Gold and Silver Updates

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TORONTO, Jan. 20, 2021 (GLOBE NEWSWIRE) — Wallbridge Mining Firm Restricted (TSX:WM)(“Wallbridge”or the“Firm”) is happy to announce that new assay outcomes from the definition drilling program on the Fenelon Gold Property (“Fenelon” or the “Property”) proceed to substantiate the excessive “metallic issue” (grade multiplied by core size) continuity of the Tabasco-Cayenne shear system. The outcomes reported right now embrace a large intersection of 3.48 g/t Au over 54.00 metresin FA-20-197 from the western a part of the gold system, with larger grade sub-intervals of 8.91 g/t Au over 5.60 metres, 11.80 g/t Au over 2.25 metres, and 14.53 g/t Au over 2.90 metres.

Fenelon Gold System, Tabasco/Cayenne Zone Definition Drilling

Definition drilling to a 50-60 metre nominal spacing continues to stipulate the excessive metallic issue core of the Tabasco-Cayenne shear system, which kinds a part of the bigger shear hall and has to date been drilled over a strike size of 800 metres to a vertical depth of 1,000 metres. The excessive metallic issue area is measured within the tens of metres, as additionally highlighted by the current intersection of 5.07 g/t Au over 100.60 metres in gap FA-20-181 (see Wallbridge Press Release dated November 19, 2020). Because the holes method the Tabasco-Cayenne zones, in addition they transect the Space 51 gold vein community.

“The sturdy assay outcomes launched right now from the western a part of the recognized gold system proceed to reveal vital gold endowment and good continuities in Tabasco-Cayenne and Space 51, and supply us with essential data on the connection between these zones,”said Attila Péntek, Vice President Exploration of Wallbridge.“On this western a part of the gold system, the Tabasco and Cayenne Zones come nearer to one another and upon getting into the Jeremie Diorite, transitions from shear zone-hosted to Space 51 vein network-style mineralization.”

Spotlight intersections from the definition drilling within the Tabasco-Cayenne Zones embrace:

FA-20-197 3.48 g/t Au over 54.00 metres, together with
8.91 g/t Au over 5.60 metres,
11.80 g/t Au over 2.25 metres,and
14.53 g/t Au over 2.90 metres within the Tabasco Zone, and
3.24 g/t Au over 11.75 metres within the Cayenne Zone (see Figs. 1, 6 and 7);
FA-20-158 3.07 g/t Au over 7.00 metres and
10.38 g/t Au over 3.00 metres in a transition from Tabasco Zone to Space 51 (see Figs. 1 and 4);
FA-20-177 11.15 g/t Au over 3.60 metreswithin the Cayenne Zone (see Fig. 5);  
This drill gap needed to be terminated prematurely, solely 5 metres previous this intersection, resulting from mechanical points and subsequently didn’t totally cross the Tabasco-Cayenne mineralized horizon.  
FA-20-188 37.45 g/t Au over 2.60 metreswithin the Cayenne Zone (see Fig. 8);
FA-20-193 2.59 g/t Au over 18.80 metres, together with
21.45 g/t Au over 1.95 metres in a transition from Space 51 to Tabasco Zone (see Figs. 1 and 4);

Space 51 Intersections from the Tabasco/Cayenne Definition Drill Holes

Because the Tabasco/Cayenne definition drill holes method the Tabasco/Cayenne shear system, they go by way of the Space 51 vein community, which is characterised by large mineralized zones consisting of numerous larger grade veins hosted primarily within the Jeremie Diorite and underlying sediments.

Spotlight intersections from Space 51 from the holes reported right now embrace:

FA-20-197 8.17 g/t Au over 3.75 metres(see Fig. 7);
FA-20-188 1.49 g/t Au over 72.50 metres, together with    
67.20 g/t Au over 0.50 metre, and
3.98 g/t Au over 7.50 metres, (see Fig. 8);
FA-20-193 1.13 g/t Au over 77.35 metres, together with
13.62 g/t Au over 4.25 metres (see Fig. 4);

Fenelon Tabasco-Cayenne Growth Drilling

Growth drilling on Space 51 and the Tabasco-Cayenne zones utilizing giant (75 to 200 metres) step-outs at depth and towards the east has been persevering with with 1 to 2 drill rigs.

Drill gap FA-20-202 intersected what’s presently the easternmost recognized expression of the Tabasco zone with typical, sulfide-rich, silicified shear zones that assayed 2.77 g/t Au over 6.00 metres, together with 4.58 g/t Au over 2.25 metres. This intersection represents an approximate 150 metre japanese step-out on recognized mineralization within the Tabasco zone and follow-up drilling within the neighborhood of this intersection and at additional depth is presently underway.

Drill holes FA-20-203 and -205 have intersected sturdy, seen gold-bearing zones within the japanese a part of the recognized Tabasco-Cayenne shear system with assays presently pending (see Fig. 1).

“The gold system is large open towards the east, and intersections akin to those in FA-20-202 as effectively -203 and -205 with assays pending present us affirmation of great growth potential additionally on this space,”said Mr. Péntek.

2020-2021 Drilling Program Replace

In 2020, Wallbridge accomplished roughly 102,000 metres of exploration and useful resource drilling at Fenelon, attaining its 2020 goal regardless of the momentary suspension of actions within the spring because of the COVID pandemic. For almost all of the 12 months, six drill rigs had been working and a seventh drill was mobilized to the undertaking on the finish of November.

In 2021, the Firm is planning to finish roughly 170,000 metres of drilling with a maiden useful resource estimate at Fenelon anticipated within the third quarter (see Wallbridge Press Release dated January 11, 2021). Roughly 10-15% of the drilling program can be dedicated to regional exploration on the Firm’s district-scale, underexplored land bundle on the Detour-Fenelon Gold Pattern.

At the moment, drilling is ramping up and by the top of January the Firm may have 9 drill rigs turning. Six drill rigs are focusing on the Fenelon Gold System (Tabasco-Cayenne-Space 51 mineralization) to roughly 1,000 metre vertical depth, finishing up a mixture of 75-100-metre step-outs and tighter-spaced (50-60-metre) in-fill and definition drilling. Two drill rigs can be specializing in near-surface, open pit useful resource drilling within the western portion of Space 51. One drill rig can be dedicated to regional, grassroots exploration at varied initiatives on the Firm’s 900 km2 Detour-Fenelon Gold Pattern land bundle.

Assay outcomes of 19 drill holes of the 2020 exploration drill program are reported within the Tables and s beneath. All figures and a desk with drill gap data of lately accomplished holes are posted on the Firm’s web site underneath “Present Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Determine 1. Fenelon Gold, Tabasco Lengthy Part
https://www.globenewswire.com/NewsRoom/AttachmentNg/81c5d85d-69fe-4939-aa67-f3ce8140c96a

Determine 2. Fenelon Gold, Plan View
https://www.globenewswire.com/NewsRoom/AttachmentNg/4bcdabdc-6df5-48cd-8b20-392bb8368df1

Determine 3. Fenelon Gold, Cross Part 9750_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/ed51ec98-cfd5-4947-abc1-5e2694a01576

Determine 4. Fenelon Gold, Cross Part 9825_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/22a0f44c-bae0-4f22-ad78-3a364960366f

Determine 5. Fenelon Gold, Cross Part 9900_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/981d1a51-5ad1-4039-ba70-8086566c2afe

Determine 6. Fenelon Gold, Cross Part 9975_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ec0c8f1-c2ec-4dca-bfe6-18265a199f4f

Determine 7. Fenelon Gold, Cross Part 10050_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/d789eb31-9e72-4eb8-82eb-386bb359ebc2

Determine 8. Fenelon Gold, Cross Part 10125_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/229ebe90-7356-485a-931a-33a007022d35

Determine 9. Fenelon Gold, Cross Part 10200_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/c7f23036-a00e-4aad-8084-3a8a8984576b

Desk 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights
(1)
Drill Gap From To Size Au Au Lower(2) VG(3) Zone/Hall Part
(m) (m) (m) (g/t) (g/t)
FA-20-119 493.20 513.25 20.05 1.15 1.15 Space 51- Andromeda 10050
Together with… 493.20 494.05 0.85 9.54 9.54 Space 51- Andromeda 10050
And… 505.00 506.00 1.00 6.52 6.52 Space 51- Andromeda 10050
FA-20-129 636.10 639.05 2.95 3.23 3.23 Space 51- Andromeda 10200
FA-20-158 797.00 799.50 2.50 5.15 5.15 VG Space 51 – Enterprise 9900
Together with… 798.50 799.50 1.00 8.35 8.35 Space 51 – Enterprise 9900
FA-20-158 1053.50 1086.00 32.50 1.78 1.78 Space 51- MIB & Transition to Tabasco 9825
Together with… 1053.50 1060.50 7.00 3.07 3.07 Space 51- MIB & Transition to Tabasco 9825
And… 1079.00 1082.00 3.00 10.38 10.38 Space 51- MIB & Transition to Tabasco 9825
FA-20-166 No Important Mineralization*
FA-20-166-W2 1147.50 1160.15 12.65 1.00 1.00 0.00 Tabasco 10050
FA-20-176 859.00 866.50 7.50 1.96 1.96 Space 51- Interstellar 10200
Together with… 865.00 866.50 1.50 8.51 8.51 Space 51- Interstellar 10200
FA-20-176 1250.50 1252.70 2.20 2.60 2.60 Cayenne 10200
FA-20-177 908.00 980.00 72.00 1.04 1.04 VG Tabasco 9900
Together with… 908.00 910.00 2.00 7.76 7.76 Tabasco 9900
And… 953.50 956.50 3.00 3.87 3.87 VG Tabasco 9900
FA-20-177 1044.95 1048.55 3.60 11.15 11.15 VG Cayenne 9900
Together with… 1045.90 1046.40 0.50 69.00 69.00 VG Cayenne 9900
FA-20-186 822.30 827.15 4.85 1.32 1.32 Tabasco 9750
FA-20-188 176.00 178.50 2.50 5.23 5.23 VG Space 51- Orion and Titan 10125
Together with… 178.00 178.50 0.50 23.20 23.20 VG Space 51- Orion and Titan 10125
FA-20-188 215.00 225.00 10.00 1.41 1.41 VG Space 51- Titan 10125
FA-20-188 332.70 405.20 72.50 1.49 1.49 VG Space 51- Laika 10125
Together with… 332.70 333.20 0.50 67.20 67.20 VG Space 51- Laika 10125
And… 377.50 385.00 7.50 3.98 3.98 Space 51- Laika and Andromeda 10125
And… 394.20 394.70 0.50 31.00 31.00 VG Space 51- Laika and Andromeda 10125
And… 404.10 405.20 1.10 11.50 11.50 VG Space 51-Andromeda 10125
FA-20-188 584.00 587.00 3.00 2.24 2.24 Space 51- Interstellar 10125
FA-20-188 619.00 626.40 7.40 1.67 1.67 Space 51- Enterprise 10125
Together with… 625.00 626.40 1.40 5.01 5.01 Space 51- Enterprise 10125
FA-20-188 706.00 718.15 12.15 1.18 1.18 Space 51- Enterprise and Contact Zone 10125
Together with… 710.00 711.00 1.00 9.51 9.51 Space 51- Enterprise and Contact Zone 10125
FA-20-188 890.80 893.40 2.60 37.45 37.45 VG Cayenne 10125
FA-20-191 549.65 550.70 1.05 9.33 9.33 Tabasco 9750
FA-20-191 615.30 615.80 0.50 11.60 11.60 Cayenne 9750
FA-20-192 352.10 353.20 1.10 35.34 35.34 Space 51 – Andromeda 9900
FA-20-192 754.50 763.00 8.50 1.02 1.02 Space 51 – Enterprise 9975
Together with… 755.35 756.00 0.65 8.70 8.70 Space 51 – Enterprise 9975
FA-20-192 911.75 916.40 4.65 2.33 2.33 Space 51 – MIB 9975
FA-20-192 994.00 998.00 4.00 1.75 1.75 Tabasco 9975
FA-20-193 492.00 493.50 1.50 3.98 3.98 Space 51 – Interstellar 9825
FA-20-193 743.45 820.80 77.35 1.13 1.13 VG Space 51 – MIB 9825
Together with… 760.95 765.20 4.25 13.62 13.62 VG Space 51 – MIB 9825
Which Consists of… 762.65 763.25 0.60 79.30 79.30 VG Space 51 – MIB 9825
FA-20-193 943.40 962.20 18.80 2.59 2.59 VG Tabasco 9825
Together with… 960.25 962.20 1.95 21.45 21.45 Tabasco 9825
FA-20-197 445.75 449.50 3.75 8.17 8.17 VG Space 51 – Laika 10050
FA-20-197 515.50 521.00 5.50 1.26 1.26 Space 51 – Andromeda 10050
FA-20-197 940.00 994.00 54.00 3.48 3.48 VG Tabasco 10050
Together with… 967.90 973.50 5.60 8.91 8.91 VG Tabasco 10050
And… 982.75 985.00 2.25 11.80 11.80 Tabasco 10050
And… 991.10 994.00 2.90 14.53 14.53 Tabasco 10050
FA-20-197 1004.05 1015.80 11.75 3.24 3.24 Cayenne 9975
Together with… 1005.00 1006.00 1.00 25.00 25.00 Cayenne 9975
FA-20-199 No Important Mineralization*
FA-20-202 43.00 65.50 22.50 1.83 1.83 VG Space 51 – Hubble 10500
Together with… 43.00 43.85 0.85 37.45 37.45 VG Space 51 – Hubble 10500
FA-20-202 367.00 378.40 11.40 1.34 1.34 Space 51 – Orion 10500
Together with… 376.85 377.60 0.75 8.64 8.64 Space 51 – Orion 10500
FA-20-202 683.50 689.50 6.00 2.77 2.77 Tabasco 10500
Together with… 685.35 687.60 2.25 4.58 4.58 Tabasco 10500
FA-20-204 85.00 89.00 4.00 1.84 1.84 Space 51 – MIB 9675
FA-20-204 96.00 99.00 3.00 1.51 1.51 Space 51 – MIB 9675
FA-20-204 216.00 220.50 4.50 1.80 1.80 Space 51 – MIB 9675
FA-20-204 322.00 323.00 1.00 5.11 5.11 Space 51 – MIB 9675
FA-20-204 467.60 474.00 6.40 1.26 1.26 VG Transition from Space 51 to Tabasco 9675
Together with… 473.40 474.00 0.60 11.32 11.32 VG Transition from Space 51 to Tabasco 9675
FA-20-206 No Important Mineralization*
FA-20-206-W1 442.00 443.50 1.50 4.26 4.26 Space 51 – Titan 10500
FA-20-206-W1 467.50 469.00 1.50 4.74 4.74 Space 51 – Titan 10500
FA-20-206-W1 577.00 584.50 7.50 1.30 1.30 Space 51- Laika 10500
FA-20-206-W1 798.00 799.00 1.00 5.67 5.67 Tabasco 10500
FA-20-208 No Important Mineralization*

*Metallic issue of a minimum of 5 g/t*m and minimal weighted common composite grade of 1 g/t Au.
(1) Desk contains solely assay outcomes obtained for the reason that newest press launch dated Dec 10, 2020.
(2) Au lower at 140 g/t.
(3) Intervals containing seen gold (“VG”).

Observe: True widths are estimated to be 50-80% of the reported core size intervals.

Assay QA/QC and Certified Individuals

Drill core samples from the continued drill program at Fenelon are lower and bagged both on website or by contractors and transported to both SGS Canada Inc. or ALS Canada Ltd. for evaluation. Samples, together with requirements, blanks and duplicates included for high quality assurance and high quality management, had been ready and analyzed at SGS Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to 90% or 95% lower than 2mm. A 1kg riffle break up is pulverized to >95% passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by hearth assay and AAS. At SGS, samples >10g/t Au are robotically analyzed by hearth assay with gravimetric end or display screen metallic evaluation. To check for coarse free gold and for added high quality assurance and high quality management, Wallbridge requests display screen metallic evaluation for samples containing seen gold. These and future assay outcomes could differ once in a while resulting from re-analysis for high quality assurance and high quality management.

The Certified Individual accountable for the technical content material of this press launch is Christopher Kelly, P.Geo., B.Sc., Senior Geologist of Wallbridge.

About Wallbridge Mining

Wallbridge is presently advancing the exploration and growth of its 100%-owned Fenelon Gold property, which is situated alongside the Detour-Fenelon Gold Pattern, an rising gold belt in northwestern Québec. The Firm accomplished roughly 102,000 metres of drilling in 2020 and has begun a fully-funded 170,000-metre drill program and 10,000-metre, two-year underground growth program in 2021. The Firm intends to finish a maiden useful resource on the Fenelon Gold System within the third quarter of 2021.

Wallbridge now holds a number of kilometres surrounding its quickly increasing Fenelon discovery offering room for progress, in addition to future mine growth flexibility. Wallbridge’s land holdings in Québec alongside the Detour-Fenelon Gold Pattern is over 900.0 km2, bettering Wallbridge’s potential for additional discoveries for over 90-kilometre strike size on this under-explored belt.

Wallbridge can also be the operator of, and a shareholder in, Lonmin Canada Inc., a privately-held firm with a big portfolio of nickel, copper, and platinum-group metals (PGM) initiatives in Ontario’s Sudbury Basin.

This information launch has been licensed by the undersigned on behalf of Wallbridge Mining Firm Restricted.

For additional dataplease go to the Firm’s web site at www.wallbridgemining.com or contact:

Wallbridge Mining Firm Restricted

Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682-9297 ext. 251
Electronic mail: mkord@wallbridgemining.com

Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Electronic mail: vvargas@wallbridgemining.com

This press launch could comprise sure “forward-looking statements” throughout the that means of relevant Canadian securities laws referring to, amongst different issues, the operations of Wallbridge Mining Firm Restricted (“Wallbridge” or “Firm”) and the surroundings inside which it operates. All statements, apart from statements of historic truth, included herein, together with, with out limitation, statements relating to future plans and goals of Wallbridge, future alternatives and anticipated objectives, the Firm’s portfolio, treasury, administration group, timetable to mineral useful resource estimation, allowing and the potential mineralization of the properties, are forward-looking statements that contain varied dangers, assumptions, estimates and uncertainties. Typically, forward-looking data will be recognized by means of forward-looking terminology akin to “seeks”, “believes”, “anticipates”, “plans”, “continues”, “price range”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “initiatives”, “predicts”, “proposes”, “potential”, “targets” and variations of such phrases and phrases, or by statements that sure actions, occasions or outcomes “could”, “will”, “might”, “would”, “ought to” or “would possibly”, “be taken”, “happen” or “be achieved”. There will be no assurance that such statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements.

By their nature, forward-looking statements contain quite a few assumptions, inherent dangers and uncertainties, each basic and particular, that contribute to the chance that the expected outcomes might differ materially from these contained in such statements. These dangers and uncertainties embrace, however will not be restricted to, delays in acquiring or failures to acquire required governmental, regulatory, environmental or different required approval, the precise outcomes of present exploration actions, fluctuations in costs of commodities, fluctuations in forex markets, precise outcomes of extra exploration and growth actions on the Firm’s initiatives, capital expenditures, the provision of any extra capital required to advance initiatives, accidents, or pandemic interruptions.

Though the Firm has tried to determine essential components that would trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. These statements mirror the present inside projections, expectations or beliefs of the Firm and are primarily based on data presently accessible to the Firm.

The Firm doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines. The Firm believes that the expectations mirrored in these forward-looking statements are affordable however no assurance will be provided that these expectations will show to be appropriate and such forward-looking statements included on this press launch shouldn’t be unduly relied upon by traders as precise outcomes could differ.

Dangers and uncertainties about Wallbridge’s enterprise are extra absolutely mentioned within the disclosure materials filed with the securities regulatory authorities in Canada and accessible on SEDAR underneath the Firm’s profile at www.sedar.com. Readers are urged to learn these supplies and mustn’t place undue reliance on the forward-looking statements contained on this press launch.

Covid-19 – Given the quickly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the state of affairs to be able to proceed to take care of as greatest as potential the actions whereas striving to guard the well being of its personnel. Wallbridge’ actions will proceed to align with the steering supplied by native, provincial and federal authorities in Canada. The Firm has established measures to proceed regular actions whereas defending the well being of its staff and stakeholders. Relying on the evolution of the virus, measures could have an effect on the common operations of Wallbridge and the participation of employees members in occasions inside or outdoors Canada.

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