Wallbridge Mining Company Limited (TSX: WM) (OTCQB: WLBMF) is pleased to announce that it has received final assay results from the 2024 exploration drilling program carried out by Agnico Eagle Mines on the Detour East property located approximately 55 kilometres west of its 100% owned Fenelon Gold Project and 25 kilometres east of Agnico’s Detour Lake gold mine. Agnico holds an option to earn a 75% interest in the Detour East Property, which is currently 100% owned by Wallbridge.

Assay highlights include:

• 9.95 g/t Au over 0.5 metres in hole DTE-24-55, which drilled a previously untested target located along the Sunday Lake Deformation Zone within a few hundred metres of Wallbridge’s neighboring Casault property
• 1.34 g/t Au over 3.0 metres in hole DTE-24-64 plus 1.27 g/t Au over 3.7 metres and 2.57 g/t Au over 2.1 metres in hole DTE-24-65, drilled on a previously identified target located along an accessory structure 2 kilometres north of the SLDZ near the boundary with the Casault property
• 1.43 g/t Au over 5.0 metres, 5.79 g/t Au over 1.0 metre and 7.02 g/t Au over 3.5 metres in hole DTE-24-66 and 2.2 g/t Au over 2.4 metres in hole DTE-24-68, drilled on the historic Lynx target located along the Massicotte Deformation Zone

“We believe these positive drill results, in combination with the completion of the airborne geophysical survey, represent another significant step forward toward a new gold discovery in the northern Abitibi region,” commented Brian Penny, Wallbridge CEO. “Since entering into the Detour East option agreement in late 2020, Agnico has invested approximately $5.5 million into exploring the property, with approximately $2.0 million of qualified expenditures remaining in order to acquire an initial 50% interest in the property. We look forward to continued positive exploration results at Detour East during 2025,” concluded Mr. Penny.

The 2024 exploration program at Detour East was conducted in two phases. The first involved the completion of a property-wide airborne Mobile Magnetotellurics (MT) geophysical survey totaling 1,923 line-kilometres to map bedrock lithology, structure and possible alteration and mineralization concealed beneath the extensive surficial overburden cover characteristic of the region. The results of the MT survey were used to identify prospective geologic and geophysical targets in proximity to the regional scale SLDZ, MDZ, and interpreted accessory fault structures as they extend across the northern and southern portions of the property.

The second phase involved the completion of a 14-hole diamond drilling program totaling 6,475 metres. Significant brittle-ductile style structural deformation hosting localized gold mineralization was intersected at multiple targets, confirming the locations of the main SLDZ and MDZ structures and accessory fault structures. Of the 14 holes drilled, 9 intercepted gold mineralization that may warrant further drilling. Gold mineralization occurs in association with quartz-sulfide and quartz-carbonate veining and breccia fillings. Additional details from the 2024 drilling program are provided in the summary table below:

Links to a drill hole location map and an example cross-section for drill holes reported in this news release are provided here: Detour East Project: 2024 Drill Hole Location Map & Cross-Sections

The Detour East property is a 231 km² claim block that comprises part of the Company’s 830 km² Detour-Fenelon Gold Project land package. It covers approximately 20 km of the SLDZ and approximately 15 km of the MDZ as they extend east from the Québec-Ontario border. Under terms of the Detour East option agreement, Agnico has the option to acquire an initial 50% ownership interest in the property by funding expenditures of $7.5 million by November 23, 2025.

Upon Agnico exercising its option to earn the initial 50% interest, a joint venture will be formed and Agnico will have a second option to earn an additional 25% interest in the property by completing an additional $27.5 million in qualified work expenditures within 5 years of entering into the joint venture agreement, for a total undivided 75% interest in the property. Agnico is the project operator during the full term of the option period. There is a NSR royalty of 2%, relating to the entirety of the property, payable to a former owner, which may be repurchased at any time for $1.0 million for the first 50% of the NSR interest and $2.0 million for the remainder.

Quality Assurance / Quality Control

Agnico Eagle Mines Limited maintains a Quality Assurance/Quality Control program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of blanks and certified reference materials, and completion of secondary check analyses performed at a separate independent accredited laboratory.

Drill core is halved and shipped in sealed bags to ALS Minerals in Timmins, Ontario for sample preparation. Samples are logged in the tracking system, weighed, dried, and finely crushed to better than 70% passing a 2 mm screen per preparation code CRU-31. A split of up to 500 g is taken using a Boyd rotary splitter and pulverized to better than 85% passing a 75 µm screen per code PUL-32m.

A 200g split is sent to ALS Minerals in Vancouver for analysis. Samples are assayed for gold using fire assay techniques on a 50 g sample with atomic absorption spectroscopy finish (Au-AA24). Samples with >10 g/t Au are reanalyzed with a gravimetric finish (Au-GRA22). Samples containing visible gold are analyzed using a screen metallics procedure and followed with a silica wash of equipment per request by Exploration personnel. A high-grade standard is placed before the sample with visible gold within the previous 10 samples and a blank sample is inserted immediately after the sample with visible gold.

ALS Minerals operates under a Quality Management System that conforms to the requirements of ISO/IEC 17025.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen, M.Sc., P.Geo. (OGQ AS-10796: PGO 3069), Senior Exploration Consultant for Wallbridge.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Québec’s Northern Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 830 km² that extends approximately 97 kilometers along the Detour-Fenelon gold trend. The property is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project.

Wallbridge Mining Detour – Fenelon Gold Trend Properties

Wallbridge Mining – Detour East Property – Agnico Eagle Mines Option
2024 Drill Hole Locations

Wallbridge Mining – Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-64 & 65, DTE-18-42A

Wallbridge Mining – Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-66, 67 & 68