Wesdome Announces Eagle River Complex Drilling Update; 300W Zone Extended up, Mishi Deposit Extended West

TORONTO, ON--(Marketwired - April 27, 2017) - Wesdome Gold Mines Ltd. (TSX: WDO) ("Wesdome" or the "Company") is pleased to update drilling results from its Eagle River and Mishi gold mines, Wawa, Ontario.

EAGLE RIVER MINE

Recent underground drilling results have extended the 300W Zone 250 metres above the 942 metre level drift which averaged 16.54 g/t (cut to 140 g/t) over a length of 141.0 metres with an average width of 1.61 metres. Highlights include^*:

• Hole 890-E-63 21.20 g/t over 2.17 m true width
• Hole 890-E-65 28.59 g/t over 2.11 m true width
• Hole 890-E-66 18.09 g/t over 2.26 m true width
• Hole 890-E-82 12.57 g/t over 5.75 m true width

* high assays are cut to 140 g/t

Detailed results are compiled in Table 1 and illustrated in Figure 1.

The 300 Zone is a recently recognized structure located 300-400 metres north of the main 8 Zone structure which has provided the bulk of the Eagle River Mines' production over the last 20 years.

It consists of 2 areas, 300W and 300E (Figure 1). The 300W area is typified by a steeply dipping, tabular, shear hosted quartz vein.

The 300E area consists of a series of tabular to pipe-like quartz vein systems. To date, at least 4 separate subzones have been partially delineated. We are currently developing some large widths and strong grades on the 844 metre level (Figure 1). This development ore contributed to strong grades realized in the first quarter, 2017. Drilling results previously released January 26, 2017, included^*:

• Hole 844-E-26 5.86 g/t over 8.88 m true width
• Hole 844-E-27 19.03 g/t over 20.67 m true width
• Hole 844-E-28 13.36 g/t over 17.94 m true width
• Hole 844-E-29 24.60 g/t over 3.93 m true width
• Hole 670-131 10.35 g/t over 4.43 m true width

* high assays cut to 140 g/t

These zones remain open. As we develop these areas and confirm their dimensions, grade and continuity, we are gaining confidence in their potential to significantly contribute to Eagle River's production and mine life.

Mr. Duncan Middlemiss, President and CEO commented, "These results bode well for diversifying production locations above existing development. Recent success in both the 300E and 300W areas enhance opportunities to bring above average grades into the mine sequence over the short to medium term."

MISHI MINE - SURFACE DRILLING

Drilling commenced in January, 2017, with 2 drills. The purpose of the drilling is to define and delineate potential resources 600 metres and 1,700 metres west of current open pit mining operations (Figure 2).

600 m west of the pit, drilling has successfully traced mineralization at 25 metre spacing for an additional 300 metres. Highlights include^*:

Section

• 3000E 1.95 g/t over 29.8 m true width BC17-191
• 2975E 3.42 g/t over 7.3 m true width BC17-188
• 2950E 1.49 g/t over 21.0 m true width BC17-128
• 2925E 3.08 g/t over 15.5 m true width BC17-119
• 2925E 2.73 g/t over 10.5 m true width BC16-02
• 2900E 3.48 g/t over 17.7 m true width BC17-113
• 2875E 2.14 g/t over 22.1 m true width BC16-10
• 2850E 1.54 g/t over 27.6 m true width BC17-147
• 2825E 1.91 g/t over 12.3 m true width BC17-139
• 2800E 1.22 g/t over 18.9 m true width BC16-13
• 2775E 2.52 g/t over 18.8 m true width BC17-172
• 2750E 2.38 g/t over 11.9 m true width BC17-178
• 2725E 1.92 g/t over 8.6 m true width BC17-199

* high assays cut to 45 g/t

Drilling to date is summarized in Table 2 and illustrated in Figure 2.

Drilling 1,700 metres west of the pit is designed to delineate mineralization at 50 metre centres peripheral to hole BC16-80 which was drilled in 2016 and encountered 4.28 g/t over 13.5 m true width on section 1700E. Drilling results here are at an early stage. Initial results indicate wide, near-surface, low grade, disseminated mineralization. Initial results include^*:

Section

• 1650E 0.60 g/t over 31.3 m true width BC17-164
• 1700E 1.89 g/t over 32.9 m true width BC17-151
• 1750E 1.10 g/t over 31.6 m true width BC170157

Mr. Middlemiss concluded, "We are aggressively drilling an additional 1.5 kilometre length of the Mishi gold deposit. The purpose of the drill program is to expand resources, and results will enable us to assess long term growth potential at the Eagle River Complex."

Mineralization at Mishi consists of a series of tabular sericite-ankerite alteration zones carrying fine disseminated pyrite and 10% smokey quartz veinlets and lenses. It strikes east-west, dips 40 degrees north and follows a deformed regional volcanic-sedimentary rock contact. To date detailed drilling to assess resource potential has been completed over a 1.6 kilometre length.

TECHNICAL DISCLOSURE

All assays are performed by fire assay on 25 gram aliquots at the Eagle River Mine assay office. Duplicates, replicates and blanks are routinely employed to monitor quality control. The technical content of this release has been compiled, reviewed and approved by George N. Mannard, P.Geo, Vice-President Exploration and "Qualified Person" as defined and required by National Instrument 43-101 "Standards of Disclosure".

ABOUT WESDOME

Wesdome Gold Mines is in its 30^th 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 in 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 Kiena Complex is a fully permitted former mine with a 930 metre shaft and 2,000 tonne per day mill. The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario, which is being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 133 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO."

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements 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.

TABLE 1

Table 2 - List of Significant Drilling Results - Mishi

Image Available: http://www.marketwire.com/library/MwGo/2017/4/27/11G137182/Images/revapr27Zone_300_Press_Release_Number_Change_April-d2e57cefe177921da869870f3826e968.jpg
Image Available: http://www.marketwire.com/library/MwGo/2017/4/27/11G137182/Images/apr27Fig2_Mishi_West_DDH_Section_2925E-2d460ded3394a4eea39dad207ba7c23e.jpg
Image Available: http://www.marketwire.com/library/MwGo/2017/4/27/11G137182/Images/apr27Fig3_Mishi_Surface_DDH_Planview3-ad269a6138c49e65a254d1e39ae540e0.jpg