Wallbridge Exploration Drilling Continues to Intercept High-Grade Gold Mineralization at Martiniere

TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) announced today the results for the remaining seven holes from its first phase of drilling (“Phase 1”) at its fully owned Martiniere gold project (“Martiniere”). These results include additional high-grade gold intercepts from extensions of three zones targeted along the Bug Lake “BL”) deformation corridor.

Highlights:

True widths are estimated to be 60-90% of the reported core length intervals.

“The final results of our Phase 1 drilling program reinforce our conviction in the growth potential of the Martiniere gold system, which we believe extends well beyond the currently defined mineral resource,” commented Brian W. Penny, CEO. “Our exploration team is now using these encouraging results, together with insights gained from the 2024 exploration program, and the updated mineral resource model to plan the next phase of drilling. Phase II is scheduled to begin later this month, and the Company is excited to continue to advance this project and unlocking its value,” concluded Mr. Penny.

Martiniere 2025 Drilling Program

The first phase of Company’s 2025 Martiniere diamond drilling program was completed on May 14^th and consisted of 16 diamond drill holes plus two hole extensions, totaling 7,225 metres (see Wallbridge news release dated June 2, 2025).   All final results for the Phase 1 program have now been received, including results for the 7 most recent holes, which are reported in this news release. During 2025, the Company plans to complete a total of 10,000 to 15,000 metres of drilling at Martiniere, with Phase 2 drilling scheduled to commence in July.

At Dragonfly, drill hole MR-25-123, along with previously reported holes MR-25-111, MR-25-112, and MR-25-121, returned multiple high-grade gold intercepts within a 400-metre-wide gap between the currently defined mineral resources at Dragonfly to the east and Bug Lake North and Martiniere North to the west. These intercepts begin at a depth of 250 metres and extend to 700 metres from surface, remaining open down plunge and along strike to the southeast. Similarly, drill hole MR-25-122 and previously-reported hole MR-25-117 encountered multiple structures hosting significant gold grades approximately 150 to 200 metres to the southeast of the currently defined mineral resource. Notably, drill hole MR-25-116, reported previously, returned a 4.0 metre intercept grading 18.54 g/t Au, approximately 150 to 200 metres below and lateral to the mid-portion of the Dragonfly gold resource, providing further evidence that the Dragonfly zone remains open to further expansion with depth.

Drilling conducted 500 metres to the south of the Dragonfly zone, aimed at evaluating the broader potential of the Bug Lake South zone, yielded encouraging results. Drill hole MR-25-119 returned 3.27 g/t Au over 1.1 metres, along with several additional intervals of weak to moderately anomalous gold grades.

At Horsefly, drill hole MR-25-125 and a previously-reported extension of hole MR-24-100 provide further confirmation of additional near-surface gold mineralization extending beyond the currently defined gold resource towards the Lac-Du-Doigt fault zone, located approximately 150 metres to the north. Drilling in this area has encountered a series of structures that host gold mineralization at depths ranging from 75 to 300 metres below surface. Notable results include 6.71 g/t Au over 14.4 metres in the deeper extension of hole MR-25-100 and 23.38 g/t Au over 2.0 metres in hole MR-25-125. Approximately 200 metres to the northwest of the Horsefly resource, drill hole MR-25-124 intersected a structure grading 6.83 g/t Au over 1.9 metres, along with two other intervals that show anomalous gold grades near the Lac-Du-Doigt fault zone.

To the north of the Lac-Du-Doigt fault in the Martiniere Northeast area, two widely spaced step-out holes were drilled to follow up on the positive results from hole MR-25-115, which returned a 3.0 metre intercept grading 7.27 g/t Au (reported previously). Drill hole MR-25-120, drilled 500 metres to the east, intercepted five mineralized structures ranging from 3 to 14 metres in length, including a 0.22 g/t Au over 2.5 metres, and 0.10 g/t Au over 2.3 metres. Similarly, hole MR-25-126, drilled 150 metres east of MR-25-115, intercepted several mineralized structures hosting weak to moderately anomalous gold grades. These included 0.39 g/t Au over 4.2 metres, 0.56 g/t over 1.5 metres and 0.25 g/t Au over 1.0 metre. Despite the lower grades returned from these two recent holes, the Martiniere Northeast area shows good potential for a new discovery, given the frequent occurrence of multiple gold-bearing structures distributed over a broad area that had not been drill tested prior to 2025.

As of now, exploration drilling along the Bug Lake corridor has identified gold mineralization across an area approximately 1,500 by 700 metres, extending to an average vertical depth of 350 to 400 metres below surface. Deeper intercepts from historic drill holes BLD-16-01, which intersected 6.4 metres averaging 4.32 g/t Au, and MDE-17-289, which intersected 1.0 metre grading 6.18 g/t Au, indicate the Martiniere gold system remains open to at least 800 to 900 metres vertical depth from surface. Gold mineralization at Martiniere occurs in close association with pyritic silica-sericite alteration, and quartz-carbonate veining, occurring along discrete fault and shear structures hosted by mafic volcanics and younger felsic porphyry dykes.

Martiniere Drill Hole Location Map

Martiniere Gold Project: 2025 Phase 1 Plan View

For more information, including representative cross-section, long-section, and assay summaries of complete drill holes, please refer to the links below.

Martiniere Gold Project: 2025 Phase 1 Cross-Section
Martiniere Gold Project: 2025 Phase 1 Long-Section
Martiniere Gold Project: Phase 1 2025 Drill Assay Summary and Drill Hole Location Information

The Martiniere project is a key component of the Company’s 830 square kilometre Detour-Fenelon Trend property package located in Northern Abitibi, Quebec, 30 kilometres west of the Company’s flagship Fenelon gold project and 50 kilometres east of Canada’s largest gold mine, Agnico Eagle’s Detour Lake gold mine. Exploration and resource delineation drilling completed at Martiniere has so far intercepted multiple zones of vein-hosted gold mineralization over an approximate 1.5 kilometre by 700 metre area along the northwest-southeast trending Bug Lake Zone, and over an approximate 1.5 kilometre by 250 metre area along the northeast-southwest trending Martiniere West and Central corridor.

Wallbridge Mining Detour – Fenelon Gold Trend Properties

Quality Assurance / Quality Control

Wallbridge maintains a Quality Assurance/Quality Control ("QA/QC") 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 Activation Laboratories Ltd. (ActLabs) in Val d’Or, Quebec, where they are routinely analysed via fire assay with AAS finish methods. For greater precision and accuracy, samples assaying 10 g/t Au or greater are re-distributed to other ActLabs facilities where they are re-assayed via metallic screen fire assay or fire assay/gravimetric finish, depending on the amount of sample material remaining available. Samples containing visible gold are submitted directly for analysis by metallic screen fire assay method. Activation Laboratories Ltd. 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 Quebec’s 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 km 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, as well as numerous other gold exploration targets.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Wallbridge Mining Company Limited

Cautionary Note Regarding Forward-Looking Information

The information in this document may contain 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 document.

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, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”

FLI in this document may include, but is not limited to: statements regarding current and future exploration and drilling results; the results of the preliminary economic assessment (“PEA”); 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 mineral resource estimates (“MREs") at Fenelon and Martiniere (collectively the “Deposits”); the prospects, if any, of 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 document 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 undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, 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 accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. 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.sedarplus.ca.

Cautionary Notes to United States Investors

Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d3d44bfa-57e6-4349-bfc9-2b17fc790675

Wallbridge Mining Detour

Fenelon Gold Trend Properties

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