Wallbridge Files NI 43-101 Technical Report Supporting Positive Preliminary Economic Assessment for the Fenelon Gold Project in Quebec
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 Supporting Positive
Preliminary Economic Assessment for the Fenelon Gold Project in
Quebec
Toronto, Ontario – August 10 , 202 3 – 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”) technical report (the “Technical Report”) in support of its previously
announced preliminary economic assessment (“PEA”) for its Fenelon Gold project (“Fenelon”),
located on the Company’s Detour-Fenelon Gold Trend land package in Northern Abitibi, Quebec.
The Technical Report was prepared in accordance with Canadian Securities Admini strators’ NI 43-
101 Standards of Disclosure for Mineral Projects and Form 43-101F1 and is available for review on
SEDAR+ (sedarplus.ca) and the Company's website (wallbridgemining.com).
About Wallbridge
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, 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 Fenelon and Martiniere projects, 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 km2 exploration land package controlled by Wallbridge. In addition, Wallbridge
believes that the extensive land package is extremely prospective for the discovery of additional gold
deposits.
Wallbridge has reported a positive PEA on its 100% -owned Fenelon project with an estimated
average annual gold production of 212,000 ounces over 12.3 years.
Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. as a result
of the sale of the Company’s portfolio of nickel assets in Ontario and Québec in November of 2022.
Wallbridge will con tinue 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]
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Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Capital Markets 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 fa ct, 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”, “sche duled”, “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 may include, but is not limited to, statements regarding the results of the PEA, 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 mineral resource estimates (the “ 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 not, and cannot be, a
guarantee of future results or events.
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, 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 doe s 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
Assumptions upon which FLI is based, without limitation, 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 Company
to complete further exploration activities; potential changes in project parameters or economic
assessments; the legitimacy of title and property interests; the accuracy of key assumptions,
parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to
obtain required approvals; geological, mining and exploration technical problems; failure of
equipment or processes to operate as anticipated; the evolution of the global ec onomic climate;
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metal prices; foreign exchange rates; environmental expectations; community and nongovernmental
actions; any impacts of COVID-19; 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 plus.ca.
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.
Cautionary Note to United States Investors
Wallbridge prepares its disclosure in accordance with the requirements of securities laws in effect in
Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral
resources in this press release are defined in accordance with NI 43 -101 under the guidelines set
out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the
Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM
Standards"). The U.S. Securities and Exchange Commission (the "SEC") has adopted amendments
effective February 25, 2019 (the " SEC Modernization Rules") to its disclosure rules to modernize
the mineral property disclosure requirements for issuers whose securities are registered with the
SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC
Modernization Rules, the SEC will now recognize estimates of "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources", which are defined in substantially
similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions
of "proven mineral reserves" and "probable mineral reserves" to be substantially similar to the
corresponding CIM Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to
corresponding definitions under the CIM Standards, there are differences in the definitions under the
SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any mineral
resources that Wallbridge Mining may report as "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under NI 43 -101 would be the same had Wallbridge
Mining prepared the resource estimates under the standards adopted under the SEC Modernization
Rules. In accordance with Canadian securities laws, estimates of "inferred mineral resources" cannot
form the basis of feasibility or other economic studies, except in limited circumstances were permitted
under NI 43-101.