Wallbridge Temporarily Evacuates Fenelon Camp, Suspends Exploration 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 Temporarily Evacuates Fenelon Camp, Suspends
Exploration Due to Quebec Forest Fire Risk
TORONTO, ONTARIO – June 5, 2023 – Wallbridge Mining Company Limited (TSX:WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that it has temporarily
evacuated the camp at its 100% owned Fenelon Gold project (“ Fenelon”) and suspended all
exploration activities on its Detour-Fenelon Gold Trend Property due to an emergency order from
the Quebec Ministère des Ressources naturelles et des Forêts (Ministry of Natural Resources
and Forests) prohibiting access to lands in the province impacted by forest fires.
“Safety is of paramount importance at Wallbridge,” said Marz Kord, President and CEO. “All of
our employees and contractors’ staff have been safely evacuated and we have taken
appropriate measures to secure and mitigate risk to the Fenelon camp site. Exploration activities
at Fenelon and our other projects will resume as soon as practicable.”
The news release from the Ministère des Ressources naturelles et des Forêts (Ministry of
Natural Resources and Forests) announcing the prohibition can be found at
https://www.quebec.ca/nouvelles/actualites/details/incendies-de-foret-modification-du-
territoire-touche-par-linterdiction-dacces-en-foret-sur-les-terres-du-domaine-de-letat-et-par-
la-fermeture-de-chemins-48424
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. The
Company believes that these two deposits have good potential for economic development,
especially given their proximity to existing hydro-electric power and transportation infrastructure. In
addition, Wallbridge believes that the extensive land package is extremely prospective for the
discovery of additional gold deposits.
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.
For further information please visit the Company’s website at www.wallbridgemining.com or contact:
Wallbridge Mining Company Limited
WALLBRIDGE MINING COMPANY LIMITED
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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 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”, “scheduled”,
“estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and
variations of such words a nd 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: statements regarding the potential future performanc e 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 the MRE’s a t the Fenelon Gold (defined below) and Martiniere (defined below)
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, 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 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 under take,
and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or
circumstances. Unless otherwise noted, this press release has been prepared based on information available
as of the date of this press release. Acc ordingly, 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
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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 the
COVID-19 pandemic on the Deposits, the Company’s financial position, the Company’s ability to secure
required funding, or operations. In addition to the MD&A, 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.sedar.com.
Information Concerning Estimates of Mineral Resources
The disclosure relating to the Deposits and MRE’s in this press release and referred to herein was prepared
in accordance with NI 43 -101 which differs 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 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 evidence is sufficient to imply but not verify geological and grade or quality
continuity. An inferred mineral 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 expected that
the majority of inferred 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. Disclosure of "contained
ounces" in a resource is permitted disclosure under Canadian regulations; however, the SE C normally only
permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place
tonnage and grade without reference to unit measures.
Investors are cautioned that while terms, are substantially similar to CIM Defin ition Standards, there are
differences in the definitions and standards 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 beginni ng on or after January 1, 2021. The SEC Modernization Rules replace the historical
property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC
Modernization Rules, the SEC now recognizes estimates of "measure d 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 CIM Definition Standards, readers are cautioned that there are differences
between 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.