Wesdome Gold Mines Appoints Philip C. Yee as an Independent Director and Audit Committee Chair

TORONTO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today announces the appointment of Mr. Philip C. Yee to its Board of Directors effective October 7, 2024. With Mr. Yee’s appointment, the Wesdome Board will be comprised of seven members, including six independent directors.

“We are honored to welcome Phil as an Independent Director and Chair of the Audit Committee,” said Bill Washington, Interim Board Chair of Wesdome. “He is an experienced senior financial executive with a deep knowledge of the gold mining industry. He brings a track record of results-driven leadership, strategic insight and financial expertise and will be a key asset as we continue to advance our strategic growth plan and create shareholder value.”

Mr. Yee is a Chartered Professional Accountant (CPA, CA) and previously served as Executive Vice President and Chief Financial Officer of Eldorado Gold Corporation, where he managed Eldorado's financial, investor relations, IT and risk strategy, short- and long-term planning and analysis, accounting and financial reporting, taxation and treasury functions. He was also responsible for leading transactions and financing initiatives. Prior to Eldorado, Mr. Yee held key roles at several major gold companies, including Executive Vice President and Chief Financial Officer at Kirkland Lake Gold Inc from 2016 to 2018 and Senior Vice President and Chief Financial Officer at Lake Shore Gold Corp from 2013 to 2016, during a period of rapid growth for both companies. Mr. Yee was also Chief Financial Officer at Patagonia Gold Plc and held several senior finance positions at Cameco Corporation and Centerra Gold Inc. He graduated from the University of Saskatchewan with a Bachelor of Commerce (Accounting and Finance) and obtained his ICD.D designation from the Rotman School of Business, University of Toronto.

About Wesdome

Wesdome is a Canadian-focused gold producer with two high grade underground assets, the Eagle River mine in Ontario and the 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.

For further information, please contact:

Raj Gill, SVP, Corporate Development & Investor Relations

Trish Moran, VP, Investor Relations

Phone: +1 (416) 360-3743

E-Mail:

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Forward Looking Statements

This news release contains “forward-looking information” which involve a number of risks and uncertainties. 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.

Forward-looking statements or information contained in this press release include, but are not limited to, statements or information with respect to the Company’s strategic plan of growth and creation of shareholder value. Forward-looking statements and forward-looking information by their nature are based on assumptions and 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 such forward-looking statements or information.

We have made certain assumptions about the forward-looking statements and information, including assumptions around economic parameters relating to our mineral reserves and mineral resource estimates described herein. Even though management believes that the assumptions made, and the expectations represented by such statements or information, are reasonable in the circumstances, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond the Company’s control.

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.

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