Wallbridge Declares Shareholder Distribution
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 Declares Shareholder Distribution
Toronto, Ontario – November 9 , 2022 – Wallbridge Mining Company Limited (TSX:WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”) today declared a distribution in specie of
48,168,138 common shares (“Archer Shares”) in the capital of Archer Exploration Corp. (“Archer”).
to shareholders of record of the Company on November 16, 2022 and payable on November 18,
2022. The Archer Shares will be issued in connection with the previously announced transaction
under which Archer will acquire all of the property, assets, rights, and obligations related to
Wallbridge’s portfolio of nickel assets (the “Transaction”).
The distribution will be subject to the due bill trading requirements of the Toronto Stock Exchange
(the "TSX"). The TSX requires that the Company’s common shares trade on a due bill basis from the
opening of trading on November 15, 2022 until the close of trading on the payment date of November
18, 2022. The Company’s common shares will commence trading on an ex-distribution basis (without
an attached due bill entitlement to the distribution) from the opening of trading on November 21,
2022. The due bills will be redeemed on November 22, 2022, once all trades with attached due bills
entered during the due bill period have settled. For further information on due bills, please refer t o
the Company’s management information circular dated September 7, 2022.
The distribution will be effected as a reduction in stated capital pursuant to Section 34(1)(b) of the
Business Corporations Act (Ontario) in accordance with the resolution approved by the Company’s
shareholders on October 18, 2022.
The distribution represents the payment of 0.0546 Archer Shares for every 1 Wallbridge common
share. The Archer Shares will be subject to resale restrictions under applicable Canadian securities
laws.
For further information, please see the Company’s management information circular dated
September 7, 2022 available at www.sedar.com.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold
projects along the Detour- Fenelon Gold Trend while respecting the environment and communities
where it operates.
Wallbridge’s flagship project, Fenelon Gold (“Fenelon”), is located on the highly prospective Detour-
Fenelon Gold Trend Property (“ Detour-Fenelon Gold Trend Property ”) in Quebec’s Northern
Abitibi region. A mineral resource estimate completed in 2021 validated the multi -million-
ounce potential of the 100%- owned Fenelon and Martiniere properties, incorporating a combined
2.67 million ounces of indicated gold resources and 1.72 million ounces of inferred gold resources.
Fenelon and Martiniere, located within a 910 km2 exploration land package controlled by Wallbridge,
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have the potential to be developed into mines and are close to existing power and transportation
infrastructure.
Wallbridge also holds a portfolio of nickel assets (“ Nickel Assets”) in Ontario and Quebec. In line
with its strategy to unlock the value of its Nickel Assets for shareholders, Wallbridge announced on
July 13, 2022, that it has entered into a definitive agreement with Archer Exploration Corp.
(“Archer”), pursuant to which, Archer will acquire all of Wallbridge’s property, assets, rights and
obligations related to its Nickel Assets, including Grasset, to create a focused and well -funded
publicly traded nickel exploration and development company.
Wallbridge will continue to focus on its core Detour- Fenelon Gold Trend Property while enabling
shareholders to participate in the potential economic upside in Archer.
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 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”, “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.”
FLI herein includes, but is not limited to, statements regarding the completion of the Transaction; the
issuance of the Archer Shares; future drill results; 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 (each 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 risks, uncertainties and other factors which may cause the actual results, performance,
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or achievements of the Company to be materially different from any future results, performance or
achievements expressed 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 shareholders 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 Company nor any other person assumes responsibility for the
accuracy and completeness of any such FLI. Except as required by law, the Company does not un dertake,
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 the Company and Archer to
obtain required approvals and satisfy the closing conditions under the definitive agreement (including
completion of the Financing by Archer), the results of exploration activities, the Company’s financial position
and general economic conditions, 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 evolution of
the global economic climate; metal prices; environmental expectations; community and non -governmental
actions; any impacts of COVID-19 on the Deposits; and, the Company’s ability to secure required funding.
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.
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 an d
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
feasibility 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 permits
issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
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Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards
in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules
under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC
Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1,
2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC
Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes
estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources".
Information regarding mineral resources contained or referenced in this press release may not be
comparable to similar information made public by companies that report according to U.S. standards. While
the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards,
readers are cautioned that there are differences between the SEC Modernization Rules and the CIM
Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may
report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources"
under NI 43-101 would be the same had the Company prepared the resource estimates under the standards
adopted under the SEC Modernization Rules.