Mr. Brian Penny reports

WALLBRIDGE 2024 DRILLING PROGRAM TO FOCUS ON UPGRADING GOLD RESOURCES AT MARTINIERE AND FENELON AS WELL AS GRASSROOTS EXPLORATION

Wallbridge Mining Company Ltd. has planned a fully financed 2024 exploration program that prioritizes upgrading gold resources at Martiniere and Fenelon as well as the testing of priority grassroots exploration targets on the company's extensive and highly prospective Detour-Fenelon gold trend property in Northern Abitibi, Quebec.

Highlights of 2024 Program

Drilling program of 23,000 metres, including:

• 13,000 metres of resource and exploration drilling at Martiniere
• 5,000 metres of resource and exploration drilling at Fenelon, and
• 5,000 metres allocated to grassroots exploration drilling elsewhere on the Property.

Continuing technical studies to optimize the economics for a combined Fenelon/Martiniere Preliminary Economic Assessment ("PEA").

Exploration costs are fully-funded with cash balance of approximately $29.8 million at year-end 2023.

"Based on the 2023 PEA, Fenelon alone has the potential to produce 200,000 ounces of gold annually for 12 years, but we see this as only the beginning of the story. Martiniere's promising geology and proximity to Fenelon may offer economic synergies which we need to fully evaluate in preparation for a combined Fenelon/Martiniere PEA by early 2026. At the same time, we recognize that the rest of our 830 square kilometre land package has also tremendous potential for discovery. As such, we will continue to test exploration targets at Fenelon and elsewhere on our dominant property position on the Detour-Fenelon Gold Trend," said Brian Penny, Interim President & CEO of the Company.

"Our main objective in 2024 is to advance and de-risk Martiniere and test a number of targets within or near the Fenelon deposit footprint, with the primary objective of finding additional near surface gold mineralization to potentially improve the economics of the project. Regionally, on our extensive underexplored land package, we will continue to advance our grassroots exploration targets and test the most compelling drill-ready targets in search for new discoveries," added Attila Pentek, Vice President Exploration.

2024 Exploration Program

Approximately 55% of the planned 23,000 metres of drilling will be devoted to infilling and expanding the mineral resource at Martiniere, with the balance allocated to Fenelon and regional grassroots exploration. In addition, funding has been allocated for technical studies at Martiniere and Fenelon for the delivery of a PEA in a realistic timeframe that further evaluates the potential economics of both the Fenelon and Martiniere deposits.

Martiniere Exploration Program

Martiniere currently has a mineral resource estimate ("MRE") of 0.68 million ounces of gold in the Indicated category and 0.63 million ounces of gold in the Inferred category (see Wallbridge press release dated January 17, 2023). The budgeted drilling in 2024 will be carried out in two phases: Phase 1 of approximately 7,500 metres is scheduled for March and April 2024, with Phase 2 of approximately 5,500 metres planned for the third quarter of the year.

The Phase 1 program is designed to increase confidence in the MRE by collecting representative material for metallurgical test work and doing down-hole geotechnical imaging to further improve our understanding of the structural controls on gold deposition. Phase 2 will be targeting extensions of known gold zones both laterally and down-plunge at depth in order to further expand the deposit. The Company also plans to sample in-fill drill core (approximately 5,000 metres) from historic drilling programs that has not been previously analyzed to potentially identify further gold mineralization in the deposit area.

Technical studies for Martiniere, including metallurgical test work, geomechanics and hydrogeology are scheduled to start in early 2024.

Fenelon Exploration Program

The PEA for the Fenelon project resulted in an average annual gold production of 212,000 ounces over a 12-year mine life (see Wallbridge press release dated June 26, 2023) based on the current MRE of 2.37 million ounces of gold in the Indicated category and 1.72 million ounces of gold in the Inferred category (see Wallbridge press release dated January 17, 2023). The 5,000 metres of drilling planned for Fenelon in 2024 is mainly designed to test gold mineralization in the vicinity of the PEA mine design where there is potential to improve the project's overall economics.

Several technical studies are also planned in 2024 at Fenelon with the goal of further enhancing the economics of the project.

Regional Exploration

Regionally, approximately 5,000 metres of drilling is planned for 2024 with the objective of discovering new mineralized gold zones on high-priority targets located within Wallbridge's massive land package on the highly-prospective Detour-Fenelon Gold Trend. Field work (outcrop mapping and prospecting) and some geophysical work is also planned.

The Qualified Person responsible for the technical content of this press release is Francois Chabot, Eng., the Company's Manager of Technical Services.

About Wallbridge Mining

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Quebec's Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge's most advanced projects, Fenelon Gold ("Fenelon") and Martiniere Gold ("Martiniere") incorporate 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.

Wallbridge has reported a positive Preliminary Economic Assessment ("PEA") at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years (see Wallbridge press release of June 26, 2023).

Wallbridge also holds a 15.9% 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.

We seek Safe Harbor.