Mr. Warwick Morley-Jepson reports

WESDOME EXPLORATION DRILLING CONTINUES TO EXPAND HIGH GRADE 300 EAST ZONE DOWN PLUNGE AT THE EAGLE RIVER MINE RETURNING 40.7 GRAMS PER TONNE GOLD CUT OVER 6.0 METRES TRUE WIDTH

Wesdome Gold Mines Ltd. has released results from the continuing underground exploration drilling program at the company's wholly owned Eagle River mine in Wawa, Ont.

Continuing extension and definition drilling of the 300 East zone has continued to confirm the continuity of the geometry and the consistency of the high-grade mineralization down plunge. The 300 East zone, previously defined from the 750-metre level to 1,400-metre level, has now been extended to the 1,600-metre level and remains open down plunge. The width of the quartz veining is typically less than 1.5 metres true width; however, recent drilling along the eastern margin of the 300 East zone has returned wider widths. This occurs in an area that is interpreted to be at the intersection of several structures having different orientations and/or folding resulting in wider zones of gold mineralization. These wider widths and more complex geometry are similar to that of the previously mined 303 lens, located approximately 400 metres up plunge from this area, which was mostly mined in 2019.

Highlights of the recent drilling are found as follows and are summarized in the attached table.

• Hole 925-E-231: 77.6 grams per tonne gold over 9.4 metres core length (40.7 g/t Au cut; 6.0 m true width):
  • Including 225.1 g/t Au over 3.0 m core length;
• Hole 925-E-233: 42.6 g/t Au over 4.9 m core length (42.3 g/t Au cut; 1.7 m true width):
  • Including 62.8 g/t Au over 3.3 m core length;
• Hole 771-E-33: 150.7 g/t Au over 2.8 m core length (51.7 g/t Au cut; 1.6 m true width):
  • Including 497.8 g/t Au over 0.7 m core length.

All assays were cut to 140.0 g/t Au. True widths are estimated.

Warwick Morley-Jepson, board chair and interim chief executive officer, commented: "These results continue to confirm the geometry and high grades of the 300 East zone. The objective of drilling this zone is to define a second, higher-grade lens similar to the previously mined 303 lens that could potentially positively impact gold production. The 303 lens was mined primarily in 2019 and average muck grade was 46.1 g/t.

"Additionally, the drilling of the 300 East zone confirms the continuity of the mineralization at depth, thus suggesting that many other similar zones, such as 808, 811, 818, 711 and 7 East, have this same potential to continue at depth.

"Elsewhere at Eagle River, the company is following up on multiple encouraging drill intersections last year both west of and along strike of, and subparallel to the Falcon 7 zone, including the western extension of the 311 West and 5 zones in the volcanic rocks. Any resources discovered in this area could meaningfully enhance the future operational flexibility of the asset.

"Meanwhile, we remain focused in 2023 on converting a large, inferred base into indicated and measured resources and subsequently reserves."

Technical disclosure and quality assurance/quality control

The sampling of and assay data from drill core are monitored through the implementation of a QA/QC program designed to follow industry best practice. Underground drill samples are transported in sealed bags to the Eagle River mine assay office in Wawa, Ont. Samples are analyzed for gold using standard fire assay technique with gravimetric finish. Wesdome inserts blanks and certified reference standards into the sample sequence for quality control at the laboratory. The QA/QC procedure is described in more detail in the 2022 technical report filed on SEDAR on April 22, 2022.

The technical content of this release has been compiled, reviewed and approved by Aliou Sene, PGeo, chief mine geologist at the Eagle River complex of the company, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Wesdome Gold Mines Ltd.

Wesdome is a Canadian-focused gold producer with two high-grade underground assets -- the Eagle River mine in Ontario and the recently restarted Kiena mine in Quebec. The company also retains meaningful exposure to the Moss Lake gold deposit in Ontario through its equity position in Goldshore Resources Inc. The company's primary goal is to responsibly leverage this operating platform and high-quality brownfield and greenfield exploration pipeline to build Canada's next intermediate gold producer. Wesdome trades on the Toronto Stock Exchange under the symbol WDO, with a secondary listing on the OTCQX under the symbol WDOFF.

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