Eagle River Complex Mineral Reserves

Mine Category Tonnes (‘000s) Grade (gAu/tonne) Contained Ounces
Eagle River  Proven 370 12.6 150,000
Probable 982 13.7 431,000
Proven + Probable 1,352 13.4 581,000
Mishi  Proven 52 2.5 4,200
Probable 50 3.4 5,500
Proven + Probable 102 3.0 9,700

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Eagle River Complex Mineral Resources

Mine Category Tonnes
(‘000s)
Grade (gAu/tonne) Contained Ounces
Eagle River Measured 23 12.1 9,000
Indicated 320 9.0 93,000
Measured + Indicated 343 9.2 102,000
Inferred 510 12.5 205,000
Mishi Open Pit  Indicated - - -
Inferred 2,808 1.6 147,000
Mishi Underground  Indicated - - -
Inferred 373 5.4 65,000
Mishi Total Indicated - - -
Inferred 3,182 2.1 212,000

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Eagle River Proven and Probable Reserve Breakdown by Zone1

The following table provides a breakdown of Mineral Reserves and Resources at Eagle River by structure to illustrate the growing significance of these recent developments.
Zone Tonnes
(‘000s)
Grade
(g/t Au)
Contained Ounces Percent
No. 300 756 14.9 362,000 62
No. 7 394 12.6 160,000 28
No. 8 111 10.7 38,000 7
Other 91 7.2 21,000 3
TOTAL 1,352 13.4 581,000 100

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  1. Reported at 5.43 g/t Au cut off at the Eagle River Mine
  2. Numbers reflect rounding to nearest 1,000 tonnes and ounces.
  3. Mineral Resources are exclusive of reserves.
  4. Mineral Resources are not in the current mine plan and therefore do not have demonstrated economic viability.
  5. All Mineral Reserves and Mineral Resources estimates have been made in accordance with the Standards of the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) and NI 43-101 and assume a gold price of $2,047 (US$1,599) per ounce for the reserves and a gold price of $2,191 (US$1,712) per ounce for the resources, with a $1 USD → CAD exchange rate of $1.28).
  6. Mineral Resources are reported in-situ with no dilution provision.
  7. A density or tonnage factor of 2.7 tonnes per cubic m (t/m3) is applied at both Eagle River Mine and Mishi Mine.
  8. At Eagle River Mine, all high assays are cut to either 60.0 – 140.0 g/t Au for individual zones.
  9. All Mineral Reserves at Eagle River employ a 1.5 m minimum width, a 3.0 g/t Au minimum grade for continuity and include 1.0 m of external dilution and 10% lost ore and metallurgical recoveries of 97.0%.
  10. At Mishi the 7 lenses considered in the Mineral Resource calculations are cut between 6.0 to 45.0 g/t Au.  All high blasthole assays are cut to 10 g/t Au.
  11. All In-Pit Mineral Reserves at Mishi employ a 1.0 g/t cut-off grade and a 3.0 m minimum width. Estimates provide for 10% dilution, 10% lost ore and metallurgical recoveries of 83%.
  12. Mishi Mineral Reserves currently have a life of mine stripping ratio of 13.0 tonnes of waste per tonne of ore.
  13. Mishi In-Pit Mineral Resources extend to a depth of 110.0 m, employing a 0.5 g/t cut-off grade, a 3.0 m minimum width and are reported in-situ with no dilution or lost ore provisions.
  14. Mishi Underground Mineral Resources are reported in-situ employing a 3.0 g/t cut-off grade and a 1.5 m minimum mining width.
  15. Qualified Persons for the Mineral Reserves and Mineral Resources estimates as per NI 43-101 include Marc-André Pelletier P. Eng, COO, and Michael Michaud, P.Geo., VP Exploration of Wesdome.

Technical Disclosure

The technical content of this release has been compiled, reviewed and approved by Marc-André Pelletier, P. Eng, Chief Operating Officer, and Michael Michaud, P.Geo., Vice President, Exploration of the Company and each a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects.

Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources

The mineral reserve and resource estimates reported in this news release were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by Canadian securities regulatory authorities. The United States Securities and Exchange.

Wesdome Gold Mines Ltd.
Summarized Operating and Financial Data
(Unaudited, expressed in thousands of Canadian dollars, except per share and per unit amounts and otherwise indicated)

Kiena Complex Resource Estimates as of December 15, 2020

Kiena Complex Mineral Resource Estimate by Area (2.8 g/t Au cut-off)
Area Indicated Inferred
Tonnes Gold Grade
(g/t)
Gold
Ounces
Tonnes Gold Grade
(g/t)
Gold
Ounces
Kiena Deep 1,279,400 17.5 719,9600 325,700 11.5 120,400
S50 146,600 4.5 21,400 100,000 3.7 12,000
VC 137,700 4.8 21,200 169,500 5.3 28,600
ZB - - - 74,000 4.1 9,800
South Zones 63,200 4.2 8,400 211,900 3.9 26,700
Presquile - - - 255,600 6.7 55,100
Dubuisson - - - 744,600 6.7 160,200
Martin 163,100 4.8 25,000 109,100 4.3 15,000
North West - - - 285,800 4.0 37,100
Wesdome* - - - 1,129,400 5.3 191,400
TOTAL 1,789,900 13.8 795,900 3,405,600 6.0 656,200

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  1. These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
  2. The mineral resource estimate follows CIM definitions and guidelines for mineral resources.
  3. Results are presented in situ and undiluted and considered to have reasonable prospects for economic extraction, below 100m crown pillar.
  4. The estimation combined two (2) estimation methods, ordinary kriging in the Kiena Complex and polygonal for other deposits on the property.
  5. The Kiena Complex resources encompasses for 20 zones with a minimum true thickness of 3.0 m using the grade of the adjacent material when assayed or a value of zero when not assayed. High-grade capping varies from 20 to 200g/t Au (when required) was applied to composited assay grades for interpolation using an Ordinary Kriging interpolation method based on 1.0 m composite and block size of 5 m x 5 m x 5 m, with bulk density values of 2.8 (g/cm3). In addition, a high grade limit or second capping value was used for the second and third pass grade interpolation to restrict high grade impact at greater distance from the drill hole intersect. Indicated resources are manually defined and encloses areas where drill spacing is generally less than 25 metres, blocks are informed by a minimum of three drill holes, and reasonable geological and grade continuity is shown.
  6. The zone outside the Kiena Complex encompasses for eight (8) zones with a minimum true thickness of 1.5 metre using a polygonal estimation method. Indicated resources were estimated from drill hole results using the mid distance between drill hole or a maximum of 30 metres, 12.5 metres in some areas. The high-grade capping was fixed at 34.28 g/t Au with a bulk density values of 2.8 (g/cm3).
  7. The estimate is reported for potential underground scenario at cut-off grades of 3.0 g/t Au (> 40° dip) and 4.0 g/t Au (< 40° dip, Wesdome Zone). The cut-off grades were calculated using a gold price of US$1,300 per ounce, a CAD:USD exchange rate of 1.31 (CAD$1,700); mining cost $110/t (> 40° dip); $150/t (< 40° dip); processing cost $35/t; G&A $15/t. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rate, mining cost, etc.).
  8. The number of metric tons and ounces were rounded to the nearest hundred and the metal contents are presented in troy ounces (tonne x grade / 31.10348).
  9. The QP is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in this Technical Report that could materially affect the mineral resource estimate.

The updated block model mineral resource estimate, proximal to Kiena Mine Development, was prepared by  Karine Brousseau P.Eng. (OIQ #121871), Senior Engineer – Mineral Resources of the Company and a "Qualified Person" as defined in NI-43-101.The mineral resource estimate has been reviewed and audited by BBA Consulting, Toronto, Ontario. Pierre-Luc Richard P.Geo. (OGQ #1119) of BBA Consulting, is a "Qualified Persons" for the resource estimate as defined in NI-43-101 and is considered to be “independent” of Wesdome for purposes of NI-43-101.

Moss Lake Property Mineral Resources

Mine Category Tonnes Grade (gAu/tonne) Gold Ounces
Moss Lake M + I 39,795,000 1.1 1,377,000
Inferred 50,364,000 1.1 1,751,000

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  1. The Independent and Qualified Persons for the Mineral Resource Estimate, as defined by NI 43-101, are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the estimate is February 8, 2013.
  2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.
  3. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts.
  4. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade.
  5. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500.
  6. A fixed density of 2.78 g/cm3 was used.                 
  7. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed.               
  8. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit.   
  9. Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m.
  10. The number of metric tons was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in Regulation 43-101.
  11. The pitshell used for the resource estimate extends slightly beyond the property limits in its northeastern portion. Although the entire resource lies within the property limits, some waste material outside the property limits will need to be removed to access some of the resource. Consequently, this portion of the pit may need to be re-considered in a future economic study.
  12. InnovExplo is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues or any other relevant issue that could materially affect the Mineral Resource Estimate.

The contents of this page have been verified and approved by Marc-Andre Pelletier, P. Eng, Chief Operating Officer, and Michael Michaud, P.Geo., Vice President, Exploration of the Company and each is a "Qualified Person" as defined in National Instrument 43-101 -Standards of Disclosure for Mineral Projects. Please refer to Company AIF available on the Company’s website and sedar.com