Wesdome Gold Mines (WDO) AGM 2024 summary

Opening remarks and agenda

• Meeting chaired by Warwick Morley-Jepson, with introductions of key executives and appointment of Rob Kallio as Secretary.

• Rules for hybrid meeting format and Q&A procedures were outlined, with voting instructions for both in-person and virtual attendees.

• Meeting convened on June 18, 2024, with quorum established at 66.19% of outstanding shares represented by 182 shareholders.

Board and executive committee updates

• Warwick Morley-Jepson announced he did not stand for re-election as chair, reflecting on his tenure since 2017 and the company's growth.

• Bill Washington appointed as Interim Chair while a search for a permanent Chair is underway.

• Acknowledgments given to retiring director Nadine and welcome extended to new director Jacqueline Ricci.

• Seven directors were elected for the ensuing year, with approval rates ranging from 81.92% to 97.86%.

Financial performance review

• 2023 saw Eagle River produce nearly 88,000 ounces of gold and Kiena over 35,000 ounces, both meeting or exceeding operational targets.

• Full-year consolidated production exceeded 123,000 ounces at an all-in sustaining cost of $1,683/oz, at the lower end of guidance.

• 2P reserves grew by 12%, with significant additions at Presqu'ile, Kiena Deep, and Eagle River Zone 6 Central.

• Market cap increased to nearly CAD 1.6 billion, with a 50% rise in stock price over the last 12 months.