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Wallbridge Intersects Multiple Structures with Gold Mineralization at Fenelon Gold Property

Wallbridge Mining Company Limited announce that the first hole of its 2019 surface drill program has intersected multiple visible gold-bearing shear zones and other abundant mineralized veins over an approximately 275 metre core length from it's Area 51 zone at the  Fenelon Gold property, located in northwestern Quebec proximal to the Sunday Lake Deformation Zone (SDLZ) which hosts the Detour Gold Mine.
 
These multiple structures and gold occurrences confirm the Area 51 discovery first announced on February 21, 2019 as a significant target which increases the ultimate size potential of the gold system at its Fenelon Gold property.  Assay results are pending and will be reported when received. In addition, Wallbridge continues to achieve positive results from the underground drill program targeting the extensions of the other known zones at Fenelon.
 
Six intersections of visible gold were observed in the first hole of 2019 surface drilling program (FA-19-052) within Area 51, confirming the significance of this previously unknown mineralized corridor located approximately 300 m west of the bulk sample area that was discovered by the last hole of the 2018 program (FA-18-051).
 
The Area 51 gold system appears to have formed along the regional contact of a, thus far unknown, southern extension of the Jeremie Pluton. Geophysical data indicates that this northwest-southeast-trending contact may extend over 2.5 kilometres on the property representing one of the main targets for the 2019 exploration drill program.
 
The Area 51 and Tabasco mineralized corridors now extend down to 500 metre vertical depth.
The main gabbroic sill and mineralized zones hosted within have now been extended down to 650 metre vertical depth. Chalcopyrite in silicified shear zones indicates the presence of the gold-bearing system.
 
Drilling results are as follows:
 
Surface Drilling
At drill hole FA-18-051:     
In addition to previously-reported assay results, in-fill sampling have now resulted 
in outlining additional mineralized zones within the newly discovered Area 51 gold 
system, including 5.16 g/t gold over 3.40 metres and 1.00 g/t gold over 5.65 metres.
 
Underground Drilling
At drill hole 18-5175-006:
5.74 g/t gold over 2.32 metres in the Naga Viper zone
 
At drill hole 18-5175-013:
3.38 g/t gold over 6.22 metres, including 5.05 g/t gold over 3.66 metres in the Naga 
Viper zone
 
At drill hole 19-5150-002:  
5.41 g/t gold over 3.77 metres, including 12.61 g/t gold over 1.28 metres in the 
Naga Viper zone.
 
The 2019 drill program began in late February with one surface and one underground drill rig. An additional two drill rigs are being added in April to achieve the 50,000 -75,000 metres of drilling planned for this year.
 
Visible gold was observed to be present in 5 of 12 underground holes and the one surface hole (FA-19-052) drilled in 2019 to date.
 
The balance of assay results from the 2018 drill program, as well as from the 2019 underground and surface drill programs, including hole FA-19-052, are currently pending.
 
"The goal of our 2019 program of 50,000 – 75,000 metres combined underground and surface drilling was designed to prove up substantial additional underground gold resources at Fenelon in preparation for an updated 43-101 resource estimate," stated Marz Kord, President & CEO of Wallbridge. "The Area 51 mineralized corridor is an exciting discovery that confirms the significant potential to expand the mineralized system at Fenelon. While underground drilling continues to expand resources to depth, surface drilling will test Area 51 as well as other targets property wide."
 
"Area 51 has proven to be a very significant mineralized corridor. The remarkable endowment of this gold-bearing system was indicated by numerous higher-grade shear zones within a low-grade gold halo over approximately 200 m core length in hole FA-18-051. The visible gold-bearing shear zones and other abundant mineralized veins over an approximately 275 metre core length in FA-19-052 increases our confidence in the potential of this discovery," stated Attila Péntek, Vice-President, Exploration of Wallbridge. "Surface drilling in Area 51 will initially aim for 50 to 100 metre step-outs on the known gold mineralization to test our concept of a continuous, kilometre-scale gold-bearing structure."
 
The 2019 underground resource drilling, designed to extend the known zones below the 2018/2019 bulk sample development to 350 metre depth, is being carried out from the recently established 230-metre-long exploration drift on the 5130 level (~125 metre depth).
 
An Orevision surface IP survey to test 600 metre strike length of the gold-hosting mineralized environment northwest of the main deposit was completed by Abitibi Geophysics Inc. in February. Results of this study are being incorporated with existing geophysical data into a coherent 3D model, which will be used to guide geologic modeling and drill targeting.
 
For more information http://www.wallbridgemining.com