Building Canada’s Next Mid-Tier

Gold Producer

October 2018

TSX:WDO | 2

Cautionary StatementsForward-Looking Information

This presentation contains statements or information concerning the business, operations and financial performance and condition of

Wesdome Gold Mines Ltd. (“Wesdome” or the “Company”) which constitute forward-looking statements or information (collectively,

“forward-looking statements”) within the meaning of applicable Canadian securities legislation. Forward-looking statements relate to

future events or the anticipated performance the Company and reflect management’s expectations or beliefs regarding such future

events and anticipated performance as of the date of this presentation. Forward-looking statements include, but are not limited to,

statements with respect to the timing and amount of future production, costs of production, targeted cost reductions, capital

expenditures, the success of exploration activities, permitting time lines, government regulation of mining operations, the future price

of gold and other minerals, and the timing and issuance of permits. Generally, forward-looking information can be identified by the use

of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” and

variations of such words and phrases or statements that certain actions, events, or results “may”, “could”, “would”, “might”, or “will”,

“occur” or “be achieved” or the negative connotation thereof.

By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific,

that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These

risks and uncertainties include, but are not limited to, fluctuations in prices of commodities, fluctuations in currency markets, actual

results of additional exploration and development activities at the Company’s projects, the timing and amount of estimated future

production and the costs thereof, capital expenditures, the availability of any additional capital required to bring future projects into

production, the failure of plant, equipment or processes to operate as anticipated, accidents, or labour disputes. Risks and uncertainties

about Wesdome’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada

and available on SEDAR under the Company’s profile at www.sedar.com. Readers are urged to read these materials and should not

place undue reliance on the forward-looking statements contained in this presentation.

Wesdome assumes no obligation to update the forward-looking information relating to beliefs, opinions, projections, or other factors,

should they change, except as required by applicable securities laws.

TSX:WDO | 3

Canadian Gold Company with Three 100%

Owned Projects• Over 30 years of continuous gold production

• 2018 Guidance: 70,000 – 75,000 ozs (YTD 2018:

54,371 ozs)

• Drilling High grade discovery at Kiena Complex

• Eagle River Operations funding $25 M

exploration and development at Kiena

• H1 2018 free cash flow generation of $5.2 M

• Q2 2018 third consecutive quarter of free cash

flow generation

Moss Lake, Thunder Bay, Ont.

Open Pit Gold Deposit

Resources: Indicated 1.4M oz,

Inferred 1.7M oz

Eagle River Complex, Wawa,

Ont.

Operating Mine Complex, two

deposits feed central mill @

~850 tpd

Past Prod.: 1.1 M oz

Reserves: P&P 518,000 oz

Resources: M&I 342,000 oz,

Inf. 225,000 oz

Kiena, Val d’Or, Quebec

Production Suspended 2013

Past Prod.: 1.75 M oz

Resources: M&I 450,000 oz,

Inf. 400,000 oz

Fully Permitted Mine/Mill

Complex on Standby

1 2 3

3

12

TSX:WDO | 4

Corporate Structure

Symbol

TSX:WDO

Shares Outstanding

134.2 M

Options and RSU’s

7.2 M

Warrants

0

Fully Diluted

141.4 M

52 Week High/Low

$3.85/$1.64 (Average daily

volume 800,000 shares)

Market Capitalization

$473M

($3.52 September 19, 2018)

Cash Position

$26.7 M (August 1, 2018)

No Debt

Analyst Coverage

BMO Capital Markets

Clarus Securities

Desjardins Capital Markets

Echelon Wealth Partners

Eight Capital Partners

Industrial Alliance

Laurentian Bank

Mackie Research

National Bank Financial

PI Financial

Major Shareholders

1832 Asset Management, Van

Eck, Oppenheimer, Royal Bank

Investment Management,

Mackenzie Financial, US Global,

Gabelli

Management and Directors

2.2%

TSX:WDO | 5

Share Price Performance

Three Year

Six Month One Year

Five Year

TSX:WDO | 6

Building Canada’s Next Mid-Tier Gold Producer

Assets in top rated

jurisdictions – Ontario and

Quebec

Low risk expansion of

existing mines in proven

mining camps

New high-grade gold

discovery in permitted, de-

watered former producing

mine

Proven building blocks to increase

shareholder

TSX:WDO | 7

2018 Production Guidance Raised to 70,000 –

75,000 Ounces

TSX:WDO | 8

Q3 & YTD 2018 Operating Results

Amounts are denominated in Canadian

dollarsThird Quarter Year -to -date

2018 2017 Variance % +/( -) 2018 2017 Variance % +/( -)

Ore milled (tonnes)

Eagle River 46,777 44,421 2,356 5% 134,635 117,959 16,676 14%

Mishi 4,076 38,638 (34,562) (89)% 62,155 114,396 (52,241) (46)%

50,854 83,058 (32,204) (39)% 196,790 232,355 (35,565) (15)%

Head grade (grams per tonne,

“g/t”)

Eagle River 13.3 9.7 3.6 38% 12.2 10.3 1.9 18%

Mishi 3.4 2.0 1.4 69% 2.3 1.8 0.5 27%

Gold production (ounces)

Eagle River 19, 437 13,313 6,124 46% 50,602 37,498 13,104 35%

Mishi 358 2,181 (1,823) (84)% 3,769 5,687 (1,918) (34)%

Total gold production 19,795 15,493 4,302 28% 54,371 43,185 11,186 26%

Production sold (ounces) 18,401 13,069 5,332 41% 52,404 38,419 13,985 36%

Revenue from gold sales ($

millions) 2$28.9 $2 1.2 $7.7 36 % $86.6 $64.5 $22.1 34%

Average realized price per

ounce 3$1,571 $1,619 ($48) (3)% $1,651 $1,656 ($5) - %

Notes:Numbers may not add due to rounding.

Revenue for year-to-date 2017 includes $0.9 million in gold sales from the cleanup of the Kiena mill.

Average realized price per ounce is a non-GAAP measure and is calculated by dividing the reported revenue from gold sales by the number of ounces sold for a given

period.

TSX:WDO | 9

Q2 2018 Financial Results, 3 Consecutive

Quarters of Free Cash Flow Generation

1 Refer to the section entitled “Non-IFRS Performance Measures” for the reconciliation of these non-IFRS measurements to the financial statements.

3 Revenues for Q2, 2018, Q1 2018 and Q4 2017 includes insignificant amounts from the sale of by-product silver (nil for other periods).

4 Revenues in Q2 2017 and Q3/Q4 2016 include $0.9 million and $2.4 million, respectively in revenue generated from gold recovery from the clean up of the Kiena mill (nil for other periods).

TSX:WDO | 10

Mineral Reserves (2017 Year End)

21% increase in Eagle River ounces; grade

increased by 32%

• Reserves and Resources as at December 31, 2017.

• Mineral Resources exclusive of Mineral Reserves.

• The contents of this slide have been verified and approved by Michael Michaud, P. Geo, VP Exploration for the Company and a Qualified Person

within the meaning of NI 43-101

• For details, please refer to the Company’s press release dated February 26, 2018 and AIF dated March 21, 2018 available on the Company’s

website and sedar.com

TSX:WDO | 11

Eagle River Parallel Structure Reserve

Breakdown

Structure Tonnage Grade (gAu/tonne) Contained Ounces

Percentage of P + P

Reserve Ounces

Proven and Probable Reserves

No. 8 205,000 10.5 69,000 17%

No. 300 514,000 13.4 222,000 53%

No. 7 228,000 13.2 97,000 23%

Other 112,000 7.8 28,000 7%

Total 1,059,000 12.2 416,000

100%

• Reserves and Resources as at December 31, 2017.

• The contents of this slide have been verified and approved by Michael Michaud, P. Geo, M.ScA, VP Exploration for the Company and a Qualified

Person within the meaning of NI 43-101

• For details, please refer to the Company’s press release dated February 26, 2018 and AIF dated March 21, 2018 available on the Company’s

website and sedar.com

TSX:WDO | 12

Exploration: Two Properties Attain Highest Grade

Hits in 2017

Source: Mining Intelligence/Mining.com

TSX:WDO | 13

Eagle River Mine: 1.1 M oz of Production

• Quartz diorite stock (2 km x 0.5 km) hosts 1.1 M oz of past production

at Eagle River from 8, 6 and 2 Zone structures (1995 to 2017)

• Parallel 7 and 300 Zones to north offer new potential throughout the mine

• 2017 Production: 50,996 ounces (152,591 t @ 10.6 g/t)7 Zone Surface

TSX:WDO | 14

Eagle River Parallel Gold Zones Remain Open

4200 elev

4200 elev

100

m

open

open

open

open

Section 9400E

(looking west)

Section 9400E

(looking west)

• Discovery of two new parallel gold zones in 2013

• Exploration in 2014 - 2017 leads to reserve growth with expanding potential within mine footprint

• Mining of 300 Zone began in Q3 – 2015, 7 Zone in production since Q4 2016

• Recent widths at 300 North and 303 East Zones wider than previously encountered

TSX:WDO | 15

Eagle Drilling to Diversify Production Locations

Longitudinal Section Looking North

Untested Potential in Parallel Zones

303 Lens 864m drift highlights

Lens Strike

Length

(m)

Aver

age

Widt

h

(m)

Uncut

Grade

(g/t

Au)

Cut

Grade

(g/t

Au)

300B 14.3 1.7 19.8 19.8

300C 22.8 1.5 24.6 13.3

301N 30.1 2.2 22.5 14.8

301 51.1 2.0 28.3 21.2

302 17.0 1.7 24.0 24.0

303 20.1 8.6 50.5 26.2

303 Lens structure currently traced

from 750 m to 1000 m depth and

remains open

7 Zone drifting highlights Level Strike

Length

(m)

Avera

ge

Width

(m)

Uncut

Grade

(g/t

Au)

Grade

Cut

(g/t

Au)

1006 E 51.7 1.7 33.83 29.67

1006

W

41.1 3.2 22.85 15.25

1006

Combi

ned

92.8 2.3 27.39 21.21

1022 E 75.5 1.8 34.86 28.33

1022

W

47.3 2.7 10.33 10.33

1022

Combi

ned

122.8 2.2 23.79 20.21

TSX:WDO | 16

Eagle Exploration Targeting – Parallel Zones

Plan View

Targeting areas where E-W structures intersection WNW structures, and

areas where structures enter/exit Diorite

N

8 Zone

7 Zone 300 Zone

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Eagle Surface Exploration Drill Targets

10,000 m of drilling commencing September 2018

3D View (looking northwest)

N

N

TSX:WDO | 18

Mishi Deposit – Future Potential

2017 New Area

Under Explored

2017 New Area

Mishi Pit

3D View (looking northwards)

600 m West of Pit

1.95 g/t over 29.8 m TW

3.08 g/t over 15.5 m TW

3.48 g/t over 17.7 m TW

2.14 g/t over 22.1 m TW

2.52 g/t over 18.8 m TW

2.38 g/t over 11.9 m TW

TSX:WDO | 19

Kiena Complex, Val d’Or, Quebec

• Mine on care and maintenance since

mid-2013

• 2,000 TPD permitted mill

• 930 Metre shaft

• Ramp system to 1000 m

• Underground de-watered

• Past production 1981 – 2013 12,500,00

mt @ 4.5 g/t = 1.75 M ounces

produced

TSX:WDO | 20

Kiena Complex – Location, Location, Location!

TSX:WDO | 21

Kiena Deep

Kiena Mine1.8 M oz

Siscoe Mine0.9 M oz prod

Wesdome Deposit0.4 M oz Resource

Presqu’ile Deposit0.1 M oz Resource

Kiena Complex – Regional Geological Potential

TSX:WDO | 22

Kiena Deep Discovery

Why Kiena Deep:

• Large Regional Structures

• Multiple zones of ductile

and brittle deformation for

“openings” for Au

• Ultramafic contact tends to

“pool” liquids

• 40,000 metre underground

drill program in 2018

• Drilling 25 x 25 metre

spacing

• Gold to establish indicated

resources by Q418

TSX:WDO | 23

Kiena Deep A Zone Longitudinal Section

S50 Zone

B Zone

VC Zone

A Zone Up Plunge Extension

A Zone

Open

TSX:WDO | 24

Kiena Deep A Zone - Open Up and Down Plunge

and Dip

Kiena Deep A Zone

A1 Zone

A2 Zone 250 m

TSX:WDO | 25

Kiena Deep A Zone - Up Plunge Potential

600 m plunge defined

600 m plunge potential

TSX:WDO | 26

Kiena Deep A Zone – Flattens at Depth with

Multiple Zones

TSX:WDO | 27

Extended Ramp Development and Recent Results

Average thickness 7 m

48 out of 50 holes visible gold showings

TSX:WDO | 28

VC Zone – Near-Term Production Potential

Highlights include:

•262.13 g/t or (17.70 g/t cut to 34.28 g/t) over

5.6 m true width in hole 6205 (A Zone?)

•10.28 g/t or (8.56 g/t cut to 34.28 g/t) over

3.0 m true width in hole 6201

•9.26 g/t (9.26 g/t cut) over 3.0 m true width

in hole 6208

VC Zones – Important Aspect of restart program

TSX:WDO | 29

Moss Lake – Optionality on Gold Price

• Dominant land holdings, 36 km along Shebandowan Gold Belt containing four

deposits open for expansion

• Moss Lake Deposit remains open Pit and Mineral Resource constrained by

property boundary

• 2017 drilling extends strike length mineralization from 2kms to 4.5 kms

• Geophysical expression (IP) extends over a strike length of 8 kms

• Potential to significantly add to resources

TSX:WDO | 30

2018 Exploration Summary – Sustained Investment

$10.8 M Exploration

Drilling Budget

Eagle:

4 Underground Drills

1 Surface Drill

(September)

Kiena:

4 Underground Drills

Property 2018 Metres 2017 Metres 2016 Metres 2015 Metres

Eagle Underground Exploration

Drilling 25,000 24,000 27,000 22,000

Eagle River Underground

Definition Drilling 25,000 35,000 32,000 20,000

Eagle Surface Exploration Drilling 10,000 15,000 25,000 0

Mishi Exploration Drilling 0 15,000 25,000 5,000

Kiena Complex 50,000 45,000 10,000 0

Moss Lake 0 25,000 4,000 0

Total 110,000 159,000 123,000 47,000

TSX:WDO | 31

Summary

Experienced Management

team with proven track

records

LOW CAPEX:

Kiena: New gold discovery

in existing, permitted, de-

watered former producing

mine

HIGHLY EXECUTABLE:

Eagle River: new high-

grade parallel zones close

to infrastructure

Pipeline of development

projects

Aggressive Exploration

Programs in Wawa and Val

d’Or

Operations in safe

jurisdiction, Canada

LOW RISK:

Expansion of existing

mines in proven

mining camps

Appendix

TSX:WDO | 33

Executive Management Team

Duncan Middlemiss, P. Eng

Chief Executive Officer

- Professional engineer with over 25 years experience in operational management, mine rehabilitation,

development and gold production

- Over 10 years of executive management experience

- Most recently Chief Executive Officer of St Andrew Goldfields until its sale to Kirkland Lake Gold in January

2016

Ben Au, CPA, CA

Chief Financial Officer

- Over 35 years of experience in financial management and reporting, regulatory compliance, M&A, and

P&L management

- Over 11 years at Agnico Eagle Mines in increasingly senior financial reporting roles

- Most recently Chief Financial Officer of St Andrew Goldfields Ltd until its acquisition by Kirkland Lake Gold

Marc-Andre Pelletier, P.Eng

Chief Operating Officer

- Professional engineer with over 20 years experience in operating gold mines in Canada

- Over 9 years at Barrick Gold in increasingly senior operational management roles

- Most recently VP Operations at St Andrew Goldfields until its acquisition by Kirkland Lake Gold

Michael Michaud, P.Geo

VP, Exploration

- Professional geologist with over 30 years experience in domestic and international gold exploration and

mining

- Former Principal of SRK Consulting Inc

- Most recently Chief Geologist at Iamgold

Lindsay Carpenter Dunlop

VP, Investor Relations

- Over 10 years experience in the development and execution of investor relations programs for publicly

traded resource companies

- Most recently 5 years as Director of Investor Relations at Kirkland Lake Gold

Stacy Kimmett

VP, Human Resources

- Over 20 year experience in human resources focusing on policy development, compliance, and change

management

- Most recently Sr. Director, Human Resources at St Andrew Goldfields

Heather Laxton

Corporate Secretary & CGO

- 20 years of corporate secretarial, corporate governance and securities regulation experience with a focus

on the mining sector in Canada, Europe, Russia and West Africa

- Most recently Corporate Secretary at Kirkland Lake Gold

Vincent Ramcharan, P.Eng

Director of Sustainability

- Professional engineer with 20+ years mining experience in operations, construction, sustainability,

environment, indigenous peoples, and permitting

- Corporate and management experience with Cliffs, International Minerals, SNC-Lavalin(for Barrick, Inmet,

BHP, Sherritt, Gold Reserves)

- Most recently Director, Sustainability at Richmont Mines (acquired by Alamos Gold in November 2017)

TSX:WDO | 34

Board of Directors

Charles Page, P.Geo

Chairman

- Over 40 years experience in the mineral exploration and mining industry

- Most recently President and CEO of Queenston Mining, leading the discovery and

development of the Upper Beaver deposit in the Kirkland Lake gold camp, until its acquisition

by Osisko Mining

Charles Main, CPA, CA

- Chartered Professional Accountant and member of the Chartered Professional Accountants of

Ontario and Canada

- Over 30 years experience in finance and mining industries

- Most recently Chief Financial Officer of Yamana Gold from 2003 – 2017

Duncan Middlemiss, P. Eng

Chief Executive Officer

- Professional engineer with over 25 years experience in operational management, mine

rehabilitation, development and gold production

- Over 10 years of executive management experience

- Most recently Chief Executive Officer of St Andrew Goldfields until its sale to Kirkland Lake

Gold in January 2016

Nadine Miller, P. Eng

- Over 15 years experience in geotechnical engineering and project management in the mining

space

- Former Business Development Manager at SNC-Lavalin’s Mining and Metallurgy unit

Warwick Morely-Jepson

- Over 35 years experience in the mining industry within operations, project and business

development

- Formerly Chief Operating Officer and Executive VP of Kinross Gold Corp

Rolly Uloth- Over 45 years of senior management experience

- Co founder of Rosedale Transport, fifth largest trucking company in Ontario

Bill Washington, MBA- Former Head of Global Mining and Metals at National Bank Financial Markets

- Over 25 years experience in capital markets, focused exclusively on the mining sector

TSX:WDO | 35

Notes to Technical Disclosure Technical Disclosure

Mineral Resources

This presentation contains information regarding mineral resources estimated at the Company’s projects. Mineral resources are not

mineral reserves and do not have demonstrated economic viability. Further, the quantity and grade of reported inferred mineral

resources are uncertain in nature and it cannot be assumed that further exploration will result in all or any part of an inferred mineral

resource being upgraded to an indicated or measured mineral resource category.

Qualified Person - Ontario

The technical information contained in this presentation has been reviewed and approved by Michael Michaud, P.Geo, M.ScA, VP

Exploration for the Company and a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure of

Mineral Projects (“NI 43-101”).

Qualified Person – Quebec

The technical information contained is this presentation pertaining to Quebec properties, (“Kiena Complex and Kiena Deep”) has been

approved and verified by Marc Ducharme, P. Geo, Chief Exploration Geologist for the Company and a Qualified Person within the

meaning of National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI-43-01”).

Additional Information

Additional information about each of the mineral projects as required by NI 43-101, including key assumptions, parameters and

methods used to estimate the mineral resources presented in respect of the Company’s projects, can be found in Technical Reports

filed for each respective property on SEDAR at www.sedar.com. Other important operating information can be found in the Company's

AIF, MD&A and press releases.

Financial Disclosure

Unless otherwise indicated, all dollar values herein are in CDN$.

TSX:WDO | 36

Category Tonnes Grade (gAu/Tonne) Contained Ounces

Eagle River Underground Resources

Indicated 50,700 7.3 12,000

Inferred 334,000 8.0 85,000

Mishi Open Pit Resources

Indicated 3,679,000 2.1 248,000

Inferred 764,000 2.4 59,000

Mishi Underground Resources

Indicated 567,000 4.5 82,000

Inferred 437,000 5.8 81,000

Total M + I Resources 342,000

Total Inferred Resources 225,000

Mineral Resources (2017 Year End)

Operating Assets

• Reserves and Resources as at December 31, 2017.

• Mineral Resources exclusive of Mineral Reserves.

• The contents of this slide have been verified and approved by Michael Michaud, P. Geo, M.ScA, VP Exploration for the Company and a Qualified Person within the

meaning of NI 43-101

• For details, please refer to the Company’s press release dated February 22, 2017 and AIF dated March 21, 2018 available on the Company’s website and sedar.com

TSX:WDO | 37

Category Tonnes Grade (gAu/Tonne) Contained Ounces

Kiena Complex Resources

Measured 63,700 4.06 8,300

Indicated 2,439,800 5.62 441,000

Total M + I Resources 2,500,600 5.59 449,300

Total Inferred Resources 1,563,300 7.97 400,400

Moss Lake Resources

Total M + I Resources 39,795,000 1.1 1,377,000

Total Inferred Resources 50,364,000 1.1 1,751,000

Mineral Resources (2016 Year End)

Development & Exploration Assets

• Reserves and Resources as at December 31, 2016.

• Mineral Resources exclusive of Mineral Reserves

• The contents of this slide have been verified and approved by Michael Michaud, P. Geo, M.ScA, VP Exploration for the Company and a Qualified

Person within the meaning of NI 43-101

• For details, please refer to the Company’s AIF dated March 21, 2018 available on the Company’s website and sedar.com

TSX:WDO | 38

Eagle River/Mishi Complex Central Ontario

• Located in Hemlo/Wawa

Gold Camp

• Celebrating 20 years

of production

• 1,000,000+ oz @ 9.1 g/t Au

• Current operations ~800 tpd

Mill located adjacent to

Mishi open

pit deposit (permitted

to 1,200 tpd)

• Eagle River underground

mine located 15 kms to

south

TSX:WDO | 39

New Discovery Located Near Existing Infrastructure

Existing Indicated Resources

Zone Cut Grade

(cut to 34.28

g/t)

Tonnes Ounces

S50 Deep A 10.87 173,111 60,511

S50 Deep AH 8.53 68,722 18,885

S50 Deep B 3.21 514,100 53,100

TOTAL OUNCES 132,466

TSX:WDO | 40

S-50 Zone Isometric View North

Drill holes

2010-2012

Level 91

S-50 Zone - Conceptual Isometric 3D View

• S-50 Zone depleted portion (red wireframe) •Majority of Kiena’s production (10M tons or 1.6 M oz Au) was

mined from the S-50 zone where widths range from ~15 to 50

metres wide•Thicker gold mineralized breccia zones interpreted to be part

of a large deformed sigmoidal structure extending northward

from the S-50 tabular shear hosted mineralized zone

TSX:WDO | 41

2013 Moss Lake – PEA (2.5 M oz. study)

300 m

NE

SW

open

General View of Mineralized Zones Longitudinal and Plan View of Moss Lake Pit

2.5 km

SW NE

open

Highlights• Open pit mine and CIL Processing at 40,000 tpd

• Life of mine strip ratio of 2.5 : 1

• 10 year mine life averaging 244,000 oz. per year

- years 1-5 average 296,000 oz. per year

- years 6-10 average 192,000 oz. per year

• Mill recovery: 79.2% to 84.2% (Gravity – CIL)

• Pre-production Capital: $543 M CDN

• Operating costs $17.56 CDN per tonne ($922

per oz.)

• Payback period: 1.75 years

• After Tax NPV: $196 M at 5% discount rate

• After Tax IRR of 12% (assumes Au price of

$1551 CDN)

TSX:WDO | 42

Kiena Complex Drill Core August 2016