Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7) is pleased to provide significant new high-grade assays and visual results from the ongoing 70-80,000-metre 2019 drill program, which is continuing to follow up the Area 51 and Tabasco discoveries and outline a large gold system at its 100%-owned Fenelon Gold Property.

The new drilling further demonstrates the significance of the Tabasco zone below a vertical depth of 400 metres, where it becomes wider, better endowed and is entirely open along strike and to depth. Good continuities are being shown for several zones in the newly named Andromeda and Orion corridors of Area 51 within the Jeremie Pluton and Area 51-style gold-bearing mineralization has also been intersected 800 metres further along strike to the northwest.

“We are very excited about the two recent intersections of the Tabasco zone in holes FA-19-086 and FA-19-090 where visual results consistent with previously-reported assays confirm our modeling and understanding of this zone and reinforcing its importance as one of Fenelon’s best-endowed gold zones,” stated Marz Kord, President & CEO of Wallbridge Mining. “Drilling to date has also outlined at least three continuous zones in the Andromeda corridor of Area 51, which are also becoming more enriched and wider with depth. We have accelerated the sampling and assaying of some of these significant intervals and will be reporting these assay results as soon as available.”

Highlights (since last Wallbridge Press Release dated September 09, 2019):

 “The Tabasco zone is showing remarkable continuity and gold endowment at depth and we are now drilling its down-dip extension with two drill rigs. Along the way, our holes also intersected strong gold mineralization in the Andromeda corridor of Area 51 and we have now moved one of our underground rigs to in-fill this mineralized area and better define several distinct, continuous zones. Our other underground rig is now drilling the newly discovered Orion corridor of Area 51 and two surface rigs are testing grassroots targets along strike of the known gold system”, stated Attila Péntek, Vice President Exploration of Wallbridge. “Holes -062, -064, -066, -069 and -070, tested the up-dip extension of known zones in the sedimentary package near surface and will help model the Area 51, Tabasco and Cayenne zones, which significantly widen at depth once they enter more favorable host rocks”.

Of the six drill rigs currently active on the Property, four are focusing on exploration drilling from surface, doing large-spaced step-outs to define the footprint of the Fenelon gold system and two underground drill rigs are doing more closely spaced drilling of the Tabasco zones and Area 51 near the existing mine workings. A total of over 50,000 metres have been drilled to date in 2019 and the drill program is on track to complete 70-80,000 metres by the end of the year.

Assay results are reported in Table 1 and the Figures for 9 surface drill holes (total of over 6,000 metres) of the 2019 exploration drill program. Assays are pending for 25 surface drill holes and 58 underground holes, for a total of approximately 30,000 metres. The Company’s efforts to accelerate the sampling and assaying process has now resulted in faster turn-around time of assay results and we are expecting to release results more regularly.

All figures and a table with drill hole information of recently completed holes can be found on the Company website.

The Fenelon Gold Property is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec. This major east-west structure in the northern Abitibi greenstone belt hosts the Detour Lake mine, and is very similar to other breaks controlling world-class gold camps in the southern Abitibi, yet it remains underexplored due to thick overburden cover.

At Fenelon, secondary splays of the Sunday Lake Deformation Zone have controlled the emplacement of a significant gold system along the Jeremie Pluton. Historically, exploration has focused on high-grade shear zones hosted in the Main Gabbro, and this where Wallbridge has completed a bulk sample of 33,000 tonnes grading 18.49 g/t gold.

In late 2018, exploration drilling discovered a new geologic setting with extensive, vein network gold mineralization within the pluton, naming it Area 51. The ongoing 70,000-80,000 m drill program is proving the connectivity of Area 51 through the sediment-hosted Tabasco and Cayenne zones to the Main Gabbro and is continuing to expand the footprint and depth extent of the Fenelon gold system.

Drill core samples from the ongoing drill program at Fenelon were cut and bagged on site and transported to SGS Canada Inc. Samples, along with standards, blanks, and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns. 50g samples are analyzed by fire assay and AAS. Samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re-analysis for quality assurance and quality control.

The Qualified Persons responsible for the technical content of this press release are Marz Kord, P. Eng., M. Sc., MBA, President & CEO and Attila Péntek, P.Geo., Ph.D., Vice President Exploration of Wallbridge.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable + 100,000 -ounce gold production as well as organic growth through exploration and scalability.

The Company is currently developing its 100%-owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec with ongoing 70-80,000 m exploration drill program in 2019 and a recently-completed 35,000-tonne bulk sample. Wallbridge is also pursuing additional advanced-stage projects which would add to the Company’s near-term project pipeline. Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario, with a focus on its high-grade Parkin project.