Toronto, Ontario--(Newsfile Corp. - September 16, 2026) - Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF) ("Wesdome" or the "Company") today provides an update on exploration drilling activities completed at its wholly-owned Kiena mine ("Kiena") near Val-d'Or, Quebec (Figure 1).

HIGHLIGHTS

Shawkey 10 (Figures 2-5, Table 1)¹

Interpreted thickness of diorite host rock more than doubles from approximately 80 metres to over 200 metres with mineralization throughout

• SH-26-001: 3.1 g/t Au uncapped over 106.5 m core length, (2.6 g/t Au capped, 106.5 m core length) including,
  • 20.4 g/t Au uncapped over 10.8 m core length, (15.4 g/t Au capped, 10.8 m core length)
  • 5.6 g/t Au uncapped over 6.2 m core length, (5.6 g/t Au capped over 6.2 m core length)
  • 3.1 g/t Au uncapped over 9.2 m core length, (3.1 g/t Au capped over 9.2 m core length)

• SH-26-001: 1.6 g/t Au uncapped over 23.4 m core length, (1.6 g/t Au capped over 23.4 m core length)

• SH-26-001 is a follow-up to S-21-831 (see news release dated May 23, 2023), which intersected 2.3 g/t Au over 72.0 m, and approximately doubles the grade thickness of that previous intersection, materially increasing the target volume at Shawkey 10.

• The expanded host, together with previous Shawkey drilling and geological similarities observed at Shawkey Mine and the Dubuisson Zone, supports the potential for a broader Kiena East mineralized corridor.

¹Assays capped at 90.0 g/t for Shawkey 10 (assays capped).

Anthea Bath, President and Chief Executive Officer, commented, "Today's results provide further evidence of the scale and breadth of the Kiena system and a meaningful step forward in our understanding of what the Kiena East corridor – currently comprising Shawkey 10, Shawkey Mine, 134 and Dubuisson zones – could become.

"The emerging picture at Kiena East, which includes repeated broad mineralization, multiple higher-grade structures, and a large prospective host, bears the hallmarks of a system with real scale potential. Our next phase of drilling is designed to improve our understanding of whether these historically separate mineralized areas form part of a broader connected system. If demonstrated, the implications for Kiena East's long-term resource potential could be significant.

"Importantly, Kiena East represents a potential growth horizon that is distinct from the principal mining and development areas within the broader Kiena property. Situated within our existing operating platform, and while still at an early stage, it has the potential to broaden the mine's production base and add meaningful long-term optionality.

"The results are significant because they demonstrate that broad mineralization is not confined to the original intersection reported in 2021. Together with results at Dubuisson and historic information from the Shawkey Mine, they strengthen our view that Kiena East may represent a far larger mineralized system than previously understood. Establishing the geometry and continuity among these areas is now the central objective of our drilling program."

Jono Lawrence, Senior Vice President, Exploration and Resources, added, "Hole SH-26-001 was designed to follow up the broad mineralization intersected in hole S-21-831 using a revised geological and structural model informed by recent geophysical work and geological observations from the surrounding Shawkey and Dubuisson areas. The new hole intersected 3.1 g/t Au over 106.5 metres and expanded the interpreted thickness of the prospective diorite host from approximately 80 metres to more than 200 metres. The result confirms a broad zone of diorite-hosted mineralization and identifies several higher-grade quartz-tourmaline vein intervals within it. Drilling is underway to establish the orientation and continuity of these structures and test the extent of the broader mineralized envelope."

TECHNICAL DETAILS

Shawkey 10

SH-26-001 intersected 3.1 g/t Au over 106.5 metres uncapped, or 2.6 g/t Au capped, and is a follow-up drillhole to S-21-831 which was drilled in 2021. S-21-831 intersected 2.3 g/t Au over 72.0 metres core length within a mineralized diorite host and was characterized by disseminated pyrite and an array of quartz-carbonate-tourmaline veins with associated albite and sericite alteration.

Additional previous drilling, including S-21-823 and S-22-852 (see news release dated May 23, 2023), extended the diorite-hosted mineralization approximately 200 metres up-dip and along strike. However, uncertainty regarding the orientation of the mineralized structures and the geometry of the host limited the earlier interpretation of the target.

SH-26-001 tested a revised geological and structural model developed from recent geophysical data and geologic observations at nearby mineralized areas, including Shawkey Mine and Dubuisson. At depth, the hole also intersected a broad zone of 250 metres of mineralization hosting another eight intercepts grading over 1.0 g/t Au, including 1.6 g/t Au over 23.4 metres from 914 metres. Mineralization at depth was also hosted within the same intrusive diorite with similarly oriented, stacked zones of quartz-tourmaline veining. Together, these initial results could prove strategically important, suggesting that the mineralized system may extend from surface to more than 700 metres true depth, with the depth potential remaining open. The potential of these eight mineralized intercepts to expand and extend further into the footwall part of the diorite remains high. Follow-up drilling is underway to assess the down-dip continuity of the host diorite.

The new hole, SH-26-001, expanded the interpreted thickness of the prospective diorite host from approximately 80 metres to more than 200 metres. Shawkey 10 remains open down-plunge and along strike and is considered a high-priority growth target. Interpretation of the high-resolution magnetic survey completed in late 2025 suggests a continuation of the host intrusive diorite to the east towards the property boundary, and potentially beyond. Drilling is ongoing to tighten spacing for an initial resource in the shallower portion of the known zone, with additional deep holes planned to evaluate the broader lateral extension at depth. Approximately 500 metres of strike length to the shoreline of Lac De Montigny remains to be tested, with a robust winter drilling program designed to further define the zone. Drill holes to test concepts of potential links at depth with the Shawkey Mine and Dubuisson deposits are in design, along with revised 3D inversions of geophysical survey data as part of the overall structural interpretation and target generation exercise of the property.

To date, a total of 102 surface drill holes, including SH-26-001, have been completed at Shawkey 10 for a total of 25,725 metres. From underground, a total of 45 drill holes were completed from historic exploration workings, totaling 5,023 metres. These holes were focused mainly on the sector to the south of Shawkey 10.

A review of historic and modern drilling indicates that much of the previous drilling was completed subparallel to the vein stacking orientation at Shawkey 10. Drilling at Shawkey 10 is being completed from southwest to northeast, opposite to the orientation in which the 2021 and 2022 campaigns were drilled. The 2026 drill holes are perpendicular to the axis of the veins (Figures 3,4,5) and confirm that the veins dip to the southwest. Ongoing televiewer data collection will improve the geological model and understanding of the vein orientations.

ABOUT WESDOME

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d'Or, Québec. 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 gold producer.

FOR MORE INFORMATION

TECHNICAL DISCLOSURE

Exploration Kiena drilling, the drill core NQ in size, was cut in half with a diamond saw resulting in a half core sample for assay and a half core sample to be retained for reference. Delineation drilling, in defined resource areas, is BQ in size and the entire core was sent for assay analysis. Analytical work is performed by ALS Minerals of Val-d'Or (Québec), a certified commercial laboratory (Accredited Lab #689). Sample preparation was completed at ALS Minerals in Val-d'Or (Québec). Assaying comprised fire assay methods with an atomic absorption finish. Any sample assaying >3 g/t Au was re-run using the fire assay method with gravimetric finish, and for any sample assaying >10 g/t Au was re-run with the metallic sieve method. 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. The QP confirmed the disclosed data, including the underlying sampling, reports from lab results and there was validation on the QAQC process and receipt of reports from the ALS results. A revision of historical results and core was done by Wesdome personnel at site and reported in detail to the QPs. There was approval of procedures for drill hole descriptions, sampling, and preparation of samples prior to being shipped to the ALS lab. Verification and validation of assay results highlighted that all QAQC sample results were within respective control limits.

QUALIFIED PERSONS

The technical content of this release has been compiled, reviewed, and approved by the following employees of Wesdome: Breanne Beh, P.Geo., (OGQ #2165) Director Surface and Greenfields Exploration; and Serge Gonthier, P.Geo., (OGQ #578) Principal Geologist, Resources and Geology. Each is 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 potential for a broader Kiena East mineralized corridor; the possibility of Shawkey 10, Shawkey Mine, 134 and Dubuisson zones becoming a Kiena East corridor; Kiena East having real scale potential; the potential that the historically separate zones Shawkey 10, Shawkey Mine, 134 and Dubuisson zones form part of a broader connected system, which if demonstrated, could imply significant long-term resource potential; Kiena East representing a potential growth horizon, distinct from the principal mining and development areas within the broader Kiena property; Kiena East having the potential to broaden the mine's production base and add meaningful long-term optionality; the view that Kiena East may represent a much larger mineralized system than historically understood; the results from SH-26-001 potentially proving to be strategically important, suggesting that the mineralized system may extend from surface to more than 700 metres true depth, with the depth potential remaining open; the potential of the eight mineralized intercepts at Shawkey 10 to expand and extend into the footwall part of the diorite remaining high; and the interpretation of the high-resolution magnetic survey completed in late 2025 suggesting a continuation of the host intrusive diorite to the east of the property boundary, and potentially beyond.

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.

APPENDIX

Figure 1: Kiena Plan View, Near-Mine Exploration

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2397/314648_aa0835f794d44972_001full.jpg

Figure 2: Cross Section of Shawkey 10 – Looking Northwest

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2397/314648_aa0835f794d44972_002full.jpg

Figure 3: Drill Core Photo from Hole SH-26-001

An interval from drill hole SH-26-001, 387.0 m to 393.2 m down hole, returned 5.6 g/t Au over 6.2 m within sheared and altered diorite with repeating extensional quartz-tourmaline veins and pyrite and gold mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2397/314648_aa0835f794d44972_003full.jpg

Figure 4: Drill Core Photo from Hole SH-26-001

An interval from drill hole SH-26-001, 419.8 m to 430.6 m down hole, returned 20.4 g/t Au over 10.8 m within altered diorite with repeating extensional quartz-tourmaline veins and pyrite and gold mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2397/314648_aa0835f794d44972_004full.jpg

Figure 5: Drill Core Photo from Hole SH-26-001

An interval from drill hole SH-26-001, 847.0 m to 850.1 m down hole, returned 8.6 g/t Au over 3.1 m within highly altered diorite with extensional quartz-tourmaline veins and pyrite and gold mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2397/314648_aa0835f794d44972_005full.jpg

Table 1: Kiena Drill Composite Results (Previously Unreleased)

Figures in table may not add due to rounding

Shawkey 10

Table 2: Kiena Drill Assay Results (Previously Unreleased)

Link to Table 2 Kiena Drill Assay Results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314648

Source: Wesdome Gold Mines Ltd.