WESDOME ANNOUNCES TEMPORARY SUSPENSION OF ACTIVITIES IN QUEBEC
25 March 2020 - 5:20AM
Wesdome Gold Mines Ltd. (TSX: WDO) (“Wesdome” or the “Company”)
would like to inform all stakeholders that in accordance with the
Government of Quebec’s order to close non-essential services until
April 13, 2020, the Company is temporarily suspending exploration
and development activities at its Kiena Complex in Val d’Or,
Quebec. A small crew of essential employees will remain on site to
provide security and other necessary services.
Mr. Duncan Middlemiss, President and CEO stated, “The health and
safety of the community, our employees and contractors are our
first priorities, and we are committed to supporting all health
recommendations and orders as it relates to the COVID-19 pandemic.
To date, there have been no suspected COVID-19 cases at the
Company. Suspension of Kiena activities will not impact the
timing of the PEA, which remains on track to be completed in Q2
2020. We look forward to resuming our exploration activities as
soon as possible once this public threat has subsided.”
ABOUT WESDOMEWesdome Gold Mines
has had over 30 years of continuous gold mining operations in
Canada. The Company is 100% Canadian focused with a pipeline
of projects in various stages of development. The Eagle River
Complex in Wawa, Ontario is currently producing gold from two
mines, the Eagle River Underground Mine and the Mishi Open pit,
from a central mill. Wesdome is actively exploring its
brownfields asset, the Kiena Complex in Val d’Or, Quebec. The
Kiena Complex is a fully permitted former mine with a 930 metre
shaft and 2,000 tonne per day mill. The Company has further
upside at its Moss Lake gold deposit, located 100 kilometres west
of Thunder Bay, Ontario, which is being explored and evaluated to
be developed in the appropriate gold price environment. The
Company has approximately 138.2 million shares issued and
outstanding and trades on the Toronto Stock Exchange under the
symbol “WDO.”
For further information, please
contact:
Duncan MiddlemissPresident and CEO416-360-3743 ext.
2029duncan.middlemiss@wesdome.com |
or |
Lindsay Carpenter DunlopVP Investor Relations416-360-3743
ext. 2025lindsay.dunlop@wesdome.com |
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220 Bay Street, Suite 1200Toronto, ON, M5J 2W4Toll Free:
1-866-4-WDO-TSXPhone: 416-360-3743, Fax:
416-360-7620Website: www.wesdome.com |
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This news release contains “forward-looking information” which
may include, but is not limited to, statements with respect to the
future financial or operating performance of the Company and its
projects. 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. 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. The Company has included in this news release certain
non-IFRS performance measures, including, but not limited to, mine
operating profit, mining and processing costs and cash costs. Cash
costs per ounce reflect actual mine operating costs incurred during
the fiscal period divided by the number of ounces produced.
These measures are not defined under IFRS and therefore should not
be considered in isolation or as an alternative to or more
meaningful than, net income (loss) or cash flow from operating
activities as determined in accordance with IFRS as an indicator of
our financial performance or liquidity. The Company believes that,
in addition to conventional measures prepared in accordance with
IFRS, certain investors use this information to evaluate the
Company's performance and ability to generate cash flow.
PDF
available: http://ml.globenewswire.com/Resource/Download/4220574c-1aad-4316-85f7-5aa7928906b5
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