Wesdome Announces 2021 First Quarter Production of 22,564 Ounces of Gold Produced

TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO) (“Wesdome” or the “Company”) today announces its gold production results for the first quarter of 2021 (“Q1”).

Mr. Duncan Middlemiss, President and CEO commented, “First quarter production of 22,564 ounces was within our expectations. Eagle River grades were slightly below the low end of our guidance, however increased through the quarter, reaching 15.3 g/t in the month of March and we expect to be within guidance for the year. Underground operations showed steady improvement in efficiencies throughout the quarter and this trend is expected to continue. Mill throughput increased by 6% over Q1 2020 due to higher mill availability. Quarterly gold production is expected to increase for the remainder of the year. We remain on track to achieve our guidance of 92,000 – 105,000 ounces at the Eagle River Mine this year.

“At Kiena we completed the reconciliation of the Kiena Deep A Zone bulk sample, resulting in a positive reconciliation of 6% more gold compared to that of the mineral resource block model and subsequently sold 1,793 ounces in Q1 2021 (3,293 ounces to date). We are in the final stages of completing the pre-feasibility study and intend to publish the results this quarter.”

Amounts are denominated in Canadian dollars	First Quarter
	2021	2020	Variance	% +/(-)
Ore milled (tonnes)
Eagle River	53,540	55,874	-2,334	(4%)
Mishi	17,219	11,047	6,172	56%
	70,759	66,922	3,837	6%
Head grade (grams per tonne, “g/t”)
Eagle River	12.8	14.0	(1.2)	(9%)
Mishi	2.5	2.5	0.0	0%
Gold production (ounces)
Eagle River	21,396	24,457	-3,061	(13%)
Mishi	1,169	665	504	76%
Total Gold Production	22,564	25,122	-2,558	(10%)
Production sold (ounces) 2	22,457	26,500	-4,043	(15%)
Average realized price per ounce 3	$2,219	$2,162	57	3%
Revenue from gold sales ($ millions) 4	$49.8	$57.3	($7.5)	(13%)

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