Red Lake Gold Inc. Retains Fladgate Exploration for a Phase II Fall Soil Sampling Program at the Whirlwind Jack Gold Project

Vancouver, British Columbia, September 9, 2024 - Red Lake Gold Inc. (CSE: RGLD)(“Red Lake Gold” or the "Corporation") announces that it has contracted Thunder Bay-based Fladgate Exploration Consulting Corporation (“Fladgate”) to perform a follow-up field exploration program (the “Phase II Fall Soil Sampling Program”) at its Whirlwind Jack Gold Project (“Whirlwind Jack”) located near Red Lake, Ontario.

“We are pleased to be immediately putting the majority of the capital raised last week to work for additional field exploration at Whirlwind Jack. Having had timely access to those funds in a challenging junior mining equity market allows Red Lake Gold to follow-up and infill upon the prospective soil sampling areas we previously reported on last month and importantly to gather additional data ahead of seasonal ground condition changes,” stated Ryan Kalt, Chief Executive Officer of the Corporation.

Based on its proprietary exploration work to-date, Red Lake Gold believes that its Whirlwind Jack Gold Project may host a westerly extension of a prominent regional fault, commonly referred to as the LP Fault, which has already been identified on a mining project that adjoins the Whirlwind Jack Gold Project (the Great Bear Project, being advanced by Kinross Gold Corporation). Red Lake Gold is seeking to determine if gold endowment also exists at its Whirlwind Jack Gold Project within the potential area of this interpreted westerly extension and now more specifically, within priority areas of interest identified, in part, from exploration work done by the Corporation during 2024.

To views held by Red Lake Gold, the Phase II Fall Soil Sampling Program is expected to more intensely focus within and close to a significant mag low corridor situated at the Whirlwind Jack Gold Project (compared to a broader project-wide soil sampling program completed earlier this year). 

As indicated, Red Lake Gold expects that the Phase II Fall Soil Sampling Program, which is scheduled to commence later this month, shall be fully funded using proceeds from the commission-free, non-brokered financing that the Corporation closed in September 2024 (see news release, Red Lake Gold Inc. Closes Previously Announced Financing, dated September 4, 2024).

The Corporation has 45,239,169 common shares issued and outstanding.

Red Lake Gold, through ongoing work by its management team, is engaged in the continuous process of prioritizing a core project area for the Whirlwind Jack Gold Project to forward-comprise and explore as capital access, field conditions and other relevant project and corporate-related matters allow. Red Lake Gold notes that both the Box Target and Bug Lake Target (see news release, Red Lake Gold Inc. Identifies Gold-In-Soil Anomalies, Highlights Multi-Kilometre Target Area Adjoining LP Fault, dated August 13, 2024) have been integrated within that currently identified core area. 

The Phase II Fall Soil Sampling Program will focus on collecting hundreds of infill samples in and around the more prominent results previously reported on at the Box Target and Bug Lake Target (see again the news release, Red Lake Gold Inc. Identifies Gold-In-Soil Anomalies, Highlights Multi-Kilometre Target Area Adjoining LP Fault, dated August 13, 2024).  Subject to successful completion, the Corporation currently anticipates receiving laboratory results for its Phase II Fall Soil Sampling Program approximately 6 to 7 weeks following completion of the in-field work.

The Corporation shall endeavor to update shareholders on the results of the anticipated field program in the ordinary and appropriate course.

The Corporation cautions that the exploration potential of and any exploration results from the Whirlwind Jack Gold Project may differ, materially, from exploration results of adjoining and/or regional projects, including but not limited to the adjacent Great Bear Project being advanced by Kinross Gold Corporation.

Qualified Person

The technical information in this news release has been reviewed and approved by Michael Thompson, P.Geo, Fladgate Exploration Consulting Corporation’s President, who is a Qualified Person as defined by National Instrument 43-101 and responsible for the technical information for this phase of exploration on the Whirlwind Jack Gold Project.

About Red Lake Gold Inc.

Red Lake Gold Inc. is a Vancouver-based junior mining exploration company, traded on the Canadian Securities Exchange (CSE) under the symbol “RGLD”. For more information, please visit www.redlakegold.ca. 

The Corporation is subject to various risks and uncertainties, including those risks and uncertainties set out in its public filings, such public filings generally being available, without limitation, through SEDAR+ (www.sedarplus.ca) and the Corporation’s Disclosure Hall on the CSE website (thecse.com/listings/red-lake-gold-inc/#disclosure).

On Behalf of the Board of Directors

Ryan Kalt
Chief Executive Officer
T: 604.687.2038
Email: info@redlakegold.ca

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the Corporation’s intention to conduct exploration work at its Whirlwind Jack Gold Project, the timing and completion of such exploration work and the results of such exploration work, including but not limited to the Phase II Fall Soil Sampling Program, and to the extent any such work is successfully completed, as well as to the general exploration potential of the Whirlwind Jack Gold Project held by the Corporation and the ability of the Corporation to access funding to advance and/or sustain its forward-looking corporate intentions/plans. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.