Subject: BOARD OF DIRECTORS
West Red Lake Gold Strengthens Management Team
VANCOUVER, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. ("West Red Lake Gold" or "WRLG" or the "Company") (TSXV:WRLG) (OTCQB: WRLGF) is pleased to announce the appointment of Harpreet Dhaliwal to the position of Chief Financial Officer effective November 15, 2023.
Shane Williams, President & Chief Executive Officer, commented, "On behalf of entire West Red Lake Gold team, I would like to welcome Harpreet to the organization, and we are delighted to have someone of Harpreet's caliber join the team. Harpreet's experience in the mining industry in the CFO role is well established, and she joins West Red Lake Gold at an exciting time in the Company's stage of development."
Harpreet Dhaliwal, CPA, CA, is a highly regarded and accomplished financial executive with 16 years of extensive experience in the resource sector. A graduate of The University of British Columbia, Ms. Dhaliwal commenced her career in the public accounting field before transitioning to the resource sector working with Uranium One Inc., American Bonanza Gold Corp., Endeavour Mining Corp., Fiore Management & Advisory Corp and Leagold Mining Corp.
Most recently, Ms. Dhaliwal served as the Chief Financial Officer at NexGen Energy Ltd. Ms. Dhaliwal was responsible for implementing controls across the organization which led to NexGen's successful inaugural SOX compliance reporting. She successfully led the filing of the $500M Base Shelf Prospectus and the $250M At-the-Market Equity Program and ensured compliance on all listed exchanges including Toronto Stock Exchange, New York Stock Exchange and Australian Securities Exchange. She was also responsible for the implementation of an ERP system, maintaining the Company's IT infrastructure, and working with the project teams on delivering effective budgeting, forecasting and management reporting.
At her previous role at Leagold Mining Corp as CFO, she was responsible for the design and implementation of financial and management reporting, treasury, and working with the operations and project teams on developing budgets and forecasts for multiple producing multi-jurisdictional mines. She was a valuable member of a team that successfully completed numerous mergers and acquisitions supported by debt and equity financings and led integrated lean and efficient finance teams.
The Company would like to thank current CFO & Corporate Secretary, Jasvir Kaloti for her continued dedication and contributions. Jasvir Kaloti will remain as the Corporate Secretary following the appointment of Harpreet Dhaliwal as CFO on November 15, 2023.
The Company further announces that it has entered into an agreement dated September 14, 2023 to issue 50,000 common shares (the "Debt Shares") of the Company at a deemed price of $0.60 per Debt Share in settlement of $30,000 of amounts owing to an arm's length creditor. The issuance of the Debt Shares is subject to the prior approval of the TSX Venture Exchange.
ABOUT WEST RED LAKE GOLD MINES LTD.
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:
Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: [email protected] or visit the Company's website at https://www.westredlakegold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward-looking statements", including, among others, statements relating to expectations regarding the appointment of Harpreet Dhaliwal, and the issuance of the Debt Shares in settlement of certain accounts payable. When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a4c4f83-4230-4299-9acc-c12ff6f10f82
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