WM.TO · 2020-07-13 12:00:00

Wallbridge Intersects 4.06 g/t gold over 51.70 metres in Tabasco, 4.88 g/t gold over 18.95 metres in the Main Gabbro and 15.73 g/t gold over 3.00 metres in Area 51

Drill Results

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 Intersects 4.06 g/t gold over 51.70 metres in Tabasco, 4.88 g/t gold over 18.95 metres in the

Main Gabbro and 15.73 g/t gold over 3.00 metres in Area 51

Toronto, Ontario – July 13, 2020 – Wallbridge Mining Company Li mited (TSX:WM) (“Wallbridge” or the

“Company”) is pleased to report today the first assay results received since the resumption of activities after the

suspension of work due to COVID-19, and provide an update of th e ongoing, fully-funded 80,000-100,000 metre 2020

drill program at its 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”).

Highlights

Main Gabbro in-fill drilling continues to define high-grade shoots near existing mine workings (see Fig. 1)

20-1100-011: 4.88 g/t Au over 18.95 metres, including 96.90 g/t Au over 0.70 metre in the Serrano Zone

20-1100-010: 5.84 g/t Au over 6.80 metres, including 37.70 g/t Au over 1.00 metre in the Serrano Zone

Tabasco-Cayenne step-out drilling extends mineralization over 100 metres down-plunge (see Fig. 2)

FA-20-134: 4.06 g/t Au over 51.70 metres. This intercept includes 8.41 g/t Au over 19.15 metres (which

further includes 41.01 g/t Au over 3.65 metres) as announced in Wallbridge’s press release dated

May 20, 2020, and new assay results including 4.44 g/t Au over 9.75 metres received since the

resumption of activities after the COVID-19 suspension

Area 51 in-fill drilling continues to demonstrate near surface, potentially open pittable zones (see Figs. 3 and 4)

FA-20-125: 15.73 g/t Au over 3.00 metres in the Andromeda Zone

FA-20-136: 1.17 g/t Au over 38.50 metres, including 47.40 g/t Au over 0.50 metre in the Titan Zone

FA-20-135: 1.38 g/t Au over 16.70 metres , including 2.85 g/t Au over 4.70 metres in the Andromeda and

Interstellar Zones

FA-20-131: 1.16 g/t Au over 16.50 metres, including 7.50 g/t Au over 1.50 metres in the Andromeda Zone

“We are excited to have ramped up the drilling program to six d rill rigs again and thank all the employees, service

providers and local communities for working together to safely execute our exploration activities in these challenging

times amidst the COVID-19 pandemic,” stated Attila Péntek, Vice President Exploration of W allbridge. “In addition to

continuing our expans ion and in-fill drilling in the Tabasco-Ca yenne-Area 51 gold system, we are very pleased with the

first results of our near surface in-fill drill program testing the Titan and Andromeda zone s in Area 51. With several

potentially bulk mineable zones showing good continuities near surface, as seen in figures 3 and 4 of this release, an open

pit component to a future resource is starting to become more a nd more tangible. With appr oximately 15,000 metres of

drilling completed since the resumption of drilling activities, the assay labs are again processing a pipeline of our samples

and we are looking forward to a steady flow of assay results.”

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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2020 Drilling Program Update

As announced previously, exploration activities at Fenelon were temporarily suspended from March 23 to Mid-May, 2020

due to COVID-19. The program has been gradually restarted in cl ose consultation with the local communities ensuring

the safety of all stakeholders.

Currently, four of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original

Fenelon Gold Property, doing a combination of 50-100-metre step -outs and tighter-spaced in-fill drilling. The Company

estimates approximately 80,000 metres of drilling will be compl eted as part of this program by year-end, with 35,000

metres completed to date.

The other two drill rigs are active on the newly-acquired porti on of the Fenelon Gold Property to follow-up on the Reaper

and Ripley gold discoveries made in 2019 and 2020 by the Balmor al Resources Ltd. ( “Balmoral”) exploration team and

to test the extensions of the Ta basco-Cayenne-Area 51 gold syst em onto this adjacent ground. Wallbridge is planning to

complete approximately 20,000 metres of drilling in 2020 on the new ground acquired from Balmoral, with over 3,000

metres completed to date.

Assay results of 11 surface holes as well as 13 underground holes of the 2020 exploration drill program are reported in the

Tables and Figures below. All figures and a table with drill hole information of recently completed holes can be found at

https://www.wallbridgemining.com/s/fenelon.asp.

Figure 1. Fenelon Gold, Main Gabbro Longitudinal Section

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Figure 2. Fenelon Gold, Tabasco Shear System Longitudinal Section

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Figure 3. Fenelon Gold, Cross Section 9975_E

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Figure 4. Fenelon Gold, Cross Section 10050_E

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Table 1. Wallbridge Fenelon Gold Property, Main Gabbro Zone, 2020 Drill Assay Highlights [1]

Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section

(m) (m) (m) (g/t) (g/t)

20‐1080‐003 No Significant Mineralization(4)

20‐1080‐004 No Significant Mineralization(4)

20‐1080‐005 2.30 21.50 19.20 1.01 1.01 Serrano 10575

Including… 2.30 4.35 2.05 3.77 3.77 Serrano 10575

And… 20.00 21.50 1.50 5.71 5.71 Serrano 10575

20‐1100‐004 47.40 65.10 8.45 1.76 1.76 Serrano 10650

Including… 62.55 65.10 2.55 4.19 4.19 Serrano 10650

20‐1100‐005 No Significant Mineralization(4)

20‐1100‐006 No Significant Mineralization(4)

20‐1100‐007 No Significant Mineralization(4)

20‐1100‐008 No Significant Mineralization(4)

20‐1100‐009 No Significant Mineralization(4)

20‐1100‐010 58.3 65.1 6.80 5.84 5.84 Serrano 10650

Including… 58.3 59.3 1.00 37.70 37.70 Serrano 10650

20‐1100‐011 47.75 66.7 18.95 4.88 4.88 VG Serrano 10650

Including… 47.75 48.45 0.70 96.90 96.90 VG Serrano 10650

And… 58 66.7 8.70 2.72 2.72 Serrano 10650

20‐1105‐003 No Significant Mineralization(4)

(1) Table includes only highlight assay results received since the latest press release on Main Gabbro Zone results dated May 19, 2020.

(2) Au assays cut at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.

(3) Intervals containing visible gold ("VG").

(4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au

Note: True widths are estimated to be 50-80% of the reported core length intervals

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Table 2. Wallbridge Fenelon Gold Property, Tabasco‐Cayenne 2020 Drill Assay Highlights [1]

Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section

(m) (m) (m) (g/t) (g/t)

FA‐20‐133 966.00 985.00 19.00 1.60 1.60 VG Tabasco 10125

Including… 966.00 968.00 4.00 5.56 5.56 VG Tabasco 10125

And… 983.00 985.00 2.00 3.49 3.49 VG Tabasco 10125

FA‐20‐133 1013.45 1018.00 4.55 3.48 3.48 Cayenne 10125

Including… 1013.45 1014.55 1.10 9.94 9.94 Cayenne 10125

FA‐20‐134 1001.45 1053.15 51.70 4.06 4.06 VG Tabasco 9975

Including…(4) 1001.45 1020.60 19.15 8.41 8.41 VG Tabasco 9975

Which

Includes…(4) 1001.45 1005.10 3.65 41.01 41.01 VG Tabasco 9975

And… 1043.40 1091.90 9.75 4.44 4.44 VG Cayenne 9975

(1) Table includes only highlight assay results received since the latest press release on Tabasco-Cayenne Zone results dated May 20, 2020.

(2) Au assays cut at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.

(3) Intervals containing visible gold ("VG").

(4) Interval from 1001.45 to 1020.60m p reviously reported in Wallb ridge Press Release dated May 20, 2020 "Wallbridge Expands Taba sco Cayenne

Shear Zone Gold Mineralization at Fenelon".

Note: True widths are estimated to be 50-80% of the reported core length intervals

Table 3. Wallbridge Fenelon Gold Property 2019 & 2020 Drill Assay Highlights [1]

Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section

(m) (m) (m) (g/t) (g/t)

19‐0970‐008 298.15 301.7 3.55 1.60 1.60 Area 51‐ New Zone 10425

FA‐20‐120A 1557.30 1565.50 8.20 1.42 1.42 Area 51‐ Titan Zone 1 9900

Including… 1557.30 1559.85 2.55 3.17 3.17 Area 51‐ Titan Zone 1 9900

FA‐20‐125 69.00 72.00 3.00 15.73 15.73 Area 51‐ Andromeda

Zone 3 9975

Including… 69.00 70.50 1.50 30.50 30.50 Area 51‐ Andromeda

Zone 3 9975

FA‐20‐125 143.70 150.00 6.30 1.41 1.41 VG Area 51‐ Andromeda

Zone 1 9975

Including… 143.70 144.30 0.60 7.25 7.25 VG Area 51‐ Andromeda

Zone 1 9975

WALLBRIDGE MINING COMPANY LIMITED TSX| WM

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Table 3. Wallbridge Fenelon Gold Property 2019 & 2020 Drill Assay Highlights [1]

Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section

(m) (m) (m) (g/t) (g/t)

FA‐20‐125 175.00 180.00 5.00 2.75 2.75 Area 51‐ Interstellar Zone

3 9975

Including… 175.00 176.00 1.00 10.10 10.10 Area 51‐ Interstellar Zone

3 9975

FA‐20‐130 No Significant Mineralization(4)

FA‐20‐131 114.95 120.45 5.50 1.13 1.13 VG Area 51‐ Andromeda

Zone 2 9975

FA‐20‐131 225 241.5 16.50 1.16 1.16 Area 51‐ Interstellar Zone

2 9975

Including… 225 226.5 1.50 4.66 4.66 Area 51‐ Interstellar Zone

2 9975

And… 240 241.5 1.50 7.50 7.50 Area 51‐ Interstellar Zone

2 9975

FA‐20‐133 924.00 930.00 6.00 2.28 2.28 VG Area 51‐ Milky Way Zone

3 10050

Including… 924.00 925.00 1.00 11.77 11.77 VG Area 51‐ Milky Way Zone

3 10050

FA‐20‐135 144.00 160.70 16.70 1.38 1.38 VG

Area 51‐ Andromeda

Zone 1 and Interstellar

Zone 3

10050

Including… 156.00 160.70 4.70 2.85 2.85 VG

Area 51‐ Andromeda

Zone 1 and Interstellar

Zone 3

10050

FA‐20‐136 84.00 85.50 1.50 6.44 6.44 Area 51‐ Titan Zone 4 10 050

FA‐20‐136 113.50 152.00 38.50 1.17 1. 17 VG Area 51‐ Titan Zone 3 & 4 10050

Including… 113.50 114.00 0.50 10. 20 10.20 VG Area 51‐ Titan Zon e 3 & 4 10050

And… 151.50 152.00 0.50 47.40 47.40 VG Area 51‐ Titan Zone 3 & 4 10050

FA‐20‐136 188.30 188.80 0.50 11.60 11. 60 VG Area 51‐ Titan Zone 1 10050

FA‐20‐136 222.00 223.50 1.50 4.60 4.60 Area 51‐ Laika Zone 3 10050

FA‐20‐140 64.00 65.50 1.50 3.99 3.99 Area 51‐ New Zone 10275

FA‐20‐140 114.00 115.00 1.00 7.59 7.59 Area 51‐ New Zone 10275

FA‐20‐141 No Significant Mineralization(4)

(1) Table includes only highlight assay results received since the latest press release on Area 51 results dated May 20, 2020.

(2) Au assays cut at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.

(3) Intervals containing visible gold ("VG").

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