Wesdome Files Updated Technical Reports FOR Eagle River and Kiena Mines; Establishes Long Life Reserve Plans with Substantial Upside Potential
Wesdome Gold Mines Ltd
TSX: WDO
OTCQX: WDOFF
www.wesdome.com
WESDOME FILES UPDATED TECHNICAL REPORTS
FOR EAGLE RIVER AND KIENA MINES; ESTABLISHES LONG LIFE RESERVE PLANS
WITH SUBSTANTIAL UPSIDE POTENTIAL
Toronto, Ontario – August 6, 2026 – Wesdome Gold Mines Ltd. (TSX:WDO , OTCQX:WDOFF) (“Wesdome” or the
“Company”) today announced that it has filed independent technical reports (the " Technical Reports ") prepared in
accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects ("NI 43-101") for its Eagle
River Mine ("Eagle River") in Ontario and its Kiena Mine ("Kiena") in Québec.
The Technical Reports entitled “Independent Technical Report for the Eagle River Mine, Ontario, Canada ” and “NI 43-
101 Technical Report and Feasibility Study for the Kiena Mine Complex , Val-d’Or, Québec, Canada” support and are
consistent in all material respects with the updated mineral reserve and mineral resource estimates and additional
disclosure in the Company's news release "Wesdome Extends Reserve Life to 8 Years at Both Mines, Establishes
Robust Free Cash Flow Profile, and Outlines Significant Organic Growth Pipeline ”, dated June 24, 2026.
Anthea Bath, President and Chief Executive Officer, stated: “The Technical Reports filed today provide independent
validation of the significant work our team has undertaken over the past several years to strengthen the foundation of
Wesdome. They establish the most robust reserve -based mine plans in the Company’s history, with both Eagle River
and Kiena now supported by eight -year operating plans that provide a resilient platform for disciplined execution and
sustainable growth.
“Importantly, at Kiena, we see a pathway to increasing annual production by approximately 10 –15% through additional
mining fronts, productivity improvements and continued technical optimization, while advancing Kiena East as a potential
future mining centre with meaningful scale. At Eagle River, our priority remains to maximize the value of our high -grade
underground operation while continuing to extend mine life and test the broader mineral system. Beyond Eagle River’s
underground mine, Mishi-Magnacon has the potential to support an open pit operation, and we expect to evaluate this
opportunity through a conceptual study over the next 12 to 18 months.
“Across both land packages, the Technical Reports define a substantial pipeline of exploration opportunities, ranging
from near-mine extensions to large-scale targets. We believe these opportunities demonstrate that Wesdome is evolving
beyond individual mines into two emerging mining districts, each with multiple pathways to extend mine life, enhance
infrastructure utilization and create long-term shareholder value.
“Wesdome is well positioned to capitalize on tangible opportunities to scale production and extend mine life. Our focus
remains on converting that potential into per -share value through disciplined execution and continued technical
advancement, while delivering returns to shareholders.”
The Technical Reports are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the
Company's website at www.wesdome.com.
About Wesdome
Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario
and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high -
quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.
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For More Information
Raj Gill Trish Moran
SVP, Corporate Development & Investor Relations Vice President, Investor Relations
Phone: +1.416.360.3743 Phone: +1.416.564.4290
E-Mail: [email protected] E-mail: [email protected]
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 substantial upside p otential of the
Company due to the filing of the Technical Reports; the pathway at Kiena to grow annual production by 10-15% through
additional mining fronts and productivity gains; Kiena East representing a potential future mining centre with meaningful
scale; Mishi-Magnacon having the potential to support a n open pit scenario , with the Company expecting to evaluate
through a conceptual study in the next 12-18 months; the Technical Reports defining a substantial pipeline of exploration
opportunities across both land packages ; the belief that the Company is evolving beyond individual mines into two
emerging mining districts ; and the Company being well positioned to capitalize on tangible opportunities to scale
production and extend mine life.
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 inco rrect, 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.