Wesdome Gold Mines Ltd. - Encouraging new gold find in Val-d'Or



    VAL-D'OR, QC, Oct. 14 /CNW/ - An encouraging new gold find in a
previously unexplored portion of the Val-d'Or mining camp has geologists at
Wesdome Gold Mines Ltd. excited. The new find is located three kilometres east
of Wesdome's Kiena Gold Mine and three kilometres north of Agnico-Eagle's new
Goldex Mine. Please refer to Figure 1 for a location map.
    Initial encouragement came from a barge-mounted drilling program designed
to systematically evaluate under-explored regions beneath Lac DeMontigny when
hole S-507 encountered two 0.6 metre intervals grading 21.22gAu/tonne and
12.61gAu/tonne. Hole S-510, located 1.4 kilometres to the southeast,
encountered a 5.1 metre long interval grading 4.45gAu/tonne. Hole S-523 was
drilled 100 metres northwest of S-510 and returned 3.91gAu/tonne over 
1.6 metres. Hole S-524 was drilled 100 metres southeast of S510 and returned
6.82gAu/tonne over 7.7 metres.

    
    DRILL HOLE LOCATIONS
    -------------------------------------------------------------------------
    Hole No.      Easting      Northing      Azimuth      Dip      Depth
                   (UTM)        (UTM)       (degrees)  (degrees)  (metres)
    -------------------------------------------------------------------------
     S-507         285283       5334753        213        -53        501
    -------------------------------------------------------------------------
     S-510         286114       5333672        210        -54        495
    -------------------------------------------------------------------------
     S-522         286060       5333591        205        -46        399
    -------------------------------------------------------------------------
     S-523         285990       5333658        216        -52        410
    -------------------------------------------------------------------------
     S-524         286153       5333541        203        -50        465
    -------------------------------------------------------------------------
     S-527         286153       5333541        215        -61        485
    -------------------------------------------------------------------------
     S-528         286025       5333713        210        -50        501
    -------------------------------------------------------------------------

    SIGNIFICANT INTERSECTIONS
    -------------------------------------------------------------------------
    Hole No.        From           To      Core length    Assay    Remarks
                  (metres)      (metres)    (metres)   (gAu/tonne)
    -------------------------------------------------------------------------
     S-507          321.9         322.5        0.6        21.22
    -------------------------------------------------------------------------
                    347.9         348.5        0.6        12.61
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-510          243.4         244.6        1.2         7.92
    -------------------------------------------------------------------------
                    409.9         410.4        0.5         8.42
    -------------------------------------------------------------------------
                    419.1         420.9        1.8         5.92
    -------------------------------------------------------------------------
                    450.0         455.1        5.1         4.45
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-522                                                     In progress
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-523          110.0         111.6        1.6         3.91
    -------------------------------------------------------------------------
                    129.9         132.6        2.7         1.58
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-524          357.3         365.0        7.7         6.82
    -------------------------------------------------------------------------
       inc.         359.1         364.0        4.9         9.32
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-527                                                     In progress
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
     S-528                                                     In progress
    -------------------------------------------------------------------------
    

    Gold occurs in quartz vein stockworks in albitized diorite hosted by
komatiitic volcanic rocks.
    Wesdome's exploration chief, George Mannard, cautions it is still early
days and much more work is required to substantiate the new find and determine
its ultimate size. "People have been mining gold here since 1929 and it is
remarkable the region continues to reveal new secrets. We are currently
rushing to drill more holes before the ice comes. This will help unravel the
geometry and dimensions of the new find."
    Technical information in this press release was compiled and verified by
Paul Arscott, PGeo and Chief Geologist, Kiena mine, and Marc Ducharme, PGeo
and Exploration Geologist in their capacity as "Qualified Persons" as per
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.
    Wesdome is an established Canadian gold producer with wholly-owned mining
and milling complexes located in Val d'Or, Quebec and Wawa, Ontario. It has
been producing gold continually for 20 years on an unhedged basis and to date
has produced in excess of 1.0 million ounces. The Company has 99.7 million
shares issued and outstanding and trades on the TSX 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:

For further information: Rowland Uloth, President, Donovan Pollitt,
P.Eng., VP Corporate Development, 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

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