WDO.TO · 2020-09-15 12:00:00

Wesdome Announces Kiena Deep a Zone Drill Results, VC1 Zone Extension, and Advances Access Development Towards the a Zone Mineralization FOR Future Bulk Sample

Drill Results Metallurgy & Processing

PRESS

RELEASE

September 15, 2020

TSX:WDO

WESDOME ANNOUNCES KIENA DEEP A ZONE DRILL RESULTS, VC1

ZONE EXTENSION, AND ADVANCES ACCESS DEVELOPMENT

TOWARDS THE A ZONE MINERALIZATION FOR FUTURE BULK

SAMPLE

Toronto, Ontario – September 15, 2020 – Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome”

or the “Company”) today announces additional results from underground definition drilling and

development activities at the Company’s 100% owned Kiena Mine Complex in Val d'Or, Quebec.

Kiena Deep A Zone Drilling

Seven underground drills are in operation completing primarily definition drilling, with a lesser amount

of extension drilling, of the Kiena Deep A Zone (the “A Zone”). Between May and August, a total of

21 holes totalling approximately 6,770 metres (“m”) were drilled within the A Zone and are being

reported below. This drilling has continued to confirm the overall continuity of the geometry and the

high-grade gold mineralization of the A Zone and identified additional mineralization down plunge of

the most recent resource estimate (Figure 1). The A Zone now extends down plunge in excess of 880

Highlights of the recent A Zone drilling are listed below and summarized in Table 1.

• Hole 6584W1: 151.1 g/t Au over 13.1 m core length (35.4 g/t Au cut, 4.0 m true width) A2

Zone

• Hole 6584W2: 96.0 g/t Au over 10.8 m core length (25.7 g/t Au cut, 3.5 m true width) A2

Zone

• Hole 6668: 157.7 g/t Au over 2.7 m core length (27.3 g/t Au cut, 2.6 m true width) A Zone

• Hole 6583W1: 55.1 g/t Au over 6.5 m core length (31.4 g/t Au cut, 3.0 m true width) A1

Zone

All assays cut to 90.0 g/t Au. True widths are estimated.

Mr. Duncan Middlemiss, President and CEO commented, “We are pleased with the ongoing drilling

program that continues to focus on definition drilling of the high grade A Zone, in order to convert

inferred resources to indicated resources, in advance of an updated resource estimate later in the year

and subsequent incorporation into the PFS. The PFS will be used to determine the viability of mining

the existing resources in the immediate reach of the Kiena Mine to justify a mine restart. Longer term,

our focus will turn to the remaining resources on the Kiena property and the exploration potential.

Drilling productivity was initially challenged upon the return to work May 11th due to manpower

issues arising from the COVID-19 regional quarantines in Quebec; however, we now currently have

a full complement of drillers and our drilling program is back on track. Recent drilling has indicated

the VC1 zone has now been extended down plunge over 475 metres. This zone is reasonably accessible

to existing infrastructure and could be an important source of mineralization in the early days of any

future mine restart.”

“In addition, we are excited about advancing the access development towards the upper levels of the

A Zone mineralization that will position the Company to take a bulk sample, which will validate the

geological block model and assess the geomechanical conditions in order to complement the quality

of the work being done in the PFS.”

Recent drilling completed from the 79 level exploration ramp has focussed on the down dip extensions

of the VC zones, namely the VC1 zone. To date drilling the VC zones below 79 level has been

challenged by a series of faults, which will require additional development off the 79 level to provide

for a new drill platform. Drilling of the VC1 zone has returned a number of anomalous intersections

and extended the zone to depth, which is now interpreted as a separate structure having a different

orientation. The mineralization of the VC 1 zone has transitioned from a more sulphide rich

mineralization found in the upper extents of the mine, to a quartz rich environment with visible gold

present at depth, which is congruent with many global high grade deposits. Drilling has extended the

VC1 zone 475 m down plunge from 67 Level to 107 Level, where development and drilling are

presently being completed (Figure 2). Previous drilling, and t wo holes from this campaign , namely

Hole 6654 (64.0 g/t Au cut over 1.9 m true width (“ TW”)) and Hole 6688 (5.5 g/t Au over 3.0 m

TW) have provided support to the VC1 zone extending to Hole 6531 (previously released) which

intercepted 31.1 g/t Au over 5.1 m (24.3 g/t Au cut over 3.9 m TW) and indicates the higher grade

potential of the VC1 with depth. The VC1 zone could be accessed by the 67, 79 and 10 7 levels that

have been recently established. The VC1 zone remains open at depth and will be a focus for ongoing

drilling.

Kiena Deep A Zone Development

In addition to the ongoing drilling , access development is currently being completed towards the A

Zone on 111 Level so as to position the Company to take a bulk sample. Future bulk sampling on the

A Zone will provide an opportunity to assess the geological block model and rock quality

characteristics and will provide the necessary information to complete the ongoing Prefeasibility Study

(“PFS”), expected to be completed by H1 2021.

Surface Exploration Drilling

Data compilation, combined with the recent MT and Airborne Mag surveys in the area immediately

adjacent to the Kiena mine has resulted in a new geologic interpretation and has identified a number

of exploration targets for drilling. A 10,000 m surface drilling program has commenced to test these

targets from surface. These in itial targets are located along the Marbenite Fault (within 1.5 km from

Kiena Mine Complex).

TECHNICAL DISCLOSURE

The technical and geoscientific content of this release has been compiled, reviewed and approved by

Bruno Turcotte, P.Geo., (OGQ #453) Senior Project Geologist of the Company and a "Qualified

Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Analytical work was performed by ALS Minerals of Val -d’Or (Quebec), a certified commercial

laboratory (Accredited Lab #689). Sample preparation was done at ALS Minerals in Val d'Or

(Quebec). Assaying was done by fire assay methods with an atomic absorption finish. Any sample

assaying >3 g/t Au was rerun by fire assay method with gravimetric finish, and any sample

assaying >10 g/t Au was rerun with the metallic sieve method. In addition to laboratory internal

duplicates, standards and blanks, the geology department inserts blind duplicates, standards and blanks

into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME

Wesdome Gold Mines has had over 30 years of continuous gold mining o perations in Canada. The

Company is 100% Canadian focused with a pipeline of projects in various stages of development. The

Company’s strategy is to build Canada’s next intermediate gold producer, producing 200,000+ ounces

from two mines in Ontario and Q uebec. The Eagle River Complex in Wawa, Ontario is currently

producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a

central mill. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or,

Quebec. The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tonne-

per-day mill. The Company has further upside at its Moss Lake gold deposit, loc ated 100 kilometres

west of Thunder Bay, Ontario. The Company has approximately 138.5 million shares issued and

outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.

For further information, please contact:

Duncan Middlemiss or Lindsay Carpenter Dunlop

President and CEO VP Investor Relations

416-360-3743 ext. 2029 416-360-3743 ext. 2025

[email protected] [email protected]

220 Bay St, Suite 1200

Toronto, ON, M5J 2W4

Toll Free: 1-866-4-WDO-TSX

Phone: 416-360-3743, Fax: 416-360-7620

Website: www.wesdome.com

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial or operating

performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”,

“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words

and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or b e achieved. Forward -looking

statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company

to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements

contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a

result of new information, future events or results or otherwise. There can be no assurance that forward -looking statements will prove to be accurate, as actual

results and future events could differ materially from those anticipated in such statements. The Company undertakes no obliga tion 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. The Company has included in this news release certain non-IFRS performance measures, including,

but not limited to, mine operating profit, mining and processing costs and cash costs. Cash costs per ounce reflect actual mine operating costs incurred during the

fiscal period divided by the number of ounces produced. These measures are not defined under IFRS and therefore should not be considered in isolation or as an

alternative to or more meaningful than, net income (loss) or cash flow from operating activities as determined in accordance with IFRS as an indicator of our

financial performance or liquidity. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain in vestors use

this information to evaluate the Company's performance and ability to generate cash flow

Table 1: Kiena Complex Drilling Assay and Composite Results

Composites

Hole No.

From

(m)

Core

Length (m)

Estimated True

width (m)

Grade

(g/t Au)

Cut Grade (90 g/t

Au) Name Zone

6654 256.4 258.4 2.0 1.9 76.70 63.95 VC1 Zone

6658 155.9 174.6 18.8 10.4 9.25 9.25 A Zone

6659 140.6 144.9 4.3 3.0 37.61 21.41 A Zone

6661* 275.5 280.4 4.9 2.3 60.99 22.88 A Zone

6662 237.0 243.2 6.2 4.3 5.68 5.68 A Zone

6668 138.3 141.0 2.7 2.6 157.67 27.30 A Zone

6669* 138.7 153.8 15.1 9.0 10.52 10.52 A Zone

6672* 474.9 482.9 8.0 6.7 7.77 7.77 A Zone

6684 271.8 278.0 6.2 5.2 71,.11 30.71 A Zone

6685 264.9 267.4 2.5 2.4 32.54 32.54 A Zone

6686* 249.3 251.2 1.9 1.8 41.05 41.05 A Zone

6583W1 356.8 363.3 6.5 3.0 55.13 21.42 A1 Zone

6583W3 127.4 130.4 3.0 2.0 12.13 12.13 A1 Zone

6583W4 170.5 181.2 10.7 4.3 5.92 5.92 A1 Zone

6584W2 216.2 221.8 5.6 2.3 6.45 6.45 A1 Zone

6603AW1 288.0 292.0 4.0 2.0 8.45 8.45 A2 Zone

6603AW2 293.0 308.2 15.2 3.0 6.71 6.71 A1 Zone

6668 152.0 158.0 6.0 4.0 16.07 16.07 A1 Zone

6704* 483.8 507.2 23.4 12.5 10.55 10.55 A1 Zone

6583W2 444.7 463.7 19.0 7.5 28.81 25.42 A2 Zone

6583W3 142.1 151.8 9.7 3.0 70.11 30.42 A2 Zone

6584W1 245.2 258.3 13.1 4.0 151.06 35.40 A2 Zone

6584W2 275.2 286.0 10.8 3.5 96.03 25.70 A2 Zone

6661 300.0 304.0 4.0 2.6 31.48 23.98 A2 Zone

6668 166.0 173.0 7.0 6.5 5.99 5.99 A2 Zone

6688 212.3 215.3 3.0 2.9 5.48 5.48 VC1 Zone

6704* 534.7 539.7 5.0 2.3 51.59 30.87 A2 Zone

* Metallic Sieve Analysis Pending

Assays

Hole No.

From

(m)

Core Length

(m)

Grade (g/t

Au)

Name

Zone

6583W1 356.8 358.0 1.2 1.94 A1 Zone

6583W1 358.0 358.7 0.7 117.00 A1 Zone

6583W1 358.7 359.4 0.7 376.00 A1 Zone

6583W1 359.4 360.1 0.7 7.28 A1 Zone

6583W1 360.1 361.1 1.0 3.84 A1 Zone

6583W1 361.1 362.2 1.1 0.67 A1 Zone

6583W1 362.2 363.3 1.1 1.10 A1 Zone

6583W2 444.7 445.7 1.0 4.82 A2 Zone

6583W2 445.7 446.7 1.0 3.89 A2 Zone

6583W2 446.7 447.7 1.0 8.89 A2 Zone

6583W2 447.7 448.7 1.0 2.72 A2 Zone

6583W2 448.7 449.7 1.0 8.54 A2 Zone

6583W2 449.7 450.7 1.0 0.23 A2 Zone

6583W2 450.7 451.6 0.9 0.56 A2 Zone

6583W2 451.6 452.5 0.9 1.25 A2 Zone

6583W2 452.5 453.5 1.0 9.42 A2 Zone

6583W2 453.5 454.5 1.0 1.21 A2 Zone

6583W2 454.5 455.5 1.0 66.50 A2 Zone

6583W2 455.5 456.5 1.0 15.75 A2 Zone

6583W2 456.5 457.5 1.0 92.90 A2 Zone

6583W2 457.5 458.5 1.0 151.50 A2 Zone

6583W2 458.5 459.5 1.0 24.90 A2 Zone

6583W2 459.5 460.5 1.0 44.60 A2 Zone

6583W2 460.5 461.5 1.0 34.20 A2 Zone

6583W2 461.5 462.5 1.0 9.78 A2 Zone

6583W2 462.5 463.7 1.2 54.90 A2 Zone

6583W3 127.4 128.4 1.0 4.41 A1 Zone

6583W3 128.4 129.4 1.0 1.88 A1 Zone

6583W3 129.4 130.4 1.0 30.10 A1 Zone

6583W3 142.1 143.1 1.0 362.00 A2 Zone

6583W3 143.1 144.1 1.0 34.40 A2 Zone

6583W3 144.1 145.1 1.0 24.30 A2 Zone

6583W3 145.1 146.1 1.0 203.00 A2 Zone

6583W3 146.1 147.1 1.0 23.30 A2 Zone

6583W3 147.1 148.1 1.0 4.46 A2 Zone

6583W3 148.1 149.1 1.0 12.25 A2 Zone

6583W3 149.1 150.1 1.0 7.51 A2 Zone

6583W3 150.1 150.8 0.7 3.28 A2 Zone

6583W3 150.8 151.8 1.0 6.55 A2 Zone

6583W4 170.5 171.5 1.0 9.44 A1 Zone

6583W4 171.5 172.7 1.2 1.13 A1 Zone

6583W4 172.7 173.7 1.0 0.90 A1 Zone

6583W4 173.7 174.7 1.0 2.92 A1 Zone

6583W4 174.7 175.7 1.0 2.51 A1 Zone

6583W4 175.7 176.7 1.0 0.48 A1 Zone

6583W4 176.7 178.0 1.3 5.36 A1 Zone

6583W4 178.0 178.8 0.8 2.48 A1 Zone

6583W4 178.8 179.6 0.8 1.03 A1 Zone

6583W4 179.6 180.4 0.8 24.20 A1 Zone

6583W4 180.4 181.2 0.8 20.80 A1 Zone

6584W1 245.2 246.2 1.0 7.75 A2 Zone

6584W1 246.2 247.2 1.0 4.21 A2 Zone

6584W1 247.2 248.2 1.0 0.16 A2 Zone

6584W1 248.2 249.1 0.9 14.00 A2 Zone

6584W1 249.1 250.3 1.2 699.00 A2 Zone

6584W1 250.3 251.3 1.1 0.55 A2 Zone

6584W1 251.3 252.3 1.0 0.20 A2 Zone

6584W1 252.3 253.3 0.9 12.60 A2 Zone

6584W1 253.3 254.2 0.9 759.00 A2 Zone

6584W1 254.2 255.2 1.0 297.00 A2 Zone

6584W1 255.2 256.2 1.0 70.80 A2 Zone

6584W1 256.2 257.3 1.1 65.80 A2 Zone

6584W1 257.3 258.3 1.0 6.77 A2 Zone

6584W2 216.2 217.2 1.0 10.60 A1 Zone

6584W2 217.2 218.2 1.0 0.49 A1 Zone

6584W2 218.2 219.1 0.9 2.46 A1 Zone

6584W2 219.1 220.0 0.9 3.51 A1 Zone

6584W2 220.0 220.9 0.9 6.83 A1 Zone

6584W2 220.9 221.8 0.9 15.00 A1 Zone

6584W2 275.2 276.2 1.0 54.10 A2 Zone

6584W2 276.2 277.2 1.0 40.40 A2 Zone

6584W2 277.2 278.2 1.0 0.34 A2 Zone

6584W2 278.2 279.2 1.0 2.43 A2 Zone

6584W2 279.2 280.2 1.0 0.09 A2 Zone

6584W2 280.2 281.2 1.0 0.49 A2 Zone

6584W2 281.2 282.2 1.0 0.35 A2 Zone

6584W2 282.2 283.2 1.0 10.25 A2 Zone

6584W2 283.2 284.2 1.0 7.08 A2 Zone

6584W2 284.2 285.1 0.9 460.00 A2 Zone

6584W2 285.1 286.0 0.9 564.00 A2 Zone

6603AW1 288.0 289.0 1.0 17.65 A1 Zone

6603AW1 289.0 290.0 1.0 8.64 A1 Zone

6603AW1 290.0 291.0 1.0 4.67 A1 Zone

6603AW1 291.0 292.0 1.0 4.42 A1 Zone

6603AW2 293.1 294.6 1.5 9.73 A1 Zone

6603AW2 294.6 295.1 0.5 2.57 A1 Zone

6603AW2 295.1 296.4 1.3 16.45 A1 Zone

6603AW2 296.4 297.4 1.0 1.39 A1 Zone

6603AW2 297.4 298.4 1.0 16.40 A1 Zone

6603AW2 298.4 299.4 1.0 2.79 A1 Zone

6603AW2 299.4 300.4 1.0 0.59 A1 Zone

6603AW2 300.4 301.4 1.0 1.05 A1 Zone

6603AW2 301.4 302.4 1.0 8.79 A1 Zone

6603AW2 302.4 303.5 1.1 0.75 A1 Zone

6603AW2 303.5 304.0 0.5 0.94 A1 Zone

6603AW2 304.0 305.0 1.0 1.75 A1 Zone

6603AW2 305.0 306.1 1.1 1.24 A1 Zone

6603AW2 306.1 307.2 1.1 30.00 A1 Zone

6603AW2 307.2 308.2 1.0 11.20 A1 Zone

6654 256.4 257.4 1.0 37.90 VC1 Zone

6654 257.4 258.4 1.0 115.50 VC1 Zone

6658 155.9 156.9 1.1 72.90 A Zone

6658 156.9 157.9 1.0 2.90 A Zone

6658 157.9 158.8 0.9 1.35 A Zone

6658 158.8 159.3 0.5 8.48 A Zone

6658 159.3 160.3 1.0 0.70 A Zone

6658 160.3 161.3 1.0 2.48 A Zone

6658 161.3 162.3 1.0 1.96 A Zone

6658 162.3 163.3 1.0 3.13 A Zone

6658 163.3 164.3 1.0 0.28 A Zone

6658 164.3 165.3 1.0 5.82 A Zone

6658 165.3 166.3 1.0 3.48 A Zone

6658 166.3 167.3 1.0 0.94 A Zone

6658 167.3 168.3 1.0 4.55 A Zone

6658 168.3 169.3 1.0 0.75 A Zone

6658 169.3 170.3 1.0 2.66 A Zone

6658 170.3 171.0 0.6 5.84 A Zone

6658 171.0 171.9 1.0 3.26 A Zone

6658 171.9 172.9 1.0 0.12 A Zone

6658 172.9 173.8 0.9 0.11 A Zone

6658 173.8 174.6 0.8 72.30 A Zone

6659 140.6 141.6 1.0 0.19 A Zone

6659 141.6 142.6 1.0 1.86 A Zone

6659 142.6 143.6 1.0 0.21 A Zone

6659 143.6 144.3 0.7 189.50 A Zone

6659 144.3 144.9 0.6 44.70 A Zone

6661 275.5 276.0 0.5 1.73 A Zone

6661 276.0 276.9 0.9 0.04 A Zone

6661* 276.9 278.1 1.2 244.00 A Zone

6661 278.1 278.9 0.8 0.54 A Zone

6661 278.9 280.4 1.5 1.14 A Zone

6661 300 301 1.0 120.00 A2 Zone

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