TORONTO, April  15, 2024  (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX: WDO, OTCQX: WDOFF) ("Wesdome" or the "Company") today announces first quarter 2024 ("Q1 2024") production results. The Company is also providing notice that it will release first quarter 2024 financial results after market close on Wednesday, May 8, 2024.

All figures are expressed in Canadian dollars unless otherwise indicated.

Q1 2024 Production Performance

Anthea Bath, President and CEO of Wesdome, commented:

"The first quarter of 2024 saw combined production which was in line with expectations, as we begin a year focused on delivering significant production and free cash flow growth. Further to our annual guidance update in January, the remaining three quarters are expected to see stronger output levels, supporting total planned production of 160,000 to 180,000 ounces this year.

At Eagle River, processing of higher grade material drove outperformance compared to plan. Development performance related to the 300 Zone continues to perform in line with budget.

At the Kiena Mine, development and stope preparation activities advanced during the quarter as the site readies to ramp up and process higher grade material in the second quarter. We note that grade processed during the first quarter reflects a greater proportion of ore from the lower grade Martin Zone.

On the back of gold price strength and an increase in cash generation by our operations, we also took the opportunity late in the quarter to reduce the outstanding balance under our revolving credit facility by $10 million. With cash flows expected to increase in the coming months, we remain on track to close out the remaining balance on the facility by the third quarter," Ms. Bath added.

First Quarter 2024 Conference Call and Webcast
The Company will release its first quarter 2024 financial results after market close on Wednesday, May 8, 2024. At that time, the financial statements and management discussion and analysis will be available on the company's website at  and on SEDAR+ . A conference call and webcast to discuss these results will be held on Thursday May 9, 2024 at 10:00 am ET.

• Participants may register for the call at the link below to obtain dial in details. Pre-registration is required for this event. It is commended you join 10 minutes prior to the start of the event.

• The webcast can also be accessed under the news and events section of the company's website

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 recently commissioned Kiena mine in Quebec. The Company's primary goal is to responsibly leverage this operating platform and high-quality brownfield and greenfield exploration pipeline to build Canada's next intermediate gold producer. Wesdome trades on the Toronto Stock Exchange under the symbol "WDO," with a secondary listing on the OTCQX under the symbol "WDOFF."

For further information, please contact:
Raj Gill, SVP, Corporate Development & Investor Relations
Trish Moran, VP, Investor Relations
Phone: +1 (416) 360-3743
E-Mail: invest@wesdome.com

To receive Wesdome's news releases by email, please register using the Wesdome website at

Technical Disclosure
The technical and geoscientific content of this release have been reviewed, and approved by Michael Michaud, P.Geo, Senior Vice President, Exploration and Resources of the Company and Frédéric Langevin, Eng, Chief Operating Officer of the Company, each a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.