Wallbridge Continues to Add Gold Mineralization Within Fenelon Mineral Resource Footprint Through Infill Sampling Program
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 to Add Gold Mineralization Within Fenelon Mineral Resource Footprint
Through Infill Sampling Program
Toronto, Ontario – August 4, 2022 – Wallbridge Mining Company L imited (TSX: WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”) is pleased to provide further positive assay results
from the ongoing in-fill sampling program at its flagship Fenel on Gold project (“ Fenelon”). The results
include additional gold mineraliza tion and extensions to minera lized intervals in previously unsampled
sections of drill core within and adjacent to Fenelon’s existing Mineral Resource Estimate (“MRE”) footprint.
“The systematic in-fill sampling program we initiated at Fenelon earlier this year has exceeded our
expectations, with a substantial number of previously unsampled drill core intervals returning assays above
the cut-off grade for the existing MRE. This undersco res the quality and scale of the gold mineralization at
Fenelon and has allowed us to delineate wider minera lized zones and adjust our models for future resource
estimates. Based on our improved understanding of the gol d system, we will continue to leverage this cost-
effective strategy to evaluate int ervals of the previously drilled core t hat have the potential to host gold
mineralization, but may have been ov erlooked in the past,” said Attila Péntek, Wallbridge’s Vice President,
Exploration.
The Company has prioritized more than 30,000 metres of previously unsampled drill core for in-fill sampling
by the third quarter of 2022. This evaluation will focus on int ervals that occur with in or adjacent to known
mineralized zones. To date, approximately 25,914 metres of prev iously unsampled drill core have been
collected as part of the 2022 in-fill program, of which results for 19,215 metres have been received.
Highlights from the in-fill sampling program of previously unsampled drill core intervals released today
include the following:
19-0915-026 1.36 g/t Au over 34.00 metres, including
8.49 g/t Au over 0.95 metres, and
3.11 g/t Au over 10.15 metres (Previously Released May 20, 2020), within
Area 51.
FA-21-260 2.13 g/t Au over 27.50 metres , including
6.91 g/t Au over 7.60 metres , which includes
51.10 g/t Au over 0.60 metres (Previously Released August 05, 2021) and
9.92 g/t Au over 1.50 metres within the Tabasco zone.
FA-19-086-W1 0.86 g/t Au over 14.60 metres , including
4.06 g/t Au over 1.50 metres within the Contact zone.
FA-20-113 1.24 g/t Au over 12.10 metres , including
2.17 g/t Au over 5.40 metres (Previously Released May 20, 2020), within
the Contact zone.
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FA-20-158 8.12 g/t Au over 1.50 metres within Area 51.
FA-20-164 17.69 g/t Au over 1.50 metres within Area 51.
The 2022 in-fill assay results from 15 drill holes are reported in the table and figures below. All figures and
the table with drill hole information of recently completed holes are posted on the Company’s website under
“Current Program” at www.wallbridgemining.com/s/fenelon.asp.
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Figure 1. Fenelon Gold, Drill Core In-Fill Sampling Program, Plan View
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Figure 2. Fenelon Gold, Drill Core In-Fill Sampling Program, Vertical Sections
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Table 1. Wallbridge Fenelon Gold Property, 2022 In‐fill Assay Highlights (1)
Drill Hole From To Length Au Au
Cut(2) VG(3) Zones
(m) (m) (m) (g/t) (g/t)
19‐0915‐026* 436.05 470.05 34.00 1.36 1.36 Area 51
Including… 447.65 448.60 0.95 8.49 8.49 Area 51
And…PR'ed May 20, 2020 459.90 470. 05 10.15 3.11 3.11 Area 51
19‐0925‐005A 353.00 367.00 14.00 0.43 0.43 Area 51
19‐0970‐006 137.30 146.30 9.00 0.56 0.56 Area 51
FA‐18‐038* 564.00 570.10 6.10 0.79 0.79 Tabasco
FA‐18‐040 771.00 772.50 1.50 7.69 7.69 Area 51
FA‐19‐061* 90.00 102.50 12.50 0.68 0.68 Area 51
FA‐19‐077* 475.00 493.76 18.76 0.60 0.60 Tabasco
FA‐19‐086‐W1 448.50 463.10 14.60 0.86 0.86 Area 51
Including… 455.00 456.50 1.50 4.06 4.06 Area 51
FA‐20‐113* 447.50 459.60 12.10 1.24 1.24 Area 51
Including...PR'ed May 20,
2020 454.20 459.60 5.40 2.17 2.17 Area 51
FA‐20‐120 142.50 150.50 8.00 0.76 0.76 Area 51
FA‐20‐158 421.00 422.50 1.50 8.12 8.12 Area 51
FA‐20‐164 613.00 614.50 1.50 17.69 17.69 Area 51
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Table 1. Wallbridge Fenelon Gold Property, 2022 In‐fill Assay Highlights (1)
Drill Hole From To Length Au Au
Cut(2) VG(3) Zones
(m) (m) (m) (g/t) (g/t)
FA‐20‐164 638.50 648.50 10.00 0.50 0.50 Area 51
FA‐20‐204 198.00 199.50 1.50 6.80 6.80 Area 51
FA‐20‐210 1120.50 1122.00 1.50 7.40 7.40 Cayenne
FA‐21‐260* 372.00 399.50 27.50 2.13 2.13 Tabasco
Including*… 391.90 399.50 7.60 6.91 6.91 Tabasco
Which Includes… PR'ed
August 5, 2021 396.80 397.40 0.60 51.10 51.10 Tabasco
And Includes… 398.00 399.50 1.50 9.92 9.92 Tabasco
(1) Table includes only assay results received since the latest press release dated July 26, 2022.
(2) Au cut at: 110 g/t Au for the Tabasco/Contact /Cayenne zones; 75 g/t Au for the Area 51 zones.
(3) Intervals containing visible gold ("VG").
* 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 drill program at Fenelon ar e cut and bagged either on-site or by
contractors and transported to SGS Canada Inc. or Bureau Verita s Commodities Canada Ltd. for analysis.
Samples, standards and blanks are included for quality assuranc e and quality control, were prepared and
analyzed at the laboratories. Samples are crushed to 90% less t han 2mm. A 1kg riffle split is pulverized to
85% passing 75 microns. 50g samples are analyzed by fire assay and AAS or ICP. At SGS 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 additional quality assurance a nd quality control, Wallbridge requests screen
metallic analysis for samples containing visible gold. These an d 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 t his press release is Peter Lauder, P.Geo,
Exploration Manager of Wallbridge.
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About Wallbridge Mining
Wallbridge is focused on creating value through the discovery, acquisition, development, and production of
gold from a portfolio of advanced exploration stage assets loca ted in established mining jurisdictions within
Canada. Wallbridge’s flagship project, Fenelon, is located on t he highly prospective Detour-Fenelon Gold
Trend in Northern Abitibi, Quebec. A mineral resource estimate completed in 2021 validated the multi-
million-ounce gold potential of Fenelon as well as Wallbridge’s nearby Martiniere Property, incorporating a
combined 2.67 million ounces of indicated resources and 1.72 mi llion ounces of inferred resources. Fenelon
and Martiniere, located within a 910-square-kilometre explorati on land package controlled by Wallbridge,
have the potential to be developed into mines, and are close to existing power and transportation
infrastructure. Wallbridge also has interests in several copper , nickel and platinum group metal properties,
including a 17.8% interest in Lonmin Canada Inc.
Further information about Wallbridge can be found in the Company’s regulatory filings available on SEDAR
at www.sedar.com and on the Company’s website at www.wallbridgemining.com.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.
Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: [email protected]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains forward-looking
statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is
based on expectations, estimates, projections and interpretations as at the date of this press release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions,
estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”,
“believes”, “anticipates”, “plans”, “continues”, “budget”, “s cheduled”, “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”, “w ill”, “could”, “would”, “should” or “might”, “be taken”,
“occur” or “be achieved.”
FLI herein includes, but is not limited to: future drill resu lts; the Company’s ability to convert inferred resources into
measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and
methods used to estimate the mineral resource estimates (e ach an “MRE”) at the Fenelon and Martiniere properties
(collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance
of historic exploration activities and results.
FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may
not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown
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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, perfor mance or achievements expresse d or implied by such FLI.
Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure shar eholders and prospective purchasers of securities of the
Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be
as anticipated, estimated or intended, and neither the Co mpany nor any other person assumes responsibility for the
accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes
no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may
be required by law. Unless otherwise noted, this press release has been prepared based on information available as of
the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained
herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately
predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration
activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or
methods used to estimate the MREs; the ability of the Company to obtain required approvals; the results of exploration
activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-
governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s
ability to secure required funding, or operations. Risks and uncertainties about Wallbridge's business are more fully
discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at
www.sedar.com.
Covid‒19 ‒ Given the rapidly evolving natu re 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’s 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 an d stakeholders. Depending on the evoluti on of the virus, measures may affect
the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.
Information Concerning Estimates of Mineral Resources
The disclosure in this press release and referred to herein was prepared in accordance with NI 43-101 which differs
significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured
mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this press release are in
reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the
"CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained
in this press release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable
to similar information made public by other U.S. companies subject to the United States federal securities laws and the
rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves.
Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which
quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological
evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource
has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a
mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded
to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feas ibility or pre-feasibility studies, except in rare cases. Investors are cautioned
not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of
"contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only