12:24:06 EDT Tue 07 Jul 2020
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Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 586,997,997
Close 2020-03-23 C$ 0.46
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Wallbridge temporarily suspends Fenelon, Ontario ops

2020-03-23 19:46 ET - News Release

Mr. Marz Kord reports


In response to the order of the government of Quebec and the government of Ontario with regard to the COVID-19 outbreak, effective immediately, Wallbridge Mining Company Ltd. is temporarily suspending operations at its 100-per-cent-owned Fenelon gold project, located in the Abitibi greenstone belt, Quebec, as well as its operations in Ontario, until April 15, 2020.

Wallbridge is committed to the well-being of all its stakeholders. Management is pleased to report that it has had no suspected or confirmed cases of COVID-19 at any of its locations, and the company has implemented a COVID-19 protocol to do what it can to protect its work force, to protect its contractors and to protect all of the communities in which it operates. Wallbridge will continue to provide information and updates as appropriate and intends to resume full operations at all of its locations as soon as possible.

As the situation regarding the COVID-19 pandemic is dynamic, Wallbridge is currently unable to determine the impact on its 2020 operating guidance.

About Wallbridge Mining Company Ltd.

The company is currently developing its 100-per-cent-owned Fenelon gold property, which is located proximal to the Sunday Lake deformation zone, in an emerging gold belt in northwestern Quebec with continuing 100,000- to 120,000-metre exploration drill program in 2020 and a 33,500-tonne bulk sample and 75,000 metres of drilling completed in 2019. Wallbridge is also pursuing additional advanced-stage projects, which would add to the company's near-term project pipeline. Wallbridge is also the operator of, and a 16.5-per-cent shareholder in, Loncan Canada Inc., a privately held company with a large portfolio of nickel, copper and platinum group metal projects in Ontario's Sudbury basin.

As announced in the Wallbridge press release dated March 2, 2020, Wallbridge and Balmoral Resources have entered into a definitive agreement, whereby Wallbridge will, among other things, acquire all of the issued and outstanding shares of Balmoral, in an all-stock transaction.

We seek Safe Harbor.

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