Wallbridge Signs Pre-Development Agreement With Cree Nation Partners
PRESS RELEASE
Wallbridge Signs Pre-Development Agreement With Cree Nation Partners
Gatineau, Quebec – August 3, 2022 – Wallbridge Mining Company Limited (TSX: WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”), the Cree Nation o f Waskaganish, the Cree
Nation of Washaw Sibi, the Grand Council of the Crees (Eeyou Is tchee) and the Cree Nation
Government are pleased to announce the signing of a Pre-Develop ment Agreement (“PDA”). Under
the terms of the PDA, the parties have agreed to promote a coop erative and mutually respectful
relationship concerning the expl oration and pre-development act ivities of Wallbridge at the
Company’s Detour-Fenelon Gold Trend Properties in Northwestern Quebec.
The PDA has been developed on the basis of ongoing and continuo us communications between the
parties which have allowed them to build a true and strong part nership in regard to the exploration
activities of Wallbridge. This ground-breaking agreement notabl y provides for enhanced Cree
participation in the business and employment opportunities flow ing from the Fenelon Project as well
for the implementation of a jointly developed Cultural Awarenes s Program and the establishment of
a cultural centre at Fenelon to sensitize workers to Indigenous realities and culture and to promote a
working environment characterized by mutual respect.
The signatories to the agreement have agreed to support and fac ilitate the exploration and pre-
development activities of Wallbridge and to cooperate in the pr eparation of all necessary
environmental and social impact assessment studies relating to the Fenelon project. The PDA also
contemplates the completion of an Impacts and Benefits Agreement upon the demonstrated economic
viability of any project along the Detour-Fenelon Gold Trend.
Marz Kord, President & CEO of Wallbridge stated : “We are extremely pleased to have signed this
pre-development agreement with our Cree Nation partners. Since our entry into Quebec in late 2016,
we have worked together in the spirit of mutual respect, trust and cooperation. The continued relations
with our Cree partners can generate substantial long-term economic and social opportunities for our
respective stakeholders. This foundational agree ment marks an important milestone in our
relationship and we look forward to building on this success as we advance the Fenelon project and
our other properties on the Detour-Fenelon Gold Trend.”
“Although the economic development of our territory must always be balanced with the preservation
of our Cree traditional way of life and the environm ental protection of our lands, Wallbridge and the
Crees have established a new standard for the way in which such development should take place”,
stated Mandy Gull-Masty, Grand Chief of the Grand Council of the Crees (Eeyou Istchee). “Sustained
and meaningful communication lies at the heart of this success story which has already resulted in
substantial employment and revenues for our Cree communities prior to today’s agreement being
signed.”
“The benefits that our communities have gained thus far in our relationship with Wallbridge have
been significant. It is appropriate, however, to now formalize this relationship.”, said Chief Annie
Mapachee-Salt of the Cree Nation of Washaw Sibi , “To have made the progress that we have made
thus far has required that we have a willing, an understanding and an honourable partner. It is
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important for us to acknowledge today that Wallb ridge has shown itself to be such a partner. The
company has worked hard to fully understand the Cree role in the territory and to ensure that what
happens on a day-to-day basis fully reflects this understanding.”
Chief Clarke Shecapio of the Cree Nation of Waskaganish stated: “This Agreement demonstrates what
can be achieved by mining companies through meani ngful engagement and collaboration with Cree
communities. It also highlights the milestones that can be reached when two Cree First Nations work
together to protect and advance Cree interests on our territory. Our relationship with Wallbridge and
the Cree Nation of Washaw Sibi has not only gen erated substantial economic benefits, but has also
allowed for the inclusion of important Cree environmental and conservation concerns into the way in
which mining operations are carried out.”
About Wallbridge Mining
Wallbridge is focused on creating value through the discovery, acquisition, development, and
production of gold from a portfolio of advanced exploration stage assets located in established mining
jurisdictions within Canada. Wallb ridge’s flagship project, Fen elon, is located on the highly
prospective Detour-Fenelon Gold Trend in Northern Abitibi, Queb ec. A mineral resource estimate
completed in 2021 validated the multi-million-ounce gold potential of Fenelon as well as Wallbridge’s
nearby Martiniere Property, incorporating a combined 2.67 million ounces of indicated resources and
1.72 million ounces of inferred resources. Fenelon and Martinie re, located within a 910-square-
kilometre exploration land package controlled by Wallbridge, have the potential to be developed into
mines, and are close to existing power and transportation infra structure. Wallbridge also has interests
in several copper, nickel and platinum group metal properties, including a 17.8% interest in Lonmin
Canada Inc.
Further information about Wallbridge can be found in the Compan y’s regulatory filings available on
SEDAR at www.sedar.com and on the Company’s website at www.wallbridgemining.com
This news release has been authorized by the undersigned on beh alf of Wallbridge Mining Company
Limited.
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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]
About Grand Council of the Crees (Eeyou Istchee)/Cree Nation Government
The Grand Council of the Crees (Eeyou Istchee) is the political body that represents the approximately
20,000 Crees or “Eeyouch” (“Ee nouch”). The Council is constitu ted of twenty (20) members
including: the Grand Chief and Deputy-Grand Chief elected at large by the Eeyouch, the Chiefs elected
by each of the nine (11) communities, and one (1) other representative elected by each community.
For information:
Flora Weistche, Political Attachée
Office of the Grand Chief
About Cree Nation of Waskaganish
Waskaganish (Cree for Little House) is a Cree village of about 2,000 people at the mouth of the Rupert
River on the south-east shore of James Bay in the Eeyou Istchee territory in Northern Quebec.
Formerly called Fort Rupert, the location is one of three origi nal Hudson's Bay Company posts on
James Bay, the other two being Fort Albany on the west shore, and Moose Factory on the south.
About Cree Nation of Washaw Sibi
Washaw Sibi was recognized as the tenth Cree Nation at the 2003 Annual General Assembly of the
Grand Council of the Crees / Cree Nation Government. Incorporated as a non-profit organization since
1997, the Cree Nation of Washaw Sibi, acts as the governing bod y who represents the interests and
the rights of its members.
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains
forward-looking statements or information (coll ectively, “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. Ge nerally, FLI can be identified by the use of
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statements that include words such as “seeks”, “believes”, “an ticipates”, “plans”, “continues”,
“budget”, “scheduled”, “estimates”, “expects”, “f orecasts”, “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 includes, but is not limited to: 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 the mineral resource estimates (each an
“MRE”) at the Fenelon and Martiniere properties (collectively the “Deposits”); the prospects, if any,
of the Deposits; future drilling at the Deposits; an d the significance of historic exploration activities
and results.
FLI is designed to help you understand management’s current view s of its near- and longer-term
prospects, and it may not be appropriate for othe r 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 press release is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assu re 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 accu racy and completeness of any such FLI. Except
as required by law, the Company does not underta ke, 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 relea se. Accordingly, you should not place undue reliance on the FLI or
information contained herein.
Furthermore, should one or more of the risks, uncertainties or oth er 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; environmenta l 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 ma terials filed with the securities
regulatory authorities in Canada, which are available at www.sedar.com.
Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge
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is actively monitoring the situation in order to cont inue to maintain as best as possible the activities
while striving to protect the health of its personnel. Wallbridge’s activities will continue to align with
the guidance provided by local, provincial an d federal authorities in Canada. The Company has
established measures to continue normal activities wh ile protecting the health of its employees and
stakeholders. Depending on the 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 relea se and referred to herein was prepa red 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, Metall urgy 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 publ ic 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, "i nferred 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 evidence is sufficient to imply but not verify
geological and grade or quality c ontinuity. An inferred minera l resource has a lower level of
confidence than that applying to an indicated mineral resource and must not be converted to a mineral
reserve. However, it is reasonably exp ected that the majority of in ferred mineral resources could be
upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates
of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in
rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource
is economically or legally mineable. Disclosu re of "contained ounces" in a resource is permitted
disclosure under Canadian regulations; however, th e SEC normally only permits issuers to report
mineralization that does not constitu te "reserves" by SEC standards as in place tonnage and grade
without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from
standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining
disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as
amended (the " SEC Modernization Rules "), with compliance required for the first fiscal year
beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property
disclosure requirements included in SEC Industry Gu ide 7. As a result of the adoption of the SEC
Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated
mineral resources" and "inferred mineral resources". Information regarding mineral resources
contained or referenced in this press release may not be comparable to similar information made
public by companies that report according to U.S. standards. While the SEC Modernization Rules are
purported to be "substantially similar" to the CI M Definition Standards, reade rs are cautioned that
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there are differences betw een the SEC Modernization Rules and the CIM Definitions Standards.
Accordingly, there is no assurance any mineral resources that the Company may report as "measured
mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101
would be the same had the Company prepared the resource estimates under the standards adopted
under the SEC Modernization Rules.