Canadas Gold Rush Continues: West Red Lake Hits Commercial Gold Production At Groundbreaking Madsen Mine

West Red Lake Achieves Commercial Production at Madsen Gold Mine, a New Milestone for Canada’s Mining Industry

In December 2025, West Red Lake Gold Corporation made history by achieving commercial production at its wholly owned Madsen gold mine in the Red Lake mining district of north-western Ontario, Canada. This milestone marks a significant achievement for the company and the Canadian mining industry as a whole.

The definition of commercial production is maintaining at least 65% of permitted capacity over a 30-day period. To achieve this threshold, West Red Lake Gold had to demonstrate operational stability standards during the 30-day period in question. The Company’s definition also includes meeting the required gold recovery rate and gold grade.

Achieving commercial production is a significant milestone for any mining company, indicating that the mine is operating efficiently and effectively, and that the Company has successfully developed a robust business plan to ensure its long-term success.

The ramp-up of the Madsen mine has been a key focus for West Red Lake Gold in recent months. The Company achieved an average throughput of 689 tonnes per day (tpd) in December 2025, which is 86% of the permitted capacity of 800 tpd. This demonstrates the Company’s commitment to operational efficiency and its ability to manage the ramp-up process effectively.

As part of its expansion plans, West Red Lake Gold expects most of the mill feed to originate from the 4447 area high-grade zone in South Austin during the first quarter of 2026 (Q1 2026). The Company anticipates that feed will exceed an average gold grade of six grams per tonne (g/t) during this period, which is a significant improvement over the current grades.

The Lac Seul and Wabauskang First Nations and the community of Red Lake have been long-standing supporters of West Red Lake Gold’s operations. The Company has worked closely with these stakeholders to ensure that its activities are carried out in a responsible and sustainable manner.

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The Madsen mine processed 21,389t of ore at an average gold grade of 4.94g/t in December 2025. This achievement demonstrates the Company’s ability to operate efficiently during periods of high production demand.

During Q4 2025, the mill recovery rate was approximately 95%, resulting in 7,379oz of gold being produced. The total ore processed in Q4 amounted to 49,162t, with an average processing rate of 534tpd and a grade of 5.06 g/t gold.

The Madsen mine generated $30m (C$41.62m) from sales at an average price of $4,150/oz in Q4 2025. This achievement is a testament to the Company’s ability to secure strong prices for its gold production.

Throughout 2025, the mine poured a total of 20,000oz of gold sold at an average price of $3,650/oz, yielding $73m in revenue. By year-end, the Company reported having C$46m in cash and gold receivables, which provides a solid foundation for its financial performance going forward.

West Red Lake Gold has demonstrated its ability to operate efficiently and effectively during periods of high production demand. The achievement of commercial production at the Madsen mine marks an important milestone in the Company’s growth strategy.

In 2025, West Red Lake Gold reported a strong revenue performance, driven by the successful ramp-up of the Madsen mine. This success is expected to continue into 2026, with the Company anticipating sustained permitted capacity by mid-2026.

The Company has also begun a 5,000m drilling program at its Rowan project in the Red Lake gold district, which aims to expand its mineral resource base and increase its production potential.

Achieving commercial production at the Madsen mine is a significant milestone for West Red Lake Gold. The Company’s commitment to operational efficiency, sustainability, and community engagement has paid off, demonstrating its ability to operate successfully in one of Canada’s most challenging mining environments.

As the Canadian mining industry continues to evolve, West Red Lake Gold must remain focused on its long-term growth strategy while navigating the complexities of global markets and trade agreements.