11:57:39 EDT Tue 07 Jul 2020
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Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 586,997,997
Close 2020-04-08 C$ 0.57
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Wallbridge extends operation suspensions to May 4

2020-04-08 10:46 ET - News Release

Mr. Brian Penny reports


In response to the latest COVID-19 plans of the governments of Ontario and Quebec, Wallbridge Mining Company Ltd.'s exploration activities, originally expected to be suspended until April 15, 2020, will remain suspended until at least May 4, 2020, at its 100-per-cent-owned Fenelon gold project located in the Abitibi greenstone belt, Quebec, as well as its operations in Ontario. Limited care-and-maintenance operations aimed at protecting the facilities and environment continue. The company is also withdrawing its full-year 2020 exploration drilling guidance of 100,000 metres to 120,000 m to assess COVID-19's impact. The company's drill contractors remain prepared to continue drilling with six surface drill rigs as soon as site activities can be resumed.

To date, Wallbridge has had no suspected or confirmed cases of COVID-19, and has had a COVID-19 protocol in place to protect its work force. Workers impacted by the suspension of activities will receive their base wages until May 4, 2020. Wallbridge, in these difficult times, thanks its work force, partners and all stakeholders for their understanding and support, and is looking forward to resuming exploration activities when possible.

Wallbridge continues to maintain and advance its projects with staff working from home on permitting, engineering studies, geologic interpretation and modelling, and exploration targeting. The assay laboratories are experiencing some delays, but are continuing to report assays, which will be released as they become available. All results of the approximately 26,000 m of drilling completed so far in 2020 should be received within the next four to six weeks.

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.

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