Wesdome Gold Mines Ltd. (TSX:WDO) is pleased to provide an update on underground drilling activities and current exploration ramp development at its 100% owned Kiena Mine Complex, in Val d’Or, Quebec.

Development of the Kiena Deep exploration ramp at the 1000 metre level commenced early August 2017 with 677 linear metres completed to date and is expected to be completed by the end of March 2018. In sequence with the ongoing ramp development, drilling of the Kiena Deep resumed on Zone B and the untested gap between Zone B and Zone A. Comparatively, Zone B is a lower grade, wider zone of quartz stockwork and gold mineralization compared to Zone A and the Upper Quartz zone, that consist of predominantly quartz veins and breccias. Drilling of the Zone A and Upper Quartz of the Kiena Deep is expected to commence in March and April, respectively.

A second drill was mobilized to drill station #4 early December to delineate the deeper part of the Kiena Deep Zone B sector. To date, 19 holes from drill station #2 at the 1000 metre level and 5 holes from drill station #4 at the 1002 metre level have been completed. Drilling confirms the existence of a multi-vein quartz stockwork/breccia system occurring near altered and deformed komatiite-tholeiitic basalt contacts. Early results from Kiena Deep B zone indicate moderate to locally higher gold grades obtained with occasional visible gold observed (see below highlights, Figure 1 and Table 1). Additionally, the new platforms on the ramp have enabled us to drill shorter, more accurate holes, significantly improving drilling performance.

Results Highlights:

Kiena Deep B Zone

*Previously unreported from pre-ramp drilling.
 All assays capped at 34.28 g/t Au. True widths are estimated.

As the ramp development has continued, one drill has been actively drilling several auxiliary targets near existing underground development including the S-50 and VC zone sectors and has returned encouraging results. (see below highlights and Table 1).

VC Zone

S-50 Zone

Mr. Duncan Middlemiss, President and CEO, commented, “Due to the layout of the exploration ramp, drilling of the Kiena Deep resumed on Zone B, (7.87 grams per tonne gold over 8.2 metres August 2016 initial discovery hole). Zone B is a lower grade, wider area of the deposit compared to Zone A (192.95 grams per tonne gold over 16.95 metres August 2016 initial discovery hole). Recent results on Zone B are consistent with the geology and expectations, and we remain very encouraged by results in this area. Drilling from the ramp platforms will continue to test Zone B as well as the untested gap between Zone B and Zone A, until the ramp advances further to the west. In late February, the ramp is expected to be in a position where the drill can be mobilized to begin drilling Zone A. A total of 50,000 metres is planned to be drilled underground and 12,000 on surface in 2018.

“We have continued to focus one drill following up on near-mine, auxiliary targets such as the VC and S-50 Zones, as they are important components of any potential re-start plan. Results from both of these areas are encouraging, as they are strong intercepts located close to existing mine infrastructure and development.”

In addition, a high resolution airborne magnetic survey is currently underway covering the entire Kiena – Val-d’Or property to help delineate potential gold bearing structural trends and aid in generating new drill targets.

THE KIENA COMPLEX

The Kiena Mine Complex is a fully permitted, integrated mining and milling infrastructure which includes a 930 metre production shaft and 2,000 tonne per day capacity mill. From 1981 to 2013 the mine produced 1.75 million ounces of gold from 12.5 million tonnes at a grade of 4.5 g/t. The bulk of this production came from the S-50 Zone between depths of 100 and 1,000 metres. In 2013, operations were suspended due to a combination of declining gold prices and lack of developed reserves. The infrastructure has been well preserved on care and maintenance status. An independent 43-101 report dated December 16, 2015 for the first time assessed the exploration potential and known resources for the entire property. Measured and Indicated resources below a 100 metre crown pillar total 2,500,600 tonnes at 5.59 grams per tonne for 449,000 ounces. Additional inferred resources below a 100 metre crown pillar total 1,563,300 tonnes at a 7.97 grams per tonne for 400,400 ounces.

Technical Report for the Quebec Wesdome Project (according to National Instrument 43-101 and Form 43-101F1) dated December 16, 2015 prepared by Bruno Turcotte, P.Geo., Denis Gourde, Eng., Pierre-Luc Richard, P.Geo. of InnovExplo Inc.

TECHNICAL DISCLOSURE

The technical and scientific disclosure in this press release has been compiled, reviewed and approved by Marc Ducharme, P. Geo. (OGQ #597), Chief Exploration Geologist of Wesdome and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Analytical work was performed by Techni-Lab (ActLabs) of Ste-Germaine-Boulé (Quebec), a certified commercial laboratory (SCC Accredited Lab #707). Sample preparation was done at Techni-Lab (ActLabs) in Val d’Or (Quebec) and assaying was done by fire assay methods at Techni-Lab (ActLabs) laboratory in Ste-Germaine-Boulé (Quebec). 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.

ABOUT WESDOME

Wesdome Gold Mines is in its 31st year of continuous gold mining operations in Canada. The Company is 100% Canadian focused with a pipeline of projects in various stages of development. The Eagle River Complex near Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec. The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario. The Company has approximately 133 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO.”