11:36:01 EDT Tue 07 Jul 2020
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Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 591,666,961
Close 2020-05-13 C$ 0.99
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Wallbridge resumes exploration at Fenelon

2020-05-14 11:09 ET - News Release

Mr. Brian Penny reports


Wallbridge Mining Company Ltd. resumed exploration activities at its 100-per-cent-owned Fenelon gold project located in the Abitibi greenstone belt, Quebec, on May 11, 2020, as a result of the Quebec government's confirmation that all mining sector activities in the province was allowed to resume as of that date.

"Our top priority is always the health and safety of our employees," said Wallbridge President and CEO Marz Kord. "We have been fortunate to have no confirmed cases of COVID-19 amongst our staff and we want to keep it that way. The Company has rigorous safety protocols in place to address COVID-19 at Fenelon, such as temperature screening, compliance with additional hygiene measures, and task observation to ensure that all work is performed respecting physical distancing and the use of appropriate personal protective equipment."

The Fenelon gold project was put on limited care and maintenance aimed at protecting the staff, contractors, surrounding communities, facilities and the environment effective March 23, 2020 in response to COVID-19. Since that date, staff has been busy working remotely on geological modelling, technical studies, and other project-related activities. The Company plans to operate 4 drills operating for the foreseeable future. As previously announced, the Company has revised its fully-funded 2020 Fenelon exploration program to an estimated 70,000 to 80,000 metres of drilling in light of the recent suspension of activities due to COVID-19. Management is also developing 2020 exploration programs for the Balmoral Resources Ltd. (" Balmoral ") land package, to be undertaken following closing of the Balmoral acquisition, expected to be completed on or about Friday, May 22, 2020.

The Company would like to thank its workforce, partners and all stakeholders for their understanding and support over the past few weeks, and is looking forward to the resumption of exploration activities and continuing the momentum that has been generated over the past year.

About Wallbridge Mining

The Company is currently developing its 100%-owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, in an emerging gold belt in northwestern Quebec with a current exploration drill program of 70,000 to 80,000 metres 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% shareholder in, Loncan Canada Inc., a privately-held company with a large portfolio of nickel, copper, and PGM projects in Ontario's Sudbury Basin.

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