Wesdome Announces Q3 2024 Production; ON Track FOR Record Production Year
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Wesdome Gold Mines Ltd
TSX: WDO
OTCQX: WDOFF
www.wesdome.com
WESDOME ANNOUNCES Q3 2024 PRODUCTION;
ON TRACK FOR RECORD PRODUCTION YEAR
Toronto, Ontario – October 17, 2024 – Wesdome Gold Mines Ltd. (TSX: WDO , OTCQX: WDOFF) (“Wesdome”
or the “ Company”) today announces its production results for the third quarter ended September 30, 2024 (“Q3
2024” and “YTD 2024”). The Company is also providing notice that it will release its Q3 2024 financial results after
markets close on Wednesday, November 6, 2024 and host a conference call and webcast the following morning.
Q3 and YTD 2024 Production Performance
Q3 2024 Q3 2023 YTD 2024 YTD 2023
Ore milled (tonnes)
Eagle River 57,984 55,153 162,168 167,959
Mishi – – – 6,150
Kiena 51,321 47,351 154,334 141,499
Total ore milled 109,305 102,504 316,502 315,608
Head grade (grams per tonne)
Eagle River 13.1 11.9 13.4 12.1
Mishi – – – 2.3
Kiena 13.1 4.9 11.1 5.2
Gold production (ounces)
Eagle River 23,688 20,391 67,860 63.395
Mishi – – – 332
Kiena 21,421 7,369 54,607 23,392
Total production 45,109 27,760 122,467 87,119
Production sold (ounces) 42,900 27,000 118,600 89,000
Anthea Bath, President and CEO of Wesdome, commented, “As expected, the third quarter delivered solid results,
marking a steady and consistent improvement over each of the first two quarters of 2024.
“Eagle River is having a strong year. It continues to deliver quarter over quarter , benefiting from improved access
to high-grade ore and consequently higher than planned mill throughput. Ramp development at depth along the
300 Zone continues to track ahead of plan, ensuring consistent access to high grade ore through the remainder of
the year and into 2025.
“At Kiena, we are making excellent progress in mining high-grade ore from the 129 -level horizon and expect to
finish the year on a strong note. Our focus remains o n improving execution consistency and achieving key
milestones, including the development of the Presqu'île exploration ramp and advancing the Kiena Deep ramp to
level 136, which will unlock a new mining horizon and enable us to explore extensions of the orebody.
“This operational momentum sets us up to achieve the mid-point of our 2024 production guidance range of 160,000
to 180,000 ounces , as we continue to optimize our operations and advance our exciting pipeline of near -mine
exploration targets at both Eagle River and Kiena.”
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Conference Call and Webcast
Management will host a conference call and webcast to discuss the Company’s Q3 and YTD 2024 financial and
operating results. A question-and-answer session will follow management’s prepared remarks. Details of the webcast
are as follows:
Date and time: Thursday, November 7, 2024 at 10:00 a.m. ET
Dial-in numbers: To access the call by telephone, dial 1.646.968.2525 or 1.888.596.4144 (toll-free). The
event passcode is: 8215935. Please allow up to 10 minutes to be connected.
Webcast link: https://events.q4inc.com/attendee/802915383
Pre-registration 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 from the home page of the
Company’s website at www.wesdome.com.
The financial statements and management ’s discussion and analysis will be available on the Company’s website
at www.wesdome.com and on SEDAR+ www.sedarplus.ca the evening of November 6, 2024.
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 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 Canada’s next intermediate gold producer.
For further information, please contact:
Raj Gill, SVP, Corporate Development & Investor Relations
Trish Moran, VP, Investor Relations
Phone: +1 (416) 360-3743
E-Mail: [email protected]
Technical Disclosure
The technical and geoscientific content of this release have been reviewed, and approved by Guy Belleau, P.Eng,
Chief Operating Officer of the Company and Niel de Bruin, P. Geo, Director of Geology for Wesdome, each 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 informat ion includes, without limitation, statements regarding the Company’s production and
financial performance for the remainder of 2024, the anticipated growth in gold production and operating cash flow,
the continuation of high-grade material from the Eagle R iver and Kiena mines and the achievement of long -term
sustainable growth.
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
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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 forwar d-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.