Mr. Marz Kord reports

WALLBRIDGE ANNOUNCES FULLY-FUNDED $4.0 MILLION EXPLORATION PROGRAM ON SUDBURY JOINT VENTURES

Wallbridge Mining Company Ltd. has provided the following update. The exploration committees for the Lonmin-financed joint ventures in Sudbury have approved programs totalling $3,958,000 for approximately 20,000 metres of drilling and other work to start Oct. 1, 2016. The approved programs of joint venture committees are subject to the usual final approval by Lonmin's board of directors.

"The exploration program for 2016-2017 is exciting in that it not only follows up on this year's success at expanding the near-surface mineralization at Parkin, but also will test other exploration targets at depth," said Marz Kord, president and chief executive officer of Wallbridge. "This exploration program will advance Wallbridge's exploration-stage assets in Sudbury and complements Wallbridge's current efforts in acquiring an advanced-stage gold asset, the Fenelon mine property, from Balmoral Resources, which the company is planning to rapidly advance to a production decision by mid-2017."

On Wallbridge's Parkin properties, the North Range joint venture exploration committee has approved a 2017 scope of work and budget, which includes $3,358,000 to complete approximately 18,000 metres of drilling, ground and borehole geophysics, as well as studies and permitting to evaluate and be prepared for a potential bulk sample.

Drilling in 2015 and earlier in 2016 at Parkin significantly expanded the extent of near-surface mineralization around the historical resource and identified several areas with significantly thicker mineralization than previously intersected. The 2017 drilling program will follow up these results, with the objective of establishing a significant near-surface resource. In addition, initial drilling to test several targets at depth and along strike will also be completed.

On the North Range and Wisner properties, the North Range joint venture exploration committee has approved a 2017 scope of work and budget, which includes $300,000 to complete fieldwork, surveys and possibly some drilling. Further exploration totalling $1.7-million has been recommended on these properties, but limited work is budgeted in order to focus on the more advanced exploration targets on the Parkin properties.

On the Sudbury Camp joint venture, the exploration committee has approved a 2017 scope of work and budget, which includes $300,000 to complete fieldwork, surveys and possibly some drilling. Further exploration totalling $6-million has been recommended on these properties, but limited work is budgeted in order to focus on the more advanced exploration targets on the Parkin properties.

The 2017 programs include up to $200,000 in rebates, which are expected to be received by Wallbridge in 2017 from the junior exploration assistance program (JEAP) sponsored by the Ontario Prospectors Association and the Northern Ontario Heritage Fund Corp. JEAP has committed to provide Wallbridge with a grant equal to 33.3 per cent of approved eligible exploration expenditures for up to a total of $100,000 on each of two projects, including drilling at Parkin and a regional boot and hammer exploration project under way this summer and fall.

Parkin properties overview

Wallbridge is exploring the Parkin properties for high-grade polymetallic nickel, copper and PGMs (platinum group metals) within the Parkin offset dike in Sudbury, Ont. The property includes the past-producing Milnet mine, the high-grade Milnet 1500 zone, a historical resource at surface and a number of high-grade surface occurrences.

Lonmin PLC may earn up to a 50-per-cent interest in the Parkin properties by financing aggregate payments and exploration expenditures of $11,083,000 over four years. Lonmin may then earn up to an additional 15 per cent in each Parkin property by financing them through to a feasibility study.

Between 2008 and 2012, Wallbridge completed drilling on the Parkin properties through the earlier joint venture financed largely by Impala Platinum Holdings Ltd. That work included drilling in 2008 and 2009 in the current target area, which yielded significant mineralization. Drilling from 2010 to 2012 was directed farther north, with much deeper drilling beneath the Milnet mine after the discovery in 2009 of the very-high-grade Milnet 1500 zone, which remains open.

In February, 2015, Wallbridge secured an option to repurchase Impala Platinum's 49.6-per-cent interest in the Parkin properties from an earlier joint venture at a substantial discount to Impala Platinum's $7.2-million prior expenditure.

Wallbridge attracted the current joint venture financing from Lonmin in the fall of 2015, following the successful results of four drill holes, mechanical stripping and channel sampling completed earlier that year.

On March 1, 2016, Wallbridge announced positive results from 13 drill holes that significantly expand the near-surface mineralization below and adjacent to the historical resource at Parkin. Nine of the holes intersected significant nickel-copper-PGM mineralization, with six of the holes intersecting semi-massive to massive sulphides.

On April 4, 2016, Wallbridge announced positive results from shallow drilling in and around the historical resource to evaluate the potential for a near-term bulk sample starter pit. Drill hole WMP-170 intersected significantly thicker mineralization than was previously modelled, including 24.25 metres of 1.22 per cent nickel, 1.5 per cent copper, 0.81 gram per tonne platinum, 0.96 gram per tonne palladium and 0.38 gram per tonne gold at very shallow depths from 35.6 to 59.85 metres downhole. This expands higher-grade portions of the historical resource and demonstrates the potential for significant near-surface tonnage.

On May 10, 2016, Wallbridge announced further positive results from drilling, including drill hole WMP-195, which identified a new very-shallow zone outside of the historical resource, with 7.46 metres of 1.36 per cent nickel, 1.02 per cent copper and 1.59 grams per tonne TPM (including 0.67 gram per tonne platinum, 0.74 gram per tonne palladium and 0.18 gram per tonne gold) from 58.6 to 66.06 metres downhole.

On May 31, 2016, Wallbridge announced that it had initiated an environmental baseline study and permitting for a bulk sample, as well as further positive drilling results following up the new mineralized zone identified in drill hole WMP-195. Results included drill hole WMP-199, which intersected 23.75 metres of mineralization, including 10.3 metres of 0.85 per cent nickel, 1.61 per cent copper and 1.4 grams per tonne TPM (including 0.61 gram per tonne platinum, 0.64 gram per tonne palladium and 0.15 gram per tonne gold) from 77 to 87.3 metres downhole; WMP-197, which intersected multiple mineralized zones over 36.62 metres; and WMP-200, which intersected multiple narrow mineralized zones over 36.85 metres.

Samples were prepared at ALS Chemex Ltd.'s laboratories in Sudbury and then shipped to its analytical facilities in Vancouver. Samples were analyzed for gold, platinum and palladium by standard lead oxide collection fire assay fusion with an atomic emission spectrometry (ICP-AES) finish. Samples were analyzed for base metals, silver and trace elements using a four-acid (HCIO4-HNO3-HF and HCI) near-total digestion and a combination of ICP-MS and ICP-AES finish. Copper and nickel overlimits or samples submitted as ore grade were analyzed using HNO3-HClO4-HF-HCl acid digestion, HCl leach and ICP-AES (some conditions require an AA finish). Sulphur overlimits were analyzed using total sulphur by LECO.

The qualified person responsible for the technical content of this press release is Joshua Bailey, PGeo, MSc, vice-president of exploration for Wallbridge. Mr. Bailey has prepared, supervised and approved the scientific and technical disclosures in this press release.

About Wallbridge Mining

Wallbridge is continuing active partner-financed exploration on its large portfolio of nickel, copper and PGM projects in Sudbury. Most of this work is financed by joint venture partners and has led to the discovery of numerous mineral occurrences, including the Broken Hammer deposit.

Wallbridge has further exposure to active exploration for copper and gold in Jamaica and British Columbia through its 15.6-per-cent ownership of Carube Copper Corp. Carube Copper's activities in Jamaica benefit from the financing by OZ Minerals Ltd., with which Carube Copper has two joint ventures.

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