Wallbridge Resumes On-Site Exploration and Drilling Activities Following Temporary Suspension Due to Quebec Forest Fire Risk

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 Resumes On-Site Exploration and Drilling Activities

Following Temporary Suspension Due to Quebec Forest Fire Risk

TORONTO, ONTARIO – July 13, 2023 – Wallbridge Mining Company Limited (TSX:WM,

OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced t hat following the partial

lifting of the ban on access to, and exploration activities on, certain areas in northern Quebec by the

Ministère des Ressources N aturelles et des Forêts (Ministry of Natural Resources and Forests) in

conjunction with the Société de protection des forêts contre le feu (SOPFEU) the Company has

resumed drilling and field exploration programs on its Detour-Fenelon Gold Trend Property.

“Wallbridge’s priority throughout this situation has been the safety of our employees, contractors

and local communities,” said Wallbridge President & CEO Marz Kord. “We are extremely thankful

to the government of Quebec and firefighters for their hard work in controlling the wildfires in the

region. There has been no damage to any of Wallbridge’s assets and we don’t expect any impact

on the Company’s ability to complete its 2023 exploration program.”

On June 5, Wallbridge advised investors of the temporary suspension of operations. Two drills are

now fully operational. During the period of the temporary shutdown, Wallbridge has continued work

on its projects by evaluating historic drill results, assessing geophysics results, working on the PEA

report, and strategizing the exploration activities at the targets identified on its Detour-Fenelon Gold

Trend.

The Company will continue to monitor wildfire development in the region and respond proactively

and accordingly should the situation change.

About Wallbridge Mining

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 Gold (“ 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 km 2 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 Preliminary Economic Assessment (“PEA”) on its 100%- owned

Fenelon gold 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. (“Archer”)

as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec in November

of 2022.

Wallbridge will continue to focus on its core Detour- Fenelon Gold Trend Property while enabling

shareholders to participate in the potential economic upside in Archer.

WALLBRIDGE MINING COMPANY LIMITED

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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

Capital Markets Advisor

Email: [email protected]

Cautionary Note Regarding Forward -Looking Information

This press release 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 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”, “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 herein may include, but is not limited to, statements regarding the results of the Fenelon preliminary

economic assessment (“ 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’s” ) at the Fenelon Gold and Martiniere properties

(collectively the “ Deposit s”); 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 FLI 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 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 th e date

of this press release. Accordingly, you should not place undue reliance on the FLI or information contained

herein.

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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

economic climate; metal prices; foreign exchange rates; environmental expectations; community and non -

governmental 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 a vailable at www.sedar.com. 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 Mining 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 Mi ning,

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 miner al

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.