West Red Lake Gold Announces Upsize to Previously Announced Bought Deal Public Offering

Press Release

Vancouver, British Columbia, February 19, 2025 — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce, it has agreed with Raymond James Ltd., to increase the size of its previously announced bought-deal financing. West Red Lake Gold will now issue 23,628,000 charity-flow through units (the “Charity Flow-Through Units”) of the Company at a price of C$0.8487 per Charity Flow-Through Unit (the “Charity Flow-Through Issue Price”) for aggregate gross proceeds to the Company of approximately C$20 million (the “Offering”).

Each Charity Flow-Through Unit will consist of one common share of the Company (each, a “Flow-Through Unit Share”) and one common share purchase warrant (each whole common share purchase warrant, a ‘Flow-Through Unit Warrant”). Each Flow-Through Unit Warrant will entitle the holder to acquire one common share of the Company for an exercise price of C$0.90 per share for 36 months from the closing date of the Offering (the “Closing Date”). The Flow-Through Unit Shares and Flow-Through Unit Warrants will each be issued as “flow-through shares” within the meaning of the Income Tax Act (Canada). Upon the exercise of the Flow-Through Unit Warrants, the underlying common share will not be issued as “flow- through shares” within the meaning of the Income Tax Act (Canada).

The gross proceeds pursuant to the issuance of the Charity Flow-Through Units will be used to incur “Canadian development expenses”, within the meaning of the Income Tax Act (Canada), on the Company’s assets.

The Charity Flow-Through Units will be offered under the short form base shelf prospectus (the “Base Prospectus”) of the Company dated April 30, 2024, as supplemented by a shelf prospectus supplement (the “Supplement”) to be prepared and filed in each of the provinces of Canada, other than the Province of Quebec (collectively, the “Jurisdictions”). Copies of the Base Prospectus and the Supplement will be available on the Company’s SEDAR+ page at www.sedarplus.ca.

The Offering is expected to close on or about February 25, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX-V.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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:

Gwen Preston

Vice President Communications Tel: (604) 609-6132

Email: investors@wrgold.com or visit the Company’s website at https://www.westredlakegold.com

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