Wesdome Announces Implementation of Dividend Reinvestment Plan

Toronto, Ontario--(Newsfile Corp. - August 13, 2026) - Wesdome Gold Mines Ltd. (TSX: WDO) (OTCQX: WDOFF) ("Wesdome" or the "Company") has established the previously announced dividend reinvestment plan (the "DRIP"), effective as of August 12, 2026. Participation in the DRIP is optional and will not affect shareholders' receipt of any future cash dividends unless they elect to participate.

The DRIP will provide eligible shareholders with the opportunity to automatically reinvest all or a portion of the cash dividends declared on their common shares into additional common shares (the "Plan Shares") of the Company, without paying any commission, service charges or brokerage fees (subject to, in the case of beneficial shareholders, any applicable intermediary fees). Plan Shares will be purchased by the Company's agent, Computershare Trust Company of Canada (the "Agent") on the Canadian open market including through the facilities of the Toronto Stock Exchange. No Plan Shares will be issued from treasury under the DRIP. Subject to applicable laws and the terms of the DRIP, shareholders resident in Canada and certain other jurisdictions may be eligible to participate in the DRIP.

The board of directors of the Company previously declared an inaugural quarterly cash dividend of $0.0306 per common share, payable on September 29, 2026 to shareholders of record on September 15, 2026. Eligible shareholders may elect to participate in the DRIP in connection with such dividend.

To participate in the DRIP, registered shareholders must deliver a properly completed enrolment form to the Agent at least five (5) business days before a dividend record date.

For the dividend payable on September 29, 2026, registered shareholders must deliver a completed enrolment form to the Agent no later than 5:00 p.m. (Toronto time) on September 8, 2026. Enrolment forms may be obtained from the Agent by calling +1 (800) 564-6253 (North America) or +1 (514) 982-7555 (outside North America), or online at www.investorcentre.com/service.

Beneficial shareholders who wish to participate in the DRIP should contact their financial advisor, broker, investment dealer, bank, financial institution or other intermediary through which they hold their common shares regarding enrolment procedures, applicable fees and deadlines, and whether participation elections must be made for each dividend period.

Shareholders are also encouraged to consult their tax advisors concerning the tax implications of their participation in the DRIP. Participation in the DRIP does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested into Plan Shares.

A complete copy of the DRIP will be available on Wesdome's issuer profile on SEDAR+ at www.sedarplus.ca and on the Agent's website at www.investorcentre.com. The enrolment form will be mailed to registered shareholders and may be obtained from the Agent at any time by contacting the Agent or by enrolling online through the Agent's website at www.investorcentre.com. Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP.

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 its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier Canadian gold producer.

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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 or information with respect to: the implementation of the DRIP, including the anticipated timeline; shareholder participation in the DRIP; the provision of DRIP related documents to shareholders; the Company's dividend policy and management's intention to provide a dividend on a quarterly basis; the Company's commitment to capital return initiatives while maintaining investment in organic growth initiatives; and the Company's long-term outlook and future free cash flow generation.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309599