Wallbridge Ramps Up Drilling at Martiniere Property as New Assay Results Demonstrate Resource Growth Potential
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 Ramps Up Drilling at Martiniere Property as New Assay Results
Demonstrate Resource Growth Potential
Toronto, Ontario – February 2, 2022 – Wallbridge Mining Company Limited (TSX:WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company” ) today announced positive assay results that
continue to validate the resource growth potential of the Marti niere Gold Property (“Martiniere” o r t h e
“Property”), located within the Company’s highl y prospective, 910-square-kil ometre land package on the
Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.
The results announced today extend gold mineralization at depth and are starting to establish a connection
between the Martiniere West and Bug Lake Trends, demonstrating that they are part of a continuous deposit.
After completing approximately 9,380 metres in its initial, 202 1 drill program at Martiniere, the Company
plans to drill approximately 40,000 metres at the Property in 2 022 with two drill rigs now mobilized at the
site.
“With each new set of results, we are increasingly confident in the substantial growth potential of Martiniere,
and, combined with our Fenelon project, we see the potential fo r the emergence of a significant new gold
producing district at the heart of our land package in the prolific Abitibi gold belt,” said Marz Kord, President
and CEO of Wallbridge. “Our first drill program at Martiniere, completed in November 2021, has
demonstrated the growth potential of this deposit and based on this success, our 2022 program at Martiniere
is much larger than last year’s. We are optimistic that further drilling will continue to prove up the connectivity
of these zones, resulting in a more continuous deposit that wil l allow us to optimize the Martiniere open pit
design, strengthen the project’s overall economics and deliver the updated mineral resource in 2023.”
Martiniere and Fenelon are located close to existing infrastructure, with electricity transmission lines less than
20 kilometers away, and year-round road access on a maintained highway approximately 120 kilometres from
air and rail connections in Matagami, Quebec.
Resource Expansion Drill Results
Highlight expansion intersections since the last news release from this program include:
MDE-21-338 46.76 g/t Au over 2.40 metres , including
129.90 g/t Au over 0.85 metre , extending the Martiniere Central
Zone to a vertical depth of 300 metres, 210 metres below the 20 21
MRE. Further assays around this interval are pending.
MDE-21-331 77.89 g/t Au over 1.00 metres in the interpreted southeast extension of the
Bug Lake North trend and outside of the 2021 MRE.
MDE-21-332 3.18 g/t Au over 9.40 metres , including
7.83 g/t Au over 2.70 metres, extending the Bug Lake North high-
grade shoot by 130 metres along strike to the southeast, outsid e of
the 2021 MRE.
MDE-21-333 6.99 g/t Au over 4.80 metres , located between the Martiniere Central and
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the Bug Lake North zones;
MDE-21-336 7.26 g/t Au over 3.60 metres , located between the Martiniere West and
the Martiniere Central zones;
Resource In-fill Drill Results
Highlight expansion intersections since the last news release from this program include:
MDE-21-329 2.37 g/t Au over 19.00 metres , including
4.94 g/t Au over 8.10 metres , in the Bug Lake North trend at a
vertical depth of 215 metres.
Assay results from nine drill holes of the 2021 Martiniere drill program are reported in the Table and Figures
below. Further assays results are pending for four drill holes of the 2021 program. All figures and a table with
drill hole information of recently completed holes are posted o n the Company’s website under “Current
Program” at https://www.wallbridgemining.com/s/fenelon.asp.
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Figure 1. Martiniere Gold, Plan View
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Figure 2. Martiniere Gold, Bug Lake Trend Long Section
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Figure 3. Martiniere Gold, Martiniere West Trend Long Section
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Table 1. Regional Gold Property, Recent Drill Assay Highlights (1)
Drill Hole From To Length Au Au
Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
MDE‐21‐329 260.00 279.00 19.00 2.37 2.37 Bug Lake North
Including… 260.00 268.10 8.10 4.94 4.94 Bug Lake North
MDE‐21‐331 177.5 178.5 1.00 77.89 35.00 Bug Lake South
MDE‐21‐331 380.50 382.10 1.60 4.99 4.99 Bug Lake South
MDE‐21‐332 232.00 242.00 10.00 0.84 0.84 Bug Lake North
MDE‐21‐332 432.00 441.40 9.40 3.18 3.18 Bug Lake North
Including… 433.30 436.00 2.70 7.83 7.83 Bug Lake North
MDE‐21‐332 696.25 701.00 4.75 2.37 2.37 Bug Lake South
MDE‐21‐333 95.00 99.80 4.80 6.99 6.99 Bug Lake North
MDE‐21‐333 511.50 514.00 2.50 2.00 2.00 Bug Lake North
MDE‐21‐333 625.00 630.00 5.00 1.22 1.22 VG Bug Lake North
MDE‐21‐334 322.00 325.20 3.20 2.04 2.04 Bug Lake North
MDW‐21‐335 71.25 72.10 0.85 8.84 8.84 Martiniere Central
MDW‐21‐336 91.00 94.60 3.60 7.26 7.26 VG Martiniere West
Including… 91.00 92.10 1.10 15.98 15.98 Martiniere West
MDE‐21‐337 152.00 155.75 3.75 3.26 3.26 Bug Lake North
MDE‐21‐337 465.50 473.00 7.50 0.69 0.69 Bug Lake North
MDE‐21‐337 713.50 716.50 3.00 2.29 2.29 Bug Lake North
MDE‐21‐338 117.50 119.00 1.50 4.23 4.23 Martiniere Central
MDE‐21‐338 396.60 399.00 2.40 46.76 13.15 VG Martiniere Central
Including… 397.60 398.45 0.85 129.90 35.00 VG Martiniere Central
(1) Table includes only assay results received since the latest press release dated October 26, 2021.
(2) Au cut: High-grade capping is 35g/t Au for all the zones, in accordance with the 2021 MRE.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 5 g/t*m and a minimum weighted average composite grade of 0.40 g/t Au for intervals.
Note: True widths are estimated to be 50‒80% of the reported core length intervals.
Assay QA/QC and Qualified Persons
Drill core samples from Wallbridge’s 2021 drill program at Mart iniere were cut and bagged on site and
transported to Bureau Veritas Co mmodities Canada Ltd. for analy sis. Samples, along with standards and
blanks that are included for quality assurance and quality cont rol, were prepared and analyzed at the
laboratories. Samples are crushed to 90% less than 2mm. A 1kg r iffle split is pulverized to 85% passing 75
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 scre en metallic analysis for samples containing
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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 Person responsible for the technical content of t his press release is Peter Lauder, P.Geo,
Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and developme nt of its 100%‒owned Fenelon Gold
property located along the Detour‒Fenelon Gold Trend, an emergi ng gold belt in northwestern Québec.
Within three years of the discovery of the Area 51 and Tabasco/ Cayenne Zones, through drill programs
totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for
Fenelon and an updated MRE for th e Martiniere Gold Property tot alling 2.67 Moz Au in the indicated
category and 1.72 Moz Au in the i nferred category (for details of the MREs see Wallbridge press release
dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).
Both properties are located on the Company’s 910 km 2 land package along the Detour-Fenelon Gold Trend
in Northern Abitibi, Québec, with significant potential for fur ther discoveries over a 97‒kilometre strike
length of this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company
with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.
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]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") 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”, “s cheduled”, “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”, “w ill”, “could”, “would”, “should” or “might”, “be taken”,
“occur” or “be achieved.”
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FLI herein includes, but is not limited to: future drill resu lts; 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 Gold 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 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, perfor mance or achievements expresse d 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 shar eholders 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 Co mpany 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, 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.
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 limitation, include: the ability of exploration activities to accurately
predict mineralization; the accuracy of geological modelling; the ability of the Company 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 results of exploration
activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-
governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s
ability to secure required funding, or operations. 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.
Covid‒19 ‒ Given the rapidly evolving natu re of the Coronavirus (COVID ‒19) pandemic, Wallbridge is actively
monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the
health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and
federal authorities in Canada. The Company has established measures to continue normal activities while protecting
the health of its employees and stakeholders. Depending on th e evolution of the virus, measures may affect the regular
operations of Wallbridge and the participation of staff members in events inside or outside Canada.
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 information 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