Ms. Anthea Bath reports

WESDOME ANNOUNCES THIRD QUARTER PRODUCTION RESULTS; PROVIDES CONFERENCE CALL DETAILS

Wesdome Gold Mines Ltd. has released third quarter (Q3) results.

  
 
                  Q3 2023 OPERATING PERFORMANCE
 
                                   Q3 2023 Q3 2022 YTD 2023 YTD 2022
                                                                     
Ore milled (tonnes)                                                  
Eagle River                         55,153  52,247  167,959  165,428 
Mishi                                   --   3,595    6,150   23,153 
Kiena                               47,351  16,112  141,499   63,752 
Total Ore Milled                   102,505  71,954  315,608  252,333 
                                                                     
Head grade (grams per tonne)                                  
Eagle River                           11.9    10.7     12.1     10.6  
Mishi                                   --     2.8      2.3      3.2   
Kiena                                  4.9    10.2      5.2      9.5   
                                                                     
Gold production (ounces)                                             
Eagle River                         20,391  17,405   63,395   54,495 
Mishi                                   --     270      332    2,005  
Kiena                                7,369   5,208   23,392   19,234 
Total gold production               27,760  22,883   87,119   75,734 
                                                                     
Production sold (ounces)            27,000  27,500   89,000   81,500 
                                                                     

Notes: Numbers may not add due to rounding.

Anthea Bath, president and chief executive officer, commented: "As expected, combined production in Q3 was slightly lower than Q2 (30,992 ounces) as a result of planned mill maintenance at Eagle River. At Kiena, ramp development continues to track ahead of schedule, positioning us well to develop and access higher-grade reserves in H1 2024. We are also pleased to announce that towards the end of the quarter, we received the necessary permit required to drive an exploration ramp at Presqu'ile. This authorization allows us to assess the continuity of the mineralization and test the down-plunge extension of the deposit.

"With an uptick in production expected in the fourth quarter, our year-to-date performance of 87,119 ounces has us tracking to the midpoint of our 110,000-to-130,000-ounce guidance range.

"The company also announces that it has issued its fourth annual environmental, social and governance (ESG) report, which provides an overview of the company's ESG strategies, policies, risk management approach and commitments. The report also outlines year-over-year company performance from 2018 to 2022 across these key sustainability objectives. We are proud of our accomplishments over the last year and remain committed to strong sustainability performance in the future."

A copy of the 2022 ESG report can be found on the company's website in the responsibility section under policies and reports.

Technical disclosure

The technical content of this release has been compiled, reviewed and approved by Frederic Langevin, Eng, chief operating officer of the company, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Third quarter 2023 conference call and webcast

The company will release its third quarter 2023 financial results after market close on Nov. 8, 2023. At that time, the financial statements and management discussion and analysis will be available on the company's website and on SEDAR+. A conference call and webcast to discuss these results will be held on Nov. 9 at 10 a.m. ET.

Participants may register for the call to obtain dial-in details. Preregistration is required for this event. It is recommended you join 10 minutes prior to the start of the event.

The webcast can also be accessed under the news and events section of the company's website

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 commissioned Kiena mine in Quebec. 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.

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