Wesdome Encouraged from S-50 Southeast Drilling Results at Kiena Mine

VAL D'OR, QC, Jan. 2, 2013 /CNW/ - Wesdome Gold Mines Ltd (TSX: WDO) is pleased to report the underground exploration drilling results at the Kiena Mine continue to provide encouraging results.  An underground exploration drilling program of the S-50 Zone at Kiena Mine was initiated during September, 2010 following a compilation which identified an unexplored area with dimensions of at least 150 m laterally by 400 m vertically toward the southeast of the gold deposit. The first phase of the drill program was designed to explore the area between the 27 and 48 levels (approx. 270 metres to 480 metres below surface). Please refer to the Press Release "Wesdome Plans Aggressive Drilling and Development Program in 2011" dated March 30, 2011, available on the website at www.wesdome.com.

Drill results demonstrate a continuity of the S-50 (South Zone) mineralized system toward the southeast and at depth with a series of steeply dipping sub-parallel zones intersected by several of the drill holes. Drill hole locations and results highlights are summarized in the following tables (Table 1 and Table 1a), (Table 2 and Table 2a), respectively.

George Mannard, Vice President - Exploration comments "We have recently developed, and are starting to mine, in the South Zone.  Particularly tantalizing are the last 3 holes in the highlights list below.  We believe further drilling in this area has potential to demonstrate continuity of above average grade mineralization with potentially economic dimensions in proximity to existing underground workings".

HIGHLIGHTS INCLUDE

• 6.01 gAu/tonne over 10.0 m (core length), 8.78 m (true width) in hole U-5454

• 5.08 gAu/tonne over 6.4 m (core length), 1.93 m (true width) in hole U-5667

• 6.61 gAu/tonne over 11.8 m (core length), 2.20 m (true width) in hole U-5402

• 3.72 gAu/tonne over 11.0 m (core length), 6.75 m (true width) in hole U-5161

• 5.28 gAu/tonne over 2.8 m (core length),  1.53 m (true width) in hole U-5529

• 4.89 gAu/tonne over 6.1 m (core length),  4.45 m (true width) in hole U-4998

• 21.07 gAu/tonne over 7.5 m (core length), 7.30 m (true width) in hole U-5454

• 10.59 gAu/tonne over 5.1 m (core length), 1.53 m (true width) in hole U-5445

• 11.40 gAu/tonne over 3.5 m (core length), 1.07 m (true width) in hole U-5411

Mineralization of the S-50 Zone consists of an albitized stockwork vein-breccia-dyke complex situated along the contact between tholeitic basalts and komatiite flows.  Historic production from the S-50 Zone has provided about 93% of the 1.7 million ounces of gold produced from 10.7 million tons to date at the Kiena mine.

TECHNICAL DISCLOSURE

The technical content of this press release has been compiled, reviewed and verified by Marc Ducharme, P.Geo. OGQ, Chief Exploration Geologist, Kiena mine in his capacity as a "Qualified Person", as per requirements of National Instrument 43-101. Assaying was done by fire assay methods at the Kiena mine assay office. In addition to internal duplicate, standards and blanks, the geology department inserts blind standards and blanks into the sample stream at a frequency of one in twenty to monitor quality control.

ABOUT WESDOME

Wesdome is celebrating its 25^th year of continuous mining operations in Canada.  It currently has three producing gold mines with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec.  The Company has 101.9 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.

Table1: SOUTH-EAST EXTENSION - DRILL HOLE LOCATIONS

Table1a: SOUTH-EAST EXTENSION - PREVIOUS DRILL HOLE LOCATIONS

Table 2: SOUTH-EAST EXTENSION - SIGNIFICANT INTERSECTIONS

Table 2a: SOUTH-EAST EXTENSION - PREVIOUS SIGNIFICANT DRILL HOLE RESULTS

SOURCE Wesdome Gold Mines Ltd.