Wesdome Initiates Quarterly Cash Dividend, Announces Dividend Reinvestment Plan, and Expands Share Buyback Program

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Wesdome Gold Mines Ltd

TSX: WDO

OTCQX: WDOFF

www.wesdome.com

WESDOME INITIATES QUARTERLY CASH DIVIDEND,

ANNOUNCES DIVIDEND REINVESTMENT PLAN, AND

EXPANDS SHARE BUYBACK PROGRAM

Toronto, Ontario – June 24, 2026 – Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the

“Company”) is pleased to announce that its Board of Directors (“Board”) has declared a quarterly cash dividend of

$0.0306 per common share (“ Share”) of the Company, which is payable on September 29, 2026 to shareholders

of record as at the close of business on the record date of September 15, 2026. All amounts are expressed in

Canadian dollars unless otherwise indicated.

The Board has also approved a dividend policy under which the Company intends, subject to quarterly Board

approval and certain relevant factors, to declare and pay a regular quarterly cash dividend of $0.0306 per Share,

or $0.1224 per Share on an annualized basis.

Anthea Bath, President and Chief Executive Officer commented, "The initiation of a dividend policy reflects our

financial strength, consistent free cash flow generation, and confidence in Wesdome's long -term growth strategy.

With updated mineral reserves underpinning our life -of-mine plans, and an expanded resource base supporting

future growth opportunities, we are well-positioned to fund organic initiatives while simultaneously returning capital

to shareholders through both dividends and share buybacks. Since launching our buyback program in November

2025, we have repurchased 6,013,300 shares for approximately $ 145 million, and today we are pleased to

announce its third expansion. As we continue to generate free cash flow, we remain committed to identifying further

opportunities to enhance shareholder returns."

The dividend is designated as an “eligible dividend” for Canadian income tax purposes.

In connection with the dividend, Wesdome has also approved the launch of a dividend reinvestment plan (the

“DRIP”) pursuant to which shareholders may elect to receive additional Shares purchased through the DRIP in lieu

of receiving the dividend paid in cash. More information on the DRIP will be announced by September.

The declaration, amount, and payment of future dividends remain subject to the discretion of the Board and will

depend upon the Company’s financial results, capital requirements, business conditions, compliance with

applicable legal and debt covenant requi rements and other factors considered relevant. The Company will review

its dividend policy on an ongoing basis and may amend it at any time. Accordingly, except for the initial dividend

declared herein, there can be no assurance that any future dividends will be declared and/or paid.

Normal Course Issuer Bid

Earlier today the Toronto Stock Exchange (“TSX”) approved the Company’s notice of intention to repurchase for

cancellation an additional number of common shares (the “Shares”) under its normal course issuer bid (“NCIB”) for

the 12-month period commencing on November 7, 2025 and ending on or before November 6, 2026.

Following receipt of the Board’s approval on October 16, 2025, the Company announced its intention to buy back

up to 3,013,315 Shares (the “first tranche”), representing approximately 2% of its public float in the open market

through the facilities of the TSX or alternative Canadian trading systems over the 12-month period ending on before

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November 6, 2026. On April 28, 2026, Wesdome completed the first tranche of its NCIB, repurchasing 3,013,300

Shares at an average price of $22.58 per Share, for aggregate consideration of approximately $68 million.

On June 23, 2026, the Company completed the second tranche of its normal course issuer bid, having repurchased

a total of 3,000,000 shares for approximately $7 7 million at an average price of $ 25.67 per share since May 19,

2026.

The repurchases have been facilitated through the TSX, CHIC, OMGA, XCX2, XCXD, and XTSE.

Today, the Company announced that the TSX has approved the Company’s notice of intention to increase the

number of common shares available for repurchase under its normal course issuer bid by up to an additional

3,000,000 Shares (the “third tranche”) durin g the period from July 2, 2026 to November 6, 2026, bringing the total

aggregate number of Shares the Company intends to repurchase up to 9,013,300, representing approximately 6%

of its public float in the open market through the facilities of the TSX or a lternative Canadian trading systems over

the 12-month period ending on or before November 6, 2026, which may be changed from time to time.

Wesdome believes that repurchasing Shares under the NCIB is an appropriate use of the Company’s financial

resources and is in the best interests of the Company and its shareholders. The Company will continue to be

opportunistic in its approach to Share repurchases under the NCIB, subject to market conditions and other factors.

In connection with the NCIB, on March 25, 2026, Wesdome entered into an automatic share purchase plan (the

“ASPP”) with National Bank Financial Inc. to allow for the repurchase of Shares at times when the Company

ordinarily would not be active in the market due to its own internal trading blackout periods. The ASPP constitutes

an “automatic plan” for purposes of app licable Canadian securities legislation and will terminate on the earliest of

the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the ASPP

otherwise terminates in accordance with its terms.

Purchases under the NCIB may be made through the facilities of the TSX or alternative Canadian trading systems,

including through the ASPP, in accordance with applicable securities laws and TSX rules. In accordance with TSX

rules, daily repurchases will be limited to a maximum of 182,093 Shares, representing 25% of the average daily

trading volume on the TSX of 728,373 Shares for the six-month period prior to October 16, 2025. The timing, volume

and price of any repurchases of Shares will be determined by the Company in accordance with applicable laws and

based on market conditions, trading price of the Shares, best use of available cash, and other factors.

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 Quebec. 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 Canadian gold

producer.

For More Information

Raj Gill Trish Moran

SVP, Corporate Development & Investor Relations VP, 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.

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Forward-looking information includes, without limitation, statements or information with respect to : the Company’s

new dividend and dividend policy, including management’s intention to provide a dividend on a quarterly basis; the

Company’s commitment to capital return initiatives while maintaining investment in organic growth initiatives ; the

Company’s long-term outlook and future free cash flow generation, the launch of the DRIP and the provision of

related DRIP documents to shareholders, and repurchases expected to be made under the third tranche of the

NCIB and the Company's ASPP.

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 Looki ng 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 Compan y’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.