Vancouver, British Columbia - Frank Giustra and his related entities filed an early warning report pursuant to the early warning requirements of applicable securities laws in Canada with respect to holdings in West Red Lake Gold Mines Ltd. (formerly DLV Resources Ltd. ) (the 'Issuer' or 'West Red Lake').

Pursuant to a business combination transaction, on December 30, 2022, the Issuer acquired all of the issued and outstanding common shares of West Red Lake Gold Mines Inc. ('RLG') in consideration for the issuance of 0.1215 of a West Red Lake common share for each RLG common share acquired (the 'Transaction').

As a result of the Transaction, Frank Giustra acquired 7,540,034 common shares (the 'Shares') of the Issuer. Prior to the Transaction, Mr. Giustra owned or controlled 2,570,000 common shares of the Issuer, representing 17.29% of the then outstanding Shares of the Issuer.

After the Transaction, Mr. Giustra now owns and/or controls directly or indirectly, 10,110,034 Shares of the Issuer representing 19.44% of the outstanding common shares. Mr. Giustra acquired the Shares pursuant to the Transaction for investment purposes. Mr. Giustra has no present intention to acquire further securities of the Issuer, although the Offeror may in the future acquire or dispose of securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

Mr. Giustra has filed a Report on SEDAR pursuant to National Instrument 62-103 (Early Warning Report). A copy of the Report can be obtained from SEDAR at www.sedar.com.

Contact:

FRANK GIUSTRA

Suite 3123 - 595

Burrard Street Vancouver

BC V7X 1J1

Tel: (604) 609-6110

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