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    WM   CA9323971023

WALLBRIDGE MINING COMPANY LIMITED

(WM)
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Wallbridge Mining : Updates Progress on Maiden Mineral Resource Estimate at Fenelon

10/06/2021 | 06:31am EST

TORONTO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce that its maiden mineral resource estimate (“MMRE”) for the Fenelon Gold Property (“Fenelon” or the “Property”) is progressing well and is scheduled for release by the end of October along with an updated mineral resource estimate (“MRE”) for the Martiniere Gold Property (“Martiniere”). The assay results announced today include the final assays to be included in the MMRE. Drilling is continuing with up to 11 drill rigs; approximately 45-50,000 additional metres are planned for the remainder of the year. Future assay results will be included in upcoming resource updates.

Maiden Mineral Resource Estimate (“MMRE”)

The MMRE will include assays from over 300,000 metres of drilling from within an approximately 1.0 by 1.5-kilometre area in the central part of the known mineralized footprint at Fenelon, from surface to a maximum depth of approximately 1,000 metres.

The MMRE will encompass:

  • near surface potentially open pittable mineralization in Area 51;
  • near surface high-grade mineralization adjacent to the existing mine workings from the Gabbro Zones;
  • wide zones of potentially bulk mineable underground mineralization from the Tabasco, Cayenne, Contact and Area 51 Zones;

“Our resource estimation at Fenelon is progressing well, and the majority of the results announced today are still part of the maiden resource database,” stated Marz Kord, President & CEO of Wallbridge. “The MMRE is an important milestone for the Company, less than 3 years after the initial discovery of the Area 51 and Tabasco zones, and represents the first major steppingstone in developing one of Quebec’s new large gold deposits. The deposit remains open in multiple directions laterally and at depth and we see a lot of potential to grow this deposit to ultimately become a significant gold producer. Over the remainder of the year, we will ramp- up our exploration drilling efforts to expand the known mineralized footprint at Fenelon in order to better understand the ultimate size potential of this deposit and the surrounding property.”

Tabasco-Cayenne-Contact Zones, Definition Drill Results

Nominal 75 metre-spaced definition drilling of the Tabasco-Cayenne-Contact Zones over a strike length of approximately 800 metres and vertical depths between 300 and 1,000 metres in support of the MMRE was the primary focus of the Company’s drilling campaign between January and August of this year.

Highlight intersections (> 30 metal factor; metal factor = Au grade multiplied by thickness) since our last news release from this program, include:

FA-21-283B  5.97 g/t Au over 8.70 metres in the Tabasco Zone (see Figs. 1, 2 and 7);
    
FA-19-096-W1 2.67 g/t Au over 21.85 metres, including
  4.63 g/t Au over 8.75 metres in the Tabasco Zone (see Figs. 1, 2 and 6);
    
FA-19-096-W2 6.97 g/t Au over 4.60 metres, including
  48.54 g/t Au over 0.50 metres in the Cayenne Zone (see Figs. 1, 2 and 6);
    
FA-20-159-W2 4.38 g/t Au over 7.75 metres, including
  9.01 g/t Au over 3.05 metres in the Cayenne Zone (see Figs. 1, 2 and 7);
    
FA-20-205-W1 3.12 g/t Au over 12.45 metres, and
  1.99 g/t Au over 16.30 metres in the Tabasco Zone (see Figs. 1, 2 and 8);
    
FA-21-261 3.56 g/t Au over 9.45 metres in the Tabasco Zone (see Figs. 1, 2 and 7);
    
FA-21-261-W2 3.03 g/t Au over 11.50 metres, including
  45.61 g/t Au over 0.50 metres in the Cayenne Zone (see Figs. 1, 2 and 6);
    
FA-21-266-W1 2.21 g/t Au over 25.10 metres, including
  3.59 g/t Au over 11.75 metres in the Contact Zone (see Figs. 1 and 2);
    
FA-21-293A 3.72 g/t Au over 9.00 metres, including
  5.56 g/t Au over 5.60 metres in the Tabasco Zone (see Figs. 1, 2 and 6)

Area 51, Definition Drill Results

As the definition drill holes approach the Tabasco-Cayenne-Contact Zones, they also transect the Area 51 gold vein network, providing important information from all of these zones.

Highlight intersections (> 30 metal factor; metal factor = Au grade multiplied by thickness) of Area 51 zones reported today include:

 FA-21-282 3.80 g/t Au over 10.70 metres, including
  11.67 g/t Au over 2.55 metres (see Figs. 1 and 3);
   
 FA-21-258-W1 0.83 g/t Au over 36.10 metres, including
  14.50 g/t Au over 0.50 metres, and
  3.71 g/t Au over 2.95 metres, and
  6.91 g/t Au over 5.50 metres (see Fig. 1);  
   
 FA-21-250-W4 2.10 g/t Au over 84.70 metres, including
  5.15 g/t Au over 14.30 metres, which further includes
  18.87 g/t Au over 3.20 metres,
  2.97 g/t Au over 5.10 metres, and
  17.85 g/t Au over 3.70 metres (see Figs. 1 and 4);
    
 FA-21-289 2.29 g/t Au over 32.00 metres, including
  4.09 g/t Au over 9.00 metres, and
  3.54 g/t Au over 9.20 metres (see Fig. 1);
   
 FA-21-264A-W1 8.49 g/t Au over 4.45 metres, including
  50.06 g/t Au over 0.65 metres, and
  64.81 g/t Au over 0.50 metres (see Figs. 1 and 5);
    
FA-21-264A-W2 31.40 g/t Au over 1.50 metres, and
  7.90 g/t Au over 3.70 metres, including
  16.05 g/t Au over 1.30 metres (see Figs. 1 and 5);
    
FA-21-282 24.79 g/t Au over 1.70 metres, including
  73.70 g/t Au over 0.50 metres (see Figs. 1 and 3);
    
FA-21-282-W2 19.93 g/t Au over 2.20 metres (see Figs. 1 and 3);
    
FA-21-295 3.98 g/t Au over 7.50 metres, including
  43.50 g/t Au over 0.50 metres (see Figs. 1 and 3);
    
FA-21-298 2.47 g/t Au over 18.65 metres, including
  42.80 g/t Au over 0.50 metres (see Figs. 1 and 8);

In-fill Sampling Program Results

A systematic campaign of continuous in-fill sampling of historic drill holes to a vertical depth of 250 metres, as well as within modelled mineralized corridors at greater depth was completed in order to collect further information for the open pit constrained portion of the MMRE.

Assay results from the historic drilling in-fill sampling program are highlighted by:

FA-19-103 3.88 g/t Au over 9.00 metres, and
  3.28 g/t Au over 6.00 metres, including
  7.02 g/t Au over 2.00 metres in Area 51 (see Figs. 1 and 7);
    
 19-1110-012 5.48 g/t Au over 3.00 metres in the Gabbro Zones (see Fig. 1 and 2);

2021 Drilling Program Update

Approximately 150,000 to 170,000 metres of drilling, including 20,000 to 25,000 metres devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend, is planned for 2021.

Assay results of 48 drill holes of the 2021 exploration drill program and 3 historic drill holes are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Figure 1. Fenelon Gold, Plan View
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2453546-1639-42b0-9386-63f54661cacb

Figure 2. Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/301c911e-aa34-49dc-ad52-0845afe11130

Figure 3. Fenelon Gold, Cross Section 9825_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/7497db78-ccdd-48aa-b725-499d90ade844

Figure 4. Fenelon Gold, Cross Section 9900_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/216a055e-4ff4-4a3c-aaa3-40db75b4de96

Figure 5. Fenelon Gold, Cross Section 9975_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/22e9e0b6-e48a-49b2-b884-8dc855fcd309

Figure 6. Fenelon Gold, Cross Section 10125_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/47f9e13b-fb3c-4458-8141-031617356f57

Figure 7. Fenelon Gold, Cross Section 10200_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/6992f0f9-ada9-43ef-8772-bc1031f0ef62

Figure 8. Fenelon Gold, Cross Section 10350_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1e9beca-642c-4ebf-b928-710e4e5dcdf3

Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
 
Drill HoleFromToLengthAuAu Cut(2)VG(3)Zone/CorridorSection
         
 (m)(m)(m)(g/t)(g/t)   
19-1110-01262.8065.803.005.485.48 Main Gabbro10575
FA-19-08550.5054.504.001.351.35 Tabasco9825
FA-19-096-W1772.30794.1521.852.672.67VGTabasco10125
Including…785.40794.158.754.634.63VGTabasco10125
FA-19-096-W1861.60862.601.005.105.10 Cayenne10050
FA-19-096-W2679.00682.553.552.012.01 Area 5110125
FA-19-096-W2763.10773.7510.651.951.95VGTabasco10125
Including…766.85769.052.203.443.44VGTabasco10125
FA-19-096-W2811.70815.653.952.082.08 Tabasco10125
FA-19-096-W2893.40898.004.606.976.97VGCayenne10125
Including…893.40893.900.5048.5448.54VGCayenne10125
FA-19-103435.00444.009.003.883.88 Area 5110200
FA-19-103582.00588.006.003.283.28VGArea 5110200
Including…584.00586.002.007.027.02VGArea 5110200
FA-20-148655.00656.501.504.634.63 Area 5110250
FA-20-159-W2526.20528.652.452.142.14 Area 5110200
FA-20-159-W2532.70540.007.302.462.46 Area 5110200
Including…536.00537.501.508.838.83 Area 5110200
FA-20-159-W2551.00554.003.002.012.01 Area 5110200
FA-20-159-W2573.80580.756.951.961.96VGArea 5110200
FA-20-159-W2632.50637.204.702.792.79VGArea 5110200
FA-20-159-W2654.00657.003.001.971.97 Area 5110200
FA-20-159-W2723.10733.1010.002.132.13 Area 5110200
FA-20-159-W2749.65751.902.252.592.59 Area 5110200
FA-20-159-W2757.50762.705.202.622.62VGArea 5110200
FA-20-159-W2825.10830.305.203.733.73 Contact Zone10200
FA-20-159-W2923.70931.457.754.384.38VGCayenne10200
Including…923.70926.753.059.019.01VGCayenne10200
FA-20-205-W1669.00671.602.602.502.50 Area 5110350
FA-20-205-W1695.50698.853.352.182.18VGArea 5110350
Including…697.30698.851.553.703.70VGArea 5110350
FA-20-205-W1711.50713.001.507.087.08 Area 5110350
FA-20-205-W1749.70755.205.505.185.18VGArea 5110350
Including…749.70750.200.5028.2428.24VGArea 5110350
FA-20-205-W1815.50817.001.503.733.73 Area 5110350
FA-20-205-W1883.00884.001.006.146.14 Area 5110350
FA-20-205-W1942.00954.4512.453.123.12 Tabasco10350
FA-20-205-W1973.00989.3016.301.991.99VGTabasco10350
FA-21-246A326.00326.500.5012.8012.80 Area 519750
FA-21-250-W1737.00738.801.804.114.11 Area 519900
FA-21-250-W11037.001041.504.505.895.89VGTabasco9900
Including…1041.001041.500.5033.2633.26VGTabasco9900
FA-21-250-W2736.55739.002.452.792.79 Area 519900
Including…738.00739.001.006.116.11 Area 519900
FA-21-250-W2962.00968.006.001.991.99 Area 519900
Including…965.25966.000.758.328.32 Area 519900
FA-21-250-W2977.00980.003.003.423.42VGArea 519900
Including…977.85978.350.5017.1417.14VGArea 519900
FA-21-250-W21007.501011.003.503.873.87VGArea 519900
FA-21-250-W3499.50501.001.503.563.56 Area 519900
FA-21-250-W4721.50723.001.504.274.27 Area 519900
FA-21-250-W4871.00955.7084.702.101.91VGArea 519900
Including…888.00902.3014.305.155.15VGArea 519900
Which Includes…893.40896.603.2018.8718.87VGArea 519900
And…927.40932.505.102.972.97VGArea 519900
And…952.00955.703.7017.8513.55VGArea 519900
FA-21-251No Significant Mineralization(4)9825 & 9750
FA-21-253254.00257.953.953.663.66 Tabasco10200
FA-21-253295.15305.009.850.800.80VGTabasco10200
FA-21-253327.00337.2010.200.830.83VGTabasco10200
Including…333.75337.203.451.691.69VGTabasco10200
FA-21-253635.50642.006.502.952.95 Cayenne10200
Including…639.00640.501.508.358.35 Cayenne10200
FA-21-254No Significant Mineralization(4)10350 & 10275
FA-21-255329.50331.001.504.014.01VGArea 5110050
FA-21-255561.00562.701.703.463.46VGTabasco10050
FA-21-256No Significant Mineralization(4)10200 & 10275
FA-21-258214.00235.7021.700.900.90VGArea 5110050
Including…225.55230.204.652.692.69VGArea 5110050
FA-21-258-W1225.90262.0036.100.830.83VGArea 5110050
Including…244.50245.000.5014.5014.50VGArea 5110050
And…259.05262.002.953.713.71VGArea 5110050
FA-21-258-W1310.10315.004.901.211.21 Area 5110050
FA-21-258-W1333.00334.501.504.374.37 Area 5110050
FA-21-258-W1396.00401.505.506.916.91 Area 5110050
FA-21-258-W1415.00416.501.505.865.86 Area 5110050
FA-21-258-W1582.00585.503.502.742.74 Tabasco10050
FA-21-259No Significant Mineralization(4)10350 & 10425
FA-21-26167.0078.5011.500.890.89VGArea 5110200
Including…67.0072.505.501.191.19 Area 5110200
FA-21-261688.60702.6014.001.731.73 Area 5110200
Including…688.60694.606.003.163.16 Area 5110200
FA-21-261846.85848.501.654.284.28 Area 5110200
FA-21-261939.50946.206.702.242.24VGArea 5110200
Including…939.50940.000.5024.6924.69VGArea 5110200
FA-21-2611098.401107.859.453.563.56VGTabasco10200
FA-21-261-W1694.90700.605.702.332.33 Area 5110200
Including…694.90696.101.207.987.98 Area 5110200
FA-21-261-W1843.50845.952.452.852.85 Area 5110200
FA-21-261-W1983.10988.455.354.004.00VGArea 5110200
Including…983.10984.601.5013.2913.29VGArea 5110200
FA-21-261-W11010.601012.702.103.073.07 Contact Zone10200
FA-21-261-W11084.001084.700.7012.3012.30 Cayenne10200
FA-21-261-W2696.90699.402.502.092.09 Area 5110200
FA-21-261-W2776.35776.850.5013.5713.57VGArea 5110200
FA-21-261-W2839.85841.451.604.614.61VGArea 5110200
FA-21-261-W2871.00873.802.802.182.18VGArea 5110200
FA-21-261-W2976.10978.252.156.406.40VGArea 5110200
FA-21-261-W21023.751025.551.802.922.92 Area 5110125
FA-21-261-W21106.501118.0011.503.033.03VGCayenne10125
Including…1117.501118.000.5045.6145.61VGCayenne10125
FA-21-261-W3701.45706.505.052.422.42 Area 5110200
FA-21-261-W3814.50817.603.102.262.26VGArea 5110200
FA-21-261-W31046.101047.601.503.903.90VGArea 5110200
FA-21-261-W31080.051084.003.953.423.42 Area 5110200
Including…1083.351084.000.6514.9014.90 Area 5110200
FA-21-261-W31132.601135.002.402.392.39VGTabasco10200
FA-21-261-W4689.00690.001.005.685.68 Area 5110200
FA-21-261-W4709.65710.400.7515.2015.20 Area 5110200
FA-21-261-W4873.50875.502.003.573.57 Area 5110200
FA-21-261-W4995.00999.504.502.702.70 Area 5110125
FA-21-262142.00154.0012.000.680.68VGArea 519525
FA-21-263650.40651.000.6030.9330.93VGCayenne10350
FA-21-263-W1No Significant Mineralization(4)10425 & 10500
FA-21-264A-W1314.70319.154.458.498.48VGArea 519975
Including…318.50319.150.6550.0650.00VGArea 519975
FA-21-264A-W1352.70353.200.5064.8150.00VGArea 519975
FA-21-264A-W1402.30408.005.701.711.71VGArea 519975
FA-21-264A-W2300.00302.202.202.502.50 Area 519975
FA-21-264A-W2355.80356.450.6522.8022.80 Area 519975
FA-21-264A-W2400.00402.302.303.523.52VGArea 519975
Including…401.75402.300.5512.1912.19VGArea 519975
FA-21-264A-W2432.00433.501.5031.4031.40 Area 519975
FA-21-264A-W2457.50461.203.707.907.90VGArea 519975
Including…459.90461.201.3016.0516.05VGArea 519975
FA-21-264A-W2500.50503.503.003.663.66 Tabasco9975
FA-21-264A-W2546.20547.401.204.354.35 Tabasco9975
FA-21-264A-W3No Significant Mineralization(4)9975
FA-21-264A-W4319.75320.400.6516.6016.60 Area 519975
FA-21-264A-W4371.40371.900.5017.6717.67VGArea 519975
FA-21-264A-W4383.90387.003.101.881.88VGArea 519975
FA-21-264A-W4416.60421.404.803.823.82 Area 519975
FA-21-266-W1823.30826.603.302.792.79VGArea 5110250
FA-21-266-W11113.301114.501.206.466.46 Contact Zone10250
FA-21-266-W11125.001150.1025.102.212.21 Contact Zone10250
Including…1125.001136.7511.753.593.59 Contact Zone10250
FA-21-266-W11196.501199.503.001.981.98 Cayenne10250
FA-21-266-W2841.00842.001.0014.0314.03VGArea 5110250
FA-21-266-W21083.001092.309.302.292.29VGArea 5110350
Including…1091.751092.300.5521.1121.11VGArea 5110350
FA-21-266-W21113.001114.001.006.926.92 Contact Zone10350
FA-21-266-W21183.001184.501.507.507.50 Cayenne10350
FA-21-274116.50128.0011.500.890.89 Contact zone9750
FA-21-277A317.50320.503.003.493.49 Tabasco10250
FA-21-277A366.00369.003.001.871.87 Tabasco10250
FA-21-277A490.00493.003.003.813.81 Tabasco10250
FA-21-277A502.65505.703.052.392.39 Tabasco10250
FA-21-278458.20458.750.5510.1010.10 Tabasco10250
FA-21-281No Significant Mineralization(4)9975
FA-21-282182.30200.0017.700.680.68 Area 519825
Including…182.30183.551.256.536.53 Area 519825
FA-21-282266.40277.1010.703.803.80 Area 519825
Including…266.40268.952.5511.6711.67 Area 519825
FA-21-282302.50304.001.505.535.53 Area 519825
FA-21-282379.70390.0010.301.501.50VGArea 519825
Including…387.75390.002.255.135.13VGArea 519825
FA-21-282478.30478.800.5011.0011.00 Area 519825
FA-21-282496.30498.001.7024.7917.82 Area 519825
Including…496.30496.800.5073.7050.00 Area 519825
FA-21-282544.25545.000.757.587.58 Area 519825
FA-21-282659.80662.702.902.642.64VGArea 519825
Including…659.80660.350.5511.4011.40VGArea 519825
FA-21-282684.80686.201.407.647.64 Tabasco9825
FA-21-282739.80744.754.953.003.00 Cayenne9825
FA-21-282-W2593.50595.702.2019.9319.93 Area 519825
FA-21-282-W2687.55690.002.458.248.24 Tabasco9825
FA-21-283B564.50573.208.705.975.97VGTabasco10200
FA-21-288144.80167.0022.200.710.71 Area 519825
Including…151.50156.004.502.932.93 Area 519825
FA-21-288183.50188.004.503.063.06 Area 519825
FA-21-288233.70248.4014.700.720.72VGArea 519825
FA-21-288329.00330.101.108.348.34VGArea 519750
FA-21-289165.95169.003.051.991.99 Area 5110250
FA-21-289409.50413.003.502.022.02 Area 5110250
FA-21-289493.00525.0032.002.292.29VGArea 5110250
Including…495.00504.009.004.094.09 Area 5110250
And…513.30522.509.203.543.54VGArea 5110250
FA-21-289624.10628.104.002.072.07 Area 5110250
FA-21-289852.00854.302.305.295.29 Cayenne10250
FA-21-29174.5089.0014.500.960.96 Area 519675
Including…74.5076.001.503.583.58 Area 519675
And…86.0087.101.105.905.90 Area 519675
FA-21-29289.50113.1523.650.800.80VGArea 519900
Including…109.25109.750.5024.5324.53VGArea 519900
FA-21-292246.00250.004.001.891.89 Contact zone9900
FA-21-292269.35276.707.352.012.01 Tabasco9900
Including…275.70276.701.007.477.47 Tabasco9900
FA-21-292315.05316.000.9519.8019.80 Tabasco9900
FA-21-293A353.00358.005.002.052.05VGArea 5110125
FA-21-293A376.00379.403.401.481.48 Contact Zone10125
FA-21-293A387.00392.005.001.121.12 Contact Zone10125
FA-21-293A407.40408.000.609.769.76 Tabasco10125
FA-21-293A501.25510.259.003.723.72VGTabasco10125
Including…504.65510.255.605.565.56VGTabasco10125
FA-21-293A555.00561.106.102.232.23 Tabasco10125
FA-21-293A585.60586.901.305.985.98 Tabasco10125
FA-21-29570.5071.000.5029.9929.99VGArea 519825
FA-21-295355.00356.601.605.525.52VGArea 519825
FA-21-295383.50391.007.503.983.98VGArea 519825
Including…390.50391.000.5043.5043.50VGArea 519825
FA-21-295401.00405.004.003.783.78VGArea 519825
FA-21-298212.00222.1010.100.730.73 Area 5110350
FA-21-298316.00316.500.5011.1311.13VGArea 5110350
FA-21-298593.35612.0018.652.472.47VGArea 5110350
Including…593.35593.850.5042.8042.80VGArea 5110350
FA-21-298665.00667.702.707.017.01VGArea 5110350
FA-21-298805.30808.853.553.803.80 Contact Zone10350
FA-21-298844.50846.001.504.114.11 Contact Zone10350
FA-21-29954.6557.102.458.548.54VGContact zone10350
Including…56.5057.100.6032.7832.78VGContact zone10350
FA-21-299282.75305.0522.300.970.97 Area 5110350
Including…282.75284.101.3510.9510.95 Area 5110350
FA-21-30026.1037.9011.800.930.93VGContact zone10425
Including…26.1026.700.608.698.69VGContact zone10425
FA-21-300178.00180.502.502.272.27 Contact zone10425
FA-21-300280.85289.758.900.770.77 Contact zone10425

(1) Table includes only assay results received since the latest press release dated Sept 15, 2021.
(2) Au cut at: 100 g/t Au for the Tabasco/Contact zones; 60 g/t Au for the Cayenne zones; 50 g/t Au for the Area 51 zones.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.
* Results reported here contain previously announced intervals that were extended with new assay results.

Note: True widths are estimated to be 50‒80% of the reported core length intervals.

Assay QA/QC and Qualified Persons

Drill core samples from the ongoing 2021 drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. In 2020 samples were submitted to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, AGAT and Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.

About Wallbridge Mining

Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. The Company completed approximately 102,000 metres of drilling in 2020 and is currently conducting a fully‒funded 2021 program of approximately 150,000-170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource estimate on the Fenelon Gold System in October 2021.

Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge's land holdings in Québec along the Detour‒Fenelon Gold Trend total more than 900.0 km2, improving Wallbridge's potential for further discoveries along a 90‒kilometre strike length in this underexplored belt.

Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.

This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.

For further information please visit the Company's website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com

This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited (“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.

The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.

Risks and uncertainties about Wallbridge’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 press release.

Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.


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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 319 M 249 M 249 M
Capi. / Sales 2021 -
EV / Sales 2022
Nbr of Employees 35
Free-Float 78,5%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 0,39 CAD
Average target price 0,86 CAD
Spread / Average Target 121%
Managers and Directors
Faramarz Kord President, Chief Executive Officer & Director
Brian W. Penny Chief Financial Officer
Alar Soever Chairman
Darryl Sittler Independent Director
W. Warren Holmes Lead Independent Director
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