Wesdome Gold Mines Ltd. - Wesdome announces 2007 year end reserves and resources



    TORONTO, March 18 /CNW/ - Wesdome is pleased to announce mineral reserve
and resource estimates for the year ended December 31, 2007.

    
    HIGHLIGHTS

    -  A 2-year cushion of reserves was maintained
    -  Measured and Indicated resources were maintained at last year's levels
    -  Development headings were established to drill known zones that remain
       open at depth


    RESERVES AND RE

SOURCES ------------------------------------------------------------------------- RESERVES ESTIMATES(*) December 31, 2007 Mine Category Tonnes Grade Ounces ---- -------- ------ ----- ------ (gAu/tonne) ----------- Eagle River Proven 123,000 11.5 45,500 Probable 142,000 10.2 46,500 ----------------------------------------------------------- Proven + Probable 265,000 10.8 92,000 Kiena Proven 236,900 5.2 39,600 Probable 297,800 3.9 37,300 ----------------------------------------------------------- Proven + Probable 534,700 4.5 76,900 Total 168,900 ------------------------------------------------------------------------- ------------------------------------------------------------------------- RE

SOURCES ESTIMATES(*) December 31, 2007 Mine Category Tonnes Grade Ounces ---- -------- ------ ----- ------ (gAu/tonne) ----------- Eagle River Measured 2,000 14.5 900 Indicated 83,000 7.5 20,000 ----------------------------------------------------------- Measured + Indicated 85,000 7.7 20,900 Kiena Measured 728,100 4.1 96,000 Indicated 586,100 4.2 72,100 ----------------------------------------------------------- Measured + Indicated 1,314,200 4.1 168,100 Total 189,000 ------------------------------------------------------------------------- At Eagle River resources were converted to reserves and incorporated in the mine plan. High grades encountered in the west end of the mine in zone 811 were largely responsible for replacing reserves. At the Kiena mine, work concentrated on production and development. We now have development in place to provide drilling platforms to trace known zones which remain open for expansion. (*) All Mineral Reserves and Mineral Resource estimates have been made in accordance with the Standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101. All Mineral Resources are in addition to Mineral Reserves. Mineral Resources are not in the current mine plan and therefore do not have demonstrated economic viability. As per section 4.2(ii) of National Instrument 43-101, the change in mineral reserves and resources does not constitute a material change in the affairs of the Company. For the Eagle River mine refer to the Technical Report filed on Sedar, dated December 2005, by Strathcona Mineral Services Ltd. For the Kiena mine refer to the Technical Report dated April 15, 2005, by Geologica Groupe Conseil, also filed on Sedar. Qualified Persons for the Mineral Reserves and Mineral Resources estimates as per 43-101 are as follows: Eagle River mine: George N. Mannard, P.Geo., Vice President - Exploration Kiena mine: Paul Arscott, P.Geo., Chief Mine Geologist (Kiena mine) The Company is a Producing Issuer as per NI 43-101. This release was prepared by George Mannard, P.Geo and Vice-President, Exploration in his capacity as a Qualified Person within the meaning of National Instrument 43-101. Wesdome Gold Mines Ltd. is an established Canadian gold producer with mining operations and development projects in Wawa, Ontario and Val d'Or, Quebec. The Company has 99.8 million shares issued 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, 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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