Wesdome Reports Record Quarterly EPS and Free Cash Flow for Q1 2026; Reaffirms 2026 Guidance

About this update from Wesdome Gold Mines Ltd.

Toronto, Ontario--(Newsfile Corp. - May 12, 2026) - Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF) ("Wesdome" or the "Company") today announced its financial results for the three months ended March 31, 2026 ("Q1 2026"). Preliminary operating results for Q1 2026 were disclosed in the Company's press release dated April 14, 2026. Management will host a webcast tomorrow morning, May 13, 2026 at 10:00 a.m. ET to discuss its results. All amounts are expressed in Canadian dollars unless otherwise indicated. Q1 2026 Highlights Anthea Bath, President and Chief Executive Officer, commented: "The year is off to a solid start, underpinned by disciplined execution, demonstrated performance improvements at Kiena, and a strong gold price environment that is translating into significant margin expansion per ounce. While cost pressures are becoming an industry-wide focus, we have identified targeted initiatives across areas such as procurement and productivity that are expected to moderate unit costs in the second half of the year. We are well positioned to deliver on our 2026 guidance. "Eagle River continued to demonstrate consistent operational performance in the first quarter, with mill throughput averaging nearly 800 tonnes per day, supported by strong stope productivity, enhanced maintenance practices, and improved mobile fleet availability. Capital expenditures during the quarter were at their lowest point for the year, with investment expected to accelerate and peak in the third quarter as we advance planned improvements to camp and site infrastructure, reinforcing our long-term commitment to this cornerstone asset. "Kiena is turning a corner. Last year's initiatives undertaken to improve operational flexibility together with implementation of our new operating model are delivering measurable results by reducing unplanned delays and allowing us to mine multiple stopes concurrently. The first quarter ended on a strong note, and that momentum accelerated into April with production for the month exceeding 7,000 ounces. With the Presqu'île permit now in hand, high-grade ore is already being stockpiled, and we are pushing development rates higher. We remain firmly on track to drive meaningful growth in tonnage in the second half of the year. "The first quarter marked another strong period for the Company...

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