Wallbridge Mining Company Limited (TSX:WM, FWB:WC7) ("Wallbridge" or the "Company") is pleased to announce that it has completed a successful initial drill program designed to test the continuity of two high-grade shoots within the B-14 shear zone at its recently-optioned Beschefer property ("Beschefer" or "Beschefer Project").

Highlights

    --  Five drill holes totaling approximately 1,600 metres were
        completed in less than three weeks.
    --  All five drill holes intersected the mineralized B-14 shear
        zone where expected, proving excellent geological continuity of
        this gold-bearing structure.
    --  The mineralized intersection in the deepest drill hole of the
        program, BE18-052, represents a 40-metre down plunge step-out
        from the previous highlight intersection of 55.63 g/t gold over
        5.57 metres in BE13-038.
    --  A more substantial exploration program and delivery of a maiden
        resource estimate are planned for 2019.

Mineralization typical of gold-bearing portions of the shear zone was intersected in all five holes at the expected depths demonstrating the continuity of the mineralized system within the two high-grade shoots. Previous wide-spaced drilling (75-100 m) was filled in by four holes (BE18-048 to -051) resulting in 25-45 m spacing. The mineralized shear zone interval intersected in BE18-052, approximately 40 metres down plunge from the last historic high-grade intersection in this eastern shoot, indicates that gold mineralization remains open down-plunge. Assay results are pending and will be released when available.

"Our initial drill program at Beschefer has successfully achieved all of its objectives and has proven the exceptional potential of this project. The first four drill holes demonstrated the remarkable continuity and predictability of the gold-bearing B-14 structure, whereas our last hole of the program provided a further 40 metre down-plunge step-out indicating the potential to expand the high-grade gold mineralization," stated Attila Péntek, Vice-President, Exploration of Wallbridge. "We are very keen to accelerate resource drilling and exploration on this project with an aim to publish a maiden resource estimate in 2019."

About the Beschefer Project

The Beschefer Project covers 647 hectares and is located in the Northern Abitibi Greenstone Belt, 14 km east of the past-producing polymetallic Selbaie Mine, 45 km northeast of the Casa Berardi Mine and 28 km from Wallbridge's Fenelon Gold Property. Historically, the area has mainly been explored for volcanogenic massive sulfide deposits similar to the Matagami camp and the Selbaie Mine.

Gold mineralization was discovered in the B-14 Zone in 1995 by Billiton Canada Inc. and the property has seen very limited exploration before the involvement by Excellon in 2011, which completed approximately 17,000 metres of drilling up to 2013. Excellon's programs produced very positive results, extending the B-14 mineralization down to almost 600 metres vertical depth, discovering the upper shear zone and intersecting the highest-grade intersections on the property, including 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres. Excellon's primary focus is on production and exploration at its Platosa Mine and Miguel Auza Property in Mexico. Up to Wallbridge's current program there has been no exploration at Beschefer since 2013.

Wallbridge entered into an option agreement to acquire 100% of Beschefer as part of its strategy of building a gold production pipeline in the emerging Sunday Lake-Selbaie Belt (see Wallbridge Press Release dated October 17, 2018).