Wesdome announces closing of private placement of flow-though shares for gross proceeds of $4,000,000

    TORONTO, Dec. 28 /CNW/ - Wesdome Gold Mines Ltd. ("Wesdome") is pleased
to announce the closing on December 28, 2007 of a non-brokered private
placement (the "Offering") of 2,657,731 common shares issued on a flow-through
basis pursuant to the Income Tax Act (Canada) (each a "Flow-Through Share") at
a price of $1.50 per Flow-Through Share. Of the 2,657,731 Flow-Through Shares
issued in the Offering, 1,599,998 were sold to the MineralFields Group, for
gross proceeds of $2,399,997. "We are very pleased that MineralFields Group
and other investors have invested in Wesdome and look forward to further
developing our projects in Wawa and Val d'Or," said Donovan Pollitt, Vice
President, Corporate Development.
    The proceeds of the Offering will be used for further development of
Wesdome's projects in Wawa, Ontario and Val d'Or, Quebec.
    Wesdome paid a 5% cash finder's fee to certain entities in connection
with the Offering.
    The Flow-Through Shares are subject to resale restrictions for a period
of four months and one day from the date of issuance and the Offering remains
subject to the final approval of the Toronto Stock Exchange.
    Wesdome Gold Mines Ltd. is an established Canadian gold producer with
mining operations and development projects in Wawa, Ontario and Val d'Or,
Quebec. It has 99.66 million shares issued and outstanding and trades on the
Toronto Stock Exchange under the symbol "WDO".

    MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about MineralFields Group is
available at www.mineralfields.com. First Canadian Securities(R), a division
of Limited Market Dealer Inc., is active in leading resource financings (both
flow-through and hard dollar PIPE financings) on competitive, effective and
service-friendly terms, with investors both within, and outside of
MineralFields Group.

    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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