Wesdome Announces Results of Annual General Meeting and Issues 2020 ESG Report

TORONTO, June 01, 2021 (GLOBE NEWSWIRE) — Wesdome Gold Mines Ltd. (TSX: WDO) (the “Firm”) publicizes the outcomes of the Firm’s 2021 annual common assembly of shareholders (the “Assembly”) held by means of reside webcast earlier right this moment. A replay of the Assembly is accessible on the Firm’s web site.

A complete of 82,475,962 widespread shares had been represented on the Assembly, representing 59.05% of the overall issued and excellent widespread shares of the Firm.

All issues offered for shareholder approval on the Assembly had been permitted, as follows:

Election of Administrators

The next seven people had been elected as administrators of the Firm, till the subsequent annual assembly of shareholders, as set out within the desk under:

Re-Appointment of
Auditors

Primarily based on proxies obtained and votes solid by present of arms throughout the Assembly, Grant Thornton LLP, Chartered Accountants, had been appointed as impartial auditors of the Firm for the following 12 months and the administrators are approved to repair their remuneration, with the next outcomes:

Advisory Vote on Government Compensation

Primarily based on proxies obtained and votes solid by poll throughout the Assembly, the advisory non-binding decision accepting the strategy to government compensation disclosed within the Administration Info Round of the Company dated April 19, 2021 was permitted, with the next vote end result:

Please consult with the Firm’s Report of Voting Outcomes filed on SEDAR at www.sedar.com for additional particulars on the above issues.

2020 ESG REPORT
The Firm can also be happy to announce that it has issued its second annual Environmental, Social, and Governance (“ESG”) Report, which supplies an summary of the corporate’s ESG methods, insurance policies, commitments, and 2020 efficiency.

Highlights from the report embody:

• Zero confirmed circumstances of COVID-19 throughout the Firm
• Native procurement expenditures completely $56 million, representing 36% of the overall procurement expenditures from Eagle River Advanced and Kiena Advanced
• Completion of an ESG materiality evaluation to tell key ESG components for the Firm
• Additional alignment with the Sustainability Accounting Requirements Board reporting commonplace for Metals & Mining

“Regardless of 2020 presenting us all with distinctive and surprising challenges, it was additionally a 12 months the place Wesdome was capable of make important strides ahead in our ESG journey,” stated Mr. Duncan Middlemiss, President and CEO. “Throughout the Firm, we’re within the course of of creating a brand new framework of techniques, insurance policies and procedures to create and assist a company-wide tradition of sustainability. Our 2020 ESG report outlines the progress we have now made during the last 12 months, which can proceed to construct on in years to return. As Wesdome continues ahead on the trail to development, we’re dedicated to constructing the inspiration for sustainable success.”

ABOUT WESDOME
Wesdome has had over 30 years of steady gold mining operations in Canada. The Firm is 100% Canadian targeted with a pipeline of initiatives in varied levels of improvement. The Firm’s technique is to construct Canada’s subsequent intermediate gold producer, producing 200,000+ ounces from two mines in Ontario and Québec. The Eagle River Underground Mine in Wawa, Ontario is at the moment producing gold at a price of 92,000 – 105,000 ounces per 12 months. Wesdome is actively exploring its brownfields asset, the Kiena Advanced in Val d’Or, Québec. The Kiena Advanced is a totally permitted former mine with a 930-metre shaft and a couple of,000 tonne-per-day mill, and a restart of operations was introduced on Could 26, 2021. The Firm has accomplished a PFS in assist of the manufacturing restart resolution. The Firm additionally retains significant publicity to the Moss Lake gold deposit, situated 100 kilometres west of Thunder Bay, Ontario by its fairness place in Goldshore Assets Inc. The Firm has roughly 139.7 million shares issued and excellent and trades on the Toronto Inventory Trade below the image “WDO”.

COVID-19
The well being and security of our workers, contractors, distributors, and consultants is the Firm’s high precedence. In response to the COVID-19 outbreak, Wesdome has adopted all public well being tips concerning security measures and protocols in any respect of its mine operations and company places of work. As well as, our inner COVID-19 Taskforce continues to observe developments and implement insurance policies and applications meant to guard those that are engaged in enterprise with the Firm.

By way of care and planning, thus far the Firm has efficiently maintained operations, nonetheless there may be no assurance that this may proceed regardless of our greatest efforts. Future circumstances might warrant decreased or suspended manufacturing and / or challenge actions which might negatively influence our capacity to take care of projected timelines and targets. Consequently, the Firm’s precise future manufacturing and manufacturing steerage is topic to greater ranges of threat than ordinary. We’re persevering with to carefully monitor the scenario and can present updates as they turn out to be accessible.

The potential influence of COVID-19 or different dangers haven’t been included within the financials of the challenge. A abstract of dangers shall be included within the technical stories to be posted on SEDAR.

For additional info, please contact:

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