WM.TO · 2021-06-29 12:00:00

Wallbridge Continues Successful Expansion and Definition of High-Grade Shoots in Tabasco and Area 51 at Fenelon

Corporate Updates

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Wallbridge Continues Successful Expansion and Definition of High-Grade Shoots in Tabasco and Area

51 at Fenelon

Toronto, Ontario – June 29, 2021 – Wallbridge Mining Company Li mited (TSX:WM) (“Wallbridge” or the

“Company”) today announced additional assay r esults from its current dri lling program on the Fenelon Gold Property

(“Fenelon” or the “Property”). Expansion drilling continues to reveal additional bulk mineable, near-surface mineralized

corridors in the western part of Area 51, while definition dril ling continues to define steep, high metal factor (gold grade

multiplied by thickness) gold shoots within the Tabasco-Cayenne Zones (see 181-, 134- and 086- shoots on Fig.1).

Drilling is currently focusing on multiple areas, within the ap proximately 1.0 km by 1.2 km central portion of the Fenelon

Gold System, to expand and better define the mineralization in support of the maiden mineral resource estimate (“MMRE”).

Over 200,000 metres of drilling will be incorporated into the MMRE.

Highlight results from these various areas, released today, include:

 Area 51, Near Surface Expansion Drilling:

23.70 g/t Au over 24.90 metres in FA-21-269 (see Figs. 2 and 3);

 Tabasco-Cayenne-Contact Zone, Definition Drilling:

6.83 g/t Au over 15.00 metres in FA-21-247 (see Figs. 1, 2 and 6), and

6.61 g/t Au over 11.35 metres in FA-21-261 (see Figs. 1 and 2);

 Area 51, Definition Drilling (near surface down to around 300 m vertical depth - potential open pit resource):

1.97 g/t Au over 38.50 metres in FA-21-264A-W1 (see Figs. 2 and 5), and

1.02 g/t Au over 33.70 metres in FA-21-247 (see Figs. 2 and 6);

91.80 g/t Au over 0.50 metres in FA-21-248 (see Figs. 2 and 3);

 Area 51, Definition Drilling (below 300 m depth):

15.37 g/t Au over 3.25 metres in FA-21-257 (see Figs. 2 and 3);

“The wide, near-surface intersections in Area 51, consistently yielding 1 to 2 g/t gold average grades, will be very important

in building a robust, potentially bulk mineable resource in th is part of the deposit. Higher grade intersections, like that

intersected in hole FA-21-269, will enhance the larger Area 51 near-surface resource base,” st ated Marz Kord, President

& CEO of Wallbridge.

Marz Kord further added: “The Tabasco intersections in hol es FA-21-247 and FA-21-261 released today are important in

confirming the presence and geometry of steep gold-rich shoots wi thin the central 600 metre strike length of the Tabasco

Zone which has seen the most drilling to date. The ongoing definition drilling and geological modelling has been increasing

our understanding of this deposit, as we work towards our maiden resource. It is also revealing the controls on high-grade

gold deposition in this gold system and will continue to drive our exploration as we further test the extensions of these

zones.”

Area 51 Expansion Drill Results

In recent months, drilling has also been focusing on expanding the known footprint of near-surface gold mineralization in

the western-southwestern portion of Area 51 in order to grow the open pit resource potential.

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Today’s results include:

FA-21-269 23.70 g/t Au over 24.90 metres , including

3.79 g/t Au over 5.20 metres, and

196.29 g/t Au over 2.90 metres at a vertical depth of 70 metres (see Figs. 2 and

3);

Tabasco-Cayenne-Contact Zones, Definition Drill Results

Definition and expansion drilling at a nominal 75-metre drill s pacing, targeting the Tabasco-Cayenne-Contact Zones over

a strike length of approximately 800 metres and vertical depths between 300 and 1,000 metres has been the primary focus

of this campaign (see Figs. 1 and 2) to better define the geometry and grade of the zones and gain information on the

structural controls of the gold mineralization.

FA-21-247 6.83 g/t Au over 15.00 metres , including

20.19 g/t Au over 4.10 metres in the Tabasco Zone (see Figs. 1, 2 and 6);

FA-21-261 6.61 g/t Au over 11.35 metres , including

18.09 g/t Au over 3.85 metres in the Tabasco Zone (see Figs. 1 and 2);

Area 51 Definition Drill Results

As our drill holes approach Tabasco-Cayenne, they also transect the Area 51 gold vein network, providing important

information from all of these zones.

Near surface highlights from Area 51 zones from the holes reported today include:

FA-21-264A-W1 1.97 g/t Au over 38.50 metres , including

8.49 g/t Au over 4.45 metres at a vertical depth of 260-290 metres (see Figs. 2

and 5);

FA-21-247 1.02 g/t Au over 33.70 metres , which includes

5 . 3 1 g / t A u o v e r 4 . 0 0 m e t r e s, and

1.26 g/t Au over 13.50 metres, included within a larger interval of 0.89 g/t Au over 59.00

metres at a vertical depth of 230-290 metres (see Figs. 2 and 6);

FA-21-248 91.80 g/t Au over 0.50 metres at a vertical depth of 150 metres (see Figs. 2 and 3);

Note: Further assays near this interval pending.

Highlight intersections of Area 51 zones from below 300 m vertical depth reported today include:

FA-21-257 15.37 g/t Au over 3.25 metres (see Figs. 2 and 3);

In-fill Sampling Program Results

A systematic campaign of conti nuous in-fill sampling of histori c drill holes down to a vertical depth of 250 metres is

underway in order to collect further information for the open pit constrained portion of the MMRE.

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

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

FAB-11-35 2.66 g/t Au over 5.55 metres in the Cayenne Zone (see Fig. 1);

Note: This composite includes historically sampled, as well as new assay results.

2020-2021 Drilling Program Update

In 2021, the Company is planning to complete approximately 170,000 metres of drilling, approximately 10-15% of which

will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon

Gold Trend.

Assay results of 23 drill holes of the 2021 exploration drill program and one historic drill hole 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.

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Figure 1. Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Figure 2. Fenelon Gold, Plan View

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Figure 3. Fenelon Gold, Cross Section 9750_E

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Figure 4. Fenelon Gold, Cross Section 9900_E

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com

129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]

Figure 5. Fenelon Gold, Cross Section 9975_E

← Back to feed