On April 17, 2023, West Red Lake Gold Mines Ltd. (WRLG) announced its intent to acquire the Madsen Gold mine from Pure Gold Mining Inc. through the purchase of all outstanding shares of Pure Gold. The acquisition, subject to the British Columbia Supreme Court's approval in connection with Pure Gold's CCAA Proceedings, entails WRLG paying $6.5 million cash, issuing 28,460,000 common shares, and granting a 1.0% secured NSR on the Madsen Mine. Additionally, deferred consideration payments can reach up to US$10.0 million. A significant share and NSR portion is expected to go to Sprott Resource Lending Corp., as they are Pure Gold's senior secured lender. In correlation with this, WRLG has engaged with Canaccord Genuity for a private placement yielding gross proceeds of $20,000,050 with an underwriter's option of $5,000,100. The Madsen Mine, previously valued at a market capitalization of over $1.15 billion in 2021, has a historical investment exceeding $350M. It holds an approximate historical indicated mineral resource of 1.7 million oz Au and an inferred resource of 0.4 million oz Au. Located in the esteemed Red Lake mining district, Madsen is neighbored by industry giants including Evolution Mining, Kinross Gold, and Barrick Gold. WRLG expects this transaction to bolster its standing, turning it into a debt-free and well-capitalized explorer in the Red Lake gold camp. The acquisition agreement requires finalization by May 1, 2023, and WRLG has secured financing support from investor Frank Giustra, who owns 18.1% of WRLG's shares.