Mr. Brian Penny reports

WALLBRIDGE ANNOUNCES SENIOR LEADERSHIP CHANGES

Effective immediately, Wallbridge Mining Company Ltd.'s board of directors has appointed Brian Penny and Mary Montgomery, who have been serving as interim chief executive officer and interim chief financial officer, respectively, since Oct. 10, 2023, to permanent positions as Wallbridge's CEO and CFO. In addition, the company announced the resignation of vice-president, exploration, Attila Pentek, effective March 31, 2024.

"The board has been very impressed with the way Brian and Mary have managed the company since October and is pleased that they have agreed to continue in a permanent capacity. With a track record of successful team building and a proven understanding of what drives value in our industry, Brian is exceptionally well suited to lead Wallbridge at this exciting stage in our development and in today's challenging market for gold equities. Mary has been a valuable part of Wallbridge for many years, and we are very pleased that the company will continue to benefit from her financial discipline and strong leadership skills," said Tony Makuch, chair of Wallbridge's board of directors.

"Since joining Wallbridge in 2018 I have witnessed the dedication and commitment Mary brings to work daily," said Mr. Penny. "Mary is a results-driven and highly experienced financial professional and I look forward to working closely with her and the rest of Wallbridge's talented team to develop and execute strategies to lead the company's next phase of growth."

Mr. Penny is an experienced mining Industry executive, with over 30 years of experience in leadership roles in finance. Prior to joining Wallbridge as CFO in 2018, Mr. Penny held a number of senior positions, including executive vice-president and CFO of New Gold Inc. and vice-president of finance and CFO of Kinross Gold Corp. He played a leading role in the performance of the companies he represented, maintaining capital allocation discipline and delivering shareholder returns, while strengthening the balance sheet. Mr. Penny also brings broad board experience, having served as non-executive director of Equinox Minerals Ltd. (2004 to 2011), Alamos Gold Inc. (2005 to 2008); and Baffinland Iron Mines Ltd. (2004 to 2008). Most recently, Mr. Penny served as a director of Maverix Metals Inc. (2019 to 2023). Mr. Penny is a CPA, CMA, with a strong background in M&A (mergers and acquisitions) spanning geographies, commodities, and stages of company and project development within the natural resource sector.

Ms. Montgomery joined Wallbridge in 2007, having previously held senior positions with a number of companies associated with the mining industry in Sudbury. Ms. Montgomery is a CPA, CA. She previously also held the positions of CFO of Miocene Metals Ltd. and CFO and vice-president of finance of Wallbridge.

Mr. Pentek commented: "I am leaving my role as VP, exploration, to pursue other opportunities. It has been an absolute pleasure working with the team at Wallbridge over the past 14 years. The company has an exceptionally talented exploration group whose passion and dedication are evident every single day. I am very pleased with all that we achieved so far at Wallbridge and am confident there is plenty more to come."

"On behalf of the board and stakeholders of Wallbridge, I would like to thank Attila for the role he played in establishing the exploration program that led to the discovery of over three million ounces of indicated gold resources and over two million ounces of inferred gold resources on the Detour-Fenelon gold trend. We wish him well in his future endeavours," said Mr. Makuch.

Mr. Penny added: "I would like to thank Attila for his leadership, which has enabled Wallbridge to advance to its current stage. He leaves the company with the people and platform in place for future growth." Mr. Pentek will remain in his current position to support Wallbridge through the management transition. The company will begin a search for a permanent VP, exploration, immediately.

The company has a young talented geology team. Mark Petersen, a highly experienced senior mining executive and economic geologist, has been engaged on a consulting basis to mentor the team and guide it through a seamless leadership transition Mr. Petersen has held senior exploration roles with a number of companies, including New Gold Inc., Metallica Resources Inc. and Lac Minerals Ltd. Most recently he served as VP, exploration, for mid-tier gold producer Calibre Mining Corp. where gold reserves tripled within two years under his leadership. The team will also be supported by the board, which has several members with strong technical backgrounds.

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 in Quebec's Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge's most advanced projects, Fenelon gold and Martiniere gold 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 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-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.

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