West Red Lake Gold Mines Ltd. Announces Fully Funded Rowan Drilling Program Following Positive Preliminary Economic Assessment
West Red Lake Gold Mines Ltd. (TSXV: WRLG; OTCQB: WRLGF) announced on October 28, 2025 that it will commence a fully funded infill and conversion drilling program at its Rowan project in the Red Lake Gold District of Northwestern Ontario, Canada. The program follows a favorable Preliminary Economic Assessment (PEA) that confirmed the project’s strong commercial viability.
Key Program Details
| Item | Information |
|---|---|
| Project | Rowan gold deposit, Red Lake Gold District |
| Drilling Focus | Infill and conversion to refine resource estimates |
| Funding Status | Fully funded, no external financing required |
| Objective | Validate and expand current resource model, support future feasibility studies |
The PEA, completed prior to the announcement, highlighted attractive gold grades and recoveries, positioning Rowan as a high‑potential exploration asset within the company’s portfolio. By advancing to the drilling phase, West Red Lake Gold Mines aims to reduce technical risk, secure a robust resource base, and enhance the project’s attractiveness to potential investors and partners.
Market Reaction and Financial Context
As of October 30, 2025, the company’s stock closed at CAD 0.88 on the TSX Venture Exchange, reflecting a modest decline from its 52‑week high of CAD 1.18 set on September 10, 2025. The 52‑week low, recorded on November 26, 2024, was CAD 0.52. With a market capitalization of approximately CAD 345.8 million and a price‑earnings ratio of –2.13, the firm remains in a growth‑stage phase, focusing on exploration and development rather than immediate profitability.
Company Overview
West Red Lake Gold Mines Ltd. specializes in the exploration and development of gold projects within the Red Lake Gold District. The company offers exploration and mining services to clients worldwide and maintains a global customer base. Its operations and initiatives are detailed on the company’s website at www.westredlakegold.com .
The Rowan drilling program underscores West Red Lake Gold Mines’ commitment to advancing high‑grade gold projects and generating shareholder value through disciplined exploration and resource development.
