WM.TO · 2019-10-09 12:00:00

Wallbridge Drills Significant, Wide Intersections of the Tabasco Zone at Depth and Continues to Successfully Delineate Gold Zones in Area 51

Drill Results

Wallbridge Drills Significant, Wide

Intersections of the Tabasco Zone at Depth

and Continues to Successfully Delineate Gold

Zones in Area 51

TORONTO

Oct. 9, 2019

/CNW/ -

Wallbridge Mining Company Limited (TSX:WM, FWB: WC7)

("Wallbridge" or the "Company")

is pleased to provide significant new high-grade assays and

visual results from the ongoing 70-80,000-metre 2019 drill program, which is continuing to follow up

the Area 51 and Tabasco discoveries and outline a large gold system at its 100%-owned Fenelon

Gold Property ("Fenelon" or the "Property").

The new drilling further demonstrates the significance of the Tabasco zone below a vertical depth of

400 metres, where it becomes wider, better endowed and is entirely open along strike and to depth.

Good continuities are being shown for several zones in the newly named Andromeda and Orion

corridors of Area 51 within the Jeremie Pluton and Area 51-style gold-bearing mineralization has

also been intersected 800 metres further along strike to the northwest.

"We are very excited about the two recent intersections of the Tabasco zone in holes FA-19-086

and FA-19-090 where visual results consistent with previously-reported assays confirm our modeling

and understanding of this zone and reinforcing its importance as one of Fenelon's best-endowed

gold zones," stated

Marz Kord

, President & CEO of Wallbridge Mining. "Drilling to date has also

outlined at least three continuous zones in the Andromeda corridor of Area 51, which are also

becoming more enriched and wider with depth. We have accelerated the sampling and assaying of

some of these significant intervals and will be reporting these assay results as soon as available."

Highlights

(since last

Wallbridge Press Release dated

September 09, 2019

)

Tabasco Zone

FA-19-086:

A significant, approximately 48-metre core length intersection of the Tabasco zone with

abundant sulfide mineralization and visible gold

(see Fig.

and

as well as

Photos 1-4).

Assay results are pending.

FA-19-090:

A significant, approximately 20-metre core length intersection of the Tabasco zone with

sulfide mineralization and visible gold

(see Fig.

and

). Assay results are pending.

Area 51 – Andromeda Corridor

FA-19-062:

3.08 g/t gold over 5.81 metres

, including

16.20 g/t gold over 0.80 metres.

This intersection is the

up-dip extension of a zone within the Andromeda corridor which thickens further below once it

enters the Jeremie Pluton (3.28 g/t gold over 17.60 metres in FA-19-059, see Fig.

FA-19-070:

2.67 g/t gold over 7.61 metres, including

6.00 g/t gold over 2.55 metres

(which further includes

25.49 g/t gold over 0.45 metres

)

This intersection is the up-dip extension of a zone within the

Andromeda corridor which thickens further below once it enters the Jeremie Pluton (2.43 g/t gold

over 42.80 metres, including 5.00 g/t gold over 12.71 metres in FA-19-065, see Fig.

FA-19-073:

A network of near surface gold-bearing veins within the Jeremie Pluton grading

1.04 g/t gold over

35.39 metres

, which includes the following higher-grade sub-intervals:

3.26 g/t gold over 5.95

metres

(including

41.19 g/t gold over 0.46 metres)

and

17.75 g/t gold over 0.40 metres.

Other

highlights include

4.10 g/t gold over 1.40 metres

and

10.43 g/t gold over 0.37 metres

(see Fig.

FA-19-086:

Several mineralized zones, two containing visible gold, over an approximately 200 metre core

length in the Area 51, Andromeda corridor.

FA-19-090:

Several mineralized zones over an approximately 230 metre core length in the Area 51,

Andromeda corridor.

19-0915-011:

Several mineralized zones, one containing visible gold, over an approximately 350 metre core

length in the Area 51, Andromeda corridor (see Fig.

and

). Assay results are pending.

19-0915-016:

Several mineralized zones, six containing visible gold, over an approximately 280 metre core length

in the Area 51, Andromeda corridor (see Fig.

and

). Assay results are pending.

Area 51 – Contact Zone

FA-19-072:

15.98 g/t gold over 2.31 metres

along the contact of the Jeremie pluton (see Fig.

Area 51 – Orion Corridor

FA-19-060:

A network of gold-bearing veins within the Jeremie Pluton in a newly discovered mineralized

corridor over 97 metres core length with highlight intersections of

9.27 g/t gold over 1.58 metres

and

2.20 g/t gold over 5.40 metres (

including

17.76 g/t gold over 0.50 metres)

(see Fig.

19-0970-006:

Several mineralized zones, two containing visible gold, over an approximately 70 metre core length

in the Area 51, Orion corridor (see Fig.

). Assay results are pending.

Cayenne Zone

FA-19-072:

12.77 g/t gold over 1.31 metres

(see Fig.

Main Gabbro Zones

FA-19-072:

3.58 g/t gold over 4.94 metres (

including

21.09 g/t gold over 0.65 metres)

14.53 g/t gold over 1.50 metres (

including

33.66 g/t gold over 0.62 metres)

(see Fig.

Jeremie Pluton– Grassroots Target

FA-19-089:

One Area 51-style shear zone with visible gold and other related, possibly gold-bearing veins 800

metres further northwest within the Jeremie Pluton in a grassroots geological-geophysical target.

Assay results are pending.

"The Tabasco zone is showing remarkable continuity and gold endowment at depth and we are now

drilling its down-dip extension with two drill rigs. Along the way, our holes also intersected strong

gold mineralization in the Andromeda corridor of Area 51 and we have now moved one of our

underground rigs to in-fill this mineralized area and better define several distinct, continuous zones.

Our other underground rig is now drilling the newly discovered Orion corridor of Area 51 and two

surface rigs are testing grassroots targets along strike of the known gold system", stated Attila

Péntek, Vice President Exploration of Wallbridge. "Holes -062, -064, -066, -069 and -070, tested the

up-dip extension of known zones in the sedimentary package near surface and will help model the

Area 51, Tabasco and Cayenne zones, which significantly widen at depth once they enter more

favorable host rocks".

Of the six drill rigs currently active on the Property, four are focusing on exploration drilling from

surface, doing large-spaced step-outs to define the footprint of the Fenelon gold system and two

underground drill rigs are doing more closely spaced drilling of the Tabasco zones and Area 51 near

the existing mine workings. A total of over 50,000 metres have been drilled to date in 2019 and the

drill program is on track to complete 70-80,000 metres by the end of the year.

Assay results are reported in Table 1 and the

Figures

for 9 surface drill holes (total of over 6,000

metres) of the 2019 exploration drill program. Assays are pending for 25 surface drill holes and 58

underground holes, for a total of approximately 30,000 metres. The Company's efforts to accelerate

the sampling and assaying process has now resulted in faster turn-around time of assay results and

we are expecting to release results more regularly.

All figures and a table with drill hole information of recently completed holes can be found on the

Company website

Table 1. Wallbridge Fenelon Gold Property 2019 Drill Assay Highlights

(1)

Drill Hole

From

Length

True

Width

Capped

(2)

(3)

Zone/Corridor

(m)

(g/t)

19-0915-

001

24.55

24.93

0.38

(4)

5.05

Cayenne

FA-19-054

506.85

510.64

3.79

2.01

Area 51, Contact

FA-19-057

169.00

170.36

1.36

1.12

Area 51

FA-19-060

234.53

234.83

0.30

2.99

Area 51, Orion

FA-19-060

263.40

268.80

5.40

2.20

Area 51, Orion

FA-19-060

Including …

268.30

268.80

0.50

17.76

Area 51, Orion

FA-19-060

271.62

272.32

0.70

1.92

Area 51, Orion

FA-19-060

296.68

298.60

1.92

2.81

Area 51, Orion

FA-19-060

332.10

332.90

0.80

2.75

Area 51, Orion

FA-19-060

359.42

361.00

1.58

9.27

Area 51, Orion

FA-19-062

233.03

238.84

5.81

3.08

Area 51, Andromeda

FA-19-062

Including …

238.04

238.84

0.80

16.20

Area 51, Andromeda

FA-19-062

473.41

474.60

1.19

2.08

Tabasco/Cayenne?

FA-19-062

515.07

515.60

0.53

1.43

Tabasco/Cayenne?

FA-19-063

188.29

192.00

3.71

1.26

Area 51, Andromeda

FA-19-063

381.44

382.80

1.36

1.37

Area 51, Contact

FA-19-063

387.88

388.94

1.06

1.13

Area 51, Contact

FA-19-064

118.07

118.95

0.88

1.02

Area 51, Andromeda

FA-19-064

375.30

376.08

0.78

2.59

Cayenne

FA-19-069

125.80

127.00

1.20

1.06

Area 51, Andromeda

FA-19-069

190.00

191.03

1.03

3.10

Area 51, Andromeda

FA-19-069

269.07

270.36

1.29

3.37

Area 51, Andromeda

FA-19-069

277.43

279.45

2.02

2.58

Area 51, Andromeda

FA-19-069

295.13

295.97

0.84

1.28

Area 51, Andromeda

FA-19-069

326.16

326.74

0.58

3.37

Area 51, Andromeda

FA-19-069

332.56

333.26

0.70

6.16

Area 51, Andromeda

FA-19-069

349.92

351.03

1.11

1.05

Area 51, Andromeda

FA-19-069

364.18

370.00

5.82

1.61

Area 51, Andromeda

FA-19-069

398.60

399.85

1.25

1.08

Area 51, Andromeda

FA-19-069

485.86

486.40

0.54

1.08

Area 51, Andromeda

FA-19-069

551.10

551.91

0.81

1.09

Tabasco

FA-19-069

556.00

557.38

1.38

1.65

Tabasco

FA-19-069

565.32

569.48

4.16

1.16

Tabasco

FA-19-069

Including…

569.08

569.48

0.40

5.40

Tabasco

FA-19-070

87.22

88.08

0.86

1.12

Area 51, Andromeda

FA-19-070

119.90

121.31

1.41

1.24

Area 51, Andromeda

FA-19-070

210.00

211.18

1.18

3.71

Area 51, Andromeda

FA-19-070

296.63

304.24

7.61

2.67

Area 51, Andromeda

FA-19-070

Including…

298.73

299.18

0.45

25.49

Area 51, Andromeda

FA-19-070

330.74

331.51

0.77

1.06

Area 51, Andromeda

FA-19-070

341.07

346.57

5.50

0.81

Area 51, Andromeda

FA-19-070

372.00

372.53

0.53

1.50

Area 51, Andromeda

FA-19-070

377.62

377.95

0.33

6.44

Area 51, Andromeda

FA-19-070

395.70

396.00

0.30

1.17

Area 51, Andromeda

FA-19-070

446.66

447.44

0.78

2.10

Area 51, Contact

FA-19-070

548.28

555.77

7.49

1.71

Tabasco

FA-19-070

Including…

550.09

552

1.91

4.03

Tabasco

FA-19-072

75.35

75.70

0.35

19.00

Area 51, Andromeda

FA-19-072

319.20

319.60

0.40

14.16

Area 51, Andromeda

FA-19-072

362.53

364.84

2.31

15.98

Area 51, Andromeda

FA-19-072

Including…

362.53

363.84

1.31

27.25

Area 51, Andromeda

FA-19-072

441.95

443.37

1.42

2.06

Area 51, Contact

FA-19-072

502.03

502.89

0.86

2.45

Tabasco

FA-19-072

592.36

593.00

0.64

25.82

Cayenne

FA-19-072

633.35

638.29

4.94

3.58

Main Gabbro Zones

FA-19-072

Including…

633.35

634.00

0.65

21.09

Main Gabbro Zones

FA-19-072

696.00

697.50

1.50

14.53

Main Gabbro Zones

FA-19-072

Including…

696.00

696.62

0.62

33.66

Main Gabbro Zones

FA-19-073

88.61

89.00

0.39

1.96

Area 51, Andromeda

FA-19-073

107.54

108.00

0.46

41.19

Area 51, Andromeda

FA-19-073

128.68

142.93

14.25

1.08

Area 51, Andromeda

FA-19-073

Including…

128.68

129.08

0.40

17.75

Area 51, Andromeda

FA-19-073

157.33

158.63

1.30

1.24

Area 51, Andromeda

FA-19-073

219.54

220.25

0.71

3.65

Area 51, Andromeda

FA-19-073

238.13

238.50

0.37

10.43

Area 51, Andromeda

FA-19-073

261.63

262.78

1.15

1.22

Area 51, Andromeda

FA-19-073

278.11

279.00

0.89

1.13

Area 51, Andromeda

FA-19-073

300.71

302.03

1.32

4.10

Area 51, Andromeda

FA-19-073

345.63

346.16

0.53

1.50

Area 51, Contact

FA-19-073

354.00

354.40

0.40

2.04

Area 51, Contact

FA-19-073

373.98

374.41

0.43

3.56

Area 51, Contact

FA-19-073

478.14

479.20

1.06

2.58

Area 51, Contact

FA-19-073

525.51

526.60

1.09

1.22

Tabasco

FA-19-073

698.25

699.09

0.84

1.41

Cayenne

FA-19-073

721.36

722.14

0.78

3.07

Cayenne

(1)

Table includes only highlight assay results received since the latest press release

(2)

Au capped at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate

(3)

Intervals containing visible gold ("VG")

(4)

Currently not enough information available to estimate true width

The Fenelon Gold Property is located proximal to the Sunday Lake Deformation Zone, an emerging

gold belt in northwestern

Quebec

. This major east-west structure in the northern Abitibi greenstone

belt hosts the Detour Lake mine, and is very similar to other breaks controlling world-class gold

camps in the southern Abitibi, yet it remains underexplored due to thick overburden cover.

At Fenelon, secondary splays of the Sunday Lake Deformation Zone have controlled the

emplacement of a significant gold system along the Jeremie Pluton. Historically, exploration has

focused on high-grade shear zones hosted in the Main Gabbro, and this where Wallbridge has

completed a bulk sample of 33,000 tonnes grading 18.49 g/t gold.

In late 2018, exploration drilling discovered a new geologic setting with extensive, vein network gold

mineralization within the pluton, naming it Area 51. The ongoing 70,000-

80,000 m

drill program is

proving the connectivity of Area 51 through the sediment-hosted Tabasco and Cayenne zones to the

Main Gabbro and is continuing to expand the footprint and depth extent of the Fenelon gold system.

Drill core samples from the ongoing drill program at Fenelon were cut and bagged on site and

transported to SGS Canada Inc. Samples, along with standards, blanks, and duplicates included for

quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. laboratories.

Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106

microns. 50g samples are analyzed by fire assay and AAS. 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 Persons responsible for the technical content of this press release are

Marz Kord

, P.

Eng., M. Sc., MBA, President & CEO and Attila Péntek, P.Geo., Ph.D., Vice President Exploration

of Wallbridge.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable + 100,000 -ounce gold

production as well as organic growth through exploration and scalability.

The Company is currently developing its 100%-owned Fenelon Gold Property, which is located

proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern

Quebec

with

ongoing 70-

80,000 m

exploration drill program in 2019 and a recently-completed 35,000-tonne bulk

sample. Wallbridge is also pursuing additional advanced-stage projects which would add to the

Company's near-term project pipeline. Wallbridge is also continuing partner-funded exploration on its

large portfolio of nickel, copper, and PGM projects in

Sudbury, Ontario

, with a focus on its high-

grade Parkin project.

This press release may contain forward-looking statements (including "forward-looking

information" within the meaning of applicable Canadian securities legislation and "forward-

looking statements" within the meaning of the US Private Securities Litigation Reform Act of

1995) relating to, among other things, the operations of Wallbridge and the environment in

which it operates. Generally, forward-looking statements can be identified by the use of

words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",

"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or

variations of such words and phrases or statements that certain actions, events or results

"may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Wallbridge has

relied on a number of assumptions and estimates in making such forward-looking

statements, including, without limitation, the costs associated with the development and

operation of its properties. Such assumptions and estimates are made in light of the trends

and conditions that are considered to be relevant and reasonable based on information

available and the circumstances existing at this time. A number of risk factors may cause

actual results, level of activity, performance or outcomes of such exploration and/or mine

development to be materially different from those expressed or implied by such forward-

looking statements including, without limitation, whether such discoveries will result in

commercially viable quantities of such mineralized materials, the possibility of changes to

project parameters as plans continue to be refined, the ability to execute planned

exploration and future drilling programs, the need for additional funding to continue

exploration and development efforts, changes in general economic, market and business

conditions, and those other risks set forth in Wallbridge's most recent annual information

form under the heading "Risk Factors" and in its other public filings. Forward-looking

statements are not guarantees of future performance and such information is inherently

subject to known and unknown risks, uncertainties and other factors that are difficult to

predict and may be beyond the control of Wallbridge. Although Wallbridge has attempted to

identify important risks and factors that could cause actual actions, events or results to

differ materially from those described in forward-looking statements, there may be other

factors and risks that cause actions, events or results not to be as anticipated, estimated or

intended. Consequently, undue reliance should not be placed on such forward-looking

statements. In addition, all forward-looking statements in this press release are given as of

the date hereof.

Wallbridge disclaims any intention or obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise, save and

except as may be required by applicable securities laws. The forward-looking statements

contained herein are expressly qualified by this disclaimer.

SOURCE

Wallbridge Mining Company Limited

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/October2019/09/c6375.html

%SEDAR: 00010252E

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: [email protected]; Brian Penny, Chief Financial

Officer, Tel: (416) 716-8346, Email: [email protected]

CO: Wallbridge Mining Company Limited

CNW 07:30e 09-OCT-19

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