Mr. Brian Penny reports

WALLBRIDGE ANNOUNCES BOARD AND SENIOR MANAGEMENT CHANGES

Wallbridge Mining Company Ltd.'s Marz Kord is retiring from his role as president and chief executive officer (CEO) and director, effective immediately. Mr. Kord will remain employed until Dec. 31, 2023, to support the management team through the management transition. In addition, Parviz Farsangi has decided to retire from the board of directors. Both Mr. Kord and Mr. Farsangi will continue as advisers to the company and the board.

Brian Penny, the company's chief financial officer (CFO), will assume the role of interim CEO and joins the board as a director. Mary Montgomery will assume the role of interim CFO. Both appointments are effective immediately.

Mr. Penny has over 30 years of mining industry experience in financial management, strategic planning and financial reporting. Prior to joining the company as CFO in 2018, Mr. Penny held senior positions such as executive vice-president and CFO of New Gold Inc. and vice-president of finance and CFO of Kinross Gold Corp. Most recently, Mr. Penny served as a director of Maverix Metals Inc. (2019 to 2023). In addition, he has also served as a member of the board of Equinox Minerals Ltd. (2004 to 2011), Alamos Gold Inc. (2005 to 2008); and Baffinland Iron Mines Ltd. (2004 to 2008). Mr. Penny obtained his diploma in business-accounting and finance from Cambrian College and is a CPA, CMA.

Anthony Makuch, chair of the board, stated: "On behalf of the board, I would like to thank both Marz and Parviz for their hard work and long-standing service to Wallbridge. Both individuals have been involved in the advancement of the company's flagship Fenelon gold project, and their industry experience was instrumental in the completion of the Fenelon preliminary economic assessment (PEA) in June, 2023. Marz spearheaded the development and mining of the Sudbury Ni/Cu/PGE Broken Hammer project. His business acumen led the company to the Fenelon gold project and subsequent acquisition of Balmoral Resources which significantly expanded Wallbridge's land holdings from 10.5 square km to 830 square km along the Detour gold trend within the prolific Abitibi greenstone belt. We wish them both well in their future endeavours.

"With over 30 years of varied experience in the mining industry, we believe that Brian will provide a seamless transition and is the ideal candidate to assume the interim CEO role. We have been working with Brian as the CFO since 2018, and the board and I are very confident that Brian will successfully lead the company as we continue to explore our very large and highly prospective land position in northwestern Quebec and advance Fenelon," added Mr. Makuch.

Mr. Penny stated: "I am excited to take on the role as interim CEO at Wallbridge. I am proud of the Wallbridge team, the relationships that have been established with our local first nations communities and the work that has been accomplished to date. In addition to our two gold deposits at Fenelon and Martiniere, we control over 90 kilometres of strike length along the Detour-Fenelon gold trend in Quebec and look forward to advancing our projects in this world-class mining jurisdiction."

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.

Wallbridge's flagship project, Fenelon, is located on the highly prospective Detour-Fenelon gold trend property in Quebec's northern Abitibi region. An updated mineral resource estimate completed in January, 2023, yielded significantly improved grades and additional ounces at the 100-per-cent-owned Fenelon and Martiniere projects, incorporating a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830-square-kilometre exploration land package controlled by Wallbridge. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits.

Wallbridge has reported a positive preliminary economic assessment (PEA) on its 100-per-cent-owned Fenelon gold project with an estimated average annual gold production of 212,000 ounces over 12.3 years (see Wallbridge press release of June 26, 2023).

Wallbridge also holds a 19.9-per-cent interest in the common shares of Archer Exploration Corp. as a result of the sale of the company's portfolio of nickel assets in Ontario and Quebec in November of 2022.

Wallbridge will continue to focus on its core Detour-Fenelon gold trend property while enabling shareholders to participate in the potential economic upside in Archer.

We seek Safe Harbor.