WLBMF News & Events

Wallbridge Mining received $4.7M of cash refunds with respect to its 2024 Quebec Tax Credit Relating to Resources that were claimed on its 2024 Quebec income tax return. The government of Quebec supports mineral exploration within the province. One incentive that Wallbridge is entitled to receive is a tax credit that refunds a portion of eligible exploration expenses incurred and not funded by Quebec Flow Through shares. The receipt of the TCRR Quebec investment tax credits will be used to continue to advance the Company's exploration and development programs at Martiniere, Fenelon and other of the Company's mineral properties.

Wallbridge Mining (WLBMF) sold mineral claims comprising the Detour East property to Agnico Eagle Mines (AEM) for cash consideration of $8M plus a 2% NSR royalty over the property. The Detour East claims were the subject of an existing earn-in agreement between Wallbridge and Agnico Eagle. The transaction provides immediate liquidity to Wallbridge and will allow it to focus on the continued exploration and development of its Detour-Fenelon Gold Trend Property located in the northern Abitibi region of Quebec.

Wallbridge Mining announces that it has commenced its second phase of drilling at its fully owned Martiniere gold project. The Phase 2 campaign has been designed to follow up on the positive results returned from its Phase 1 drilling campaign completed in May of this year. The Company is continuing to explore the broader mineralized gold system at Martiniere. Exploration is currently focused along the northwest-southeast trending Bug Lake deformation corridor and satellite targets located within 100 to 500 metres of the Martiniere mineral resource. During Phase 2, drilling will target potential extensions to high-grade gold mineralization along the Dragonfly, Horsefly and Martiniere North zones, as well as the newly identified Martiniere Northeast target where drill hole MR-25-115 returned a 6.0 metres grading 3.84 g/t Au.

Wallbridge Mining Company announced the results for the remaining seven holes from its first phase of drilling at its fully owned Martiniere gold project. These results include additional high-grade gold intercepts from extensions of three zones targeted along the Bug Lake deformation corridor. "The final results of our Phase 1 drilling program reinforce our conviction in the growth potential of the Martiniere gold system, which we believe extends well beyond the currently defined mineral resource," commented Brian Penny, CEO. "Our exploration team is now using these encouraging results, together with insights gained from the 2024 exploration program, and the updated mineral resource model to plan the next phase of drilling."