In-Fill Sampling Program Successfully Adds New Gold Mineralization Within Fenelon Mineral Resource Footprint

TORONTO - Wallbridge Mining Company Limited reported positive assay results from its ongoing in-fill sampling program, which aims to analyze previously unsampled intervals of drill core with the objective of adding new gold mineralization within the known footprint of the Fenelon Gold project.

“In addition to our ongoing resource drilling campaign aimed at expanding mineral resources at Fenelon, we are also executing a systematic program to sample core sections from previously drilled holes that had not been sampled and assayed in order to identify additional gold mineralization within the existing resource footprint as outlined in the 2021 mineral resource estimate (MRE),” said Attila Pentek, Wallbridge’s Vice President, Exploration. “In the past, we focused our core sampling on visibly mineralized zones. Subsequent work has increased our confidence in the potential for bulk mining at Fenelon and, as a result we have revisited these previously unsampled intervals and identified a series of strong intersections adjacent to or within areas of the MRE block model that were previously considered to be waste in the MRE.”

The Company has identified more than 50,000 meters of previously unsampled drill core and has prioritized approximately 30,000 meters for sampling by the third quarter of 2022, focusing on intervals that occur within or adjacent to known mineralized zones. To date, approximately 11,245 samples (representing approximately 14,880 meters) of previously unsampled drill core have been submitted for analysis as part of the 2022 in-fill program, of which results for 7,923 samples have been received.