Wesdome Expands High-Grade Zones at Eagle River, Highlighting Growth Potential near Existing Infrastructure

2026-11-02

TSX - Toronto Stock Exchange · Gold · Silver · Canada · Drill Results

High-grade growth potential laterally and at depth: Drilling in the western extension of the 800 Zone, one of the mineralized zones at Eagle River, intersected high-grade gold over significant widths, including 8.3 g/t gold over 10.6 metres, highlighting the potential to expand the known high-grade zone laterally. Previously released drilling also identified mineralization more than 200 metres below the current zone model, outlining a prospective corridor for further expansion at depth.

Exceptionally high-grade intercepts in an under-drilled area: A drill hole in the 500 Zone returned 96.2 g/t gold over 2.2 metres (uncapped), supporting continuity across an area that has seen limited drilling.

Growth potential near existing infrastructure: Drilling across multiple levels of the 700 Zone, one of the shallower zones, confirmed high-grade mineralization, including 20.2 g/t gold (uncapped) over 5.7 m, and outlined an interpreted 200 x 100 metre growth area near existing infrastructure, highlighting the potential to expand mineral resources beyond the current model.

Toronto, Ontario--(Newsfile Corp. - November 2, 2026) - Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF) ("Wesdome" or the "Company") today provides an update on its exploration and infill drilling activities completed at its wholly-owned Eagle River mine ("Eagle River") near Wawa, Ontario.

Anthea Bath, President and Chief Executive Officer, commented, "These results continue to highlight Eagle River's significant growth potential, both deeper in the mine and around existing underground infrastructure.

"In the 800 Zone, drilling has intersected high-grade gold over meaningful widths along its western extension, while previously reported results suggest the zone extends more than 200 metres beyond its currently modelled limits.

"In the shallower 700 Zone, drilling has outlined a potential expansion area of approximately 200 x 100 metres near existing infrastructure, creating an opportunity to add to our mineral resources.

"Encouraging results from the 500 Zone, and the emerging growth corridor between the 800 and 6 Central zones also point to multiple potential mining areas. Many of these zones are shallower than our deepest working areas. Their location near existing infrastructure could mean less access development to reach them and shorter distances to transport mined material. Together these areas could give us more options for where and when we mine. This is growth we can pursue from an operating mine, without the cost or complexity of a greenfield project.

"Our systematic approach to exploration continues to identify high-grade gold in shallower, less explored parts of Eagle River and beyond the boundaries of our current geological model. These discoveries support our priorities of expanding resources and reserves, advancing discoveries toward future production and extending mine life. With four underground exploration drills operating, we will continue to test these extensions through the balance of the year and into 2027.

Jono Lawrence, Senior Vice President, Exploration and Resources, added, "The 2026 Eagle River near-mine growth exploration program completed 21 underground drill holes and one previously released deep surface diamond drill hole, totalling approximately 8,000 metres. The program continues to extend and upgrade known mineralization near Eagle River infrastructure and down dip. Results show high-grade mineralization continuing along trend in the 800, 500, and 700 zones. We interpret these as sub-parallel shoots, which, if confirmed, point to a system with multiple similarly oriented high-grade zones, supporting the case for more discoveries along strike and between these zones.

"Significant drilling was completed in the 800 Zone, with recent holes intersecting high-grade gold over highly meaningful widths. The western extension shows high grades and increased thickness. Earlier in the year, a deeper target tested along the projected trend intersected gold more than 200 metres below the known 800 Zone providing a defined corridor for follow-up drilling in 2027. The 800 Zone remains open in multiple directions, so the full extent of the exploration upside has yet to be defined.

"Between the 800 Zone and the 6 Central Zone we confirmed new mineralization first identified in 2025, less than 10 metres from an active ramp. In the 6 Central Zone itself, we intersected high-grade gold across multiple intervals. This is significant because this is high-grade gold sitting adjacent to our operating Eagle River mine supporting low-cost mineable ounces.

"The 500 Zone also delivered an excellent result, where a single drill hole returned exceptionally high-grade gold, closing the gap along the zone in a previously under-drilled sector, confirming continuity and high grade.

"In the 700 Zone, conversion drilling across multiple levels, from the upper portion to the deeper parts of the model, increases our confidence in the zone and has outlined interpreted mineralization over an area of approximately 200 x 100 metres. As one of the shallower zones at Eagle River, located close to existing infrastructure, the 700 Zone represents an opportunity to increase the amount of known gold and extend the zone beyond its current boundaries.

"Taken together, the results from across all of these zones will feed into the next mineral reserve and mineral resource update, scheduled to be published in the first half of 2027."

EAGLE RIVER NEAR MINE HIGHLIGHTS1(Figures 1 to 6, Table 1)

800 Zone and 800 Growth Area (Figure 3)

High-grade gold mineralization over increased widths was intersected in the 800 Zone extension, highlighting the potential to expand the existing grade shell down dip. Previously released deep surface hole ERS-2026-001-W1 also intersected high-grade mineralization more than 200 metres below the current 800 Zone model, identifying a 200 to 300 metre prospective corridor for follow-up drilling in 2027.

26-925-10: 8.3 g/t Au uncapped over 10.6 m core length (5.9 g/t Au capped over 10.6 m core length) including,

18.2 g/t Au uncapped over 0.6 m core length,

143.0 g/t Au uncapped over 0.5 m core length (90.0 g/t capped over 0.5 m core length).

26-925-03: 8.3 g/t Au uncapped over 8.0 m core length (8.3 g/t Au capped over 8.0 m core length) including,

41.4 g/t Au uncapped over 0.4 m core length,

83.5 g/t Au uncapped over 0.5 m core length.

26-925-04: 25.4 g/t Au uncapped over 0.4 m core length (25.4 g/t Au capped over 0.4 m core length).

26-925-09: 10.5 g/t Au uncapped over 0.5 m core length (10.5 g/t Au capped over 0.5 m core length).

26-925-11: 32.5 g/t Au uncapped over 0.3 m core length (32.5 g/t Au capped over 0.3 m core length).

26-805-49: 12.2 g/t Au uncapped over 1.0 m core length (12.2 g/t Au capped over 1.0 m core length).

26-805-50: 9.0 g/t Au uncapped over 1.5 m core length (9.0 g/t Au capped over 1.5 m core length) including,

15.2 g/t Au uncapped over 0.5 m core length.

26-805-48: 37.9 g/t Au uncapped over 0.5 m core length (37.9 g/t Au capped over 0.5 m core length).

26-1201-36: 13.3 g/t Au uncapped over 2.3 m core length (13.3 g/t Au capped over 2.3 m core length) including,

41.0 g/t Au uncapped over 0.6 m core length.

ERS-2026-001-W1 (previously released, see news released dated June 22, 2026): 9.7 g/t Au uncapped over 2.0 m core length (9.7 g/t Au capped over 2.0 m core length) including,

19.0 g/t Au uncapped over 1.0 m core length.

500 Zone Growth(Figure 4)

Hole 26-1201-36 tested a previously under-drilled 100 x 100 metre area of the 500 Zone. Follow-up drilling will test continuity and the potential for resource expansion.

26-1201-36: 96.2 g/t Au uncapped over 2.2 m core length (26.2 g/t Au capped over 2.2 m core length) including,

345.0 g/t Au uncapped over 0.6 m core length (90.0 g/t Au capped over 0.6 m core length).

26-1201-34: 23.0 g/t Au uncapped over 0.6 m core length (23.0 g/t Au capped over 0.6 m core length).

700 Zone Conversion and Growth Drilling (Figure 5)

Six growth holes outline high-grade gold mineralization over an interpreted 200 x 100 metre area beyond the resource model, and conversion holes confirm grades across upper and lower levels.

26-470-19: 20.2 g/t Au uncapped over 5.7 m core length (17.0 g/t Au capped, 5.7 m core length) including,

40.7 g/t Au uncapped over 0.3 m core length,

52.9 g/t Au uncapped over 1.6 m core length (50.7 g/t Au capped over 1.6 m core length).

26-470-06: 39.8 g/t Au uncapped over 1.0 m core length (39.8 g/t Au capped, 1.0 m core length).

26-470-14: 21.8 g/t Au uncapped over 3.2 m core length (21.8 g/t Au capped, 3.2 m core length) including,

67.3 g/t Au uncapped over 1.0 m core length.

26-470-18: 22.4 g/t Au uncapped over 1.7 m core length (22.4 g/t Au capped, 1.7 m core length) including,

39.5 g/t Au uncapped over 0.3 m core length,

70.5 g/t Au uncapped over 0.3 m core length.

26-470-20: 16.6 g/t Au uncapped over 1.7 m core length (16.6 g/t Au capped, 1.7 m core length) including,

44.0 g/t Au uncapped over 0.4 m core length.

26-470-22: 21.5 g/t Au uncapped over 3.1 m core length (21.5 g/t Au capped, 3.1 m core length) including,

31.1 g/t Au uncapped over 0.5 m core length,

65.7 g/t Au uncapped over 0.5 m core length.

26-350-08: 29.0 g/t Au uncapped over 2.1 m core length (29.0 g/t Au capped, 2.1 m core length) including,

51.5 g/t Au uncapped over 0.4 m core length,

38.0 g/t Au uncapped over 0.7 m core length.

26-1201-36: 8.9 g/t Au uncapped over 2.0 m core length (8.9 g/t Au capped, 2.0 m core length) including,

41.0 g/t Au uncapped over 0.4 m core length.

26-1201-26: 25.6 g/t Au uncapped over 2.0 m core length (25.6 g/t Au capped, 2.0 m core length) including,

70.8 g/t Au uncapped over 0.6 m core length.

Corridor Between 800 and 6 Central Zones (Figure 6)

Drill holes located less than 10 metres from the 805 ramp confirm mineralization first identified in 2025, indicating a potential new east-west high-grade vein close to existing mine infrastructure; follow-up in Q1 2027. Results highlight the corridor's growth potential and support resource conversion near existing workings.

26-805-61: 11.9 g/t Au uncapped over 2.1 m core length (11.9 g/t Au capped, 2.1 m core length) including,

68.0 g/t Au uncapped over 0.4 m core length.

26-805-62: 30.3 g/t Au uncapped over 2.0 m core length (30.3 g/t Au capped, 2.0 m core length) including,

56.1 g/t Au uncapped over 0.5 m core length,

31.7 g/t Au uncapped over 0.5 m core length,

43.1 g/t Au uncapped over 0.3 m core length.

6 Central Zone Conversion and Growth Drilling (Figure 6)

Two high-grade intercepts inside the 6 Central Zone resource are consistent with historical hole 805-E-06, supporting conversion and highlighting the potential for down-dip extensions at depth.

25-805-47: 14.1 g/t Au uncapped over 1.8 m core length (14.1 g/t Au capped, 1.8 m core length) including,

66.6 g/t Au uncapped over 0.4 m core length.

25-805-47: 12.5 g/t Au uncapped over 2.6 m core length (12.5 g/t Au capped, 2.6 m core length) including,

28.7 g/t Au uncapped over 0.6 m core length.

_1_Assays capped at 90 g/t.

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.

TECHNICAL DISCLOSURE

At the beginning of the 2026 campaign, conversion drilling was completed in BQ size, and the core was sampled in full. Underground exploration holes drilled in NQ size began to follow the same procedure as surface drilling: the core was cut in half with a diamond saw, with one half of the core sample sent for assay and the other half retained for reference.

The sampling of, and assay data from, Eagle River mine drill core is monitored through the implementation of a quality assurance - quality control (QA/QC) program designed to follow industry best practice. Underground drill samples are transported in sealed bags to the Eagle River laboratory in Wawa, Ontario (which is operated by Wesdome, is not independent, and is not accredited), along with an electronic Chain of Custody that itemizes each sample. Samples are analyzed for gold using standard fire assay technique with gravimetric finish. Wesdome inserts blanks and certified reference standards into the sample sequence for quality control at the core shack, and the Wesdome laboratory also inserts their own standards and blanks for each certificate. The QA/QC procedure is described in more detail in the Technical Report for the Eagle River Gold Mining Complex, Ontario, Canada filed under the Company's profile on SEDAR+ on April 22, 2022. In 2024, core sample length was changed from 0.3 m to 0.5 m, while respecting lithological contacts. Pulps are sent to SGS (an ISO/IEC 17025:2017 accredited and independent laboratory), as an external laboratory check of Au assay, run in duplicate, with a sample frequency of 30 to 40 samples selected each month.

Due to the increased volume of assays, the service of AGAT Laboratories in Thunder Bay was used as a second Laboratory. Samples were transported in sealed bags by laboratory registered courier trucks and transported to AGAT Laboratories in Thunder Bay, Ontario (an ISO/IEC 17025:2017 accredited and independent laboratory, accredited lab No. 665) for preparation and analysis. Pulps are analyzed by fire assay and AAS finish (AGAT method 202-051). Samples that graded more than 10 g/t Au were subsequently tested by gravimetric (202-064) and metallic screen (202-121) assays. Halved drill core is kept stored at the Eagle River Complex in core racks for long-term storage. Pulps are returned to Wesdome and are stored in a sea-container at the operations office in the Mishi camp. QA/QC is achieved with a 3-sample package (a blank, a pulp duplicate and a commercial gold standard) that are inserted into the sample stream at an interval of 20 samples. Consequently, 15 QA/QC samples are inserted for each 100 samples. Additionally, blanks were inserted after visible gold is observed to prevent contamination between samples.

QUALIFIED PERSONS

The technical content of this release has been compiled, reviewed, and approved by the following employees of Wesdome: Breanne Beh, P.Geo., (PGO #2648) Director Surface and Greenfields Exploration; and Serge Gonthier, P.Geo., (PGO #1849) 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: Eagle River's growth potential, including the opportunity to expand high-grade mineralization in the 800 Zone laterally and at depth, including along a 200 to 300 metre prospective corridor below the current 800 Zone model; the potential for resource expansion and continuity in the 500 Zone; the potential to expand mineral resources in the 700 Zone beyond the current model, including within an interpreted 200 x 100 metre growth area; the potential for a new east-west high-grade vein in the corridor between the 800 and 6 Central zones and for down-dip extensions of the 6 Central Zone; the interpretation that the 800, 500 and 700 zones are sub-parallel shoots forming part of a system with multiple similarly oriented high-grade zones, and the opportunity for additional discoveries along strike and between these zones; the potential for resource conversion near existing infrastructure; the potential for these zones to provide multiple mining areas, reduce access development and haulage distances, and increase flexibility in mine sequencing; the ability to pursue growth from an operating mine without the cost or complexity of a greenfield project; the Company's priorities of expanding mineral resources, advancing discoveries toward future production and extending mine life; planned follow-up drilling, including in the first quarter of 2027 and through the balance of 2026 and into 2027; and the inclusion of these results in the next mineral reserve and mineral resource update, scheduled for the first half of 2027.

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

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_001full.jpg)

Figure 1: Eagle River Deposit - Long Section Looking North

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_001full.jpg

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_002full.jpg)

Figure 2: Eagle River Deposit - Plan View with Long Section Locations

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_002full.jpg

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_003full.jpg)

Figure 3: Eagle River - Long Section of the 800 Zone Looking North

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_003full.jpg

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_004full.jpg)

Figure 4: Eagle River - Long Section of the 500 Zone

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_004full.jpg

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_005full.jpg)

Figure 5: Eagle River - Long Section of the 700 Zone

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_005full.jpg

[](https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_006full.jpg)

Figure 6: Eagle River - Plan View of the Emerging Growth Corridor Between the 800 and 6 Central Zones

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2397/322164_e3416852144549e8_006full.jpg

Table 1: Eagle River Drill Composite Results (Previously Unreleased)

Figures in table may not add due to rounding

| Hole No. | From (m) | To (m) | Core Length (m) | Grade (g/t Au) | Grade (capped) (g/t Au) | Zone | | 26-1201-36 | 446.77 | 449.03 | 2.18 | 96.19 | 26.24 | 500 | | including | 448.41 | 449.03 | 0.62 | 345.00 | 90.00 | | | 26-1201-34 | 415.10 | 415.73 | 0.63 | 23.00 | 23.00 | 500 | | 26-1201-36 | 149.19 | 151.20 | 2.01 | 8.89 | 8.89 | 700 | | including | 149.70 | 150.13 | 0.43 | 41.00 | 41.00 | | | 26-1201-36 | 88.70 | 91.00 | 2.30 | 13.28 | 13.28 | 800 Area | | including | 89.40 | 90.00 | 0.60 | 41.00 | 41.00 | | | 26-1201-26 | 201.00 | 203.00 | 2.00 | 25.61 | 25.61 | 700 | | including | 201.83 | 202.45 | 0.62 | 70.83 | 70.83 | | | 26-350-08 | 237.42 | 239.51 | 2.09 | 28.95 | 28.95 | 700 Area | | including | 237.93 | 238.34 | 0.41 | 51.50 | 51.50 | | | including | 238.34 | 239.00 | 0.66 | 38.00 | 38.00 | | | 25-805-47 | 186.14 | 188.71 | 2.57 | 12.46 | 12.46 | 6 central Area | | including | 187.36 | 187.96 | 0.60 | 28.70 | 28.70 | | | 25-805-47 | 215.62 | 217.37 | 1.75 | 14.08 | 14.08 | 6 Central | | including | 216.03 | 216.39 | 0.36 | 66.60 | 66.60 | | | 26-805-62 | 4.00 | 6.00 | 2.00 | 30.25 | 30.25 | 6 Central/800 Corridor | | including | 4.00 | 4.50 | 0.50 | 56.09 | 56.09 | | | including | 4.50 | 4.98 | 0.48 | 31.72 | 31.72 | | | including | 5.70 | 6.00 | 0.30 | 43.07 | 43.07 | | | 26-805-61 | 0.50 | 2.59 | 2.09 | 11.88 | 11.88 | 6 Central/800 Corridor | | including | 1.05 | 1.40 | 0.35 | 68.00 | 68.00 | | | 26-470-14 | 123.60 | 126.75 | 3.15 | 21.81 | 21.81 | 700 | | including | 124.00 | 125.00 | 1.00 | 67.33 | 67.33 | | | 26-470-18 | 102.28 | 104.00 | 1.72 | 22.38 | 22.38 | 700 | | including | 102.58 | 102.88 | 0.30 | 39.50 | 39.50 | | | including | 103.18 | 103.50 | 0.32 | 70.50 | 70.50 | | | 26-470-19 | 95.90 | 101.60 | 5.70 | 20.22 | 16.97 | 700 | | including | 95.90 | 96.20 | 0.30 | 40.73 | 40.73 | | | including | 99.10 | 100.70 | 1.60 | 52.89 | 50.70 | | | 26-470-22 | 93.90 | 97.00 | 3.10 | 21.46 | 21.46 | 700 | | including | 94.50 | 95.00 | 0.50 | 31.10 | 31.10 | | | including | 95.00 | 95.50 | 0.50 | 65.70 | 65.70 | | | 26-470-06 | 117.00 | 118.00 | 1.00 | 39.80 | 39.80 | 700 | | including | 117.00 | 118.00 | 1.00 | 39.80 | 39.80 | | | 26-470-20 | 90.35 | 92.09 | 1.74 | 16.55 | 16.55 | 700 | | including | 91.70 | 92.09 | 0.39 | 43.97 | 43.97 | | | 26-925-03 | 262.70 | 270.65 | 7.95 | 8.26 | 8.26 | 800 | | including | 263.03 | 263.40 | 0.37 | 41.41 | 41.41 | | | including | 269.00 | 269.47 | 0.47 | 83.53 | 83.53 | | | 26-925-10 | 298.80 | 309.40 | 10.60 | 8.25 | 5.85 | 800 | | including | 299.25 | 299.80 | 0.55 | 18.20 | 18.20 | | | including | 303.95 | 304.43 | 0.48 | 143.00 | 90.00 | | | 26-925-04 | 222.64 | 223.06 | 0.42 | 25.43 | 25.43 | 800 | | 26-925-09 | 341.78 | 342.25 | 0.47 | 10.50 | 10.50 | 800 | | 26-925-11 | 348.70 | 349.00 | 0.30 | 32.51 | 32.51 | 800 | | 26-805-50 | 437.50 | 439.00 | 1.50 | 8.96 | 8.96 | 800 | | including | 438.50 | 439.00 | 0.50 | 15.20 | 15.20 | | | 26-805-49 | 465.00 | 466.00 | 1.00 | 12.23 | 12.23 | 800 | | 26-805-48 | 311.50 | 312.00 | 0.50 | 37.87 | 37.87 | 800 Area | | ERS-2026-001-W1 | 918 | 919 | 2.00 | 9.70 | 9.70 | 800 | | including | 918 | 919 | 1.00 | 19.00 | 19.00 | |

Earlier from Wesdome Gold Mines Ltd.

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