DLV RESOURCES LTD. AND WEST RED LAKE GOLD MINES INC. ANNOUNCE BINDING AGREEMENT FOR BUSINESS COMBINATION

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OR TO A U.S. PERSON/

VANCOUVER, BC, Aug. 16, 2022 /CNW/ - DLV Resources Ltd. ("DLV") (TSXV:DLV-H.VN) and West Red Lake Gold Mines Inc. ("RLG") (CNSX:RLG.CN) are pleased to announce that they have entered into an arm's length binding agreement (the "Agreement") pursuant to which DLV has agreed to acquire all of the issued and outstanding common shares of RLG in consideration for the issuance of 0.1215 of a DLV common share for each RLG common share acquired (the "Transaction").    Upon closing of the Transaction, it is intended that DLV will be listed on Tier 2 of the TSX Venture Exchange as a Mining Issuer and that the RLG common shares will be de-listed from the CSE.