Wallbridge Files NI 43-101 Technical Report for Detour-Fenelon Gold Trend Property

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 Files NI 43-101 Technical Report for Detour-Fenelon Gold

Trend Property

Toronto, Ontario – March 3, 2023 – Wallbridge Mining Company Limited (TSX:WM,

OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced the filing of a National

Instrument 43 -101 (“NI 43- 101”) t echnical report (the “ Technical Report ”) in support of the

updated mineral resource estimates for the Fenelon and Martiniere deposits (combined, the

“Detour-Fenelon Gold Trend Property ”) located on Wallbridge’s 830 km 2 exploration land

package on the Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.

The Technical Report was prepared in accordance with Canadian Securities Administrators’ NI 43-

101 Standards of Disclosure for Mineral Projects and Form 43-101F1 and is available for review on

SEDAR (sedar.com) and the Company's website (wallbridgemining.com).

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of

gold projects along the Detour- Fenelon Gol d 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 in Québec’s Northern Abitibi region. An updated mineral

resource estimate completed in January 2023 yielded significantly improved grades and additional

ounces at the 100% -owned Fe nelon and Martiniere properties, incorporating a combined 3.05

million ounces of Indicated gold resources and 2.35 million ounces of Inferred gold resources.

Fenelon and Martiniere are located within an 830 km 2 exploration land package controll ed by

Wallbridge. The Company believes that these two deposits have good potential for economic

development, especially given their proximity to existing hydro- electric power and transportation

infrastructure. In addition, Wallbridge believes that the exte nsive land package is extremely

prospective for the discovery of additional gold deposits.

Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. (“Archer”)

as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec in November

of 2022.

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.

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]

WALLBRIDGE MINING COMPANY LIMITED

TSX| WM

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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 potential future performance of Archer

common 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 appropr iate 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,

or achievements of the Company to be materially different from any f uture 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 sharehold ers 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 undertake, and assumes no

obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, excep t

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 limit ation, include 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 Com pany 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.

WALLBRIDGE MINING COMPANY LIMITED

TSX| WM

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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 infor mation 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.

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 reso urces" under NI 43 -101 would be the

same had the Company prepared the resource estimates under the standards adopted under the SEC

Modernization Rules.