VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. ("West Red Lake Gold" or "WRLG" or the "Company") (TSXV:WRLG) (OTCQB:WRLGF) announces its financial and operating results for the three months ended March 31, 2026 ("Q1 2026"). The Company also provides an operational update for Q1 2026 on the post commercial ramp up of the Madsen Mine ("Madsen") located in the Red Lake mining district of Ontario. The Company will hold a webcast to discuss the results. Please refer to the webcast details provided near the end of this release for information on how to attend. All amounts are expressed in Canadian dollars (‘C$), unless otherwise indicated.

Q1 2026 Highlights

Produced 5,667 ounces of gold

Sold 6,165 ounces of gold at an average realized gold price(2) of US$4,938(1)

Revenue of $41.8 million generating $15.3 million of income from mine operations

Adjusted net earnings(2) of $6.4 million, or $0.02 per basic share

EBITDA(2) of $3.3 million and adjusted EBITDA(2) of $14.4 million was generated

Cash cost(2) US$2,594(1) and all-in sustaining cost ("AISC")(2) US$ 4,678(1)

Quarter end cash balance of approximately $35.9 million

Financial key results for three months ended March 31, 2026(expressed in thousands of Canadian dollars, unless otherwise stated)

Operating Statistics

Units

For the three months ended, March 31, 2026 

Gold produced

ounces

5,667 

Gold sold

ounces

6,165 

Average realized gold price(1)

US$/ounce

4,938 

 

 

 

Financial Information

 

 

Gold revenue

$

41,755 

Income from mining operations

$

15,289 

Operating margin

%

37% 

EBITDA(2)

$

3,285 

Adjusted EBITDA(2)

$

14,398 

Adjusted net earnings(2)

$

6,376 

Adjusted earnings per share, basic(2)