08:01 PM EDT, 10/21/2025 (MT Newswires) -- Wesdome Gold Mines ( WDOFF ) overnight Tuesday announced that its board of directors has approved, subject to approval of the Toronto Stock Exchange the initiation of a Normal Course Issuer Bid to repurchase up to 2% of the company's public float over the next 12 months. Anthea Bath, President and Chief Executive Officer, said, "The introduction of a normal course issuer bid, subject to TSX approval, reflects the continued strength of Wesdome's balance sheet and our commitment to disciplined capital allocation. With no debt and a growing cash position, we are able to fund high-return organic growth initiatives while retaining the financial flexibility to return capital to shareholders through opportunistic share repurchases." Wesdome's board believes an NCIB represents an appropriate use of its available liquidity, after funding strategic growth initiatives, to enhance per-share value and serve the best interests of the company and its shareholders.

Separately, Wesdome announced its operating results for the three and nine months ended September 30, 2025. The company also provided notice that it will release its financial results after markets close on Tuesday, November 4, 2025. Anthea Bath, President and CEO, said: "This quarter's consolidated production of more than 50,000 ounces set a new high-water mark for Wesdome driven by record production from Eagle River."

She adds: "Eagle River had an exceptional third quarter, once again setting records for mill throughput and gold production. Benefits from ongoing efforts to debottleneck the mill, improve dilution, and increase ore availability are materializing and resulting in increased production at lower unit costs, all while advancing critical development. Eagle River is on track to deliver the high-end of full-year production guidance.

"As previously indicated, Kiena conducted a longer than planned hoist shutdown in July, which resulted in more than two weeks without mill feed. While forecasts at the time suggested that the shortfall could be recovered, inconsistent execution together with limited operational flexibility continued to impact performance through August and September. Kiena's fourth quarter is expected to be its strongest of the year, as high-grade ore from Kiena Deep is augmented by ore from Presqu'ile. Kiena's 2025 guidance will be updated with the release of our financial results in early November. Importantly, we remain on track to meet full-year consolidated production guidance, albeit toward the lower end of the range.

"With record gold prices and strong production driving substantial free cash flow, our financial position continues to grow and strengthen -- with $266 million in cash and total liquidity of more than $600 million at the end of September. This allows us to advance our organic growth initiatives while initiating a return of capital to shareholders. Accordingly, we have filed a notice of intention with the Toronto Stock Exchange to implement a normal course issuer bid for Wesdome shares."