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 46 of 76 holes
        drilled to date.
    --  Since the last press release (see
        Wallbridge Press Release dated October 09, 2018),
        highlights of received assay results are as follows:

     18-1000-002:  19.60 g/t gold over 2.09
                     metres in the Naga Viper
                     zone





     18-1000-003:  21.00 g/t gold over 4.56
                     metres in the Naga Viper
                     zone and




                    37.91 g/t gold over 5.26
                     metres in the Habanero zone





     18-0990-013:  13.92 g/t gold over 15.01
                     metres in a composite of
                     two zones including




                    10.31 g/t gold over 4.89
                     metres in the Paprika zone
                     and




                   24.30 g/t gold over 6.37
                     metres in the Habanero zone
                     (previously released in
                     Wallbridge Press Release
                     dated October 09)





     18-0990-014:  19.37 g/t gold over 1.68
                     metres in the Habanero zone





     18-0990-015:  13.25 g/t gold over 1.50
                     metres in the Chipotle zone

    --  Assay results from 30 underground drill holes are pending.
    --  Production from the third stope (CH-02) is underway and the
        fourth stope (NV-02) is being prepared.

Underground drilling to date from the 5213 Level has mainly targeted the high-grade shoots down to 5130 Level (~120 m depth), which is the lowermost level that is planned to be developed during the 2018 bulk sample program.

In the next few weeks drilling will focus below the 5130 Level. A new underground drill station has been developed on the 5180 Level, which will be used to target the main high-grade shoots down-plunge to 200 m 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.

A 10,000-metre surface drilling program is now also underway 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 as well as on the Company website.