WM.TO · 2019-10-21 12:00:00

Wallbridge Exploration Drilling Intersects 27.00 g/t Au over 38.39 metres in the Tabasco Zone

Drill Results

Wallbridge Exploration Drilling Intersects

27.00 g/t Au over 38.39 metres in the Tabasco

Zone

TORONTO

Oct. 21, 2019

/CNW/ -

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

("Wallbridge" or the "Company")

is pleased to announce assay 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").

Drill hole FA-19-086, which was visually described in the last

Wallbridge Press Release dated

October 09, 2019

, assayed

27.00 g/t Au over 38.39 metres

in the

Tabasco zone at a vertical depth of 500 metres, further demonstrating the significant gold

endowment of the gold system at depth. Further assay results from this hole are pending.

"This interval released from hole FA-19-086 is a truly spectacular intersection with strong gold

mineralization throughout the over

38 m

core length that has been assayed so far", stated Attila

Péntek, Vice President Exploration of Wallbridge. "We are keenly awaiting further assay results of

surrounding batches from this hole which, based on the mineral assemblages described, should

carry some additional gold mineralization. Holes FA-19-090 and FA-19-092, 100 to

150 m

away also

returned mineralized intersections of significant width along with some visible gold mineralization in

the Tabasco zone. These new intersections for which assays are not yet available, along with 20.89

g/t Au over 8.54 metres intersected in FA-19-052 (Tabasco), 17.58 g/t Au over 11.04 metres in FA-

19-059 (Cayenne) and 5.50 g/t Au over 10.96 metres in FA-19-065 (Tabasco) make us very excited

about the potential of the Fenelon gold system at depth."

"We couldn't be more pleased to receive these exceptional assay results from the Tabasco zone in

hole FA-19-086, which confirmed our visual assessment about the significance of this intersection",

stated

Marz Kord

, President & CEO of Wallbridge Mining. "We are very proud of the rapid

exploration success we have achieved in 2019: a year ago we only had a conceptual model of the

gold zones below 200 metres vertical depth and now we have several significant, high-grade

intersections at 500 to 600 meters depth. We have now accelerated the deep exploration to

continue following these high-grade zones to depth, in order that we may plan for a greatly

expanded drill program in 2020, which will provide us with the data required to complete a property

wide resource/reserve estimate in early 2021."

Highlights:

Tabasco Zone

FA-19-086:

27.00 g/t Au (22.17 g/t Au cut) over 38.39 metres

, including

75.02 g/t Au (73.71 g/t Au cut) over 3.83 metres

and

82.61 g/t Au (58.60 g/t Au cut) over 7.51 metres,

which further includes

201.73 g/t Au (130.47 g/t Au cut) over 2.53 metres

Note: Drill hole composites reported as "cut" contain higher grade samples that have been cut to 140 g/t Au. There is currently not enough information available to estimate true

widths. Further assay results from this hole are pending.

FA-19-092:

A significant, 20-metre core length intersection of the Tabasco zone with sulfide mineralization and visible gold.

Area 51 – Andromeda Corridor

FA-19-092:

Several mineralized zones, two containing visible gold, over an approximately 200 metre core length in the Area 51, Andromeda corridor.

19-0915-018:

Several mineralized zones, two containing visible gold, over an approximately 250 metre core length in the Area 51, Andromeda corridor.

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 56,000 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.

Partial assay results for one surface drill hole (FA-19-086) and complete assay results for nine

underground holes (for a total of approximately 2,200 metres) of the 2019 exploration drill program

are reported in Table 1 and the

Figures

. Assays, including further results from hole FA-19-086, are

pending for 28 surface drill holes and 53 underground holes, for a total of approximately 31,000

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

Au Cut

(2)

(3)

Zone/Corridor

(m)

(g/t)

FA-19-086

600.85

639.24

38.39

(4)

27.00

22.17

Tabasco

FA-19-086

Including...

602.75

606.58

3.83

75.02

73.71

Tabasco

FA-19-086

And...

616.96

624.47

7.51

82.61

58.60

Tabasco

FA-19-086

Which includes...

617.51

620.04

2.53

201.73

130.47

Tabasco

FA-19-086

And...

637.44

637.94

0.50

57.17

Tabasco

19-0915-002

No assays greater than 1 g/t Au

19-0925-016

No assays greater than 1 g/t Au

19-0955-005

56.83

57.50

0.67

0.33

4.06

Cayenne

19-0955-005

108.56

109.20

0.64

0.31

5.47

Habanero

19-1000-003

121.02

132.00

10.98

7.81

1.37

Naga Viper

19-1000-003

Including...

123.00

124.20

1.20

0.85

3.38

Naga Viper

19-1000-003

And...

127.70

129.10

1.40

0.99

3.04

Naga Viper

19-1000-004

No assays greater than 1 g/t Au

19-1000-007

265.42

265.77

0.35

1.03

Area 51, Orion

19-1000-007

330.26

331.00

0.74

2.21

Area 51, Orion

19-1000-007

379.54

380.15

0.61

3.61

Area 51, Orion

19-1000-007

463.56

464.48

0.92

2.76

Area 51, Orion

19-1000-007

471.55

472.48

0.93

3.21

Area 51, Orion

19-1035-009

No assays greater than 1 g/t Au

19-1035-013

49.92

55.51

5.59

2.81

1.54

Cayenne

19-1035-013

Including...

49.92

51.17

1.25

0.63

4.19

Cayenne

19-5140-002

No assays greater than 1 g/t Au

(1)

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

(2)

Au cut 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 33,500 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 33,500-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

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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 17:44e 21-OCT-19

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