Wesdome Gold Mines Ltd. announced production and sales results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported gold production of 15,797 ounces, representing an increase of 33% as compared to 11,887 ounces for the same period last year.

For the full year, the company reported gold production of 58,980 ounces, representing an increase of 24% as compared to 47,737 ounces for the same period last year.

For the quarter, the company reported revenue from sales of gold of CAD 31.3 million as compared to CAD 22.3 million for the same period last year.

For the full year, the company reported revenue from sales of gold of CAD 94.9 million as compared to CAD 81.6 million for the same period last year.

Wesdome Gold Mines Ltd. provided guidance for the full year 2018. For the year, the company expects gold production to be in range of 62,000 ­ounces to 68,000 ounces. Operating cost per ounce to be in range of CAD 950 to CAD 1,025.

The Company will continue its ongoing aggressive and focused exploration program during 2018 to follow-up on exploration successes in 2017 at both the Eagle River Mine in Wawa, Ontario and the Kiena Complex in Val d'Or, Quebec. At the Eagle River Mine, the Company is continuing to develop and explore two parallel zones, the No. 7 and 300 zones that during 2017 returned strong grades, longer strike lengths with greater continuity, and greater than average ore widths. Continued drilling of 303 East zone has now traced the structure from 750 metre depth to 1,000 metre depth, and remains open up and down plunge and a focus for 2018 drilling. Additionally, a limited surface drilling program will be completed to explore for additional zones along these structures within the relatively untested areas within the eastern portion of the mine diorite that will be better targeted with an updated 3D geologic model. At the Kiena Complex, the Company is continuing to develop a ramp to the 1,100 metre level in order to provide enhanced drill coverage of the Kiena Deep discovery, which remains open at depth and along strike. The ramp is expected to be fully completed in first quarter 2018 and drilling to be completed in fourth quarter and a resource estimate to follow. Results will be released as drilling continues.