Wallbridge Extends Fenelon Mineralization by 400 metres to Depth with 17.23 g/t Au over 4.00 metres in Initial Deep Exploration Hole - Seite 2

2020-2021 Drilling Program Update

In 2021, the Company is planning to complete approximately 170,000 metres of drilling; a maiden mineral resource estimate at Fenelon is anticipated in the third quarter (see Wallbridge Press Release dated January 11, 2021). Approximately 10-15% of the drilling program will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Currently, the Company has nine drill rigs operating at Fenelon. In the coming months, seven drill rigs will be targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization) to approximately 1,000 metres vertical depth, carrying out a combination of definition and expansion drilling at a nominal 75-metre drill spacing. Two drill rigs have been focusing on near-surface, open pit resource drilling in the western portion of Area 51. Additional drills may be devoted to Fenelon resource expansion, and regional grassroots exploration at various projects on the Company’s 900 km² Detour-Fenelon Gold Trend land package later in the year.

Assay results of one drill hole of the 2020/2021 exploration drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/20accbfb-7266-48cb ...
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e34d903-c846-47fe ...

Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
Drill Hole	From	To	Length	Au	Au Cut(2)	VG(3)	Zone/Corridor	Section
	(m)	(m)	(m)	(g/t)	(g/t)
FA-20-120A-W1	1626.00	1630.00	4.00	17.23	17.23	VG	Area 51- Deep	10200
Including…	1626.00	1627.00	1.00	65.08	65.08	VG	Area 51- Deep	10200
FA-20-120A-W1	1757.30	1758.00	0.70	8.70	8.70		Area 51- Deep	10200
FA-20-120A-W1	1786.00	1787.00	1.00	5.76	5.76	VG	Area 51- Deep	10200

⁽¹⁾ Table includes only assay results received since the latest press release dated March 22, 2021.