Wesdome Announces Third Quarter 2025 Operating Results and Record Quarterly Production

All amounts are expressed in Canadian dollars unless otherwise indicated

TORONTO, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announces its operating results for the three and nine months ended September 30, 2025 (“Q3 2025” and “YTD 2025”). The Company is also providing notice that it will release its financial results after markets close on Tuesday, November 4, 2025, and host a conference call and webcast the following morning.

Q3 and YTD 2025 Operating Performance

Anthea Bath, President and Chief Executive Officer, commented, “This quarter’s consolidated production of more than 50,000 ounces set a new high-water mark for Wesdome driven by record production from Eagle River.

“Eagle River had an exceptional third quarter, once again setting records for mill throughput and gold production. Benefits from ongoing efforts to debottleneck the mill, improve dilution, and increase ore availability are materializing and resulting in increased production at lower unit costs, all while advancing critical development. Eagle River is on track to deliver the high-end of full-year production guidance.

“As previously indicated, Kiena conducted a longer than planned hoist shutdown in July, which resulted in more than two weeks without mill feed. While forecasts at the time suggested that the shortfall could be recovered, inconsistent execution together with limited operational flexibility continued to impact performance through August and September. Kiena’s fourth quarter is expected to be its strongest of the year, as high-grade ore from Kiena Deep is augmented by ore from Presqu’île. Kiena’s 2025 guidance will be updated with the release of our financial results in early November. Importantly, we remain on track to meet full-year consolidated production guidance, albeit toward the lower end of the range.

“With record gold prices and strong production driving substantial free cash flow, our financial position continues to grow and strengthen – with $266 million in cash and total liquidity of more than $600 million at the end of September. This allows us to advance our organic growth initiatives while initiating a return of capital to shareholders. Accordingly, we have filed a notice of intention with the Toronto Stock Exchange to implement a normal course issuer bid for Wesdome shares.

“We are also pleased to announce the recent publication of our sixth annual Environmental, Social, and Governance Report which reflects our ongoing commitment to safe operations, meaningful partnerships with Indigenous and local communities, and reducing our environmental impact. Responsible mining is at the heart of Wesdome’s role as a trusted neighbor and employer.”

Wesdome’s 2024 Environmental, Social, and Governance report has been filed on SEDAR+ and can be found here.

Conference Call and Webcast

Management will host a conference call and webcast to discuss the Company’s financial and operating results. A question-and-answer session will follow management’s prepared remarks. Details of the webcast are as follows:

The Company’s financial statements and management’s discussion and analysis will be available at www.wesdome.com and on SEDAR+ www.sedarplus.ca the evening of Tuesday, November 4, 2025.

About Wesdome

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, the Eagle River mine in Ontario and the Kiena mine in Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a growing value-driven gold producer.

For Further Information

Technical Disclosure

The technical and geoscientific content of this press release have been reviewed, and approved by Guy Belleau, P.Eng, Chief Operating Officer of the Company, a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, which is based on expectations, estimates, projections, and interpretations as of the date of this release. Forward-looking information includes, without limitation, statements regarding: the timing of the Company’s Q3 2025 financial results and related conference call and webcast; Eagle River being on track to achieve the high end of full-year production guidance; the expectation of a stronger fourth quarter for Kiena; the expected update and timing of Kiena’s 2025 guidance in early November 2025; and the Company being on track to meet full-year consolidated production guidance, albeit toward the lower end of the range.

These forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled “Cautionary Note Regarding Forward Looking Information” and “Risks and Uncertainties” in the Company’s most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in our most recent Annual Information Form which is available on SEDAR+ and on the Company’s website.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management’s estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

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