Latest news with #AntheaBath
Hamilton Spectator
5 days ago
- Business
- Hamilton Spectator
Wesdome Gold Mines Completes Acquisition of Angus Gold
All amounts are expressed in Canadian dollars unless otherwise indicated TORONTO, June 27, 2025 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) ('Wesdome' or the 'Company') and Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) ('Angus') are pleased to announce the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome pursuant to a plan of arrangement (the 'Arrangement'). The Arrangement became effective as of today's date, resulting in Angus becoming a wholly owned subsidiary of Wesdome. In accordance with the terms of the Arrangement, former Angus shareholders, excluding Wesdome, have received $0.62 in cash plus 0.0096 of a Wesdome share for each Angus common share previously held. 'The acquisition of the prospective Angus property adjacent to our Eagle River Mine represents an exciting addition to our portfolio, enhancing our long-term growth potential through greenfield opportunities,' said Anthea Bath, President and Chief Executive Officer. 'This regional land package consolidation supports our disciplined growth strategy, and we're pleased to welcome key members of the Angus team as we work to unlock meaningful value for our shareholders.' 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 growing value-driven gold producer. Forward-Looking Statements This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the future financial and operating performance of Wesdome and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wesdome to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Wesdome disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: (i) expectations for the effects of the Arrangement or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (ii) the potential benefits and synergies of the Arrangement, and (iii) expectations for other economic, business, and/or competitive factors. 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 Looking Information' and 'Risks and Uncertainties' in Wesdome's most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in Wesdome's most recent Annual Information Form which is available on SEDAR+ ( ). PDF available:
Yahoo
5 days ago
- Business
- Yahoo
Wesdome Gold Mines Completes Acquisition of Angus Gold
All amounts are expressed in Canadian dollars unless otherwise indicated TORONTO, June 27, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) ('Wesdome' or the 'Company') and Angus Gold Inc. (TSX-V: GUS, OTC: ANGVF) ('Angus') are pleased to announce the successful acquisition by Wesdome of all of the issued and outstanding common shares of Angus not already owned by Wesdome pursuant to a plan of arrangement (the 'Arrangement'). The Arrangement became effective as of today's date, resulting in Angus becoming a wholly owned subsidiary of Wesdome. In accordance with the terms of the Arrangement, former Angus shareholders, excluding Wesdome, have received $0.62 in cash plus 0.0096 of a Wesdome share for each Angus common share previously held. 'The acquisition of the prospective Angus property adjacent to our Eagle River Mine represents an exciting addition to our portfolio, enhancing our long-term growth potential through greenfield opportunities,' said Anthea Bath, President and Chief Executive Officer. 'This regional land package consolidation supports our disciplined growth strategy, and we're pleased to welcome key members of the Angus team as we work to unlock meaningful value for our shareholders.' 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 growing value-driven gold producer. Contacts Raj Gill Trish Moran Interim Chief Financial Officer Vice President, Investor Relations Phone: +1.416.360.3743 Phone: +1.416.564.4290 E-Mail: invest@ E-mail: Forward-Looking Statements This news release contains 'forward-looking information' which may include, but is not limited to, statements with respect to the future financial and operating performance of Wesdome and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wesdome to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Wesdome disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: (i) expectations for the effects of the Arrangement or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (ii) the potential benefits and synergies of the Arrangement, and (iii) expectations for other economic, business, and/or competitive factors. 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 Looking Information' and 'Risks and Uncertainties' in Wesdome's most recent Annual Information Form. Readers are urged to carefully review the detailed risk discussion in Wesdome's most recent Annual Information Form which is available on SEDAR+ ( PDF available: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Wesdome Provides Kiena Exploration Update; Reports High-Grade Mineralization Including 2,349.9 g/t Gold (Uncut) Over 2.9 Metres (Core Length)
TORONTO, June 25, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) ('Wesdome' or the 'Company') today provides a comprehensive update on its underground exploration activities at its wholly-owned Kiena mine ('Kiena') in Val-d'Or, Québec (Figure 1). Anthea Bath, President and Chief Executive Officer, stated, 'With 21,000 metres of exploration drilling completed so far this year at Kiena alone, our 2025 exploration program is progressing exceptionally well. The completion of new underground drill platforms last year has significantly expanded our reach, improved drill angles, and provided access to targets that were previously unavailable to drill from underground. This is delivering exactly the flexibility and precision we need to ensure resource growth keeps up with higher production levels. 'In particular, drilling in Kiena Deep and the Kiena Deep Footwall Zone has delivered encouraging results. The intersection of high grades on the North Limb of the A1 and A2 lenses supports the conversion of high-grade inferred material and reinforces confidence in our ability to mine these zones effectively given their location within competent basalt. Importantly, drilling year-to-date has confirmed the validity of our geological models, further reinforcing the potential to expand existing resources. 'Advancing the fill-the-mill strategy is a key part of our exploration program, and early results from the B Zone and the Wish Area suggest these zones could provide future incremental sources of ore. Each of these areas is adjacent to existing infrastructure, allowing for efficient development should they meet required grade and tonnage thresholds. We continue to evaluate these and other opportunities, including Presqu'île and Dubuisson as we advance the broader exploration program. 'Looking forward, we are excited to ramp up the summer barge drilling program, targeting high priority areas identified in last year's summer program, including those at the Duchesne and Northwest zones. Surface drilling at Presqu'île and underground drilling at Dubuisson will also commence imminently. With both the underground and surface programs active, we look forward to highlighting the full upside potential at Kiena.' Highlights Kiena Deep – North Limb (Figures 2,3,4, Table 1)1,2 Hole N127-7035: 2,349.9 g/t Au uncapped over 2.9 m core length (32.6 g/t Au capped)3 Hole N127-7035: 89.0 g/t Au uncapped over 3.6 m core length (23.2 g/t Au capped, 3.3 m true width) Kiena Deep – Footwall Zone (Figures 2,3,4, Table 1)1,2 Hole N127-6948: 482.8 g/t Au over 4.3 m core length (53.7 g/t Au capped, 2.4 m true width) including: 1,460.0 g/t Au uncapped over 1.0 m core length (90.0 g/t Au capped, 0.5 m true width) 565.0 g/t Au uncapped over 1.0 m core length (90.0 g/t Au capped, 0.5 m true width) Hole N127-6949: 331.0 g/t Au uncapped over 15.1 m core length (44.8 g/t Au capped, 6.5 m true width) including: 1,515.0 g/t Au uncapped over 1.2 m core length (90.0 g/t Au capped, 0.5 m true width) 2,210.0 g/t Au uncapped over 0.8 m core length (90.0 g/t Au capped, 0.3 m true width) 677.0 g/t Au uncapped over 0.8 m core length (90.0 g/t Au capped, 0.3 m true width) 342.0 g/t Au uncapped over 1.2 m core length (90.0 g/t Au capped, 0.5 m true width) Hole N127-6950: 119.4 g/t Au uncapped over 9.2 m core length (33.2 g/t Au capped, 5.9 m true width) including: 619.0 g/t Au uncapped over 0.8 m core length (90.0 g/t Au capped, 0.3 m true width) 391.0 g/t Au uncapped over 0.8 m core length (90.0 g/t Au capped, 0.3 m true width) Hole N127-7053: 70.2 g/t Au uncapped over 3.8 m core length (52.3 g/t Au capped, 3.1 m true width) B Zone (Figure 5, Table 1)1,2 Hole N125-7039: 39.2 g/t Au uncapped over 3.5 m core length (25.7 g/t Au capped)3 Wish Area (Figures 6,7, Table 1)1,2,3 Hole N033-6998: 13.8 g/t Au uncapped over 3.3 m core length Hole N033-6998: 25.4 g/t Au uncapped over 3.5 m core length 1 Assays capped at 90 g/t. Assays for Wish Area capped at 35 g/t.2 Cut off grade of 3.14 g/t assigned for individual assays and no more than two continuous samples below cut off grade (internal dilution) were used within composite band for geological continuity.3 True width currently unavailable. Technical Details Kiena Deep and Footwall Zones The establishment of new drilling platforms on the 127-level in 2024 has provided significantly improved drilling angles towards Kiena Deep and the Kiena Deep Footwall zones. Results to date have continued to better define the Footwall Zone, extending known lenses and increasing confidence in the validity of the geological model. Concurrently, drilling has also confirmed the high-grade nature of the A1 and A2 lenses on the North Limb of Kiena Deep, returning high-grade results within the competent basalt hanging wall of the Kiena Deep Zone. Additional drilling is planned throughout the second half of 2025 with a focus on upgrading inferred resources in the Kiena Deep and Kiena Deep Footwall zones. Development of a new 300-metre exploration drift on the 134-level began in early March 2025 and the first two drilling platforms are now complete. This drift will provide at least five new drilling platforms and will further improve drilling angles for down-plunge exploration in Kiena Deep as well as testing the down-plunge extension of B Zone. B Zone The B Zone is a known area of mineralization, currently classified as an inferred resource, near existing infrastructure for Kiena Deep and S50. Previously modeled as a single lens of relatively low-grade material, conversion drilling at B Zone in the first half of 2025 has identified the presence of multiple stacked lenses with minor visible gold in certain areas. While gold grades to date in the B Zone are lower than the average grades seen in Kiena Deep, this area presents an important opportunity to advance Kiena's fill-the-mill strategy as it has the potential to provide incremental tonnage near existing infrastructure. Additionally, the mineralized lenses in the B Zone are hosted in basalt providing favourable ground conditions for future mining. The mineralization remains open at depth, and further drilling is planned to evaluate the potential for continuity and increasing grade with depth. Wish Zone Drilling from level 33 in the first half of 2025 has focused primarily on testing the Wish area. Conversion drilling in the main Wish Zone confirmed the down-plunge extension of the orebody, returning moderate grades and thicknesses. Larger-scale exploration to the east of the Wish Zone has identified several interesting gold-bearing intervals that merit follow-up with additional drilling. Hole N033-6998 intersected two intervals with high-grade mineralization in an area with no previous intercepts. One interval returned an average gold grade of 13.8 g/t Au uncapped over 3.3 m core length approximately 200 metres to the southeast of the Wish Zone. This mineralized zone consists of millimetre to centimetre veinlets of quartz-carbonate-chlorite with traces of very fine to very coarse disseminated cubic pyrite hosted in ultramafic rock, with visible gold noted. The second interval, near the northwestern extent of underground workings at the historic Shawkey mine, returned 25.4 g/t Au uncapped over 3.5 m core length within a dioritic dyke. The presence of a stockwork of 10-20% white to greyish quartz veinlets, millimetre to centimetre in size, with pyrite and visible gold suggests that this interval could be a northwest extension of the Shawkey Main mineralization. Follow up drilling is planned in the second half of 2025 from level 33 to the east of the Wish Zone, for optimal intersection angles. VC Zone In 2024, 300 metres of underground development was completed on the 109-level, providing two new drilling platforms to test the possible down-plunge extension of the VC Zone below 1,090 metres vertical depth. Since December 2024, nine holes have been drilled in an attempt to reach the VC Zone. Due to poor ground conditions between the drill bay and the target, only two of these holes reached the planned depth of 400 metres, and neither of those holes intercepted the target as planned. The seven remaining holes were abandoned before reaching the target depth. Recognizing the geological potential of the VC Zone, Wesdome will extend the 109-level exploration drift by 200 metres to reduce hole lengths and improve drill success rates by targeting competent basalt ground. Development will begin in the third quarter, and drilling is expected to recommence in the fourth quarter of 2025. 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 growing value-driven gold producer. Raj Gill Trish Moran Interim Chief Financial Officer Vice President, Investor Relations Phone: +1.416.360.3743 Phone: +1.416.564.4290 E-Mail: invest@ E-mail: Technical DisclosureThe technical and geoscientific content of this release has been compiled, reviewed, and approved by Bruno Turcotte, (OGQ #453) Geology Superintendent of the Kiena mine a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Analytical work was performed by ALS Minerals of Val-d'Or (Quebec), a certified commercial laboratory (Accredited Lab #689). Sample preparation was completed at ALS Minerals in Val d'Or (Quebec). Assaying comprised fire assay methods with an atomic absorption finish. Any sample assaying >10 g/t Au was re-run using the fire assay method with gravimetric finish, and also with the metallic sieve method. In addition to laboratory internal duplicates, standards, and blanks, the geology department inserts blind duplicates, standards, and blanks into the sample stream at a frequency of one in twenty to monitor quality control. Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including but not limited to statements relating to the Kiena Mine regarding: the requirements needed to ensure resource growth keeps up with higher production levels; the drilling results in Kiena Deep and the Kiena Deep Footwall Zone; Wesdome's confidence in its ability to mine the Kiena Deep and the Kiena Deep Footwall Zone, along with the potential to expand their existing resources; the potential for the B Zone and the Wish Area to provide future incremental sources of ore; the development efficiency of the B Zone and the Wish Area based on their location to existing infrastructure; the timing of the commencement of surface drilling at Presqu'île and underground drilling at Dubuisson; the potential upside of the Kiena Mine; the confidence in the validity of the geological model of Kiena Deep and the Kiena Deep Footwall zones; the timing and focus of the planned additional drilling at Kiena Deep and the Kiena Deep Footwall zones; the benefits of the new 300-metre exploration drift on the 134-level that was recently completed; the potential for the B Zone to advance the fill-the-mill strategy and provide incremental tonnage; the planned further drilling in the B Zone; the prospectivity of certain intervals in the Wish Zone, and the potential for those intervals to represent extension of existing mineralization; the timing and details of the planned follow up drilling at the Wish Zone; and the timing and details of the planned extension of the 109-level exploration drift in the VC Zone and subsequent drilling. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements of Wesdome to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of Wesdome has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. Appendix Figure 1: Kiena Southern Corridor Plan ViewFigure 2: Kiena Deep and B Zone Plan View (Left) and Long Section Looking Southwest (Right)Figure 3: Kiena Deep Long Section Looking Southwest (1,200 m - 1,600 m)Figure 4: Kiena Deep Long Section Looking Southwest (1,500 m - 1,700 m)Figure 5: B Zone Long Section Looking SouthwestFigure 6: Wish Area Drilling Plan ViewFigure 7: Wish Zone Drilling Plan View (Left) and Long Section Looking Southwest (Right)Table 1: Kiena Drill Results (Previously Unreleased) Figures in table may not add due to rounding Hole No. From (m) To (m) Core Length (m) Estimated True Width (m) Grade(g/t Au) Cut Grade(90 g/t Au) Target Wish Area N033-6933 176.0 179.7 3.7 2.5 3.62 3.62 Wish N033-6935 231.1 234.0 2.9 - 5.51 5.51 - N033-6937 77.6 80.6 3.0 - 8.92 8.92 - N033-6937 134.5 138.5 4.0 3.5 8.14 8.14 Wish N033-6937 162.5 166.2 3.7 2.5 4.93 4.93 Wish N033-6961* 121.0 125.0 4.0 2.8 4.10 4.10 Wish N033-6962* 71.3 74.6 3.3 1.8 4.14 4.14 Wish N033-6963* 98.3 102.3 4.0 4.0 3.35 3.35 Wish N033-6965* 47.7 51.1 3.3 3.2 3.60 3.60 Wish N033-6971 63.3 68.2 4.9 4.8 5.85 5.85 Wish N033-6976 133.8 137.5 3.7 - 3.60 3.60 - N033-6998 294.4 297.7 3.3 - 13.81 13.81 - N033-6998 458.3 461.8 3.5 - 25.39 25.39 - N033-7081 79.0 82.1 3.1 - 6.21 6.21 - N033-7003 21.0 24.5 3.0 - 10.84 10.84 - Kiena Deep – North Limb N127-6955 139.1 143.0 3.9 3.6 24.03 24.03 A1 Zone N127-6957 106.8 110.8 4.0 3.5 6.18 6.18 A Zone N127-6988 79.9 83.8 3.9 2.3 3.24 3.24 A Zone N127-7008 53.3 57.6 4.3 - 7.59 7.59 - N127-7010 31.0 34.5 3.5 - 8.34 8.34 - N127-7033 21.3 24.8 3.5 3.0 24.86 15.51 A2 Zone N127-7035 76.6 79.5 2.9 - 2,349.88 32.63 - N127-7035 105.0 108.6 3.6 3.3 88.98 23.23 A1 Zone N127-7035 113.3 116.8 3.5 3.3 8.95 8.95 A2 Zone N127-7035 125.2 129.3 4.1 - 29.05 29.05 - N127-7035 136.8 140.0 3.2 - 12.55 12.55 - N127-7042 110.5 114.5 4.0 3.8 27.80 18.78 A Zone N127-7042 129.2 132.9 3.7 3.3 28.16 14.65 A1 Zone N127-7044 134.5 137.7 3.2 2.0 8.08 8.08 A Zone N127-7044 140.0 146.6 6.6 3.4 14.66 14.66 A1 Zone N127-7044 153.0 156.2 3.2 - 8.96 8.96 - N127-7065 115.7 119.0 3.3 - 4.35 4.35 - N127-7065 124.2 128.7 4.5 3.7 25.41 22.60 A Zone N127-7065 161.1 165.0 3.9 3.7 12.33 12.33 A1 Zone N127-7066 146.3 151.2 4.9 4.1 10.14 10.14 A ZoneHole No. From (m) To (m) Core Length (m) Estimated True Width (m) Grade(g/t Au) Cut Grade(90 g/t Au) Target B Zone N125-7037 157.0 169.0 12.0 - 4.26 4.26 - N125-7037 185.0 190.0 5.0 - 5.98 5.98 - N125-7039 138.0 141.5 3.5 - 39.17 25.74 - N125-7041 127.4 131.1 3.7 - 7.44 7.44 - N125-7041 163.0 173.0 10.0 - 3.60 3.60 - N125-7041 188.0 194.0 6.0 - 4.29 4.29 - N125-7071 235.0 240.3 5.3 - 5.58 5.58 - N125-7071 245.0 248.0 3.0 - 3.28 3.28 - N125-7071 292.0 296.1 4.1 - 3.17 3.17 - N125-7072 136.5 140.5 4.0 - 3.41 3.41 - N125-7072 186.7 189.8 3.1 - 3.17 3.17 - N125-7073 120.0 125.0 5.0 - 3.13 3.13 - N125-7073 182.3 190.5 8.2 - 3.26 3.26 - N125-7074 172.7 183.0 10.3 - 3.77 3.77 - N125-7074 187.7 194.5 6.8 - 3.99 3.99 - N125-7074 257.0 260.3 3.3 - 3.19 3.19 - Footwall Zone N127-6943 337.5 345.7 8.2 7.0 43.15 28.56 A Zone N127-6944 303.5 307.3 3.8 3.2 20.31 13.45 A Zone N127-6947 369.6 374.2 4.6 2.5 6.69 6.69 A Zone N127-6947 389.4 393.6 4.2 2.2 7.63 7.63 A1 Zone N127-6948 349.9 355.7 5.8 2.8 27.67 17.30 A Zone N127-6948 387.4 391.7 4.3 2.4 482.79 53.72 A1 Zone N127-6949 357.4 372.5 15.1 6.5 330.96 44.79 A1 Zone N127-6949 379.3 384.0 4.7 3.1 65.13 21.72 A2 Zone N127-6950 343.3 347.5 4.2 2.2 5.56 5.56 A Zone N127-6950 368.8 378.0 9.2 5.9 119.37 33.18 A1 Zone N127-6951 314.7 325.8 11.1 - 6.79 6.79 - N127-6951 368.0 371.7 3.7 3.0 3.80 3.80 BZA1 N127-6951 431.7 436.4 4.7 2.6 39.83 39.12 A2 Zone N127-6951 445.2 449.0 3.8 - 4.13 4.13 - N127-6953 314.7 327.0 12.3 4.5 29.07 16.63 A1 Zone N127-6954A 421.5 429.0 7.5 3.9 30.19 20.43 A Zone N127-6954A 449.9 471.0 21.1 3.6 49.98 32.95 A1 Zone N127-7053 332.8 340.3 7.5 7.1 4.27 4.27 A Zone N127-7053 421.2 425.0 3.8 3.1 70.23 52.29 BFW_4 Zone N127-7053 446.0 449.8 3.8 2.0 14.32 14.32 FW6A Zone N127-7053 459.3 462.7 3.4 - 3.18 3.18 - N127-7055 237.7 241.1 3.4 2.0 4.62 4.62 A Zone Hole No. From (m) To (m) Core Length (m) Estimated True Width (m) Grade(g/t Au) Cut Grade(90 g/t Au) Target VC Zone N109-7017 192.0 198.0 6.0 - 4.94 4.94 - Figures in table may not add due to rounding Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N033-6933 176.0 177.0 1.0 1.30 6.00 Wish Zone N033-6933 177.0 178.0 1.0 1.35 7.34 Wish Zone N033-6933 178.0 179.0 1.0 1.37 0.04 Wish Zone N033-6933 179.0 179.7 0.7 1.12 0.01 Wish Zone N033-6935 231.1 232.1 1.0 0.15 0.15 - N033-6935 232.1 233.0 0.9 17.55 17.55 - N033-6935 233.0 234.0 1.0 0.04 0.04 - N033-6937 77.6 78.6 1.0 0.19 0.19 - N033-6937 78.6 79.6 1.0 26.50 26.50 - N033-6937 79.6 80.6 1.0 0.06 0.06 - N033-6937 134.5 135.5 1.0 0.01 0.01 Wish Zone N033-6937 135.5 136.5 1.0 31.70 31.70 Wish Zone N033-6937 136.5 137.5 1.0 0.82 0.82 Wish Zone N033-6937 137.5 138.5 1.0 0.03 0.03 Wish Zone N033-6937 162.5 163.0 0.5 0.65 0.65 Wish Zone N033-6937 163.0 164.0 1.0 0.55 0.55 Wish Zone N033-6937 164.0 165.0 1.0 1.85 1.85 Wish Zone N033-6937 165.0 166.2 1.2 12.95 12.95 Wish Zone N033-6961* 121.0 122.0 1.0 0.82 0.82 Wish Zone N033-6961* 122.0 123.0 1.0 0.07 0.07 Wish Zone N033-6961* 123.0 124.0 1.0 0.01 0.01 Wish Zone N033-6961* 124.0 125.0 1.0 15.50 15.50 Wish Zone N033-6962* 71.3 71.85 0.55 0.07 0.07 Wish Zone N033-6962* 71.85 72.55 0.7 12.65 12.65 Wish Zone N033-6962* 72.55 73.1 0.55 1.3 1.3 Wish Zone N033-6962* 73.1 73.6 0.5 6.62 6.62 Wish Zone N033-6962* 73.6 74.1 0.5 1.45 1.45 Wish Zone N033-6962* 74.1 74.6 0.5 0.01 0.01 Wish Zone N033-6963* 98.3 99.3 1 5.12 5.12 Wish Zone N033-6963* 99.3 100.3 1 4.66 4.66 Wish Zone N033-6963* 100.3 101.3 1 1.88 1.88 Wish Zone N033-6963* 101.3 102.3 1 1.73 1.73 Wish Zone N033-6965* 47.7 48.2 0.5 2.98 2.98 Wish ZoneHole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N033-6965* 48.2 48.7 0.5 20.50 20.50 Wish Zone N033-6965* 48.7 49.6 0.9 0.03 0.03 Wish Zone N033-6965* 49.6 50.5 0.9 0.26 0.26 Wish Zone N033-6965* 50.5 51.1 0.5 0.11 0.11 Wish Zone N033-6971 63.3 64.8 1.5 8.62 8.62 Wish Zone N033-6971 64.8 65.8 1.0 0.05 0.05 Wish Zone N033-6971 65.8 66.8 1.0 4.37 4.37 Wish Zone N033-6971 66.8 67.7 1.0 8.70 8.70 Wish Zone N033-6971 67.7 68.2 0.5 6.54 6.54 Wish Zone N033-6976 133.8 134.8 1.0 2.48 2.48 - N033-6976 134.8 135.8 1.0 4.41 4.41 - N033-6976 135.8 136.8 1.0 5.11 5.11 - N033-6976 136.8 137.5 0.7 1.88 1.88 - N033-6998 294.4 295.3 0.9 22.50 22.50 - N033-6998 295.3 296.2 0.9 27.80 27.80 - N033-6998 296.2 297.7 1.5 0.20 0.20 - N033-6998 458.3 458.9 0.6 0.76 0.76 - N033-6998 458.9 459.6 0.7 0.19 0.19 - N033-6998 459.6 460.3 0.7 3.84 3.84 - N033-6998 460.3 461.0 0.7 0.04 0.04 - N033-6998 461.0 461.8 0.8 32.90 32.90 - N033-7003 21 22.2 1.2 0.92 0.92 - N033-7003 22.2 23.2 1 48.6 48.6 - N033-7003 23.2 24.5 1.3 0.02 0.02 - N033-7081 79.0 80.0 1.0 2.55 2.55 - N033-7081 80.0 80.5 0.5 3.97 3.97 - N033-7081 80.5 81.0 0.5 26.90 26.90 - N033-7081 81.0 81.6 0.6 9.89 9.89 - N033-7081 81.6 82.1 0.5 73.50 73.50 - N109-7017 192.0 193.0 1.0 6.61 6.61 - N109-7017 193.0 194.0 1.0 2.73 2.73 - N109-7017 194.0 195.0 1.0 3.55 3.55 - N109-7017 195.0 196.0 1.0 4.88 4.88 - N109-7017 196.0 197.0 1.0 5.18 5.18 - N109-7017 197.0 198.0 1.0 6.71 6.71 - N125-7037 157.0 158.0 1.0 4.02 4.02 - N125-7037 158.0 159.0 1.0 8.87 8.87 - N125-7037 159.0 160.0 1.0 0.48 0.48 - N125-7037 160.0 161.0 1.0 1.01 1.01 - N125-7037 161.0 162.0 1.0 2.94 2.94 - N125-7037 162.0 163.0 1.0 7.31 7.31 - N125-7037 163.0 164.0 1.0 0.55 0.55 -Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N125-7037 164.0 165.0 1.0 2.41 2.41 - N125-7037 165.0 166.0 1.0 2.91 2.91 - N125-7037 166.0 167.0 1.0 9.51 9.51 - N125-7037 167.0 168.0 1.0 4.68 4.68 - N125-7037 168.0 169.0 1.0 6.46 6.46 - N125-7037 185.0 186.0 1.0 7.34 7.34 - N125-7037 186.0 187.0 1.0 4.92 4.92 - N125-7037 187.0 188.0 1.0 7.65 7.65 - N125-7037 188.0 189.0 1.0 3.68 3.68 - N125-7037 189.0 190.0 1.0 6.32 6.32 - N125-7039 138.0 139.0 1.0 137.00 90.00 - N125-7039 139.0 140.0 1.0 0.08 0.08 - N125-7039 140.0 141.5 1.5 0.01 0.01 - N125-7041 127.4 128.2 0.8 1.38 1.38 - N125-7041 128.2 128.7 0.5 44.40 44.40 - N125-7041 128.7 129.4 0.7 1.13 1.13 - N125-7041 129.4 130.5 1.1 2.54 2.54 - N125-7041 130.5 131.1 0.6 1.08 1.08 - N125-7041 163.0 164.0 1.0 8.11 8.11 - N125-7041 164.0 165.0 1.0 0.56 0.56 - N125-7041 165.0 166.0 1.0 0.85 0.85 - N125-7041 166.0 167.0 1.0 2.00 2.00 - N125-7041 167.0 168.0 1.0 3.34 3.34 - N125-7041 168.0 169.0 1.0 5.38 5.38 - N125-7041 169.0 170.0 1.0 3.09 3.09 - N125-7041 170.0 171.0 1.0 5.72 5.72 - N125-7041 171.0 172.0 1.0 3.01 3.01 - N125-7041 172.0 173.0 1.0 3.91 3.91 - N125-7041 188.0 189.0 1.0 4.33 4.33 - N125-7041 189.0 190.0 1.0 2.45 2.45 - N125-7041 190.0 191.0 1.0 3.53 3.53 - N125-7041 191.0 192.0 1.0 4.69 4.69 - N125-7041 192.0 193.0 1.0 6.18 6.18 - N125-7041 193.0 194.0 1.0 4.57 4.57 - N125-7071 235.0 236.0 1.0 1.81 1.81 - N125-7071 236.0 237.0 1.0 1.80 1.80 - N125-7071 237.0 238.0 1.0 2.58 2.58 - N125-7071 238.0 239.0 1.0 19.20 19.20 - N125-7071 239.0 240.3 1.3 3.23 3.23 - N125-7071 245.0 246.0 1.0 2.67 2.67 - N125-7071 246.0 247.0 1.0 5.22 5.22 -Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N125-7071 247.0 248.0 1.0 1.95 1.95 - N125-7071 292.0 293.1 1.1 0.87 0.87 - N125-7071 293.1 294.1 1.0 0.73 0.73 - N125-7071 294.1 295.1 1.0 2.39 2.39 - N125-7071 295.1 296.1 1.0 8.91 8.91 - N125-7072 136.5 137.5 1.0 0.29 0.29 - N125-7072 137.5 139.0 1.5 1.53 1.53 - N125-7072 139.0 140.5 1.5 7.38 7.38 - N125-7072 186.7 187.5 0.8 7.08 7.08 - N125-7072 187.5 188.3 0.8 0.05 0.05 - N125-7072 188.3 189.8 1.5 2.64 2.64 - N125-7073 120.0 121.0 1.0 1.16 1.16 - N125-7073 121.0 122.0 1.0 3.79 3.79 - N125-7073 122.0 123.0 1.0 2.89 2.89 - N125-7073 123.0 124.0 1.0 3.09 3.09 - N125-7073 124.0 125.0 1.0 4.74 4.74 - N125-7073 182.3 183.0 0.7 2.54 2.54 - N125-7073 183.0 184.0 1.0 4.74 4.74 - N125-7073 184.0 184.6 0.6 0.96 0.96 - N125-7073 184.6 185.5 0.9 1.81 1.81 - N125-7073 185.5 186.0 0.5 0.04 0.04 - N125-7073 186.0 186.5 0.5 0.84 0.84 - N125-7073 186.5 187.5 1.0 2.82 2.82 - N125-7073 187.5 188.5 1.0 5.55 5.55 - N125-7073 188.5 189.5 1.0 7.77 7.77 - N125-7073 189.5 190.5 1.0 1.46 1.46 - N125-7074 172.7 173.6 0.9 3.98 3.98 - N125-7074 173.6 174.1 0.5 3.84 3.84 - N125-7074 174.1 174.7 0.6 1.18 1.18 - N125-7074 174.7 176.0 1.3 3.61 3.61 - N125-7074 176.0 177.0 1.0 2.16 2.16 - N125-7074 177.0 177.5 0.5 0.16 0.16 - N125-7074 177.5 178.0 0.5 0.79 0.79 - N125-7074 178.0 178.5 0.5 5.68 5.68 - N125-7074 178.5 179.0 0.5 5.14 5.14 - N125-7074 179.0 180.0 1.0 7.20 7.20 - N125-7074 180.0 181.0 1.0 2.85 2.85 - N125-7074 181.0 181.5 0.5 1.35 1.35 - N125-7074 181.5 183.0 1.5 6.13 6.13 - N125-7074 187.7 188.4 0.7 3.41 3.41 - N125-7074 188.4 189.0 0.6 2.68 2.68 - N125-7074 189.0 190.0 1.0 3.37 3.37 -Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N125-7074 190.0 191.0 1.0 4.13 4.13 - N125-7074 191.0 192.0 1.0 4.86 4.86 - N125-7074 192.0 193.0 1.0 1.53 1.53 - N125-7074 193.0 194.0 1.0 5.85 5.85 - N125-7074 194.0 194.5 0.5 6.83 6.83 - N125-7074 257.0 258.1 1.1 3.36 3.36 - N125-7074 258.1 259.2 1.1 3.74 3.74 - N125-7074 259.2 260.3 1.1 2.46 2.46 - N127-6943 337.5 338.5 1.0 7.00 7.00 - N127-6943 338.5 339.5 1.0 4.51 4.51 - N127-6943 339.5 340.5 1.0 1.53 1.53 - N127-6943 340.5 341.5 1.0 8.00 8.00 - N127-6943 341.5 342.5 1.0 14.10 14.10 - N127-6943 342.5 343.5 1.0 169.50 90.00 - N127-6943 343.5 344.6 1.1 126.50 90.00 - N127-6943 344.6 345.7 1.1 9.16 9.16 - N127-6944 303.5 304.8 1.3 0.72 0.72 A Zone N127-6944 304.8 305.8 1.0 1.74 1.74 A Zone N127-6944 305.8 306.3 0.5 138.00 90.00 A Zone N127-6944 306.3 307.3 1.0 0.23 0.23 A Zone N127-6947 369.6 370.6 1.0 24.20 24.20 A Zone N127-6947 370.6 371.5 0.9 0.05 0.05 A Zone N127-6947 371.5 372.4 0.9 4.12 4.12 A Zone N127-6947 372.4 373.3 0.9 0.18 0.18 A Zone N127-6947 373.3 374.2 0.9 2.94 2.94 A Zone N127-6947 389.4 390.5 1.1 0.56 0.56 A1 Zone N127-6947 390.5 391.6 1.1 0.33 0.33 A1 Zone N127-6947 391.6 392.6 1.0 28.30 28.30 A1 Zone N127-6947 392.6 393.6 1.0 2.77 2.77 A1 Zone N127-6948 349.9 350.8 0.9 137.50 90.00 A Zone N127-6948 350.8 351.7 0.9 2.53 2.53 A Zone N127-6948 351.7 352.7 1.0 8.54 8.54 A Zone N127-6948 352.7 353.7 1.0 0.99 0.99 A Zone N127-6948 353.7 354.7 1.0 3.36 3.36 A Zone N127-6948 354.7 355.7 1.0 4.16 4.16 A Zone N127-6948 387.4 388.4 1.0 565.00 90.00 A1 Zone N127-6948 388.4 389.4 1.0 1460.00 90.00 A1 Zone N127-6948 389.4 390.2 0.8 9.78 9.78 A1 Zone N127-6948 390.2 391.0 0.8 52.10 52.10 A1 Zone N127-6948 391.0 391.7 0.7 2.13 2.13 A1 Zone N127-6949 357.4 358.2 0.8 2210.00 90.00 A1 Zone N127-6949 358.2 359.0 0.8 677.00 90.00 A1 ZoneHole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-6949 359.0 359.8 0.8 3.57 3.57 A1 Zone N127-6949 359.8 360.6 0.8 0.23 0.23 A1 Zone N127-6949 360.6 361.3 0.7 10.40 10.40 A1 Zone N127-6949 361.3 362.4 1.1 34.60 34.60 A1 Zone N127-6949 362.4 363.2 0.8 0.27 0.27 A1 Zone N127-6949 363.2 364.0 0.8 0.08 0.08 A1 Zone N127-6949 364.0 365.2 1.2 342.00 90.00 A1 Zone N127-6949 365.2 366.4 1.2 1515.00 90.00 A1 Zone N127-6949 366.4 367.4 1.0 71.30 71.30 A1 Zone N127-6949 367.4 368.2 0.8 0.46 0.46 A1 Zone N127-6949 368.2 369.0 0.8 0.58 0.58 A1 Zone N127-6949 369.0 369.7 0.7 40.60 40.60 A1 Zone N127-6949 369.7 370.7 1.0 200.00 90.00 A1 Zone N127-6949 370.7 371.5 0.8 131.50 90.00 A1 Zone N127-6949 371.5 372.5 1.0 5.07 5.07 A1 Zone N127-6949 379.3 380.3 1.0 0.62 0.62 A2 Zone N127-6949 380.3 381.1 0.8 12.20 12.20 A2 Zone N127-6949 381.1 381.9 0.8 345.00 90.00 A2 Zone N127-6949 381.9 382.7 0.8 24.00 24.00 A2 Zone N127-6949 382.7 384.0 1.3 0.40 0.40 A2 Zone N127-6950 343.3 344.1 0.8 0.02 0.02 A Zone N127-6950 344.1 345.0 0.9 0.04 0.04 A Zone N127-6950 345.0 345.5 0.5 46.10 46.10 A Zone N127-6950 345.5 346.5 1.0 0.11 0.11 A Zone N127-6950 346.5 347.5 1.0 0.17 0.17 A Zone N127-6950 368.8 369.8 1.0 3.36 3.36 A1 Zone N127-6950 369.8 370.8 1.0 5.18 5.18 A1 Zone N127-6950 370.8 371.8 1.0 1.07 1.07 A1 Zone N127-6950 371.8 372.6 0.8 14.65 14.65 A1 Zone N127-6950 372.6 373.4 0.8 619.00 90.00 A1 Zone N127-6950 373.4 374.1 0.7 256.00 90.00 A1 Zone N127-6950 374.1 374.8 0.7 3.26 3.26 A1 Zone N127-6950 374.8 375.6 0.8 0.54 0.54 A1 Zone N127-6950 375.6 376.4 0.8 106.00 90.00 A1 Zone N127-6950 376.4 377.2 0.8 391.00 90.00 A1 Zone N127-6950 377.2 378.0 0.8 2.74 2.74 A1 Zone N127-6951 314.7 315.7 1.0 5.74 5.74 - N127-6951 315.7 316.7 1.0 3.04 3.04 - N127-6951 316.7 317.6 0.9 1.12 1.12 - N127-6951 317.6 318.3 0.7 1.72 1.72 - N127-6951 318.3 319.3 1.0 3.45 3.45 - N127-6951 319.3 320.3 1.0 4.86 4.86 -Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-6951 320.3 321.3 1.0 29.60 29.60 - N127-6951 321.3 322.3 1.0 22.50 22.50 - N127-6951 322.3 322.8 0.5 12.05 12.05 - N127-6951 322.8 323.6 0.8 6.86 6.86 - N127-6951 323.6 324.7 1.1 8.31 8.31 - N127-6951 324.7 325.8 1.1 3.11 3.11 - N127-6951 368.0 368.7 0.7 1.19 1.19 BZA1 Zone N127-6951 368.7 369.7 1.0 5.99 5.99 BZA1 Zone N127-6951 369.7 370.7 1.0 5.37 5.37 BZA1 Zone N127-6951 370.7 371.7 1.0 1.89 1.89 BZA1 Zone N127-6951 431.7 432.7 1.0 1.27 1.27 A2 Zone N127-6951 432.7 433.7 1.0 40.50 40.50 A2 Zone N127-6951 433.7 434.7 1.0 50.40 50.40 A2 Zone N127-6951 434.7 435.7 1.0 93.30 90.00 A2 Zone N127-6951 435.7 436.4 0.7 2.45 2.45 A2 Zone N127-6951 445.2 446.2 1.0 13.60 13.60 Footwall N127-6951 446.2 446.7 0.5 0.62 0.62 Footwall N127-6951 446.7 448.0 1.3 1.29 1.29 Footwall N127-6951 448.0 449.0 1.0 0.11 0.11 Footwall N127-6953 314.7 315.7 1.0 7.13 7.13 A1 Zone N127-6953 315.7 316.7 1.0 0.98 0.98 A1 Zone N127-6953 316.7 317.7 1.0 6.32 6.32 A1 Zone N127-6953 317.7 318.7 1.0 6.60 6.60 A1 Zone N127-6953 318.7 319.7 1.0 0.49 0.49 A1 Zone N127-6953 319.7 320.3 0.6 0.62 0.62 A1 Zone N127-6953 320.3 321.3 1.0 243.00 90.00 A1 Zone N127-6953 321.3 322.2 0.9 38.80 38.80 A1 Zone N127-6953 322.2 323.2 1.0 3.73 3.73 A1 Zone N127-6953 323.2 324.2 1.0 0.82 0.82 A1 Zone N127-6953 324.2 325.2 1.0 0.05 0.05 A1 Zone N127-6953 325.2 326.0 0.8 0.49 0.49 A1 Zone N127-6953 326.0 327.0 1.0 52.80 52.80 A1 Zone N127-6954A 421.5 422.6 1.1 14.55 14.55 A Zone N127-6954A 422.6 423.4 0.8 29.00 29.00 A Zone N127-6954A 423.4 424.2 0.8 181.50 90.00 A Zone N127-6954A 424.2 425.1 0.9 36.50 36.50 A Zone N127-6954A 425.1 426.1 1.0 0.14 0.14 A Zone N127-6954A 426.1 427.1 1.0 4.26 4.26 A Zone N127-6954A 427.1 428.0 0.9 0.77 0.77 A Zone N127-6954A 428.0 429.0 1.0 4.10 4.10 A Zone N127-6954A 449.9 450.6 0.7 3.55 3.55 A1 Zone N127-6954A 450.6 451.3 0.7 38.40 38.40 A1 ZoneHole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-6954A 451.3 451.9 0.6 0.58 0.58 A1 Zone N127-6954A 451.9 452.4 0.5 0.19 0.19 A1 Zone N127-6954A 452.4 453.1 0.7 18.25 18.25 A1 Zone N127-6954A 453.1 453.8 0.7 119.00 90.00 A1 Zone N127-6954A 453.8 454.5 0.7 98.80 90.00 A1 Zone N127-6954A 454.5 455.0 0.5 0.81 0.81 A1 Zone N127-6954A 455.0 455.6 0.6 0.84 0.84 A1 Zone N127-6954A 455.6 456.1 0.5 38.30 38.30 A1 Zone N127-6954A 456.1 456.7 0.6 14.35 14.35 A1 Zone N127-6954A 456.7 457.5 0.8 178.00 90.00 A1 Zone N127-6954A 457.5 458.4 0.9 17.95 17.95 A1 Zone N127-6954A 458.4 459.3 0.9 7.69 7.69 A1 Zone N127-6954A 459.3 460.2 0.9 13.70 13.70 A1 Zone N127-6954A 460.2 461.1 0.9 55.80 55.80 A1 Zone N127-6954A 461.1 462.0 0.9 78.70 78.70 A1 Zone N127-6954A 462.0 462.9 0.9 115.00 90.00 A1 Zone N127-6954A 462.9 463.8 0.9 16.25 16.25 A1 Zone N127-6954A 463.8 464.3 0.5 1.24 1.24 A1 Zone N127-6954A 464.3 465.0 0.7 1.39 1.39 A1 Zone N127-6954A 465.0 465.7 0.7 0.25 0.25 A1 Zone N127-6954A 465.7 466.5 0.8 0.21 0.21 A1 Zone N127-6954A 466.5 467.3 0.8 2.41 2.41 A1 Zone N127-6954A 467.3 468.3 1.0 0.35 0.35 A1 Zone N127-6954A 468.3 469.2 0.9 132.50 90.00 A1 Zone N127-6954A 469.2 470.1 0.9 314.00 90.00 A1 Zone N127-6954A 470.1 471.0 0.9 8.63 8.63 A1 Zone N127-6955 139.1 140.1 1.0 0.36 0.36 A1 Zone N127-6955 140.1 141.0 0.9 50.10 50.10 A1 Zone N127-6955 141.0 142.0 1.0 48.20 48.20 A1 Zone N127-6955 142.0 143.0 1.0 0.05 0.05 A1 Zone N127-6957 106.8 107.8 1.0 0.17 0.17 A Zone N127-6957 107.8 108.3 0.5 0.21 0.21 A Zone N127-6957 108.3 108.8 0.5 41.60 41.60 A Zone N127-6957 108.8 109.8 1.0 0.85 0.85 A Zone N127-6957 109.8 110.8 1.0 0.05 0.05 A Zone N127-6988 79.9 80.9 1 9.59 9.59 A Zone N127-6988 80.9 81.9 1 0.03 0.03 A Zone N127-6988 81.9 82.9 1 0.04 0.04 A Zone N127-6988 82.9 83.8 0.9 0.14 0.14 A Zone N127-7008 53.3 54.6 1.3 0.01 0.01 - N127-7008 54.6 56.1 1.5 21.70 21.70 - N127-7008 56.1 57.6 1.5 0.03 0.03 -Hole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-7010 31 32.3 1.3 0.08 0.08 - N127-7010 32.3 33.5 1.2 1.56 1.56 - N127-7010 33.5 34.5 1 35.6 35.6 - N127-7033 21.3 21.9 0.6 144.50 90.00 A2 Zone N127-7033 22.7 23.3 0.6 0.19 0.19 A2 Zone N127-7033 23.3 23.8 0.6 0.23 0.23 A2 Zone N127-7033 23.8 24.8 1.0 0.06 0.06 A2 Zone N127-7035 76.6 77.6 1.0 6810.00 90.00 - N127-7035 77.6 78.5 0.9 0.10 0.10 - N127-7035 78.5 79.5 1.0 4.55 4.55 - N127-7035 105.0 106.0 1.0 0.65 0.65 A1 Zone N127-7035 106.0 106.9 0.9 353.00 90.00 A1 Zone N127-7035 106.9 107.8 0.9 1.42 1.42 A1 Zone N127-7035 107.8 108.6 0.8 0.88 0.88 A1 Zone N127-7035 113.3 114.8 1.5 16.55 16.55 A2 Zone N127-7035 114.8 115.8 1.0 0.84 0.84 A2 Zone N127-7035 115.8 116.8 1.0 5.65 5.65 A2 Zone N127-7035 125.2 126.6 1.4 70.30 70.30 - N127-7035 126.6 128.1 1.5 9.30 9.30 - N127-7035 128.1 129.3 1.2 5.60 5.60 - N127-7035 136.8 137.8 1.0 0.44 0.44 - N127-7035 137.8 138.9 1.1 0.81 0.81 - N127-7035 138.9 140.0 1.1 35.30 35.30 - N127-7042 110.5 111.0 0.5 1.61 1.61 A Zone N127-7042 111.0 111.6 0.6 18.90 18.90 A Zone N127-7042 111.6 112.3 0.7 145.50 90.00 A Zone N127-7042 112.3 113.1 0.8 0.61 0.61 A Zone N127-7042 113.1 113.8 0.7 4.48 4.48 A Zone N127-7042 113.8 114.5 0.7 1.16 1.16 A Zone N127-7042 129.2 129.8 0.6 3.52 3.52 A Zone N127-7042 129.8 130.7 0.9 6.87 6.87 A1 Zone N127-7042 130.7 131.6 0.9 0.40 0.40 A1 Zone N127-7042 131.6 132.4 0.8 0.69 0.69 A1 Zone N127-7042 132.4 132.9 0.5 190.00 90.00 A1 Zone N127-7044 134.5 135.0 0.5 56.60 56.60 A Zone N127-7044 135.0 136.5 1.5 0.12 0.12 A Zone N127-7044 136.5 137.2 0.7 0.57 0.57 A Zone N127-7044 137.2 137.7 0.5 1.48 1.48 A Zone N127-7044 140.0 140.5 0.5 6.63 6.63 A1 Zone N127-7044 140.5 141.0 0.5 0.95 0.95 A1 Zone N127-7044 141.0 141.5 0.5 8.41 8.41 A1 Zone N127-7044 141.5 142.0 0.5 6.85 6.85 A1 ZoneHole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-7044 142.0 143.0 1.0 2.50 2.50 A1 Zone N127-7044 143.0 144.1 1.1 14.70 14.70 A1 Zone N127-7044 144.1 145.1 1.0 0.53 0.53 A1 Zone N127-7044 145.1 145.6 0.5 36.30 36.30 A1 Zone N127-7044 145.6 146.1 0.5 46.60 46.60 A1 Zone N127-7044 146.1 146.6 0.5 22.30 22.30 A1 Zone N127-7044 153.0 154.5 1.5 2.10 2.10 - N127-7044 154.5 155.6 1.1 0.12 0.12 - N127-7044 155.6 156.2 0.6 50.20 50.20 - N127-7053 332.8 334.3 1.5 2.96 2.96 A Zone N127-7053 334.3 335.8 1.5 2.84 2.84 A Zone N127-7053 335.8 337.3 1.5 2.76 2.76 A Zone N127-7053 337.3 338.8 1.5 11.35 11.35 A Zone N127-7053 338.8 340.3 1.5 1.44 1.44 A Zone N127-7053 421.2 421.9 0.7 0.42 0.42 BFW_4 Zone N127-7053 421.9 422.8 0.9 101.00 90.00 BFW_4 Zone N127-7053 422.8 423.7 0.9 0.46 0.46 BFW_4 Zone N127-7053 423.7 425.0 1.3 91.40 90.00 BFW_4 Zone N127-7053 446.0 446.7 0.7 36.80 36.80 FW6A Zone N127-7053 446.7 447.4 0.7 75.90 75.90 FW6A Zone N127-7053 447.4 448.0 0.6 2.52 2.52 FW6A Zone N127-7053 448.0 449.0 1.0 1.20 1.20 FW6A Zone N127-7053 449.0 449.8 0.8 2.94 2.94 FW6A Zone N127-7053 459.3 460.2 0.9 1.09 1.09 - N127-7053 460.2 461.7 1.5 3.72 3.72 - N127-7053 461.7 462.7 1.0 4.24 4.24 - N127-7055 237.7 238.4 0.7 10.60 10.60 A Zone N127-7055 238.4 239.0 0.6 7.17 7.17 A Zone N127-7055 239.0 240.0 1.0 0.11 0.11 A Zone N127-7055 240.0 240.5 0.5 0.87 0.87 A Zone N127-7055 240.5 241.1 0.6 5.43 5.43 A Zone N127-7065 115.7 116.2 0.5 28.30 28.30 - N127-7065 116.2 117.2 1.0 0.11 0.11 - N127-7065 117.2 118.0 0.8 0.05 0.05 - N127-7065 118.0 119.0 1.0 0.06 0.06 - N127-7065 124.2 125.6 1.4 0.93 0.93 A Zone N127-7065 125.6 126.7 1.1 101.50 90.00 A Zone N127-7065 126.7 127.7 1.0 0.27 0.27 A Zone N127-7065 127.7 128.7 1.0 1.11 1.11 A Zone N127-7065 161.1 162 0.9 49.9 49.9 A1 Zone N127-7065 162 162.7 0.7 0.21 0.21 A1 Zone N127-7065 162.7 163.6 0.9 1.32 1.32 A1 ZoneHole No. From (m) To (m) Core Length (m) Grade (g/t Au) Cut Grade (90 g/t Au) Target N127-7065 163.6 164.1 0.5 2.61 2.61 A1 Zone N127-7065 164.1 165 0.9 0.58 0.58 A1 Zone N127-7066 146.3 147.3 1.0 13.05 13.05 A Zone N127-7066 147.3 148.1 0.8 27.10 27.10 A Zone N127-7066 148.1 149.2 1.1 0.11 0.11 A Zone N127-7066 149.2 150.2 1.0 1.03 1.03 A Zone N127-7066 150.2 151.2 1.0 13.80 13.80 A Zone *Denotes inclusion in December 31, 2024 mineral resource. Figures accompanying this announcement are available at: PDF available: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Wesdome Reports Voting Results of Annual General Meeting of Shareholders
TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) ('Wesdome' or the 'Company') today announces the results of its 2025 annual general meeting of shareholders (the 'Meeting') held earlier today. A replay of the Meeting is available on the Company's website. A total of 96,142,077 common shares were represented at the Meeting, representing 63.99% of the total issued and outstanding common shares of the Company. All matters presented for shareholder approval at the Meeting were approved, as follows: Election of the directors of the Company until the next annual meeting of shareholders; Appointment of Ernst & Young LLP as auditor of the Company and authorizing the directors to fix their remuneration; and Approval of an advisory non-binding resolution accepting the approach to executive compensation disclosed in the Company's Management Information Circular dated April 16, 2025. Election of Directors The following eight individuals were elected as directors of the Company until the next annual meeting of shareholders: Name of Nominee Votes For % For Votes Withheld / Abstain % Withheld / Abstain Anthea Bath 81,105,296 99.82 144,742 0.18 Edward Dowling 78,420,001 96.52 2,830,037 3.48 Louise Grondin 80,781,276 99.42 468,762 0.58 Jacqueline Ricci 79,794,650 98.21 1,455,388 1.79 Brian Skanderbeg 79,567,138 97.93 1,682,900 2.07 Edie Thome 79,505,421 97.85 1,744,617 2.15 Bill Washington 79,118,462 97.38 2,131,576 2.62 Philip Yee 81,180,828 99.91 69,210 0.09 Appointment of Auditor Based on proxies received and votes cast during the Meeting, Ernst & Young LLP, Chartered Accountants, were appointed as independent auditor of the Company until the next annual meeting of shareholders and the directors are authorized to fix their remuneration: VotesFor %For VotesWithheld / Abstain %Withheld / Abstain Appointment of Auditor 94,790,443 98.59 1,351,634 1.41 Advisory Vote on Executive Compensation Based on proxies received and votes cast by ballot during the Meeting, the advisory non-binding resolution accepting the approach to executive compensation disclosed in the Company's Management Information Circular dated April 16, 2025 was approved as follows: Votes For % For Votes Against % Against Advisory Vote on Executive Compensation 78,717,274 96.88 2,532,764 3.12 The Report of Voting Results has been filed under the Company's profile on SEDAR+ at 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 growing value-driven Canadian gold producer. Raj Gill Trish Moran SVP, Corporate Development & Investor Relations VP, Investor Relations Phone: +1.416.360.3743 Phone: +1.416.564.4290 E-Mail: invest@ E-mail: PDF available:
Yahoo
13-05-2025
- Business
- Yahoo
Wesdome Reports First Quarter 2025 Financial Results
TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) ('Wesdome' or the 'Company') today announced its financial results for the three months ended March 31, 2025 ('Q1 2025'). Preliminary operating results for Q1 2025 were disclosed in the Company's press release dated April 10, 2025. Management will host a conference call tomorrow, May 14, 2025 at 10:00 a.m. ET to discuss its results. All amounts are expressed in Canadian dollars unless otherwise indicated. Highlights Strong quarterly gold production and lower costs: Consolidated gold production was 45,692 ounces, a 37% increase compared to Q1 2024. Cost of sales per ounce sold decreased by 18% to US$923, while all-in sustaining costs ('AISC') per ounce sold1 declined 17% to US$1,366. The average realized price of gold sold in Q1 2025 was US$2,882 per ounce. Expanding margins: Gross profit increased by 365% year-over-year to $103.4 million and cash margin1 grew by 174% to $127.6 million. Record quarterly net income: Net income increased to $62.5 million, or $0.42 earnings per share, a nearly fivefold increase from Q1 2024. Record quarterly EBITDA: EBITDA1 increased by 193% to $119.4 million or tripled relative to the prior year quarter mainly due to an increase in ounces sold and a higher average realized price of gold sold. Record net cash from operating activities and free cash flow1: In Q1 2025, net cash from operating activities was $80.2 million, or $0.53 per share3, while free cash flow1 was $47.5 million, or $0.32 per share. Increasing liquidity: As at March 31, 2025, liquidity stood at $317.9 million, including $167.9 million in cash and $150.0 million of undrawn full capacity available under its revolving credit facility, up from $273.1 million as at December 31, 2024. Announced value-driven acquisition of Angus Gold in April: The strategic addition of Angus Gold, which is expected to close by the end of June, will quadruple Eagle River's land package. This is a highly logical and strategic tuck-in transaction that brings together a contiguous land package between the Eagle River mine and mill, enhancing the Company's ability to unlock value through the drill bit. Anthea Bath, President and Chief Executive Officer, commented: 'The first quarter marked a strong start to the year with record revenue, net income and free cash flow, demonstrating the quality of our operating platform. As an unhedged producer, we are fully capturing the upside from higher gold prices, which has accelerated our cash generation and strengthened our debt-free balance sheet. We remain on track to meet full-year guidance, with higher production expected in the second half of the year. 'Eagle River delivered another strong quarter, benefiting from high-grade material from the 300 Zone and a drawdown of stockpiles. Results reflect greater operational execution and the successful implementation of 2024 initiatives that focused on increasing drilled and developed ore inventory, reducing dilution and cost discipline. The QA/QC phase of the global resource model initiative is progressing well in support of a 2026 technical report. 'Production at Kiena nearly doubled over the first quarter of 2024, supported by a full quarter of ore contribution from the high-grade Kiena Deep Zone, where initial stoping began in April 2024 and mining activities have ramped up steadily. Reconciliation continues to trend well to block model grades. First ore from the Presqu'île Zone is on track for Q2 and the 136-level horizon is targeting completion in early Q3 – both key to reducing grade variability and improving operational flexibility over the medium-term. 'A key pillar of Wesdome's long-term value creation strategy continues to be exploration, focusing on extending mine life, unlocking near-mine growth and identifying new regional opportunities on our underexplored land packages. Building on our history of discovery and strong conversion rates, we are adopting a long-term, more integrated and focused approach to target generation and ranking, prioritizing high-impact zones while improving drilling efficiency through enhanced planning, contracting and execution.' Consolidated Financial and Operating Highlights In 000s, except per unit and per share amounts Q1 2025 Q1 2024 % Change Financial results Revenue2 187,618 100,922 86% Cost of sales 60,024 54,298 11% Gross profit 103,374 22,243 365% Cash margin1 127,594 46,624 174% EBITDA1 119,359 40,675 193% Net income 62,473 10,708 483% Earnings per share 0.42 0.07 480% Adjusted net income1 62,473 10,708 483% Adjusted net income per share1 0.42 0.07 480% Net cash from operating activities 80,156 46,502 72% Operating cash flow per share3 0.53 0.31 71% Net cash from (used in) financing activities 1,346 (10,169) 113% Net cash used in investing activities (36,665) (29,452) (24%) Free cash flow1 47,505 19,448 144% Free cash flow per share1 0.32 0.13 143% Average 1 USD → CAD exchange rate 1.4350 1.3488 6% Operating results Gold produced (ounces) 45,692 33,322 37% Gold sold (ounces) 45,300 35,700 27% Per ounce of gold sold1 Cost of sales4 ($/oz) 1,325 1,521 (13%) Cost of sales4 (US$/oz) 923 1,128 (18%) Cash costs1 ($/oz) 1,320 1,517 (13%) Cash costs1 (US$/oz) 920 1,125 (18%) AISC1 ($/oz) 1,960 2,226 (12%) AISC1 (US$/oz) 1,366 1,650 (17%) Average realized price1 ($/oz) 4,136 2,823 47% Average realized price1 (US$/oz) 2,882 2,093 38% Financial position Cash 167,934 48,252 248% Working capital5 181,341 (1,033) n/a Total assets 816,587 636,190 28% Current liabilities 57,217 86,209 (34%) Total liabilities 179,986 194,546 (7%) Eagle River – Ontario Eagle River, which is located 50 kilometres due west of Wawa, Ontario, consists of an underground mine (producing since 1995) and a 1,200 tonne per day mineral processing facility. Eagle River Operating Results Q1 2025 Q1 2024 % Change Ore milled (tonnes) 60,010 51,632 16% Average head grade (g/t) 15.6 15.5 1% Average mill recoveries (%) 96.3 97.0 (1%) Gold production (oz) 28,999 24,899 16% Gold sold (oz) 27,700 27,360 1% Production costs per tonne milled1 ($) 595 526 13% Costs per ounce of gold sold ($/oz) Cash margin1 2,841 1,606 77% Cost of sales4 1,332 1,230 8% Cash costs1 1,327 1,227 8% All-in sustaining costs1 1,918 1,662 15% Costs per ounce of gold sold (US$/oz) Cash margin1 1,980 1,190 66% Cost of sales4 928 912 2% Cash costs1 925 910 2% All-in sustaining costs1 1,337 1,232 9%During Q1 2025, Eagle River produced 28,999 ounces of gold as compared to 24,899 ounces in Q1 2024 primarily due to a 16% increase in throughput due to stope sequencing and dilution control. As planned, during Q1 2025, 65% of tonnes produced were from two zones: 300 and 720F. Average head grade for Q1 2025 was in-line year-over-year at 15.6 g/t as high-grade ore from the 300 Zone was offset by processing lower grade stockpiles built up at the end of 2024. Mill throughput of 60,010 tonnes was 16% higher than the first quarter of 2024 as prior year initiatives to increase drilled and developed inventories started to deliver results. Daily throughput rose 18% year-over-year to 667 tonnes in Q1 2025 up from 567 tonnes in Q1 2024. Unit production costs of $595 per tonne increased by 13% over Q1 2024 due to higher labour and maintenance costs, partially offset by higher processed Q1 2025, Eagle River's revenue increased by 49% to $115.5 million from $77.5 million in Q1 2024 due to a higher average realized price of gold sold as the number of ounces was in-line year-over-year. Cost of sales in Q1 2025 was $36.9 million, an increase of 10% compared to the comparative period in 2024 primarily due to a $4.5 million increase in mine and mill operating costs driven by higher throughput and increased royalties due to more ounces produced, partially offset by a change in inventory levels of $2.2 million. Cash costs per ounce of gold sold were $1,327 (US$925) in Q1 2025 compared to $1,227 (US$910) in Q1 2024 due to an increase in costs of sales. In Q1 2025, AISC per ounce of gold sold increased by 15% to $1,918 (US$1,337) as compared to Q1 2024 due to 9% higher cash costs and 17% growth in sustaining capital Continues to Delineate 300 Zone and Expand 6 Central Zone Drilling in the 6 Central Zone confirmed the continuation of mineralization down-plunge, demonstrating similar thickness and grade. Located near existing infrastructure, the zone remains open at depth and continues to offer the opportunity to establish another new high-grade mining front at intermediate depths. The expansion of 6 Central underscores the strong potential for further discovery, reinforcing confidence in the long-term potential of the asset and its ability to support Eagle River's fill-the-mill organic growth strategy. Updated interpretation of the 300 Zone indicates the presence of a sub-parallel structure, now referred to as the 300 Fold Zone. Early assays show consistent thickness and tenor of mineralization, with down-plunge continuity remaining open. Notably, this mineralization dips at a more moderate angle than the steeply dipping main 300 Zone, a key observation that highlights the variability of the plunge of the shoots, giving opportunities for down-plunge continuation of domains. Surface Exploration As part of the ongoing surface exploration program, an induced polarization survey was completed late in 2024 that identified multiple anomalies closely associated with known deposits, indicating the potential for additional mineralization to the west of the diorite. These findings confirm the long-term potential at Eagle River and outlined several targets for further exploration. Drilling of the first anomaly commenced before the end 2024, and drilling continued in 2025 with five holes completed to date. The program intersected minor veins and mineralization, with two of the holes returning anomalous intercepts. These results are currently being interpreted and will be discussed further in the future. Eleven surface holes were drilled at Birch Vein as part of a phase one program, evaluating historic rock chip values associated with a splay of the northwest trending Eagle River Splay shear. Several holes intersected smoky quartz veins with strong biotite alteration up to 0.5 metre thickness. The zone is considered a high priority area due to the similar geological context to the Eagle River Mine (diorite with shearing either side), and further drilling and geochemical sampling is planned. Kiena – Quebec Kiena is a fully permitted, integrated mining and milling operation located on a 75 km² land package in the highly prospective Val-d'Or district of Quebec. The site features a 930-metre production shaft and a mill with a permitted capacity of 2,040 tonnes per day. Kiena Operating Results Q1 2025 Q1 2024 % Change Ore milled (tonnes) 48,690 45,344 7% Average head grade (g/t) 10.8 5.9 83% Average mill recoveries (%) 98.9 98.2 1% Gold production (oz) 16,693 8,423 98% Gold sold (oz) 17,600 8,340 111% Production costs per tonne milled1 ($) 489 466 5% Costs per ounce of gold sold ($/oz) Cash margin1 2,778 323 759% Cost of sales4 1,314 2,474 (47%) Cash costs1 1,308 2,470 (47%) All-in sustaining costs1 2,026 4,078 (50%) Costs per ounce of gold sold (US$/oz) Cash margin1 1,936 240 708% Cost of sales4 916 1,834 (50%) Cash costs1 912 1,831 (50%) All-in sustaining costs1 1,412 3,023 (53%)In Q1 2025, Kiena produced 16,693 ounces compared to 8,423 ounces in Q1 2024. The 98% increase in production is due to the inclusion of high-grade ore from Kiena Deep, which came into production in mid-April 2024. In Q1 2025, all of the processed ore was from the high-grade Kiena Deep Zone. While it was planned that Q1 would be the lowest production quarter of the year, there was also a delay in the sequencing of some key high-grade stoping and development areas due to lower than planned equipment availability, which is being addressed. Average head grade in the first quarter of 2025 increased by 83% to 10.8 g/t from 5.9 g/t in the comparative quarter of 2024 despite the inclusion of some low-grade material from a recovered stope in March. Average mill recoveries increased to 98.9% in Q1 2025 relative to 98.2% in the comparative quarter of 2024, mainly due to higher average grade. In Q1 2025, the mill processed 541 tonnes per day, up from 498 tonnes per day in the first quarter of 2024. Associated production costs per tonne increased by 5% to $489 over Q1 2024 due to higher mining and site administration at Kiena increased by 209% to $71.9 million from $23.3 million in Q1 2024, due to a 111% increase in ounces sold and a higher average realized price per ounce of gold sold. Cost of sales in Q1 2025 was $23.1 million, an increase of 12% over the comparative period in 2024 primarily due to a $3.3 million increase in mine operating costs, which was driven by 7% higher throughput and a 98% increase in ounces produced, partially offset by a $0.8 million change in inventory levels. Cash costs per ounce of gold sold in Q1 2025 were $1,308 (US$912), a decrease of 47% compared to $2,470 (US$1,831) in Q1 2024 primarily due to an increase in ounces sold. AISC per ounce of gold sold decreased by 50% in Q1 2025 to $2,026 (US$1,412) from $4,078 (US$3,023) in Q1 2024 primarily due to a 111% increase in ounces sold and decreased sustaining capital expenditures partially offset by an increase in aggregate mine operating Zone Drilling Now Accessible from 109-Level and 134-Level Drilling Expected in Mid-2025 Drilling of the VC Zone from the new 109-level exploration drift continued during the quarter. The VC Zone is a top priority for exploration in 2025 as it historically returned a high-grade intercept at the base of the mineralisation wireframe, open at depth, and demonstrates a mineralization style analogous to Kiena Deep. Drilling to date has not been successful due to ground conditions between the drilling bay and the VC Zone. Options are being reviewed to extend underground development to a more optimal location, which is expected to enable more effective drilling of both the VC Zone and nearby North Zone targets. Drilling at Kiena's second drill bay – the 134-level exploration drift – is scheduled to commence in late May. This represents a significant milestone as drill holes collared from the drift will cut the Kiena Deep and Footwall mineralization at a more optimal intersection angle, improving true width estimates and providing stronger geostatistical support for grade continuity and resource modeling. Infill and extension drilling from the 134-level platform will also facilitate targeting high-grade production replacement from 2027 onwards. Drilling from the 134-level drift is a top priority for H2 2025. Kiena Deep Continues to Deliver The ongoing exploration of the Kiena Deep Footwall zones from the 127-level ramp, along with continued testing of the Kiena Deep A Zones through infill drilling from the 127-level remuck, continues to confirm the continuity of the zone with promising results. Initial interpretations suggest that additional lenses may be delineated with further drilling. The drill information is being incorporated into an updated lithostructural model and an updated mineral resource, both of which will form the basis for the 2026 technical report. 33-Level Accessible for Drilling, Delineation of Presqu'île to Start Rehabilitation of the 33-level development to the east has allowed the establishment of more optimal drilling platforms for the testing of Dubuisson, Duchesne and other 33-level targets. Exploration drilling on level 33 in the first quarter targeted the lateral extensions and down-plunge continuation of the No.22 Shawkey Zone. Holes confirmed the continuity of the porphyry dyke associated to this zone with further drilling planned for 2025. At Presqu'île, ramp development continues to advance and access to the Presqu'île orebody is well established. Exploration and delineation drilling programs have been designed and surface drilling planned for Q2 2025. Underground delineation drilling commenced in early Q2 2025. In addition to delineation of the orebody ahead of mining, exploration drilling will test extensions of the orebody as it remains open mine production from the Presqu'île orebody is expected in Q2 2025, which will allow for stockpiling prior to processing in H2 2025. The bulk sample permit has been received and the mining permit is expected in the fourth quarter. Infrastructure long-lead items have also been secured with crusher installation planned for Q3 and main fan installation in 2026. Conference Call and Webcast Management will host a conference call and webcast to discuss the Company's first quarter 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: Wednesday, May 14, 2025 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: 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 The financial statements and management's discussion and analysis will be available on the Company's website at and on SEDAR+ the evening of Tuesday, May 13, 2025. 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 growing value-driven Canadian gold producer. Raj GillSVP, Corporate Development & Investor RelationsPhone: +1.416.360.3743E-Mail: invest@ Trish MoranVP, Investor RelationsPhone: +1.416.564.4290E-mail: Responsibility for Technical Information The technical and scientific information relating to exploration activities disclosed in this document was prepared under the supervision of and verified and reviewed by Guy Belleau, P. Eng, Chief Operating Officer of the Company, a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Forward-Looking Statements This news release contains 'forward-looking information' which involve a number of risks and uncertainties. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to: the Company's stronger expected production in the second half of 2025; the Company's position to deliver on its full-year guidance; the timing of the release of a Technical Report for Eagle River; the expected reduction in grade variability and improvement in operational flexibility at Kiena; the details, components and approaches as part of the Company's long-term value creation strategy; the exploration and drilling prospects and future discovery potential of the 6 Central Zone at Eagle River; the exploration and drilling prospects of the 300 Zone at Eagle River; the potential for additional mineralization to the west of the diorite at Eagle River; exploration and drilling prospects of the VC Zone at Kiena; options to extend underground development at the VC Zone and North Zone targets at Kiena; the expected commencement of drilling at Kiena's second drill bay; the drilling and exploration prospects of the Kiena Deep Footwall zones and the potential for additional lenses to be delineated; the planned drilling from the 33-level development at Kiena; the planned surface drilling of the Presqu'île orebody; the components and objectives of the exploration drilling of the Presqu'île orebody; the timing of the expected first mine production from the Presqu'île orebody; the expected timing of the issuance of mining permits for the Presqu'île orebody; and the expected timing of the crusher installation and main fan installation at Presqu'île. Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. 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-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. Non-IFRS Performance Measures Wesdome uses non-IFRS performance measures throughout this news release as it believes that these generally accepted industry performance measures provide a useful indication of the Company's operational performance. These non-IFRS performance measures do not have standardized meanings defined by IFRS and may not be comparable to information in other gold producers' reports and filings. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The non-IFRS performance measures include: Average realized price per ounce of gold sold Cash costs and cash costs per ounce of gold sold Production costs and production costs per tonne milled Cash margin and cash margin per ounce of gold sold Sustaining capital and growth capital AISC and AISC per ounce of gold sold Free cash flow and free cash flow per share Adjusted net income (loss) and adjusted net income (loss) per share EBITDAAverage realized price per ounce of gold sold is a non-IFRS measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS. Average realized price per ounce of gold sold is calculated by dividing gold revenue from the Company's mining operations for the relevant period by the ounces of gold sold. It may not be comparable to information in other gold producers' reports and filings. In 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Revenue per financial statements 187,618 182,611 146,852 127,799 100,922 102,221 69,696 84,555 Silver revenue from mining operations (243 ) (191 ) (153 ) (126 ) (134 ) (73 ) (77 ) (70 ) Gold revenue from mining operations (a) 187,375 182,420 146,699 127,673 100,788 102,148 69,619 84,485 Ounces of gold sold (b) 45,300 48,700 42,900 40,000 35,700 37,620 27,000 32,000 Average realized price per ounce of gold sold CAD (c) = (a) ÷ (b) 4,136 3,746 3,420 3,192 2,823 2,715 2,579 2,640 Average 1 USD → CAD exchange rate (d) 1.4350 1.3990 1.3637 1.3684 1.3488 1.3619 1.3414 1.3428 Average realized price per ounce of gold sold USD (c) ÷ (d) 2,882 2,678 2,508 2,333 2,093 1,994 1,923 1,966 Cash costs per ounce of gold sold is a non-IFRS performance measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS, as well it may not be comparable to information in other gold producers' reports and filings. The Company has included this non-IFRS performance measure throughout this document as it believes that this generally accepted industry performance measure provides a useful indication of the Company's operational performance. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's operating performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The following table provides a reconciliation of total cash costs per ounce of gold sold to cost of sales per the financial statements for each of the last eight quarters: 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Cost of sales per financial statements (a) 60,024 57,974 52,217 51,560 54,298 54,645 47,463 55,833 Silver revenue from mining operations (243 ) (191 ) (153 ) (126 ) (134 ) (73 ) (77 ) (70 ) Cash costs (b) 59,781 57,783 52,064 51,434 54,164 54,572 47,386 55,763 Ounces of gold sold (c) 45,300 48,700 42,900 40,000 35,700 37,620 27,000 32,000 Cost of sales per ounce of gold sold (d) = (a) ÷ (c) 1,325 1,190 1,217 1,289 1,521 1,453 1,758 1,745 Cash costs per ounce of gold sold (e) = (b) ÷ (c) 1,320 1,187 1,214 1,286 1,517 1,451 1,755 1,743 Average 1 USD → CAD exchange rate (f) 1.4350 1.3990 1.3637 1.3684 1.3488 1.3619 1.3414 1.3428 Cost of sales per ounce of gold sold USD (d) ÷ (f) 923 851 893 942 1,128 1,067 1,311 1,299 Cash costs per ounce of gold sold USD (e) ÷ (f) 920 848 890 940 1,125 1,065 1,308 1,298 Production costs per tonne milled is a non-IFRS performance measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS, and as well it may not be comparable to information in other gold producers' reports and filings. As illustrated in the table below, this measure is calculated by adjusting cost of sales, as shown in the statements of income for non-cash depletion and depreciation, royalties and inventory level changes and then dividing by tonnes processed through the mill. Management believes that production costs per tonne milled provides additional information regarding the performance of mining and milling operations and allows management to monitor operating costs on a more consistent basis as the per tonne milled measure reduces the cost variability associated with varying production levels. Management also uses this measure to determine the economic viability of mining blocks. As each mining block is evaluated based on the net realizable value of each tonne milled, the estimated revenue on a per tonne basis must be in excess of the production costs per tonne milled in order to be economically viable. Management is aware that this per tonne milled measure is impacted by fluctuations in throughput and thus uses this evaluation tool in conjunction with cost of sales prepared in accordance with IFRS. This measure supplements cost of sales information prepared in accordance with IFRS and allows investors to distinguish between changes in cost of sales resulting from changes in production versus changes in operating performance. In 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Cost of sales per financial statements (a) 60,024 57,974 52,217 51,560 54,298 54,645 47,463 55,833 Royalties (2,330 ) (1,927 ) (1,570 ) (1,200 ) (1,342 ) (1,266 ) (1,029 ) (1,172 ) Bullion & in-circuit inventory adjustments 1,837 (897 ) 2,819 3,471 (2,267 ) (3,908 ) 384 (2,526 ) Production costs (b) 59,531 55,150 53,466 53,831 50,689 49,471 46,818 52,135 Ore milled (tonnes) (c) 108,700 122,779 109,305 110,221 96,976 104,318 102,504 116,496 Cost of sales per tonne milled (a) ÷ (c) 552 472 478 468 560 524 463 479 Production costs per tonne milled (b) ÷ (c) 548 449 489 488 523 474 457 448 Cash margin is a non-IFRS measure and does not constitute a measure recognized by IFRS and does not have a standardized meaning defined by IFRS, and as well it may not be comparable to information in other gold producers' reports and filings. It is calculated as the difference between gold revenue from mining operations and cash mine site operating costs (see cash costs per ounce of gold sold section above) per the Company's financial statements. The Company believes cash margin illustrates the performance of the Company's operating mines and enables investors to better understand the Company's performance in comparison to other gold producers who present results on a similar basis. In 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Gold revenue from mining operations 187,375 182,420 146,699 127,673 100,788 102,148 69,619 84,485 Cash costs 59,781 57,783 52,064 51,434 54,164 54,572 47,386 55,763 Cash margin 127,594 124,637 94,635 76,239 46,624 47,576 22,233 28,722 Average realized price (a) 4,136 3,746 3,420 3,192 2,823 2,715 2,579 2,640 Cash costs (b) 1,320 1,187 1,214 1,286 1,517 1,451 1,755 1,743 Cash margin (a) – (b) 2,816 2,559 2,206 1,906 1,306 1,264 824 897 Sustaining capital expenditures are generally defined as expenditures that support the ongoing operation of the asset or business without any associated increase in capacity, life of assets or future earnings. This measure is being used by management to understand the ongoing capital cost required to maintain operations at current levels. Growth capital expenditures are generally defined as capital expenditures that expand existing capacity, increase life of assets and/or increase future earnings. This measure is used by management to understand the costs of developing new operations or major projects at existing operations where these projects will materially increase production from current levels. In 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Mining Properties, Plant and Equipment Capitalized exploration costs 1,794 1,707 1,255 1,722 1,929 1,137 1,279 1,434 Sustaining mine development costs 5,774 5,564 5,358 5,673 5,176 4,528 4,951 4,756 Mining equipment and infrastructure upgrades 5,034 9,195 4,292 3,549 1,734 6,779 10,360 1,598 Tailings management facility 125 3,651 4,027 190 184 342 15 12 12,727 20,117 14,932 11,134 9,023 12,786 16,605 7,800 Capitalized exploration costs 2,364 4,139 5,341 1,447 1,136 1,347 985 937 Sustaining mine development costs 4,993 1,974 1,463 6,650 7,702 3,177 2,468 1,897 Mining equipment and infrastructure upgrades 1,369 2,455 1,721 1,701 2,542 - - - Tailings management facility 575 - 220 21 71 - - - 9,301 8,568 8,745 9,819 11,451 4,524 3,453 2,834 Total sustaining capital 22,028 28,685 23,677 20,953 20,474 17,310 20,058 10,634 Mines under development, plant, and equipment Capitalized mine development costs 7,337 4,679 5,845 3,909 988 - - - Ramp development – Kiena Deep - 28 - 436 3,214 4,154 4,111 4,316 Mining equipment and infrastructure upgrades 2,950 2,520 - 2,594 1,469 7,132 7,485 2,898 Total growth capital 10,287 7,227 5,845 6,939 5,671 11,286 11,596 7,214 Total sustaining and growth capital 32,315 35,912 29,522 27,892 26,145 28,596 31,654 17,848 AISC includes mine site operating costs incurred at the Company's mining operations, sustaining mine capital and development expenditures, mine site exploration and evaluation expenditures and equipment lease payments related to the mine operations and corporate and general expenses. The Company believes that this measure represents the total cash costs of producing gold from current operations and provides the Company and other stakeholders with additional information that illustrates its operational performance and ability to generate cash flow. This cost measure seeks to reflect the total cost of gold production from current operations on a per ounce of gold sold basis. New project and growth capital are not included. In 000s, except per unit amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Cost of sales 60,024 57,974 52,217 51,560 54,298 54,645 47,463 55,833 Silver revenue from mining operations (243 ) (191 ) (153 ) (126 ) (134 ) (73 ) (77 ) (70 ) Cash costs 59,781 57,783 52,064 51,434 54,164 54,572 47,386 55,763 Sustaining mine exploration and development 14,925 13,384 13,419 15,492 15,942 10,190 9,683 9,024 Sustaining mine capital equipment 6,403 11,655 6,012 5,250 4,275 6,779 10,360 1,598 Tailings management facility 700 3,646 4,247 210 256 342 15 12 Corporate and general 6,717 6,504 6,346 5,972 3,969 5,955 4,707 4,007 Less: Corporate development (71 ) (76 ) (320 ) (14 ) (50 ) (276 ) (161 ) (210 ) Payment of lease liabilities 336 625 615 754 909 780 1,208 1,410 AISC (a) 88,791 93,521 82,383 79,098 79,465 78,342 73,198 71,604 Ounces of gold sold (b) 45,300 48,700 42,900 40,000 35,700 37,620 27,000 32,000 AISC per ounce of gold sold (c) = (a) ÷ (b) 1,960 1,920 1,920 1,977 2,226 2,082 2,711 2,238 Average 1 USD → CAD exchange rate (d) 1.4350 1.3990 1.3637 1.3684 1.3488 1.3619 1.3414 1.3428 AISC per ounce of gold sold USD (c) ÷ (d) 1,366 1,373 1,408 1,445 1,650 1,529 2,021 1,666 Free cash flow is a non-IFRS measure and is calculated by taking net cash provided by operating activities less cash used in capital expenditures and lease payments as reported in the Company's financial statements. Free cash flow is a useful indicator of the Company's ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow per share is calculated by dividing free cash flow by the weighted average number of shares outstanding for the period. In 000s, except per share amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Net cash from operating activities (a) 80,156 76,411 60,976 57,083 46,502 37,176 45,076 13,979 Sustaining mine exploration and development (14,925 ) (13,384 ) (13,419 ) (15,492 ) (15,942 ) (10,190 ) (9,683 ) (9,024 ) Sustaining mine capital equipment (6,403 ) (11,655 ) (6,012 ) (5,250 ) (4,275 ) (6,779 ) (10,360 ) (1,598 ) Tailings management facility (700 ) (3,646 ) (4,247 ) (210 ) (256 ) (342 ) (15 ) (12 ) Growth mine exploration and development (7,337 ) (4,707 ) (5,845 ) (4,344 ) (4,203 ) (4,154 ) (4,111 ) (4,316 ) Growth mine capital equipment (2,950 ) (2,520 ) - (2,596 ) (1,469 ) (7,132 ) (7,485 ) (2,898 ) Funds held against standby letters of credit - - - - - - (1,542 ) - Payment of lease liabilities (336 ) (625 ) (615 ) (754 ) (909 ) (780 ) (1,208 ) (1,410 ) Free cash flow (b) 47,505 39,874 30,838 28,437 19,448 7,799 10,672 (5,279 ) Weighted average number of shares (000s) (c) 149,906 149,878 149,729 149,548 149,068 148,965 148,952 148,001 Operating cash flow (a) ÷ (c) 0.53 0.51 0.41 0.38 0.31 0.25 0.30 0.09 Free cash flow (b) ÷ (c) 0.32 0.27 0.21 0.19 0.13 0.05 0.07 (0.04 ) Adjusted net income (loss) and adjusted net earnings (loss) per share are non-IFRS performance measures and do not constitute a measure recognized by IFRS and do not have standardized meanings defined by IFRS, and as well both measures may not be comparable to information in other gold producers' reports and filings. Adjusted net income (loss) is calculated by removing the one-time gains and losses resulting from the disposition of non-core assets, non-recurring expenses and significant tax adjustments (mining tax recognition and exploration credit refunds) not related to the current period's income, as detailed in the table below. The Company discloses this measure, which is based on its financial statements, to assist in the understanding of the Company's operating results and financial position. In 000s, except per share amounts Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Net income (loss) per financial statements 62,473 56,629 38,999 29,135 10,708 2,420 (3,248 ) (5,014 ) Adjustments for: Impairment of investment in associate - - - - - - 900 - Retirement costs - - 262 - - - - - Total adjustments - - 262 - - - 900 - Related income tax effect - - (66 ) - - - (225 ) - - - 197 - - - 675 - Adjusted net income (loss) (a) 62,473 56,629 39,196 29,135 10,708 2,420 (2,573 ) (5,014 ) Weighted average number of shares (000s) (b) 149,906 149,878 149,729 149,548 149,068 148,965 148,952 148,001 Adjusted net earnings (loss) per share (a) ÷ (b) 0.42 0.38 0.26 0.19 0.07 0.02 (0.02 ) (0.03 ) Earnings before interest, taxes and depreciation and amortization ('EBITDA') is a non-IFRS financial measure which excludes the following items from net income (loss): interest expense, mining and income tax expense (recovery) and depletion and depreciation. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors use EBITDA as an indicator of Wesdome's ability to generate liquidity from net cash from operating activities to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA is intended to provide additional information to investors and analysts and do not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. EBITDA excludes the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances and therefore are not necessarily indicative of operating profit or net cash from operating activities as determined under IFRS. Other producers may calculate EBITDA differently. The following table provides a reconciliation of net income in the Company's financial statements to EBITDA: In 000s Q12025 Q42024 Q32024 Q22024 Q12024 Q42023 Q32023 Q22023 Net income (loss) per financial statements 62,473 56,629 38,999 29,135 10,708 2,420 (3,248 ) (5,014 ) Adjustments for: Mining and income tax expense (recovery) 32,381 28,899 20,708 15,358 4,550 10,761 (9,820 ) (2,356 ) Depletion and depreciation 24,220 29,048 24,295 22,550 24,381 23,861 23,987 28,215 Non-recurring expenses - - 262 - - - 900 - Interest expense 285 292 336 820 1,036 1,214 1,114 1,175 EBITDA 119,359 114,868 84,600 67,863 40,675 38,256 12,933 22,020 Endnotes Refer to the section in this press release entitled 'Non-IFRS Performance Measures' for the reconciliation of non-IFRS measurements to the financial statements. Revenue includes insignificant amounts from the sale of by-product silver. Operating cash flow per share is calculated by dividing net cash from activities by the weighted average number of shares. Costs of sales per ounce of gold sold is calculated by dividing the cost of sales by the number of ounces sold. Working capital is the sum of current assets less current liabilities on the statements of financial in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
