TORONTO, April 10, 2025 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) ("Wesdome" or the "Company") today announces its production results for the first quarter ended March 31, 2025 ("Q1 2025"). The Company is also providing notice that it will release its Q1 2025 financial results after markets close on Tuesday, May 13, 2025 and host a conference call and webcast the following morning on May 14, 2025.
Q1 2025 Production Performance
| Q1 2025 | Q1 2024 | Change | |
| Ore milled (tonnes) | |||
| Eagle River | 60,010 | 51,632 | 16% |
| Kiena | 48,690 | 45,344 | 7% |
| Average head grade (g/t) | |||
| Eagle River | 15.6 | 15.5 | 1% |
| Kiena | 10.8 | 5.9 | 83% |
| Gold production (oz) | |||
| Eagle River | 28,999 | 24,899 | 16% |
| Kiena | 16,693 | 8,423 | 98% |
| Total gold production | 45,692 | 33,322 | 37% |
| Production sold | 45,300 | 35,700 | 27% |
Anthea Bath, President and CEO of Wesdome, commented, "We are pleased to report that total gold production for the first quarter exceeded our expectations, and we remain on track to meet our full-year production guidance. As previously outlined, we expect a second-half weighted production profile with the fourth quarter projected to account for approximately 30%, and all-in sustaining costs per ounce in the first half of the year to be approximately 15% above full-year guidance, reflecting the timing of production and sustaining capital expenditures.
"Eagle River had a strong start to the year driven by higher-than-anticipated average head grade from the 300 Zone. The operations team continues to execute well against the planned mining sequence, benefiting from positive grade reconciliation and the processing of ore stockpiled in late 2024. We continue to expect Eagle River to produce between 100,000 and 110,000 ounces of gold in 2025.
"Kiena's production in the first quarter nearly doubled compared to the same period last year, reflecting the ongoing ramp-up of high-grade feed from the Kiena Deep Zone that commenced in April 2024. Underground mining activities in select areas of the South and North Limbs as well as Kiena Deep A2 Zone are transitioning from a primarily long-hole mining method to a hybrid approach, combining cut-and-fill and long-hole stoping. We are steadily ramping up this new approach, which is already delivering encouraging results early in the second quarter and helping to drive more predictable performance.
"With a strong first quarter, we are well-positioned to achieve our operational targets for the remainder of the year."
Conference Call and Webcast
Management will host a conference call and webcast to discuss the Company's Q1 2025 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: | https://events.q4inc.com/attendee/291203613 | |
| 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 Tuesday, May 13, 2025.
About Wesdome Gold Mines Ltd.
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 gold producer.
For further information, please contact:
| Raj Gill SVP, Corporate Development & Investor Relations Phone: +1.416.360.3743 E-Mail: invest@wesdome.com | Trish Moran VP, Investor Relations Phone: +1.416.564.4290 E-mail: trish.moran@wesdome.com |
Technical Disclosure
The technical and geoscientific content of this press release have been reviewed, and approved 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 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 Company's production, specifically its production guidance and expected production profile, for the remainder of 2025; expected all-in sustaining costs per ounce in the first half of 2025; and the anticipated achievement of operational targets for the remainder of 2025.
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.
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