.9m to 10.5m.
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Hole MM25D-08-4380-006 Intersected 3m @ 16.96 g/t Au, from 6m to 9m, Including 1m @ 48.47 g/t Au, from 7m to 8m.
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Hole MM25D-08-4380-022 Intersected 3.3m @ 15.16 g/t Au, from 33.0m to 36.3m, Including 0.9m @ 46.01 g/t Au, from 33.6m to 34.5m.
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Visible gold was also observed in hole MM25D-08-4380-010 within a significant intercept as outlined below in Table 1.
TABLE 1. Significant intercepts (>3 g/t Au) from drilling at South Austin Zone.
| Hole ID | Target | From (m) | To (m) | Length (m)* | Au (g/t) |
| MM25D-08-4380-001 | South Austin | 22.00 | 25.50 | 3.50 | 12.21 |
| Incl. | 24.50 | 25.50 | 1.00 | 39.58 | |
| MM25D-08-4380-002 | South Austin | 3.45 | 4.00 | 0.55 | 10.46 |
| MM25D-08-4380-003 | South Austin | 8.50 | 16.85 | 8.35 | 43.54 |
| Incl. | 8.50 | 9.50 | 1.00 | 347.81 | |
| MM25D-08-4380-004 | South Austin | 17.50 | 19.00 | 1.50 | 3.43 |
| MM25D-08-4380-005 | South Austin | 22.60 | 23.60 | 1.00 | 3.26 |
| MM25D-08-4380-006 | South Austin | 1.00 | 3.00 | 2.00 | 3.82 |
| AND | South Austin | 6.00 | 9.00 | 3.00 | 16.96 |
| Incl. | 7.00 | 8.00 | 1.00 | 48.47 | |
| MM25D-08-4380-007 | South Austin | 13.00 | 18.60 | 5.60 | 7.23 |
| Incl. | 14.50 | 15.50 | 1.00 | 19.96 | |
| Also Incl. | 16.70 | 17.20 | 0.50 | 15.63 | |
| AND | South Austin | 20.10 | 22.60 | 2.50 | 3.00 |
| MM25D-08-4380-008 | South Austin | 24.80 | 25.80 | 1.00 | 3.74 |
| MM25D-08-4380-009 | South Austin | 13.50 | 16.50 | 3.00 | 12.99 |
| Incl. | 15.50 | 16.50 | 1.00 | 34.20 | |
| MM25D-08-4380-010 | South Austin | 13.30 | 16.00 | 2.70 | 3.57 |
| AND | South Austin | 17.00 | 19.00 | 2.00 | 3.51 |
| MM25D-08-4380-011 | South Austin | 11.00 | 23.10 | 12.10 | 61.51 |
| Incl. | 12.00 | 13.00 | 1.00 | 725.00 | |
| MM25D-08-4380-012 | South Austin | 24.50 | 29.20 | 4.70 | 6.98 |
| Incl. | 26.25 | 26.75 | 0.50 | 15.78 | |
| Also Incl. | 28.45 | 29.20 | 0.75 | 25.91 | |
| MM25D-08-4380-013 | South Austin | 12.35 | 20.60 | 8.25 | 3.93 |
| Incl. | 14.35 | 15.35 | 1.00 | 10.98 | |
| MM25D-08-4380-014 | South Austin | 4.00 | 5.00 | 1.00 | 4.88 |
| AND | South Austin | 25.50 | 26.40 | 0.90 | 4.83 |
| MM25D-08-4380-015 | South Austin | No Assays > 3 g/t Au | |||
| MM25D-08-4380-016 | South Austin | 22.00 | 25.00 | 3.00 | 4.32 |
| AND | South Austin | 27.50 | 28.10 | 0.60 | 3.77 |
| MM25D-08-4380-017 | South Austin | 14.50 | 16.50 | 2.00 | 3.49 |
| AND | South Austin | 20.70 | 22.00 | 1.30 | 3.57 |
| MM25D-08-4380-018 | South Austin | No Assays > 3 g/t Au | |||
| MM25D-08-4380-019 | South Austin | 8.00 | 12.00 | 4.00 | 11.34 |
| Incl. | 10.00 | 11.00 | 1.00 | 30.25 | |
| MM25D-08-4380-020 | South Austin | 18.40 | 20.15 | 1.75 | 8.52 |
| Incl. | 19.50 | 20.15 | 0.65 | 15.52 | |
| MM25D-08-4380-021 | South Austin | 7.40 | 9.00 | 1.60 | 3.85 |
| AND | South Austin | 12.00 | 20.25 | 8.25 | 5.18 |
| Incl. | 14.20 | 15.00 | 0.80 | 23.76 | |
| MM25D-08-4380-022 | South Austin | 17.50 | 21.00 | 3.50 | 5.28 |
| Incl. | 18.40 | 19.25 | 0.85 | 14.36 | |
| AND | South Austin | 33.00 | 36.30 | 3.30 | 15.16 |
| Incl. | 33.60 | 34.50 | 0.90 | 46.01 | |
| MM25D-08-4380-023 | South Austin | 2.75 | 6.40 | 3.65 | 4.25 |
| Incl. | 5.00 | 5.50 | 0.50 | 13.57 | |
| MM25D-08-4380-024 | South Austin | 6.00 | 8.00 | 2.00 | 6.52 |
| AND | South Austin | 9.30 | 12.50 | 3.20 | 16.46 |
| Incl. | 9.90 | 10.50 | 0.60 | 75.44 | |
| MM25D-08-4380-025 | South Austin | 10.00 | 14.00 | 4.00 | 3.28 |
| MM25D-08-4380-026 | South Austin | 7.80 | 19.00 | 11.20 | 24.61 |
| Incl. | 15.50 | 17.00 | 1.50 | 166.36 | |
| MM25D-08-4380-027 | South Austin | 9.00 | 11.00 | 2.00 | 4.21 |
| AND | South Austin | 17.00 | 18.90 | 1.90 | 3.19 |
| MM25D-08-4380-028 | South Austin | 17.80 | 18.50 | 0.70 | 9.51 |
| AND | South Austin | 22.00 | 23.50 | 1.50 | 21.56 |
| Incl. | 22.00 | 22.95 | 0.95 | 33.01 | |
*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core. Composite grades reported are uncapped. Internal dilution for composite intervals does not exceed 1m for samples grading <0.1 g/t Au.
TABLE 2: Drill collar summary for holes reported in this News Release.
| Hole ID | Target | Easting | Northing | Elev (m) | Length (m) | Azimuth | Dip |
| MM25D-08-4380-001 | South Austin | 435579 | 5646330 | 31 | 26.0 | 93 | -14 |
| MM25D-08-4380-002 | South Austin | 435579 | 5646329 | 31 | 17.8 | 99 | 0 |
| MM25D-08-4380-003 | South Austin | 435579 | 5646329 | 32 | 18.6 | 105 | 14 |
| MM25D-08-4380-004 | South Austin | 435579 | 5646329 | 31 | 22.0 | 110 | -19 |
| MM25D-08-4380-005 | South Austin | 435579 | 5646329 | 30 | 27.7 | 111 | -32 |
| MM25D-08-4380-006 | South Austin | 435579 | 5646328 | 33 | 12.0 | 121 | 27 |
| MM25D-08-4380-007 | South Austin | 435579 | 5646328 | 32 | 102.0 | 123 | 2 |
| MM25D-08-4380-008 | South Austin | 435579 | 5646328 | 30 | 25.8 | 124 | -31 |
| MM25D-08-4380-009 | South Austin | 435576 | 5646327 | 30 | 22.2 | 127 | -19 |
| MM25D-08-4380-010 | South Austin | 435576 | 5646327 | 31 | 36.0 | 129 | 3 |
| MM25D-08-4380-011 | South Austin | 435577 | 5646327 | 33 | 33.5 | 130 | 32 |
| MM25D-08-4380-012 | South Austin | 435576 | 5646327 | 30 | 29.2 | 138 | -32 |
| MM25D-08-4380-013 | South Austin | 435576 | 5646327 | 31 | 20.6 | 141 | -8 |
| MM25D-08-4380-014 | South Austin | 435576 | 5646327 | 32 | 36.0 | 146 | 15 |
| MM25D-08-4380-015 | South Austin | 435576 | 5646327 | 33 | 14.1 | 153 | 45 |
| MM25D-08-4380-016 | South Austin | 435575 | 5646327 | 31 | 39.0 | 156 | 3 |
| MM25D-08-4380-017 | South Austin | 435575 | 5646327 | 32 | 36.0 | 163 | 28 |
| MM25D-08-4380-018 | South Austin | 435570 | 5646311 | 30 | 19.0 | 107 | -20 |
| MM25D-08-4380-019 | South Austin | 435569 | 5646311 | 31 | 15.0 | 117 | -11 |
| MM25D-08-4380-020 | South Austin | 435569 | 5646311 | 32 | 26.5 | 118 | 23 |
| MM25D-08-4380-021 | South Austin | 435567 | 5646311 | 33 | 36.5 | 145 | 60 |
| MM25D-08-4380-022 | South Austin | 435568 | 5646310 | 30 | 45.0 | 146 | -24 |
| MM25D-08-4380-023 | South Austin | 435568 | 5646311 | 33 | 33.0 | 139 | 30 |
| MM25D-08-4380-024 | South Austin | 435568 | 5646310 | 32 | 33.0 | 157 | 30 |
| MM25D-08-4380-025 | South Austin | 435567 | 5646310 | 32 | 33.0 | 175 | 29 |
| MM25D-08-4380-026 | South Austin | 435567 | 5646311 | 33 | 33.0 | 166 | 48 |
| MM25D-08-4380-027 | South Austin | 435569 | 5646312 | 33 | 36.0 | 101 | 27 |
| MM25D-08-4380-028 | South Austin | 435569 | 5646312 | 32 | 35.3 | 95 | 10 |
DISCUSSION
Accessed through the Madsen Mine East Portal, the South Austin Zone sits south in the hanging wall of the main Austin Zone. Like the other mineralized domains that comprise the Madsen Mine, the South Austin structure is hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism.
At the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are locally folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. In addition to this intense deformation overprint, the mineralized veins and alteration have been subjected to the relatively high temperatures of amphibolite facies metamorphism, which led to extensive recrystallization and growth of the skarn-like replacement mineral assemblage of diopside-amphibole-quartz-biotite.
All significant gold mineralization on the mine property is demonstrably early relative to the most significant, penetrative deformation (D2) and metamorphic events. The North Austin Zone displays ‘mine-style’ alteration and mineralization and consists of multiple mineralized domains defined over a strike length of 0.5km. Mineralization remains open at depth and along strike to the northeast.
In drill core, or at underground face exposures, gold-bearing zones at the Madsen Mine are best identified visually by fine (sub-millimetre) grains of free gold within strong alteration and veining. All high-grade intervals generally contain visible gold on drill core exteriors, although numerous examples exist of high-grade assays where visible gold was only identified within the interior (cut surface) of the core samples. Apart from the presence of free gold, pervasive silicification (locally accompanied by discrete quartz veining) and quartz-carbonate or diopside veining are the best indicators that a given interval is within a high-grade zone along/within the mineralized structure.
The current underground drilling program at the Madsen Mine is focused on further definition of near-term mining inventory, as well as growth of the current mineral resource. Drilling has been focused on the more continuous and higher-grade portions of the Austin, South Austin, North Austin and McVeigh Zones. This will continue to be the strategy through 2025.
High resolution versions of all the figures contained in this press release can be found at the following web link: https://westredlakegold.com/may-27-2025-nr-figures/.
FIGURE 3. Long section highlighting Top Three (3) intercepts announced in 2025 from infill drilling stations in the South Austin, Austin and McVeigh Zones[1].
[1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada”, prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f93ef55-1c35-4866-93b2-d1f20af60ed4
FIGURE 4. Madsen Mine long section showing location of 08-4380 Drill Bay in the South Austin Zone.[1]
[1] Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada”, prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025. A full copy of the SRK report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f240e69f-7acf-403f-a760-2cdf97d221e3
FIGURE 5. South Austin plan view drill section showing assay highlights for Holes MM25D-08-4380-001 through -028.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a16de764-946b-407e-9b06-2e02d0f736df
FIGURE 6. South Austin section view showing assay highlights for Holes MM25D-08-4380-024 through -026.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c3121ea-fc48-4964-b7f2-4fe9a5d32a54
FIGURE 7. South Austin section view showing assay highlights for Holes MM25D-08-4380-021 through -023.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a681de56-790d-44fd-bbc3-3ef990068a28
FIGURE 8. South Austin section view showing assay highlights for Holes MM25D-08-4380-018 through -020, -027 and -028.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f774e3f-7099-4724-bbde-802e39c09199
FIGURE 9. South Austin section view showing assay highlights for Holes MM25D-08-4380-013 through -017.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/52fc9c5e-d9ae-42d1-a586-bd355b6a290b
FIGURE 10. South Austin section view showing assay highlights for Holes MM25D-08-4380-009 through -012.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92f75e16-af2a-4784-aa03-abfaecbd9680
FIGURE 11. South Austin section view showing assay highlights for Holes MM25D-08-4380-006 through -008. Hole -007 was an exploratory hole extended to confirm the contact with Confederation rocks to the southeast.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92f75e16-af2a-4784-aa03-abfaecbd9680
FIGURE 12. South Austin section view showing assay highlights for Holes MM25D-08-4380-001 through -005.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/884f99cb-c4be-416c-b096-9a9724b3aeb1
QUALITY ASSURANCE/QUALITY CONTROL
Drilling completed underground at the Madsen Mine consists of BQ-sized diamond drill core for definition drill programs and oriented NQ-sized diamond drill core for exploration focused drilling. All drill holes are systematically logged, photographed, and sampled by a trained geologist at the Madsen Mine core processing facility. Minimum allowable sample length is 0.5m. Maximum allowable sample length is 1.5m. Control samples (certified standards and uncertified blanks), along duplicates, are inserted at a target 5% insertion rate. Results are assessed for accuracy, precision, and contamination on an ongoing basis. The BQ-sized drill core is whole core sampled. The NQ-sized drill core is then cut lengthwise utilizing a diamond blade core saw along a line pre-selected by the geologist. To reduce sampling bias, the same side of drill core is sampled consistently utilizing the orientation line as reference. For those samples containing visible gold (“VG”), a trained geologist supervises the cutting/bagging of those samples, and ensures the core saw blade is ‘cleaned’ with a dressing stone following the VG sample interval. Bagged samples are then sealed with zip ties and transported by Madsen Mine personnel directly to SGS Natural Resource’s Facility in Red Lake, Ontario for assay.
Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2mm. A riffle splitter is then utilized to produce a 500g course reject for archive. The remainder of the sample is then pulverized to 85% passing 75 microns from which 50g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish (SGS Code GO-FAA50V10). Samples returning gold values > 100 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50g sample (SGS Code GO_FAG50V). Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multi-element analysis, samples are sent to SGS’s facility in Burnaby, British Columbia and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25g sample pulps (SGS code: GE_ICP40Q12). SGS Natural Resources analytical laboratories operates under a Quality Management System that complies with ISO/IEC 17025.
The Madsen Mine deposit presently hosts a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) Indicated resource of 1.65 million ounces (“Moz”) of gold grading 7.4 g/t Au within 6.9 Mt, and an Inferred resource of 0.37 Moz of gold grading 6.3 g/t Au within 1.8 Mt. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Mineral resources as stated are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Madsen Mine also contains Probable reserves of 478 thousand ounces (“koz”) of gold grading 8.16 g/t Au within 1.87 Mt. Mineral reserve estimates are based on a gold price of US$1,680/oz. Please refer to the technical report entitled “NI 43-101 Technical Report and Prefeasibility Study for the Madsen Mine, Ontario, Canada”, prepared by SRK Consulting (Canada) Inc. and dated January 7, 2025 (the “Madsen Report”). The Madsen Resource Estimate has an effective date of December 31, 2021, and excludes depletion of mining activity during the period from January 1, 2022, to the mine closure on October 24, 2022, as it has been deemed immaterial and not relevant for the purpose of the Madsen Report. A full copy of the Madsen Report is available on the Company’s website and on SEDAR+ at www.sedarplus.ca.
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”.
ABOUT WEST RED LAKE GOLD MINES
West Red Lake Gold Mines Ltd. is a mineral development 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.
A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/872f708e-e3a6-436b-b29b-6bac3c5e9b43
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams
President & Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gwen Preston
Vice President Communications
Tel: (604) 609-6132
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 potential production of mining operations at the Madsen Mine; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.
Forward-looking information involve 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 management’s discussion and analysis for the year ended December 31, 2024, and the Company’s annual information form for the year ended December 31, 2024, 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.
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