Wallbridge Reports Results from 2026 Fenelon PFS Metallurgical Drilling Program

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# Wallbridge Reports Results from 2026 Fenelon PFS Metallurgical Drilling Program

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# Wallbridge Reports Results from 2026 Fenelon PFS Metallurgical Drilling Program
Wallbridge Reports Results from 2026 Fenelon
PFS Metallurgical Drilling Program
Toronto, Ontario – September 2, 2026 – Wallbridge Mining Company Limited (TSX: WM, OTCQB:
WLBMF) (“Wallbridge” or the “Company”) is pleased to announce final assay results from seven holes
completed during the 2026 metallurgical drilling program at the Fenelon Gold Project. These results
provide further confidence in the geological and grade continuity of the deposit while delivering the high
quality of sample material needed to better characterize gold recovery characteristics and metallurgical
performance across the Fenelon deposit. The drilling targeted areas considered for underground mining
in the March 2025 Preliminary Economic Assessment (“PEA”) and provided representative samples for
metallurgical characterization and variability testing in support of the Pre-feasibility Study (“PFS”)
currently underway.
HIGHLIGHTS*
FAL-26-001 52.30 g/t Au over 2.1 m Including 67.97 g/t Au over 1.6 m
6.49 g/t Au over 2.8 m Including 12.50 g/t Au over 0.8 m
4.96 g/t Au over 3.1 m
FAL-26-002A 2.84 g/t Au over 6.4 m Including 10.51 g/t Au over 1.2 m, and 4.54 g/t Au over 0.5 m
6.43 g/t Au over 7.3 m Including 16.80 g/t Au over 2.0 m, and 19.40 g/t Au over 0.5 m
8.27 g/t Au over 16.4 Including 20.10 g/t Au over 1.0 m, 32.16 g/t Au over 1.1 m,
m 7.72 g/t Au over 6.9 m, and 11.34 g/t Au over 1.4 m
FAL-26-003 3.18 g/t Au over 3.8 m Including 8.33 g/t Au over 1.1 m
5.21 g/t Au over 6.0 m Including 10.23 g/t Au over 1.3 m, and 19.70 g/t Au over 0.6 m
25.41 g/t Au over 3.6 m Including 17.80 g/t Au over 0.6 m, and 63.90 g/t Au over 1.0 m,
and 8.46 g/t Au over 2.0 m
FAL-26-004 6.18 g/t Au over 2.0 m
11.81 g/t Au over 3.6 m Including 46.30 g/t Au over 0.8 m
9.89 g/t Au over 2.0m
FAL -26-005 4.03 g/t Au over 4.0 m Including 10.42 g/t Au 1.3 m
9.73 g/t Au over 2.2 m Including 13.17 g/t Au 1.5 m
10.67 g/t Au over 5.0 m Including 21.30 g/t Au 2.0 m, and 4.51 g/t Au over 2.0 m
FAL-26-006 9.47 g/t Au over 2.4 m
19.88 g/t Au over 2.0 m
FAL-26-007 25.91 g/t Au over 1.6 m
* True widths are estimated to be 70-90% of the reported core interval lengths.
“The results from the 2026 metallurgical drilling campaign underscore the strength and continuity of
gold mineralization within the areas of the Fenelon deposit contemplated for underground mining in the
conceptual PEA mine plan,” said Brian Penny, CEO of Wallbridge. “While these holes were drilled
primarily to provide representative material for metallurgical testing, they returned multiple significant
gold intercepts, including several higher-grade intervals outside the current mineral resource estimate
(“MRE”) as well as within zones specifically targeted for metallurgical testing. These results provide
further confidence in the geological and grade continuity of the deposit while delivering the high quality
of sample material needed to better characterize gold recovery characteristics and metallurgical
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WALLBRIDGE MINING COMPANY LIMITED
TSX| WM
OTCQB | WLBMF
performance across Fenelon as we advance the project toward its next major milestone, completion of
the PFS in late 2027 or early 2028.”
2026 Metallurgical Drilling and Testing Program
The 2026 metallurgical testing program is a key component of the Fenelon PFS. The program is
designed to characterize metallurgical variability and gold recovery performance across the portions of
the Fenelon deposit contemplated in the March 2025 PEA. In particular, the testwork will evaluate
whether recovery characteristics within areas of the mineral resource contemplated for underground
mining may vary materially across different grade ranges and mining periods during the first 15 years
of the 16-year PEA life-of-mine plan. The testing program will involve trade-off evaluations comparing
gold recoveries from three alternative mineral processing methods including whole ore leach, whole
ore leach with carbon, and flotation. Additional tests will be performed to evaluate the suitability of
residual tailings material for post-processing dry stack storage as contemplated in the PEA. The results
will be used to support the selection of appropriate recovery assumptions, processing parameters, and
tailings management criteria for the PFS.
The Company has engaged Synectiq Inc. (“Synectiq”), an independent mining consultancy
headquartered in Longueuil, Québec, to design and manage the metallurgical testing program, with
Base Metallurgical Laboratories Ltd. (“Base Met”) located in Kamloops, British Columbia, retained to
complete the test work program under Synectiq’s direction.
Seven dedicated HQ-diameter diamond drill holes totaling 3,144 metres were completed primarily to
provide the volume and spatial distribution of mineralized material required for the PFS metallurgical
testing program. In addition to supplying material for metallurgical testing, the drilling generated new
geological and assay information that will support preparation of an updated mineral resource estimate
for the PFS. Drill core intervals selected for metallurgical testing were split into half- and quarter-core
samples, with half-core retained for metallurgical testing, one quarter retained for future reference and
the remaining quarter submitted for assay in accordance with the Company’s standard analytical and
quality assurance/quality control procedures.
Metallurgical samples were selected primarily on the basis of gold grade and grouped into low-,
medium- and high-grade composites representing each of three five-year periods within the PEA mine
schedule, resulting in nine bulk composites for evaluation. The PFS testwork is designed to assess
potential variability in gold recovery across these grade ranges and mining periods. A more detailed
assessment of metallurgical characteristics by lithology and mineralization style is expected to form part
of a subsequent Feasibility Study, subject to successful completion of the PFS.
The drilling program has generated a total of 635 kilograms of mineralized material averaging 5.00 g/t
Au from areas within the PEA mine plan, approximately 20% more than the minimum required for the
planned testwork. An additional 185 kilograms of mineralized material averaging 6.92 g/t Au was
collected from drilled intervals peripheral to the current MRE and PEA mine plan for potential use in the
current and future metallurgical studies. In total, 820 kilograms of mineralized material has been
delivered to Base Met’s testing facility where preparation of the bulk composites is underway. Initial
results from the 2026 metallurgical testing program are expected in the latter half of the fourth quarter
of 2026.
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WALLBRIDGE MINING COMPANY LIMITED
TSX| WM
OTCQB | WLBMF
In addition to providing material for metallurgical testing, the seven holes contribute to the broader
Fenelon infill drilling program now being ramped up to further de-risk the project through the conversion
of Inferred mineral resources to Indicated classification for inclusion in the PFS mine plan and maiden
mineral reserve estimate. All seven holes intersected gold mineralization, structural controls and host
lithologies consistent with the current geological model for Fenelon, providing further confirmation of
geological and grade continuity across the defined mineral resource.
Assay results from portions of the holes targeting the PEA mine plan returned multiple significant gold
intercepts, including several broad and higher-grade intervals highlighted by 8.27 g/t Au over 16.4
metres in FAL-26-002A, 25.41 g/t Au over 3.6 metres in FAL-26-003 and 10.67 g/t Au over 5.0 metres
in FAL-26-005. Additional higher-grade intervals were intersected outside the areas included in the PEA
mine plan, including 52.30 g/t Au over 2.1 metres in FAL-26-001, 11.81 g/t Au over 3.6 metres in FAL-
26-004 and 25.91 g/t Au over 1.6 metres in FAL-26-007. These intervals represent additional targets for
follow-up evaluation within areas scheduled to be tested as part of the planned Fenelon infill drilling
program.
The 2026 metallurgical program is one of several technical workstreams underway to support
completion of the Fenelon PFS. Over the coming months, the Company plans to continue ramping up
the larger Fenelon infill drilling program while advancing metallurgical, engineering and other technical
trade-off studies aimed at further de-risking the project, upgrading mineral resources for inclusion in the
PFS mine plan and supporting the development of a maiden mineral reserve estimate.
The table below provides a summary of significant assay highlights from the 2026 metallurgical drilling
program at Fenelon:
Fenelon Project 2026 PFS Metallurgical Drilling Highlights1
3 3 3, 4
2 From To Length Au
DRILL HOLE VG*
(m) (m) (m) (g/t)
FAL-26-001 * 50.1 52.1 2.1 52.30
Including… 50.1 50.6 0.5 3.72
* 50.6 52.1 1.6 67.97
79.3 82.0 2.8 6.49
Including… 79.3 80.0 0.8 12.50
80.0 80.6 0.6 0.43
80.6 82.0 1.4 5.87
298.0 299.0 1.0 11.90
318.8 327.5 8.7 2.06
Including… 318.8 320.5 1.7 5.41
320.5 324.5 4.0 0.43
324.5 327.0 2.5 1.23
327.0 327.5 0.5 7.90
* 333.5 335.9 2.4 2.72
Including… 333.5 334.6 1.1 3.59
* 335.4 335.9 0.5 5.48
341.0 342.3 1.3 5.28
Including… 341.0 341.6 0.6 9.45
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WALLBRIDGE MINING COMPANY LIMITED
TSX| WM
OTCQB | WLBMF
Fenelon Project 2026 PFS Metallurgical Drilling Highlights1
3 3 3, 4
2 From To Length Au
DRILL HOLE VG*
(m) (m) (m) (g/t)
341.6 342.3 0.7 1.70
374.0 375.0 1.0 9.08
455.1 458.2 3.1 4.96
Including… 455.1 456.0 1.0 3.45
456.0 458.2 2.2 5.61
FAL-26-002A 409.5 414.5 5.0 2.34
Including… 409.5 412.0 2.5 1.80
412.0 414.5 2.5 2.87
420.5 427.5 7.0 2.26
Including… 420.5 422.0 1.5 1.61
422.0 424.1 2.1 0.13
424.1 427.5 3.4 3.86
489.3 493.0 3.7 2.06
Including… 489.3 492.0 2.7 2.57
492.0 493.0 1.0 0.71
* 501.6 508.0 6.4 2.84
Including… 501.6 504.1 2.5 1.17
* 504.1 505.3 1.2 10.51
505.3 507.5 2.2 0.18
* 507.5 508.0 0.5 4.54
* 562.0 569.3 7.3 6.43
Including… 562.0 564.0 2.0 16.80
* 564.0 566.0 2.0 1.51
566.0 568.8 2.8 0.22
* 568.8 569.3 0.5 19.40
* 585.0 587.0 2.0 9.21
634.5 643.5 9.0 1.50
Including… 634.5 639.0 4.5 1.17
639.0 642.0 3.0 0.05
642.0 643.5 1.5 5.40
679.5 682.0 2.5 2.70
* 727.3 743.6 16.4 8.27
Including… 727.3 730.0 2.8 3.04
730.0 731.0 1.0 20.10
731.0 732.4 1.4 1.56
* 732.4 733.5 1.1 32.16
733.5 734.6 1.1 0.02
* 734.6 741.5 6.9 7.72
741.5 742.2 0.7 0.02
742.2 743.6 1.4 11.34
FAL-26-003 445.9 448.3 2.4 3.33
Including… 445.9 447.4 1.5 1.49
447.4 448.3 0.9 6.23
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WALLBRIDGE MINING COMPANY LIMITED
TSX| WM
OTCQB | WLBMF
Fenelon Project 2026 PFS Metallurgical Drilling Highlights1
3 3 3, 4
2 From To Length Au
DRILL HOLE VG*
(m) (m) (m) (g/t)
491.8 495.6 3.8 3.18
Including… 491.8 492.9 1.1 8.33
492.9 495.6 2.8 1.21
579.0 580.9 1.9 4.32
598.0 599.7 1.6 7.89
649.0 655.0 6.0 5.21
Including… 649.0 651.0 2.0 1.29
651.0 652.3 1.3 10.23
652.3 653.0 0.7 1.00
653.0 653.6 0.6 19.70
653.6 655.0 1.4 2.03
657.4 661.0 3.6 25.41
Including… 657.4 658.0 0.6 17.80
658.0 659.0 1.0 63.90
659.0 661.0 2.0 8.46
FAL-26-004 118.0 121.0 3.0 1.95
148.5 150.5 2.0 2.93
261.5 263.5 2.0 6.18
314.0 317.6 3.6 11.81
Including… 314.0 316.0 2.0 2.05
316.0 316.8 0.8 46.30
316.8 317.6 0.8 1.04
329.0 331.0 2.0 9.89
349.5 351.6 2.1 2.67
368.5 370.5 2.0 3.65
529.0 532.0 3.0 3.30
Including… 529.0 530.0 1.0 6.92
530.0 532.0 2.0 1.49
* 552.5 558.8 6.3 2.22
552.5 558.3 5.8 1.68
* 558.3 558.8 0.5 8.45
FAL-26-005 148.0 152.0 4.0 4.03
Including… 148.0 149.3 1.3 10.42
149.3 151.0 1.7 0.19
151.0 152.0 1.0 2.25
* 159.4 161.5 2.2 9.73
Including..* 159.4 160.0 0.7 1.78
160.0 161.5 1.5 13.17
* 171.0 176.0 5.0 10.67
Including… 171.0 172.0 1.0 1.72
* 172.0 174.0 2.0 21.30

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