Mr. Marz Kord reports

WALLBRIDGE COMMENCES PHASE-ONE DRILL TESTING OF GRASSET GOLD TARGETS

Drill testing on 11 new gold exploration targets at Wallbridge Mining Company Ltd.'s 100-per-cent-owned Grasset gold property has begun.

"The discovery of new gold zones on Wallbridge's large and highly prospective land package in northern Abitibi, Quebec, is a key objective of the 2023 exploration plan we announced in January. Located only 15 kilometres east of Wallbridge's flagship Fenelon gold project, Grasset Gold is a prime example of the potential of our land position in the underexplored Detour-Fenelon gold trend," said Attila Pentek, Wallbridge's vice-president, exploration.

"We are excited to start drilling at the Grasset East Flexure target, which has been intriguing our geology team since the acquisition of the property from Balmoral Resources in 2020. After completing a high-resolution airborne magnetics survey last year, followed by geologic interpretation and targeting, we have selected priority targets for our initial phase 1 drill program to test this underexplored target area favourable for gold deposition."

Grasset gold exploration program

The Grasset East Flexure target area covers the central portion of a fold-structure identified from airborne magnetic surveys and a strong flexure in the Sunday Lake deformation zone, the primary structure controlling gold deposition along the Detour-Fenelon gold trend.

The company is planning to complete approximately 5,000 metres of diamond drilling on the 11 targets over this large area of 4.5 kilometres (km) by 3.5 km that has yet to be drilled.

Such folds and flexures along major structures are favourable sites for fluid circulation and are common host environments for gold deposition in greenstone belts globally, including at Fenelon. The targets outlined in today's release are designed to test key locations throughout the Grasset East Flexure area that were identified based on geologic features and secondary structures interpreted from the magnetic surveys.

Assay QA/QC (quality assurance/quality control) and qualified persons

Drill core samples from the continuing drill program on the Detour-Fenelon gold trend property are cut and bagged either on site or by contractors and transported to SGS Canada Inc. for analysis. Samples, including standards and blanks for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90 per cent less than two millimetres. A one-kilogram riffle split is pulverized to 85 per cent passing 75 microns. Fifty-gram samples are analyzed by fire assay and AAS (atomic absorption spectrometry) or ICP (inductively coupled plasma). Samples over 10 grams per tonne (g/t) gold are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and 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 reanalysis for quality assurance and quality control.

The qualified person responsible for the technical content of this press release is Christopher Kelly, MSc, PGeo, senior geologist of Wallbridge.

About Wallbridge Mining Company Ltd.

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon gold trend while respecting the environment and communities where it operates.

We seek Safe Harbor.