Ontario, British Columbia & Minnesota

Developing nickel, copper and platinum group element ("PGE") deposits.

Free
Message: Wallbridge intersects 137.63 g/t gold over 4.85 metres

 

 
2018-09-05 07:30:00 AM ET (CNW Group)
   
   

Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce continued positive results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property ("Fenelon").

Highlights

    •            Visible gold was observed
                 to be present in 37 of
                 56 holes drilled to date

    •            Since the last press
                 release (see Wallbridge
                 Press Release dated
                 August 28, 2018),
                 partial assay results of
                 6 additional holes have
                 been received with
                 highlights as follows:


                18-1035-011:                  65.76 g/t gold over 2.25
                                              metres in the Chipotle zone


                18-1035-013:                  144.96 g/t gold over 2.12
                                              metres in the Chipotle zone
                                              and 40.69 g/t gold over
                                            4.28 metres in the Naga Viper
                                              zone


                18-1035-018:                  12.68 g/t gold over 3.51
                                              metres and9.04 g/t gold
                                              over 5.30 metres in the
                                              Chipotle zone


                18-1035-019:                  137.63 g/t gold over 4.85
                                              metres in the Naga Viper
                                              zone,18.70 g/t gold over
                                              8.00
                                            metres and39.10 g/t gold
                                              over 1.00 metre in the
                                              Chipotle zone


                18-1080-001:                  611.00 g/t gold over 0.50
                                              metre in the Naga Viper zone


                18-1080-003:                  19.24 g/t gold over 1.50
                                              metres in the Naga Viper
                                              zone


                18-1080-006:                  12.80 g/t gold over 1.70
                                              metres in the Naga Viper
                                              zone


    •            Assay results from 34
                 drill holes are pending

                The second stope (NV-01)
                 is being prepared and
                 ramp has reached the
                 second level (5180
    •            Level)

                Close to 5,000 tonnes of
                 ore has been shipped to
                 the Camflo mill for
                 processing planned to
    •            start this week

"Our drilling to date has mainly focused on the top 100 metres of the deposit. The successful results to date indicate that our original exploration target of 400 ounces per vertical metre has now increased to a range of 800-1,000 ounces per vertical metre and the continued drilling is proving this up in preparation for the updated resource to be completed after the bulk sample," stated Marz Kord, President & CEO of Wallbridge Mining Company. "This is very comparable to other well-known, high grade Abitibi gold deposits. The planned 2018 drilling from underground and surface should allow us to define the extension and size potential of the deposit to depth".

The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at C$1,720 per ounce. The expected cash flow upon completion of this bulk sample, net of all bulk sample costs and including the financing costs is expected to be sufficient to cover the budgeted working capital requirements.

The bulk sample program is designed to test a few stopes in several zones. Overall grade from these planned stopes is estimated to average 18 to 25 g/t gold. The geology team has developed an extensive sampling program to characterize the mineralized material during this bulk sample. Chip samples are collected from a sampling line across each development face and muck samples are also taken in a regular pattern on surface.

"With most of the stope definition drilling completed, we will now entirely focus on resource expansion. The underground drill rig will continue to target high-grade shoots in the current footprint of the mine workings, whereas our surface rig, which is being mobilized later this month, will be testing zones further away. We are eager to continue exploring the broader environment around the known deposit to discover new high-grade gold zones that can easily be added to future production." stated Attila Péntek, Vice-President, Exploration of Wallbridge.

Drilling to date from the 5213 level has mainly targeted the Chipotle and Naga Viper zones in the upper 100 m, between levels 5150 and 5213. Stopes that have thus far been drilled-off to the planned 6 to 7 m nominal spacing have provided good confirmation of the geological model and continuity of the high-grade shoots. Drilling is now focusing on defining stopes and expanding resources in the West extension area of the Naga Viper and Habanero zones, including the high-grade shoot discovered last year with intersections that included 260.4 g/t gold over 7.02 metres, 141.2 g/t gold over 7.06 metres and 311.1 g/t gold over 3.06 metres (see Wallbridge Press Release dated December 13, 2017).

Deeper drilling to test the down-plunge of known high-grade shoots is planned for Q4 of 2018 once the lower levels are developed.

A 10,000-metre surface drilling program is also scheduled to start in September to follow known mineralized zones and expand resources at depth and further away from the mine workings.

A summary of the drill hole results from the underground drilling are reported in Tables 1 and 2 and also shown on the Figures below.

                                                          Table 1. Wallbridge Fenelon Gold Property 2018 Underground Drill Assay Highlights
                                                          ---------------------------------------------------------------------------------

         Drill Hole    From         To         From               To                  Length                   True                   Au               Au              VG**          Zone             Press Release
                                                                                                              Width                                 Capped*
    ---                                                                                                       -----                                  ------

                        (m)         (m)         (m)              (m)                    (m)                    (m)                   (g/t)           (g/t)
                        ---         ---         ---              ---                    ---                    ---                   -----           -----

         18-1030-006          27.79      30.20                                                    2.41                   2.20                15.91               15.91        VG         Chipotle           July 25, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------           -------------

         18-1030-006 Including          28.50       29.11                0.61                      0.56                  59.10                59.10          VG            Chipotle    July 25, 2018
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---            --------    -------------

         18-1030-007          31.26      32.66                                                    1.40                   1.08                16.72               16.72        VG         Chipotle           July 25, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------           -------------

         18-1030-008          34.47      38.06                                                    3.59                   2.76                 9.27                9.27        VG         Chipotle           July 25, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----        ---        --------           -------------

         18-1030-008 Including          35.03       36.61                1.58                      1.22                  17.37                17.37          VG            Chipotle    July 25, 2018
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---            --------    -------------

         18-1030-009          77.58      81.00                                                    3.42                   2.70                35.91               35.91        VG          Paprika           July 25, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---         -------           -------------

         18-1030-009 Including          78.90       80.60                1.70                      1.34                  63.33                63.33          VG             Paprika    July 25, 2018
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---             -------    -------------

         18-1030-009          90.00      90.97                                                    0.97                   0.75                 4.76                4.76                   Habanero           July 25, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----                   --------           -------------

         18-1030-010          81.00      81.42                                                    0.42                   0.32                13.60               13.60        VG        Naga Viper          July 25, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------          -------------

         18-1030-011          80.10      85.50                                                    5.40                   4.37                10.05               10.05                  Naga Viper           Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----                  ----------           ------------

         18-1030-012          68.30      71.26                                                    2.96                   1.33                10.09               10.09        VG         Chipotle            Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------            ------------

         18-1030-012          79.42      82.50                                                    3.08                   1.39                 7.32                7.32        VG         Chipotle            Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----        ---        --------            ------------

         18-1030-012         107.33     108.29                                                    0.96                   0.60                 6.38                6.38        VG          Paprika            Aug 14, 2018
         -----------         ------     ------                                                    ----                   ----                 ----                ----        ---         -------            ------------

         18-1035-002          49.20      54.00                                                    4.80                   3.26                29.23               28.35        VG         Chipotle            Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------            ------------

         18-1035-002 Including          49.97       52.95                2.98                      2.03                  46.30                44.89          VG            Chipotle    Aug 14, 2018
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---            --------    ------------

         18-1035-003          52.20      52.77                                                    0.57                   0.39                 5.60                5.60        VG         Chipotle            Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----        ---        --------            ------------

         18-1035-004          24.94      26.02                                                    1.08                   0.73                65.70               65.70        VG          Fresno             Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---         ------             ------------

         18-1035-005          58.77      64.90                                                    6.13                   5.86                48.81               24.35        VG        Naga Viper           Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------           ------------

         18-1035-005          78.65      79.31                                                    0.66                   0.53                26.90               26.90                    Paprika            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----                    -------            ------------

         18-1035-007          74.30      78.07                                                    2.42                   1.94                 5.27                5.27                    Paprika            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----                    -------            ------------

         18-1035-007          84.90      85.50                                                    0.60                   0.48                15.60               15.60                   Habanero            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----                   --------            ------------

         18-1035-010          30.45      34.08                                                    3.63                   2.72                30.47               30.47        VG         Chipotle            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------            ------------

         18-1035-010 Including          32.90       34.08                1.18                      0.89                  91.94                91.94          VG            Chipotle    Aug 28, 2018
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---            --------    ------------

         18-1035-010          47.50      49.40                                                    1.90                   1.43                 3.07                3.07                    Anaheim            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----                    -------            ------------

         18-1035-010          64.40      65.40                                                    1.00                   0.75                28.80               28.80        VG          Paprika          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---         -------          ---------------

         18-1035-011          27.75      30.00                                                    2.25                   1.78                65.76               42.89        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------          ---------------

         18-1035-012          28.01      28.56                                                    0.55                   0.44                28.30               28.30        VG         Chipotle            Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------            ------------

         18-1035-012          56.41      56.71                                                    0.30                   0.29                61.10               61.10        VG        Naga Viper           Aug 14, 2018
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------           ------------

         18-1035-013          27.36      29.48                                                    2.12                   1.77               144.96               78.10        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----               ------               -----        ---        --------          ---------------

         18-1035-013 Including          27.99       29.15                1.16                      0.97                 262.18               140.00          VG            Chipotle   Current Release
         ----------- ---------          -----       -----                ----                      ----                 ------               ------         ---            --------   ---------------

         18-1035-013          51.40      58.35                                                    4.28                   3.58                40.69               40.09        VG        Naga Viper         Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------         ---------------

         18-1035-015          63.00      65.05                                                    2.05                   1.11                 6.63                6.63        VG         Chipotle            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----        ---        --------            ------------

         18-1035-015          72.60      74.34                                                    1.74                   1.16                15.74               15.74                   Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----                   --------          ---------------

         18-1035-016          66.77      67.50                                                    0.73                   0.51                 5.73                5.73                   Chipotle            Aug 28, 2018
         -----------          -----      -----                                                    ----                   ----                 ----                ----                   --------            ------------

         18-1035-016          98.17     100.00                                                    1.83                   1.24                 4.26                4.26                    Paprika            Aug 28, 2018
         -----------          -----     ------                                                    ----                   ----                 ----                ----                    -------            ------------

         18-1035-017          56.00      66.13                                                   10.13                   5.51                49.06               23.93        VG         Chipotle            Aug 28, 2018
         -----------          -----      -----                                                   -----                   ----                -----               -----        ---        --------            ------------

         18-1035-018          52.99      56.50                                                    3.51                   2.38                12.68               12.68        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------          ---------------

         18-1035-018          63.70      69.00                                                    5.30                   3.60                 9.04                9.04        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                 ----                ----        ---        --------          ---------------

         18-1035-018 Including          66.00       66.96                0.96                      0.65                  35.79                35.79          VG            Chipotle   Current Release
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---            --------   ---------------

        18-1035-019†          47.00      55.00                                                    8.00                   5.56                18.70               18.70        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------          ---------------

         18-1035-019          59.30      60.30                                                    1.00                   0.69                39.10               39.10        VG         Chipotle          Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---        --------          ---------------

         18-1035-019          72.50      77.35                                                    4.85                   4.10               137.63               88.38        VG        Naga Viper         Current Release
         -----------          -----      -----                                                    ----                   ----               ------               -----        ---       ----------         ---------------

         18-1080-001          21.00      21.50                                                    0.50                   0.40               611.00              140.00        VG        Naga Viper         Current Release
         -----------          -----      -----                                                    ----                   ----               ------              ------        ---       ----------         ---------------

         18-1080-003          35.70      37.20                                                    1.50                   1.00                19.24               19.24        VG        Naga Viper         Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------         ---------------

         18-1080-003 Including          35.70       36.18                0.48                      0.32                  58.20                58.20          VG           Naga Viper  Current Release
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---           ----------  ---------------

         18-1080-006          19.30      21.00                                                    1.70                   1.59                12.80               12.80        VG        Naga Viper         Current Release
         -----------          -----      -----                                                    ----                   ----                -----               -----        ---       ----------         ---------------

         18-1080-006 Including          20.48       21.00                0.52                      0.49                  39.80                39.80          VG           Naga Viper  Current Release
         ----------- ---------          -----       -----                ----                      ----                  -----                -----         ---           ----------  ---------------

         18-1080-006          36.88      41.23                                                    4.35                   4.08                 3.05                3.05                   Habanero          Current Release
         -----------          -----      -----                                                    ----                   ----                 ----                ----                   --------          ---------------

         18-1080-006 Including          40.52       41.23                0.71                      0.67                  11.10                11.10                        Habanero   Current Release
         ----------- ---------          -----       -----                ----                      ----                  -----                -----                        --------   ---------------

    *Au capped at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate


    **Intervals containing visible gold ("VG")


    †Final screen metallic analysis is pending on a subset of samples which have reported over limit (> 10 g/t) gold concentration in the
    AA analysis. In this release the interval is calculated using 10 g/t gold grade for these samples and this grade will be updated in the
    future once the final screen metallic assays are received

                                         Table 2. Fenelon Gold Property drill hole information
                                         -----------------------------------------------------

              Drill Hole ID UTM E UTM N                     Elevation                     Length    Azimuth     Dip     VG*        Note
                                                                                        (Metres)
    ---                                                                                  -------

    18-1030-006             10566  10999                           5213                          71         205      -6      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1030-007             10566  10999                           5213                          54         211     -13      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1030-008             10566  10999                           5213                          80         203     -17      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1030-009             10566  10999                           5213                          95         204     -27      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1030-010             10566  10999                           5213                         100         205     -32      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1030-011             10566  10999                           5213                         115         205     -38
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1030-012             10566  10999                           5213                         125         206     -45      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-002             10571  10997                           5214                          90         192     -29      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-003             10571  10997                           5214                          93         184     -28      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-004             10571  10997                           5214                          93         197     -24      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1035-005             10571  10997                           5214                          90         191     -22      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-006             10571  10997                           5214                          93         185     -22
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-007             10571  10997                           5214                          85         184     -17
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-008             10571  10997                           5214                          90         177     -18
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-009             10571  10997                           5214                          96         170     -17
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-010             10571  10997                           5214                          75         202     -13      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-011             10571  10997                           5214                          85         185     -11      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1035-012             10572  10996                           5214                          69         203      -6      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1035-013             10572  10996                           5214                          65         194      -8      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1035-014             10571  10997                           5214                         115         184     -43
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-015             10571  10997                           5214                         115         205     -44      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-016             10571  10997                           5214                         105         185     -39
    -----------             -----  -----                           ----                         ---         ---     ---

    18-1035-017             10571  10997                           5214                         105         198     -41      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1035-018             10571  10997                           5214                         100         185     -36      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1035-019             10571  10997                           5214                         100         193     -36      VG Further Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     --- ----------------------

    18-1075-001             10592  10955                           5214                          42         227     -12             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1075-002             10592  10955                           5214                          41         208      -8             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1075-003             10592  10955                           5214                          48         208     -25             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1080-001             10598  10949                           5214                          42         208     -25      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1080-002             10598  10949                           5214                          48         208     -38             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1080-003             10598  10949                           5214                          42         208     -48      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-1080-004             10598  10949                           5214                          45         185     -25             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1080-005             10598  10949                           5214                          33         185     -37             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1080-006             10598  10949                           5214                          42         185      -8      VG
    -----------             -----  -----                           ----                         ---         ---     ---     ---

    18-0990-006             10532  11019                           5215                         152         203     -48      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-007             10532  11019                           5215                         149         208     -48      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-008             10532  11019                           5215                         150         206     -45      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-009             10532  11019                           5215                         135         208     -42      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-010             10532  11019                           5215                         132         202     -40      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-011             10532  11019                           5215                         120         202     -36      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-012             10532  11019                           5215                         111         202     -28             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-0990-013             10532  11019                           5215                         132         208     -39      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-014             10532  11019                           5215                         126         208     -36      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-015             10532  11019                           5215                         105         209     -28             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-0990-016             10532  11019                           5215                         111         214     -15             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-0990-017             10532  11019                           5215                         152         211     -45      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-0990-018             10532  11019                           5215                         150         216     -46             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1000-002             10540  11014                           5215                         156         204     -49      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-003             10540  11014                           5215                         147         199     -46      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-004             10540  11014                           5215                         126         205     -45      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-005             10540  11014                           5215                         135         216     -46      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-006             10540  11014                           5215                         131         199     -40      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-007             10540  11014                           5215                         126         202     -38      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1000-008             10540  11014                           5215                         111         202     -29             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    18-1000-009             10540  11014                           5215                         102         203     -20      VG     Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---     ---     --------------

    18-1010-002             10549  11009                           5214                         150         201     -50             Assays pending
    -----------             -----  -----                           ----                         ---         ---     ---             --------------

    *Intervals containing
     visible gold ("VG")

Wallbridge's Fenelon Gold Property is located in northwestern Quebec proximal to the Sunday Lake Deformation Zone ("SLDZ") which hosts the Detour Gold Mine in Ontario, and Balmoral Resources' gold deposits at Martiniere. The Fenelon Gold Property hosts the Discovery Zone gold deposit and surrounding 4 km strike length of a gold-hosting secondary splay of the SLDZ.

Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate and a positive pre-feasibility study on the existing resource (see Wallbridge Press Release dated February 02, 2017). In addition, Wallbridge has completed surface exploration drilling campaigns and is currently drilling from underground as part of its 35,000-tonne bulk sample at Fenelon. Drilling to date has significantly extended existing zones and discovered several new parallel zones.

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 for Wallbridge Mining Company Limited.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.

Wallbridge is currently developing its 100%-owned high-grade Fenelon Gold property in Quebec with ongoing exploration and a bulk sample in 2018. Wallbridge is also pursuing other additional advanced-stage projects which would add to the Company's near-term project pipeline. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015. 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.

Wallbridge also has exposure to exploration for copper and gold in Jamaica and British Columbia through its 11.5% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited, a Wallbridge spin-out of its BC assets).

This press release may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the operations of Wallbridge and the environment in which it operates. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Wallbridge has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the costs associated with the development and operation of its properties. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, the need for additional funding to continue exploration and development efforts, changes in general economic, market and business conditions, and those other risks set forth in Wallbridge's most recent annual information form under the heading "Risk Factors" and in its other public filings. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Wallbridge. Although Wallbridge has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof.

Wallbridge disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer.

SOURCE Wallbridge Mining Company Limited

View original content with multimedia: http://www.newswire.ca/en/releases/archive/September2018/05/c5947.html

SOURCE: Wallbridge Mining Company Limited

Please visit the Company's website at www.wallbridgemining.com or contact: Wallbridge
Mining Company Limited, Marz Kord, P. Eng., M. Sc., MBA, President & CEO, Tel: (705)
682-9297 ext. 251, Email: [email protected]; David Ellis, Investor
Relations, Tel: (416) 704-0937, Email: [email protected]
Share
New Message
Please login to post a reply