West Red Lake Gold Mines (WRLG) Corporate presentation summary

Strategic positioning and growth objectives

• Operating in Red Lake, Ontario, a top-tier gold district with established infrastructure and high-grade deposits.

• Targeting production of 150,000+ ounces of gold per year through district-scale consolidation and multi-asset development.

• Commercial production achieved at Madsen Mine in January 2026, with 2026 guidance of 35,000–45,000 ounces, weighted toward the second half.

• Hub-and-spoke strategy integrates future Rowan satellite deposit production with the Madsen Mill.

• Significant exploration upside and resource expansion potential across multiple mining complexes.

Financial and operational performance

• Gold sales revenue for H1 2026 reached $90.8M, with 14,425 ounces sold at an average realized price of $4,288/oz in Q2.

• Adjusted EBITDA for H1 2026 was $36.5M, with adjusted net earnings of $19M and free cash flow of $3.5M.

• All-in sustaining costs (AISC) per ounce improved to $3,284 in Q2 2026, down 30% from Q1.

• Cash and cash equivalents stood at $31.2M as of June 30, 2026.

Asset highlights and development pipeline

• Madsen Mine has 478,000 ounces in reserves at 8.16 g/t Au and 1.65Moz indicated resources at 7.4 g/t Au.

• Rowan Project, targeting H1 2029 production, has 335,058 ounces indicated at 13.04 g/t Au and 179,029 ounces inferred at 15.31 g/t Au.

• Fork satellite deposit and 904 Complex are advancing toward production, with high-grade drilling results supporting future output.

• Ongoing development in multiple underground complexes (4447, 904, Derlak, Fork) supports operational flexibility and scalability.