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.

“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.”

TORONTO, July 03, 2024 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today provides an update on underground exploration activities at the Company’s wholly-owned Eagle River Mine (“Eagle River”) near Wawa, Ontario.

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Highlights

6 Central Zone (Figure 1, Table 1)^1,2
Drilling has extended the high grade zone 150 metres to the east, adjacent to existing infrastructure:

• Hole 758-E-456: 71.7g/t Au over 3.3 m core length (58.2g/t Au capped, 2.8 m true width)
  • Including 233.6 g/t Au uncut over 0.5 m core length
  • Including 144.5 g/t Au uncut over 0.4 m core length
• Hole 758-E-463: 93.7g/t Au over 3.0 m core length (59.7g/t Au capped, 2.6 m true width)
  • Including 339.4 g/t Au uncut over 0.4 m core length
  • Including 193.7 g/t Au uncut over 0.3 m core length

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Ms. Anthea Bath, President and Chief Executive Officer, commented,

“These drilling results at Eagle River underscore the prospectivity across this asset, particularly as the high grade 6 Central Zone continues to expand down-plunge to the east, and the continuity and extension potential of the Falcon 311 and 300 zones is now being confirmed in follow-up drilling.

“This year’s exploration program at Eagle River is expanding the existing resource base of known zones and identifying targets near existing infrastructure.

“In the coming months, our objective is to integrate results from this drill program with recently initiated asset optimization studies to potentially extend mine life, leverage existing development more effectively and increase utilization of Eagle River’s 1,200 tonne per day mill.”

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To View Wesdome Gold Mine’s historical news, please click here

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To read the full news release, please click HERE

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Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

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TORONTO, Feb. 20, 2024 (GLOBE NEWSWIRE) —Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announced additional drill results from the recently discovered Falcon 311 Zone hosted in volcanics west of the mine diorite at the Company’s wholly-owned Eagle River Mine (“Eagle River”) near Wawa, Ontario.

Confirmation of continuity of the Falcon 311 Zone mineralization across mineable widths:

• Hole 857-E-24: 269.6 g/t Au over 2.3 m core length (26.7 g/t Au capped,1.5 m true width)
  • Including 1,261 g/t Au over 0.5 m
• Hole 857-E-16A: 53.0 g/t Au over 2.9 m core length (28.6 g/t Au capped, 1.9 m true width)
• Hole 857-E-04: 24.7 g/t Au over 2.0 m core length (24.7 g/t Au capped, 1.5 m true width)

All assays capped at 125 g/t Au. True widths are estimated based on 3D model construction

Ms. Anthea Bath, President and Chief Executive Officer commented:

“Ongoing drilling continues to consistently expand the newly discovered Falcon 311 Zone and highlight the upside potential for growth within our existing mine footprint at Eagle River.

“By leveraging our experience and understanding of the Falcon 7 Zone, the team was able to quickly identify and define this new discovery at a higher hit rate per hole. Recall, Falcon 7 was initially discovered in 2019 and in production by 2021.

“Falcon 311 remains open in all directions, including up plunge towards surface, and has the potential to provide additional mining horizons and generate strong returns by benefiting from existing mine infrastructure.”

“Falcon 311 is now the second zone identified in the volcanic rocks west of the mine diorite, confirming the prospectivity in an area that has seen limited drilling historically.

“The exploration along this horizon as well as the definition and expansion of this new discovery will remain a priority for drilling in the coming months.”

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To read the full news release, please click HERE

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TORONTO, Dec. 11, 2023 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) (“Wesdome” or the “Company”) today announces additional drill results from the recently discovered zone hosted in volcanics west of the mine diorite and additionally from mineralization identified along the eastern margin of the mine diorite at the Company’s wholly-owned Eagle River Mine (“Eagle River”) in Wawa, Ontario.

Ms. Anthea Bath, President and CEO commented:

“Results from ongoing drilling continue to better define and expand the newly discovered zone of mineralization, now known as the Falcon 311 zone.

“The intervals are significant in that they are broader than what is typical for Eagle River, which bodes well for potential mineability. We are also highly encouraged by initial drilling along the eastern contact of the mine diorite that is already returning high grades from within the volcanic rocks.

“Both these new areas have the potential to provide additional mining horizons and optimize use of current infrastructure, ultimately providing additional reserves extending mine life and/or mill throughput.

Having discovered gold mineralization both east and west of the mine highlights the strength of the mineralized system and the potential of the surrounding volcanic rocks that have received limited exploration in recent years.”

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In October, the Company announced initial drill results that returned high grade gold values west of the mine diorite .

Follow up drilling has confirmed that the zone extends to the 900-metre level and remains open down plunge.

Additionally, several of the most recent intersections are wider in width than is typical for the Eagle River mine, often greater than 5 metres true thickness.

Furthermore, distribution of gold grades are generally more consistent across the zone than in the mine diorite. The definition and expansion of this new discovery will remain a priority for drilling in the coming months.

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To read the full news release please click HERE

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