Wallbridge Receives $8.1M of Quebec Refundable Investment Tax Credits
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]
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Wallbridge Receives $8.1M of Quebec Refundable Investment Tax
Credits
Toronto, Ontario – May 21, 2024 – Wallbridge Mining Company Limited (TSX: WM , OTCQB: WLBMF)
(“Wallbridge” or the “ Company”) is pleased to report that it received $8. 1 million of cash refunds with
respect to its 2023 Quebec Tax Credit Relating to Resources (“ TCRR”) that were claimed on its 2023
Quebec income tax return.
The government of Quebec supports mineral exploration within the province. One incentive that Walllbridge
is entitled to receive is a tax credit that refunds a portion of eligible exploration expenses incurred and not
funded by Quebec Flow Through shares. As per the Fraser Institute’s mining survey Quebec ranks fifth on
overall investment attractiveness. This year’s report ranks 86 jurisdictions around the world based on their
geologic attractiveness and government policies.
“We are pleased with the quick turnaround and payment of the refund by Revenue Quebec,” stated Brian
Penny, Chief Executive Officer of Wallbridge. “The receipt of the TCRR Quebec investment tax credits will
be used to advance the Company’s exploration and development programs to unlock the value of the
Detour-Fenelon Gold Trend properties. We look forward to continuing to advance and de-risk Fenelon,
Martiniere, and work on our greenfields regional exploration program to unlock the potential on the rest of
the Company’s 830 square kilometre land package.”
Annual General Meeting
Wallbridge’s annual meeting of the shareholders will be held in person at the TMX Market Centre, 120
Adelaide St. West, Toronto, Ont ario. M5H 1S3 and via live webcast at https://virtual-
meetings.tsxtrust.com/en/1615 on June 26, 2024 at the hour of 4:30 p.m. (Eastern time) (the “Meeting”).
To access the live webcast of the Meeting, shareholders will need to open the following link: https://virtual-
meetings.tsxtrust.com/en/1615. T he password for the live webcast is wallbridge2024 (case sensitive).
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold
projects along the Detour -Fenelon Gold Trend in Québec’s Northern Abitibi region while respecting the
environment and communities where it operates (regional property map provided below).
Wallbridge’s most advanced projects, Fenelon Gold (“ Fenelon”) and Martiniere Gold (“ Martiniere”)
incorporate 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 square kilometre exploration land
package controlled by Wallbridge.
Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates
average annual gold production of 212,000 ounces over 12 years.
Wallbridge also holds a 15.79% interest in the common shares of NorthX Nickel Corp. (formerly “Archer
Exploration”) as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
WALLBRIDGE MINING COMPANY LIMITED
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Wallbridge Mining Company Limited
Brian Penny, CPA, CMA
Chief Executive Officer
Email: [email protected]
M (416) 716 8346
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Capital Markets Advisor
Email: [email protected]
M (289) 242 3599
Cautionary Note Regarding Forward-Looking Information
The information in this document may contain 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 document.
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,
but are not limited to, 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 in this document may include, but is not limited to: statements regarding the results of the PEA; the potential
future performance of the Common Shares; future drill results; the Company’s ability to convert inferred
resources into measured and indicat ed resources; environmental matters; stakeholder engagement and
relationships; parameters and methods used to estimate the MRE’s at Fenelon and Martiniere (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, performance or achievements
expressed or implied by such FLI. Although the FLI contained in this document 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 does not undertake, and assumes no obligation, to update or revise any such FLI
contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has
been prepared based on information available as of the date of this document. 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 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; the legitimacy of title and property interests in the Deposits; 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 economic climate; metal prices; foreign exchange
rates; environmental expectations; community and non -governmental actions; and, the Company’s ability to
secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure
materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S.
Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and
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estimates of mineral reserves and mineral resources and economic studies used herein 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. NI 43-101 differs significantly from the disclosure requirements of the SEC generally
applicable to US companies. As such, the information presented herein concerning mineral properties,
mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar
information made public by U.S. companies subject to the reporting and disclosure requirements under the
U.S. federal securities laws and the rules and regulations thereunder.