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Wesdome Gold Mines Ltd. (TSX: WDO,OTC:WDOFF) (OTCQX: WDOFF) ("Wesdome" or the "Company") today announces its production results for the three and six months ended June 30, 2026 ("Q2 2026" and "YTD 2026"). The Company is also providing notice that it will release its Q2 2026 financial results after markets close on Thursday, August 13, 2026, and host a conference call and webcast the following morning.
Q2 and YTD 2026 Operating Highlights
| Q2 2026 | Q2 2025 | % Change | YTD 2026 | YTD 2025 | % Change | |
| Ore milled (tonnes) | ||||||
| Eagle River | 72,439 | 48,623 | 49% | 144,170 | 108,633 | 33% |
| Kiena | 62,515 | 50,299 | 24% | 117,165 | 98,989 | 18% |
| Average grade (grams per tonne) | ||||||
| Eagle River | 9.7 | 16.9 | (42%) | 11.1 | 16.2 | (31%) |
| Kiena | 11.1 | 10.7 | 4% | 10.6 | 10.8 | (2%) |
| Gold production (ounces) | ||||||
| Eagle River | 21,797 | 25,612 | (15%) | 49,644 | 54,611 | (9%) |
| Kiena | 22,026 | 17,169 | 28% | 39,483 | 33,862 | 17% |
| Total gold production | 43,823 | 42,781 | 2% | 89,126 | 88,473 | 1% |
| Production sold (ounces) | 44,100 | 45,900 | (4%) | 89,700 | 91,200 | (2%) |
Anthea Bath, President and CEO of Wesdome, commented, "Our second quarter results reflect the operational discipline and strategic execution that are central to Wesdome's approach to long-term value creation. With strong momentum across both Eagle River and Kiena, we remain well-positioned to deliver on our full-year production guidance of 180,000 to 205,000 ounces.
"Eagle River performed in line with our operational plan during the second quarter. As anticipated, Eagle River processed higher tonnage at lower grades during the quarter, largely reflecting planned stope sequencing. Grades are expected to improve in the second half of the year, and we remain confident in Eagle River's ability to achieve its full-year guidance.
"Kiena continues to build meaningful momentum, with quarter-over-quarter production increasing approximately 25%, as improved execution and planning translate into greater operating consistency. Later this week, the first Presqu'île stope is expected to enter production, marking a significant milestone in the expansion of our active mining base beyond Kiena Deep. Presqu'île is expected to broaden the number of productive zones and support the stronger production profile we anticipate in the second half of the year.
"Our capital allocation framework continues to generate tangible value for shareholders. Since launching our normal course issuer bid in late November, we have repurchased more than 4% of our outstanding shares. Combined with the announced expansion of our share buyback program and the initiation of a quarterly cash dividend in September, these actions underscore our confidence in the durability and quality of our free cash flow profile. Together, they reflect a disciplined, balanced approach to returning capital, one that runs in parallel with our ongoing investment in organic growth across the portfolio."
Conference Call and Webcast
Management will host a conference call and webcast to discuss the Company's Q2 2026 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: | Friday, August 14, 2026 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: | https://events.q4inc.com/attendee/255950472 |
| 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 www.wesdome.com. |
The financial statements and management's discussion and analysis will be available on the Company's website at www.wesdome.com and on SEDAR+ www.sedarplus.ca the evening of Thursday, August 13, 2026.
Technical Disclosure
The technical and geoscientific content of this press release have been reviewed, and approved by Peter Gula, P. Eng and General Manager of Eagle River Mine (wholly owned by Wesdome), a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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 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 mid-tier gold producer.
Contact Information
Raj Gill
SVP, Corporate Development & Investor Relations
Phone: +1.416.360.3743
Email: invest@wesdome.com
Trish Moran
VP, Investor Relations
Phone: +1.416.564.4290
Email: trish.moran@wesdome.com
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, which is based on expectations, estimates, projections, and interpretations as of the date of this release. Forward-looking information includes, without limitation, statements regarding: the timing of the Company's Q2 2026 financial results and related conference call and webcast; the Company achieving its full-year consolidated 2026 production guidance; Eagle River achieving full-year guidance; the expectation that the first Presqu'île stope will enter production the week of July 13, 2026, expanding the number of active zones; and the expectation of a stronger production profile at Kiena in the second half of the year.
These forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors including those risk factors discussed in the sections titled "Cautionary Note Regarding Forward-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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305013
