Wesdome Gold Mines Ltd.

Wesdome Gold Mines Ltd. reported that drill hole SH-26-001 at its wholly-owned Kiena mine near Val-d'Or, Quebec, intersected 3.1 g/t Au uncapped over 106.5 metres core length, or 2.6 g/t Au capped, at the Shawkey 10 target. The hole, a follow-up to S-21-831 which intersected 2.3 g/t Au over 72.0 metres in 2021, approximately doubles the grade thickness of that previous intersection and expanded the interpreted thickness of the diorite host rock from approximately 80 metres to more than 200 metres, with mineralization throughout. The broad interval included 20.4 g/t Au uncapped over 10.8 metres, 5.6 g/t Au over 6.2 metres and 3.1 g/t Au over 9.2 metres, and at depth the hole also cut a broad zone of 250 metres of mineralization hosting another eight intercepts grading over 1.0 g/t Au, including 1.6 g/t Au over 23.4 metres from 914 metres. President and Chief Executive Officer Anthea Bath said the results provide further evidence of the scale and breadth of the Kiena system and a meaningful step forward in understanding what the Kiena East corridor, currently comprising the Shawkey 10, Shawkey Mine, 134 and Dubuisson zones, could become. To date, a total of 102 surface drill holes, including SH-26-001, have been completed at Shawkey 10 for a total of 25,725 metres, and the company said Shawkey 10 remains open down-plunge and along strike as a high-priority growth target.

Wesdome Gold Mines reported higher second-quarter profit, with earnings rising to C$93.96 million, or C$0.63 per share, from C$82.70 million, or C$0.55 per share, in the same period last year. Revenue for the quarter increased 27.9% to C$266.76 million from C$208.55 million a year earlier.