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TORONTO, Sept. 02, 2026 (GLOBE NEWSWIRE) — 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.
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HIGHLIGHTS*
Article contentWe apologize, but this video has failed to load.Try refreshing your browser, or
tap here to see other videos from our team.Article contentArticle content FAL-26-00152.30 g/t Au over 2.1 mIncluding 67.97 g/t Au over 1.6 m 6.49 g/t Au over 2.8 mIncluding 12.50 g/t Au over 0.8 m 4.96 g/t Au over 3.1 m FAL-26-002A2.84 g/t Au over 6.4 mIncluding 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 mIncluding 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 mIncluding 20.10 g/t Au over 1.0 m, 32.16 g/t Au over 1.1 m,
7.72 g/t Au over 6.9 m, and 11.34 g/t Au over 1.4 m FAL-26-0033.18 g/t Au over 3.8 mIncluding 8.33 g/t Au over 1.1 m 5.21 g/t Au over 6.0 mIncluding 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 mIncluding 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-26-0046.18 g/t Au over 2.0 m 11.81 g/t Au over 3.6 mIncluding 46.30 g/t Au over 0.8 m 9.89 g/t Au over 2.0m FAL -26-0054.03 g/t Au over 4.0 mIncluding 10.42 g/t Au 1.3 m 9.73 g/t Au over 2.2 mIncluding 13.17 g/t Au 1.5 m 10.67 g/t Au over 5.0 mIncluding 21.30 g/t Au 2.0 m, and 4.51 g/t Au over 2.0 m FAL-26-0069.47 g/t Au over 2.4 m 19.88 g/t Au over 2.0 m FAL-26-00725.91 g/t Au over 1.6 m * True widths are estimated to be 70-90% of the reported core interval lengths.Article content
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“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 performance across Fenelon as we advance the project toward its next major milestone, completion of the PFS in late 2027 or early 2028.”
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2026 Metallurgical Drilling and Testing Program
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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.