West Red Lake Gold delivered strong second-quarter operating results, increasing mined tonnes by 46%, mined ounces by 73%, and gold production by 51% quarter-over-quarter while building a surface stockpile and remaining on track to meet its 2026 production guidance of 35,000–45,000 ounces.

Canada, 20th Jul 2026 – Global Stocks News – Sponsored content disseminated on behalf of West Red Lake Gold. On July 15, 2026, West Red Lake Gold Mines (TSXV: WRLG) (OTCQX: WRLGF) provided an operational update for the second quarter ended June 30, 2026.

Q2 Operating Highlights 

• Mined tonnage increased 46% to 75,524 tonnes in Q2 from 51,616 tonnes in Q1, while mined ounces increased 73% to 10,459 ounces from 6,033 ounces in the first quarter, reflecting both higher mining rates and an increase in average mined grade.
• Gold production totalled 8,576 ounces during Q2 2026, representing a 51% increase from the 5,667 ounces produced in Q1 2026.
• Due to increased mine productivity, a surface stockpile of approximately 10,768 tonnes had been generated by the end of Q2, representing approximately 1,500 contained ounces of gold based on estimated grades.
• The mill achieved average processing rates of approximately 842 tonnes per day (tpd). Over the second half of 2026, processing rates are expected to increase to approximately 1,000 tpd.

“Q2 demonstrated that the development-focused strategy implemented during the first half of 2026 is translating into measurable operating improvements as mine sequencing advanced to unlock multiple stoping fronts and operational flexibility continued to improve,” stated Shane Williams, CEO of West Red Lake Gold

“During the quarter, the mill sustained processing rates of approximately 842 tpd while underground mining rates averaged 878 tpd earlier in the quarter, however from mid quarter onward we mined over 1,000 tpd, allowing us to build a surface stockpile equivalent to approximately half a month of mill feed inventory.”

“Our ability to generate a stockpile of this size speaks to the operational efficiency of the team and our ability to mine at rates that exceed the currently permitted mill throughput of 800 tpd. Mining rates in excess of current mill capacity are an important indicator that the Mine is developing greater flexibility and overall consistency for sustained operations.”

“As processing rates during the first half of the year reflected the early stages of the ramp up, we expect throughput to continue increasing over the balance of the year toward a sustained processing rate of up to 1,000 tpd,” continued Williams. “The operational improvements demonstrated during Q2 reinforces our view that Madsen remains on track to achieve full-year production guidance of 35,000 to 45,000 ounces of gold.”

West Red Lake Gold is executing a hub-and-spoke growth strategy. The Madsen mill and infrastructure is intended to serve as a central processing hub for multiple past producing high-grade deposits across the Red Lake District.  WRLG believe this multi-asset approach will provide greater operational flexibility, expand margins, extend mine life, and support a larger production profile over time.

One of the key spokes is the Rowan Project. On June 9, 2026 WRLG announced an updated 2026 Mineral Resource Estimate (MRE) for the Rowan Project as well as a maiden MRE for the nearby Mount Jamie deposit , located 2 kilometres from Rowan.

“Despite relatively limited drilling since the June 2025 estimate, we have significantly grown the resource, most importantly in the Indicated category, thereby de-risking the project while also enhancing its quality,” stated Williams. “Overall, Rowan is developing into a highly robust satellite deposit.”

Rowan Indicated gold ounces increased by 70% to 334,825 ounces @13.03 grams per tonne (g/t) gold, compared to 196,747 ounces @12.78 g/t gold in the 2025 MRE (See news release dated July 8, 2025).

Rowan Inferred gold ounces increased by 52% to 179,013 oz grading 15.31 g/t Au, compared to 421,181 tonnes containing 118,155 oz grading 8.73 g/t Au in the 2025 MRE. 

Minimal exploration expenditure of C$3.5 million, combined with low drilling meters of 6,300 metres, represented a modest discovery cost of approximately C$17.60/oz gold.

In this July 14, 2026 Kitco News interview, Brien Lundin, the executive editor of Gold Newsletter and host of the New Orleans Investment Conference, explains why he believes gold’s 4-month swoon from $5,500 per ounce to $4,000 was a “classic washout” not a breakdown. 

“We’re in a market now that’s being driven by western traders and investors,” Lundin told Kitco. “Central bank buying is less of a driver and more of a support to the price. It’s a typical bull market, where we have furious rallies, then stomach-churning drops that test your mettle. It’s nothing unusual.”

“Trump wants to lower interest rates,” added Lundin. “The simple math of the US debt and deficit demands lower rates, so it’s going to happen.”

When interest rates drop, the price of gold typically rises because it reduces the opportunity cost of holding gold compared to interest-bearing assets like bonds. Historically, falling interest rates often lead to a weaker U.S. dollar, making gold cheaper for international buyers, further driving up demand.

The total U.S. national debt is currently $39.51 trillion, translating to a debt burden of $117,000 for every U.S. citizen. Interest on the US national debt is now about $1 trillion annually, exceeding Medicare spending for the first time.

“The cost of servicing that debt needs to be lower than the rate at which the currency is depreciating,” Lundin stated in a 2024 interview. “Otherwise, the entire house of cards collapses.” Lundin has speculated that gold may rise to $6,000-$8,000 within the current cycle.

During ramp-up phase in 2025, West Red Lake Gold Mines generated C$103 million in total gold revenues. Investing in a junior gold miner with rising production and free cash flow, is one way to hedge against the effects of exploding U.S. debt, and spirally interest payment obligations.

Source: Congressional Budget Office

TheMadsen Mine has recently achieved commercial production and is positioned as the central hub of a growing multi asset platform. WRLG controls a 47 km² land package in one of the world’s most prolific mining districts, which has historically produced over 20 million ounces of gold from high grade systems. [1]

The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, and by Hayley Halsall-Whitney, P.Eng., Vice President of Operations for West Red Lake Gold and the Qualified Person for technical services at the West Red Lake Project, as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Robinson and Ms. Halsall-Whitney are not independent of WRLG.

1. Twomey, T. and McGibbon, S. Red Lake Mine, Goldcorp Inc. (2022). “The Geological Setting and Estimation of Gold Grade of the High-Grade Zone, Red Lake Mine.” Exploration Mining Geology, Vol. 10, Nos. 1–2, pp. 19–34. Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”).

Contact: guy.bennett@globalstocksnews.com 

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