Wesdome Announces Automatic Share Purchase Plan

Wesdome Gold Mines Ltd. (TSX: WDO,OTC:WDOFF) (OTCQX: WDOFF) ("Wesdome" or the "Company") announced today that it has entered into an automatic share purchase plan ("ASPP") with National Bank Financial Inc. ("NBF") in order to facilitate repurchases of Wesdome's common shares ("Common Shares") under its previously announced normal course issuer bid ("NCIB").

Wesdome previously announced that it had received approval from the Toronto Stock Exchange ("TSX") to purchase up to a maximum of 2% of the public float for cancellation over a period of 12 months. Wesdome had a total of 150,969,214 issued and outstanding Shares as of October 16, 2025.

In connection with the NCIB, Wesdome has entered into an ASPP with NBF to allow for the repurchase of Common Shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods.

The Company has received approval from the TSX, during the 12-month period commencing on November 7, 2025, and ending on or before November 6, 2026, to purchase Common Shares through the facilities of the TSX and alternative Canadian trading systems. Under the terms of the NCIB, the Company may purchase up to a daily maximum of 182,093 Common Shares (being equal to 25% of the average daily trading volume of 728,373 Common Shares on the TSX for the six-month period prior to October 16, 2025).

The ASPP 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. The ASPP constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and the agreement governing the plan has been pre-cleared by the TSX.

The actual number of Common Shares that may be purchased and the timing of such purchases will be determined by the Company in accordance with applicable laws and the ASPP. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any Common Shares that are purchased under the NCIB will be cancelled.

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.

Forward-Looking Statements

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the Company's normal course issuer bid, ASPP and other statements that are not historical facts. 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.

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 the 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+ (www.sedarplus.ca).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289952