WM.TO · 2018-10-02 12:00:00

Wallbridge intersects 74.90 g/t gold over 5.66 metres at its Fenelon Gold Property

Drill Results

Wallbridge intersects 74.90 g/t gold over 5.66

metres at its Fenelon Gold Property

TORONTO

Oct. 2, 2018

/CNW/ -

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

("Wallbridge"

or the "Company"

)

is pleased to announce continued positive results from its

underground drill program and to provide an update on the ongoing development as part of the

35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold

Property ("Fenelon").

Highlights

Visible gold was observed to be present in 41 of 68 holes drilled to date.

Since the last press release (see

Wallbridge Press Release dated

September 19, 2018

highlights of received assay results are as follows:

18-0990-011:

74.90 g/t gold over 5.66 metres

in the Habanero zone

18-0990-009:

5.73 g/t gold over 6.89 metres

in the Naga Viper zone

18-1035-013:

94.54 g/t gold over 1.00 metre

in the Anaheim zone

Assay results from 30 underground drill holes are pending.

Production from the second stope (NV-01) is now completed and development on the second

level (5180 Level) is nearing the CH-02 stope.

Over 10,000 tonnes of ore have been shipped to the Camflo mill and processing of the first

batch was completed last week. A final reconciliation of mill performance will be available in the

next few weeks.

"Our exploration results continue to exceed expectations," stated

Marz Kord

, President and CEO of

Wallbridge. "We are particularly pleased with the results from the Habanero Zone, a new zone which

is producing good grades and widths as demonstrated by the highlight intercept in this press

release. We look forward to more good results from this zone as we still have several holes with

visible gold with assays pending."

Underground drilling to date from the 5213 Level has mainly targeted the high-grade shoots down to

5130 Level (~120 m depth), which is the lowermost level that is planned to be developed during the

2018 bulk sample program. In the next few weeks drilling will focus on adding high grade resources

in the East Extension areas and at depth, below the 5130 Level.

A new underground drill station has been developed on the 5180 Level, which will be used to target

the main high-grade shoots down-plunge to

200 m

depth.

The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold

priced at

C$1,720

per ounce. The expected cash flow upon completion of this bulk sample, net of all

bulk sample costs and including the financing costs, is expected to be sufficient to cover the

budgeted working capital requirements.

The bulk sample program is designed to test a few stopes in several zones. Overall grade from

these planned stopes is estimated to average 18 to 25 g/t gold. The geology team has developed an

extensive sampling program to characterize the mineralized material during this bulk sample. Chip

samples are collected from a sampling line across each development face and muck samples are

also taken in a regular pattern on surface.

A 10,000-metre surface drilling program is now also underway to follow known mineralized zones

and expand resources at depth and further away from the mine workings.

A summary of the drill hole results from the underground drilling are reported in Tables 1 and 2 and

also shown on the

Figures

below as well as on the

Company website

Table 1. Wallbridge Fenelon Gold Property 2018 Underground Drill Assay Highlights

Drill Hole

From

Length

True

Width

Capped*

VG**

Zone

Press Release

(m)

(g/t)

18-1030-006

27.79

30.20

2.41

2.20

15.91

Chipotle

July 25, 2018

18-1030-006

Including...

28.50

29.11

0.61

0.56

59.10

Chipotle

July 25, 2018

18-1030-007

31.26

32.66

1.40

1.08

16.72

Chipotle

July 25, 2018

18-1030-008

34.47

38.06

3.59

2.76

9.27

Chipotle

July 25, 2018

18-1030-008

Including...

35.03

36.61

1.58

1.22

17.37

Chipotle

July 25, 2018

18-1030-009

77.58

81.00

3.42

2.70

35.91

Paprika

July 25, 2018

18-1030-009

Including...

78.90

80.60

1.70

1.34

63.33

Paprika

July 25, 2018

18-1030-010

81.00

81.42

0.42

0.32

13.60

Naga Viper

July 25, 2018

18-1030-011

80.10

85.50

5.40

4.37

10.05

Naga Viper

Aug 14, 2018

18-1030-012

68.30

71.26

2.96

1.33

10.09

Chipotle

Aug 14, 2018

18-1035-002

49.20

54.00

4.80

3.26

29.23

28.35

Chipotle

Aug 14, 2018

18-1035-002

Including...

49.97

52.95

2.98

2.03

46.30

44.89

Chipotle

Aug 14, 2018

18-1035-004

24.94

26.02

1.08

0.73

65.70

Fresno

Aug 14, 2018

18-1035-004

70.00

74.16

4.16

3.27

9.37

Naga Viper

Sept 19, 2018

18-1035-005

58.77

64.90

6.13

5.86

48.81

24.35

Naga Viper

Aug 28, 2018

18-1035-005

78.65

79.31

0.66

0.53

26.90

Paprika

Aug 28, 2018

18-1035-007

84.90

85.50

0.60

0.48

15.60

Habanero

Aug 28, 2018

18-1035-010

30.45

34.08

3.63

2.72

30.47

Chipotle

Aug 28, 2018

18-1035-010

Including...

32.90

34.08

1.18

0.89

91.94

Chipotle

Aug 28, 2018

18-1035-010

64.40

65.40

1.00

0.75

28.80

Paprika

Sept 5, 2018

18-1035-011

27.75

30.00

2.25

1.78

65.76

42.89

Chipotle

Sept 5, 2018

18-1035-011

56.50

60.50

2.95

2.36

11.09

Naga Viper

Sept 19, 2018

18-1035-012

28.01

28.56

0.55

0.44

28.30

Chipotle

Aug 14, 2018

18-1035-012

56.41

56.71

0.30

0.29

61.10

Naga Viper

Aug 14, 2018

18-1035-013

27.36

29.48

2.12

1.77

144.96

78.10

Chipotle

Sept 5, 2018

18-1035-013

41.00

42.00

1.00

0.91

94.54

Anaheim

Current Release

18-1035-013

Including...

27.99

29.15

1.16

0.97

262.18

140.00

Chipotle

Sept 5, 2018

18-1035-013

51.40

58.35

4.28

3.58

40.69

40.09

Naga Viper

Sept 5, 2018

18-1035-014

85.70

86.45

0.75

0.58

10.23

Naga Viper

Sept 19, 2018

18-1035-015

72.60

74.34

1.74

1.16

15.74

Chipotle

Sept 5, 2018

18-1035-017

56.00

66.13

10.13

5.51

50.31

25.18

Chipotle

Aug 28, 2018

18-1035-018

52.99

56.50

3.51

2.38

12.68

Chipotle

Sept 5, 2018

18-1035-018

63.70

69.00

5.30

3.60

9.04

Chipotle

Sept 5, 2018

18-1035-018

Including...

66.00

66.96

0.96

0.65

35.79

Chipotle

Sept 5, 2018

18-1035-019

47.00

55.00

8.00

5.56

27.10

24.69

Chipotle

Sept 5, 2018

18-1035-019

59.30

60.30

1.00

0.69

39.10

Chipotle

Sept 5, 2018

18-1035-019

72.50

77.35

4.85

4.10

137.63

88.38

Naga Viper

Sept 5, 2018

18-1075-001

26.14

28.41

2.27

1.82

18.54

Naga Viper

Sept 19, 2018

18-1080-001

21.00

21.50

0.50

0.40

611.00

140.00

Naga Viper

Sept 5, 2018

18-1080-003

35.70

37.20

1.50

1.00

19.24

Naga Viper

Sept 5, 2018

18-1080-003

Including...

35.70

36.18

0.48

0.32

58.20

Naga Viper

Sept 5, 2018

18-1080-006

19.30

21.00

1.70

1.59

12.80

Naga Viper

Sept 5, 2018

18-1080-006

Including...

20.48

21.00

0.52

0.49

39.80

Naga Viper

Sept 5, 2018

18-1080-006

36.88

41.23

4.35

4.08

3.05

Habanero

Sept 5, 2018

18-1080-006

Including...

40.52

41.23

0.71

0.67

11.10

Habanero

Sept 5, 2018

18-0990-006

104.52

109.10

3.50

2.33

39.47

23.32

Naga Viper

Sept 19, 2018

18-0990-007

101.30

101.90

0.60

0.40

204.00

140.00

Chipotle

Sept 19, 2018

18-0990-007

106.95

111.00

4.05

2.70

35.21

31.36

Naga Viper

Sept 19, 2018

18-0990-007

132.02

134.97

2.95

2.20

122.35

35.45

Habanero

Sept 19, 2018

18-0990-008

126.81

127.85

1.04

0.78

6.98

Habanero

Current Release

18-0990-009

91.85

98.74

6.89

3.60

5.73

Naga Viper

Current Release

18-0990-010

94.70

99.25

4.55

3.50

12.42

Paprika

Sept 19, 2018

18-0990-010

111.40

116.92

5.52

4.99

41.02

Habanero

Sept 19, 2018

18-0990-010

Including...

112.6

114.23

1.62

1.46

109.79

Habanero

Sept 19, 2018

18-0990-011

104.41

112.20

5.66

5.21

74.90

57.09

Habanero

Current Release

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

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

Table 2. Wallbridge Fenelon Gold Property 2018 Underground drill hole information*

Drill Hole ID

Local grid

Elevation

Length

(Metres)

Azimuth

Dip

VG**

Note

18-1035-011

10571

10997

5214

185

-11

Further Assays pending

18-1035-012

10572

10996

5214

203

-6

Further Assays pending

18-1035-013

10572

10996

5214

194

-8

18-1035-014

10571

10997

5214

115

184

-43

18-1035-015

10571

10997

5214

115

205

-44

18-1035-016

10571

10997

5214

105

185

-39

18-1035-017

10571

10997

5214

105

198

-41

18-1035-018

10571

10997

5214

100

185

-36

18-1035-019

10571

10997

5214

100

193

-36

18-1075-001

10592

10955

5214

227

-12

18-1075-002

10592

10955

5214

208

-8

18-1075-003

10592

10955

5214

208

-25

Further Assays pending

18-1080-001

10598

10949

5214

208

-25

18-1080-002

10598

10949

5214

208

-38

18-1080-003

10598

10949

5214

208

-48

18-1080-004

10598

10949

5214

185

-25

18-1080-005

10598

10949

5214

185

-37

18-1080-006

10598

10949

5214

185

-8

18-0990-006

10532

11019

5215

152

203

-48

18-0990-007

10532

11019

5215

149

208

-48

18-0990-008

10532

11019

5215

150

206

-45

18-0990-009

10532

11019

5215

135

208

-42

Further Assays pending

18-0990-010

10532

11019

5215

132

202

-40

18-0990-011

10532

11019

5215

120

202

-36

18-0990-012

10532

11019

5215

111

202

-28

18-0990-013

10532

11019

5215

132

208

-39

Further Assays pending

18-0990-014

10532

11019

5215

126

208

-36

Assays pending

18-0990-015

10532

11019

5215

105

209

-28

Assays pending

18-0990-016

10532

11019

5215

111

214

-15

Assays pending

18-0990-017

10532

11019

5215

152

211

-45

Assays pending

18-0990-018

10532

11019

5215

150

216

-46

Assays pending

18-1000-002

10540

11014

5215

156

204

-49

Assays pending

18-1000-003

10540

11014

5215

147

199

-46

Assays pending

18-1000-004

10540

11014

5215

126

205

-45

Assays pending

18-1000-005

10540

11014

5215

135

216

-46

Assays pending

18-1000-006

10540

11014

5215

131

199

-40

Assays pending

18-1000-007

10540

11014

5215

126

202

-38

Assays pending

18-1000-008

10540

11014

5215

111

202

-29

Assays pending

18-1000-009

10540

11014

5215

102

203

-20

Assays pending

18-1010-002

10549

11009

5214

150

201

-50

Assays pending

18-1010-003

10549

11009

5214

132

204

-44

Assays pending

18-1020-005

10556

11005

5214

141

205

-47

Assays pending

18-1020-006

10556

11005

5214

132

204

-44

Assays pending

18-0990-019

10532

11019

5215

162

230

-34

Assays pending

18-0990-020

10532

11019

5215

170

218

-48

Assays pending

18-0990-021

10532

11019

5215

138

220

-35

Assays pending

18-0990-022

10532

11019

5215

184

226

-46

Assays pending

18-0990-023

10532

11019

5215

163

223

-51

Assays pending

18-0990-024

10532

11019

5215

200

217

-55

Assays pending

18-0990-025

10532

11019

5215

216

233

-45

Assays pending

18-0990-026

10532

11019

5215

141

226

-26

Assays pending

* Table includes only underground holes drilled since July. For earlier holes please refer to tables in previous press releases.

**Intervals containing visible gold ("VG")

Wallbridge's Fenelon Gold Property is located in northwestern

Quebec

proximal to the Sunday Lake

Deformation Zone ("SLDZ") which hosts the Detour Gold Mine in

Ontario

, and Balmoral Resources'

gold deposits at Martiniere. The Fenelon Gold Property hosts the Discovery Zone gold deposit and

surrounding 4 km strike length of a gold-hosting secondary splay of the SLDZ.

Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate

and a positive pre-feasibility study on the existing resource (see

Wallbridge Press Release dated

February 02, 2017

). In addition, Wallbridge has completed surface

exploration drilling campaigns and is currently drilling from underground as part of its 35,000-tonne

bulk sample at Fenelon. Drilling to date has significantly extended existing zones and discovered

several new parallel zones.

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

for Wallbridge Mining Company Limited.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue

as well as organic growth through exploration and scalability.

Wallbridge is currently developing its 100%-owned high-grade

Fenelon Gold

property in

Quebec

with

ongoing exploration and a bulk sample in 2018. Wallbridge is also pursuing other additional

advanced-stage projects which would add to the Company's near-term project pipeline. These

discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently

mining the Broken Hammer deposit in

Sudbury

, which was completed in

October 2015

. Wallbridge is

also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects

Sudbury, Ontario

, with a focus on its high-grade Parkin project.

Wallbridge also has exposure to exploration for copper and gold in

Jamaica

and

British Columbia

through its 11.3% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources

Limited, a Wallbridge spin-out of its BC assets).

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/October2018/02/c4226.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]; David Ellis, Investor Relations,

Tel: (416) 704-0937, Email: [email protected]

CO: Wallbridge Mining Company Limited

CNW 08:20e 02-OCT-18

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