West Red Lake Gold Grants Equity Incentive Awards

West Red Lake Gold Mines Ltd. (TSXV: WRLG; OTCQB: WRLGF) announced on February 5, 2026, the awarding of stock options, restricted share units (RSUs), and deferred share units (DSUs) under its existing stock option plan and RSU/PSU/DSU Plan. A total of 4,839,269 stock options were granted to company officers, which will vest over three years—beginning with 25% vesting three months post-grant, with the remaining options vesting in equal installments on the first, second, and third anniversaries. These options carry an exercise price of CAD $1.10 and are valid for five years from the grant date.

Additionally, the company allocated 2,845,503 RSUs to its officers and 594,594 DSUs to non-executive directors. The RSUs will vest in equal parts over three years during the anniversaries of the grant date, while the DSUs will vest after one year. All awards are subject to regulatory acceptance by the TSX Venture Exchange.

For further details about the plans and material terms, stakeholders are encouraged to review the management information circular prepared for the Company's annual general meeting held on June 10, 2025, available on SEDAR+ and the company's website.

West Red Lake Gold Mines is focused on developing its Madsen Gold Mine and owns an extensive land package of 47 km² in the prolific Red Lake district of Ontario, known for its rich gold deposits that have produced over 30 million ounces of gold. The company also holds the wholly-owned Rowan Property, encompassing 31 km² that includes three former gold-producing mines.

For more information, investors can contact CEO Shane Williams or visit the company's website.

West Red Lake Gold Mines Ltd. (TSXV: WRLG, OTCQB: WRLGF) has recently made significant strides in incentivizing its management team through the issuance of stock options, restricted share units (RSUs), and deferred share units (DSUs). With 4,839,269 stock options granted to officers, vesting over a three-year period, this strategic move not only aligns management interests with shareholder value but also reinforces the company’s commitment to growth as it progresses in developing its Madsen Gold Mine and surrounding properties in Ontario's renowned Red Lake district.

At an exercise price of $1.10, these stock options offer a favorable entry point should the company's stock price appreciate, especially given the historical richness of the region, which has produced over 30 million ounces of gold. The staggered vesting schedule provides incentives for long-term performance, encouraging officers to enhance operational and developmental milestones over the next three years. The issuance of RSUs and DSUs further diversifies compensation and ensures non-executive directors are similarly invested in the company's success.

Investors looking to engage with WRLG should consider the implications of these equity awards on both the company's short-term performance and long-term growth potential. While the overall trend in gold markets remains influenced by macroeconomic factors such as inflation and global economic stability, WRLG operates in a high-grade gold mining jurisdiction, potentially mitigating risks associated with geopolitical factors.

Moreover, investors should keep a close eye on regulatory acceptance of these plans by the TSX Venture Exchange and monitor upcoming milestones detailed in the company’s management information circular. Given WRLG's strategic positioning and management alignment with shareholder value, it may present a compelling investment opportunity for those bullish on gold exploration and development.