Wesdome Gold Mines Ltd. - Mishi Drill Results Indicate Much Larger Mineralized System

WAWA, ON, March 1 /CNW/ - Wesdome Gold Mines Ltd. (WDO-TSX) is pleased to release encouraging results from its 2010 Mishi exploration drilling program. The 100% owned Mishi project is located 50 km west of Wawa, Ontario and 2.0 km west of the Company's Eagle River Mill.

Drilling 500 metres east of the existing pit demonstrates broad zones of low grade gold mineralization which demonstrate good continuity. Compilation of limited previous drilling east of the pit likewise demonstrates broad zones of low grade mineralization with reasonable continuity when a 0.5 gAu/tonne cut-off grade is applied.

The Mishi pit is currently under development targeting a 5-year mine life to provide incremental millfeed to the existing milling operation (see Press Release dated Nov. 29, 2010 at www.wesdome.com). Proven and probable reserves are part of a much larger mineral resource estimate developed employing a cut-off grade of 1.0 gAu/tonne.

Wesdome's strategy is to progressively examine the potential for both a future underground conversion scenario and the large tonnage-low grade potential of the Mishi mineralized system. This will be accomplished with systematic shallow drilling both east and west of the pit where the mineralization remains open and incorporation of these results into new resource models employing a lower cut-off grade. A drilling program totalling 10,000 metres is planned for 2011 to systematically test the eastern strike potential and provide preliminary testing of the western strike potential, including 5,000 metres for in-pit grade control in the hanging wall.

Management is encouraged by these results and the potential the property offers is to be evaluated for the first time as a possible large tonnage-low grade standalone operating scenario.

All assays are performed at the Eagle River mine assay office by fire assay on 25 gram sample aliquots. Duplicates, replicates, blanks and standards are routinely incorporated into the sample stream to monitor quality control. The exploration team adds a blank, a standard and a duplicate for every batch of 20 samples. Duplicates are analyzed at Techni-Lab laboratories in Ste-Germaine-de-Boulé in Québec. George Mannard, P.Geo. and Vice President Exploration, Wesdome Gold Mines Ltd. is the "Qualified Person" responsible for the technical content of this Press Release as required by National Instrument 43-101.


ABOUT WESDOME

Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.2 million ounces. The Company has 101.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".



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.



For further information:

Donovan Pollitt, P.Eng., CFA
President & CEO
416-360-3743 ext 25
or
George Mannard, P.Geo.
Vice President, Exploration
416-360-3743 ext 22

8 King St. East, Suite 1305
Toronto, ON, M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: invest@wesdome.com, Website: www.wesdome.com