Mr. Brian Penny reports

WALLBRIDGE CLOSES PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF COMMON SHARES

Wallbridge Mining Company Ltd. has completed the previously announced non-brokered private placement with Agnico Eagle Mines Ltd. of 7,926,277 common shares in the capital of the company at a price of 11 cents per common share. The private placement was undertaken pursuant to certain participation rights set out in a pre-existing participation agreement between the Company and a predecessor of Agnico.

With the net proceeds from the Private Placement, together with the $9.4 million of gross proceeds from the flow through private placement that closed on October 26, 2023, the Company expects to have a year end cash balance of approximately $25 million, which it anticipates will be sufficient to fund the 2024 exploration program on the Company's Detour-Fenelon Gold Property (the "Detour-Fenelon Gold Trend Property"). The Company will announce details of its exploration plans in 2024 once board approval has been obtained.

All common shares issued pursuant to the Private Placement are subject to a four month and one day statutory hold period.

About Wallbridge Mining

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 Gold ("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%-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 km2 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 on its 100%-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% interest in the common shares of Archer Exploration Corp. ("Archer") as a result of the sale of the Company's portfolio of nickel assets in Ontario and Quebec in November of 2022.

The scientific and technical content of this news release has been reviewed and approved by Francois Chabot., Eng., the Company's Manager of Technical Services, a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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.