Wallbridge Announces Senior Leadership Changes

TORONTO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that, effective immediately, its Board of Directors has appointed Brian Penny and Mary Montgomery, who have been serving as Interim Chief Executive Officer and Interim Chief Financial Officer, respectively, since October 10, 2023, to permanent positions as Wallbridge’s CEO and CFO. In addition, the Company announced the resignation of Vice-President, Exploration Attila Pentek, effective March 31, 2024.

“The Board has been very impressed with the way Brian and Mary have managed the Company since October and is pleased that they have agreed to continue in a permanent capacity. With a track record of successful team building and a proven understanding of what drives value in our industry, Brian is exceptionally well suited to lead Wallbridge at this exciting stage in our development and in today’s challenging market for gold equities. Mary has been a valuable part of Wallbridge for many years, and we are very pleased that the Company will continue to benefit from her financial discipline and strong leadership skills,” said Tony Makuch, Chair of Wallbridge’s Board of Directors.

“Since joining Wallbridge in 2018 I have witnessed the dedication and commitment Mary brings to work daily,” said Mr. Penny. “Mary is a results-driven and highly experienced financial professional and I look forward to working closely with her and the rest of Wallbridge’s talented team to develop and execute strategies to lead the Company’s next phase of growth.”

Mr. Penny is an experienced mining Industry executive, with over 30 years’ experience in leadership roles in finance. Prior to joining Wallbridge as CFO in 2018, Mr. Penny held a number of senior positions, including Executive Vice President and CFO of New Gold Inc. and Vice President of Finance and CFO of Kinross Gold Corporation. He played a leading role in the performance of the companies he represented, maintaining capital allocation discipline, and delivering shareholder returns, while strengthening the balance sheet. Mr. Penny also brings broad board experience, having served as non-executive director of Equinox Minerals Limited (2004 to 2011), Alamos Gold Inc. (2005 to 2008); and Baffinland Iron Mines Limited (2004 to 2008). Most recently, Mr. Penny served as a Director of Maverix Metals Inc. (2019 to 2023). Mr. Penny is a CPA, CMA with a strong background in M&A spanning geographies, commodities, and stages of company and project development within the natural resource sector.