Wallbridge Mining Intersects Strong Gold Mineralization At The Ripley Zone

TORONTO – Wallbridge Mining Company Limited announced positive assay results from the ongoing drill program at the Fenelon Gold project, including significant gold mineralization in the Ripley Zone, located one kilometer south of the Fenelon mineral resource footprint. The results demonstrate the potential for this zone to be included in an updated Fenelon mineral resource estimate (MRE) expected in 2023, as the Company continues to grow the existing resource base at its Detour-Fenelon Gold Trend Property in Northwestern Quebec.

“Based on the results announced today, we believe there is good potential to delineate an underground mineral resource at the Ripley Zone, which could be incorporated into our next Fenelon MRE update,” said Attila Pentek, Vice President, Exploration. “In addition, the wide, pervasive mineralization in some of the drill holes, over a strike length of over 800 meters, suggests there could be an opportunity for an open pit resource as well, and we are conducting additional near-surface drilling to evaluate this scenario. We are also drilling in the area between the existing Fenelon deposit and the Ripley Zone to follow up on previous Area 51-style gold intersections as we work to establish a continuous resource base within and along the Jeremie Diorite, one of the primary host rocks of the Fenelon deposit.”

One of the objectives of the Company’s 2022 Fenelon drill program is to expand the existing resource footprint laterally, in directions where the mineralization is open, while seeking to discover new satellite zones in proximity of the known deposit. Data from this drilling program will support future economic studies in determining the optimal mining configuration of the project. The drilling conducted in the Ripley Zone, along the Sunday Lake Deformation Zone (“SLDZ”), approximately one kilometer south of the current Fenelon resource, is part of this resource expansion program. The Ripley Zone is located along the northern edge of the SLDZ and is predominantly hosted by the Jeremie Diorite that hosts the Area 51 gold mineralization at Fenelon.