WallBridge Announces Initial 2017 Drill Results At Parkin

Wallbridge Mining Company Ltd.( TSX:WM, FWB:WC7) has provided an update on nickel, copper and platinum group metal (PGM) exploration as part of the continuing 20,000-metre partner-financed drilling program on the Parkin properties in Sudbury, Ont.

Highlights:

Drill hole WMP-205 identifies new Ni-Cu-PGM zone at Parkin, intersecting two mineralized intervals down-plunge of the Malbeuf zone: 1.90% nickel, 0.30% copper, and 0.70 g/t total precious metals (“TPM”, Pt+Pd+Au) over 0.53 metres from 757.04 metres down-hole, and 6.24 g/t TPM with anomalous nickel and copper over 1.74 metres from 764.12 metres down-hole;

Additional high-grade gold mineralization sampled from volcanic rocks adjacent to the Parkin Offset dyke, including:

Two new mineralized intervals in drill hole WMP-094 including 15.56 g/t gold over 1.20 metres from 46.45 metres down-hole and 3.02 g/t gold over 2.18 metres from 40.42 metres down-hole. This is in addition to previous sampling in WMP-094 which yielded 14.74 g/t gold over 0.67 metres from 139.83 metres down-hole; and 14.70 g/t gold over 0.84 metres from 1349.16 metres down-hole in drill hole WMP-205.

“The first part of this program is mostly directed below and down-plunge of the near surface zones with the objective of identifying new deposits with larger tonnage potential. Results to date have been encouraging with new mineralization intersected and off-hole conductive anomalies identified. Nearly all drill holes have intersected wide intervals of weakly mineralized inclusion quartz diorite which is indicative of a significant Ni-Cu-PGM mineral system at Parkin”, stated Joshua Bailey, Vice President Exploration of Wallbridge, “Our task is to find the traps where the sulfide in this large system has collected. We look forward to continuing drilling and testing the numerous targets on this large property, including new targets emerging from the geological and geophysical modelling that is underway”.

Wallbridge’s exploration on its large portfolio of Ni-Cu-PGM properties in Sudbury, Ontario, is currently focused on the fully-funded $3.96 million 2017 joint venture programs with partner Lonmin Plc (see Wallbridge Press Release dated October 13, 2016). These programs include approximately 20,000 metres drilling on the Parkin Properties. Since October, ten drill holes and one wedge-cut totaling 5,593 metres have been completed at Parkin.

Drill hole WMP-205 was a 450 metre step-out down-plunge to the north of the Malbeuf zone and identified a new zone intersecting two mineralized intervals, including:

1.90% nickel, 0.30% copper, and 0.70 g/t total precious metals (“TPM”, Pt+Pd+Au) over 0.53 metres from 757.04 metres down-hole, and 6.24 g/t TPM with anomalous nickel and copper over 1.74 metres from 764.12 metres down-hole.

Drill hole WMP-206 also cut down-plunge of the Malbeuf zone with subsequent borehole EM geophysics identifying an off-hole conductor (1200 S) measuring 40 by 15 metres to the north of the hole.

Significantly, 8 of the 11 drill holes completed since October have intersected wide intervals of weakly mineralized inclusion quartz diorite (“IQD”), which is the dominant host rock for Ni-Cu-PGMs at Parkin and in Offset dyke deposits in Sudbury, generally. These provide important constraint on deeper higher tonnage targets at depth that will be tested later in the year.

In February, Wallbridge completed a large loop ground EM geophysical survey, preliminary results of which have identified several conductive anomalies that warrant follow-up. Wallbridge is also completing a constrained magnetic inversion model with preliminary results constraining the extent of mafic and ultramafic intrusions on the property. These form structural traps for mineralization where they are intersected by the Offset dykes in Sudbury and this work has confirmed several targets at Parkin which are now prioritized for drilling.

The remaining drilling in 2017 at Parkin will continue to test the growth potential of the known zones as well as test for new and larger potential deposits along strike and at depth.

Plans and sections and other figures related to ongoing exploration at Parkin are available at: https://www.wallbridgemining.com/s/parkin-offset.asp

In addition to the Ni-Cu-PGM mineralization, Wallbridge continues to find high-grade gold mineralization associated with quartz-carbonate-sulfide veins cutting the Archean volcanic rocks adjacent to the Parkin Offset dyke. While not a focus, this gold mineralization is intriguing and work continues to understand its significance. To date, 20 drill intersections have returned between 0.92 and 44.00 g/t gold at Parkin (Table 2). Highlights from sampling this year include:

• Two new mineralized intervals in drill hole WMP-094 including 15.56 g/t gold over 1.20 metres from 46.45 metres down-hole and 3.02 g/t gold over 2.18 metres from 40.42 metres down-hole. This is in addition to previous sampling in WMP-094 which yielded 14.74 g/t gold over 0.67 metres from 139.83; and
• 14.70 g/t gold over 0.84 metres from 1349.16 metres down-hole in drill hole WMP-205.

Samples were prepared at ALS Chemex Ltd. laboratories in Sudbury and then shipped to their analytical facilities in Vancouver. Samples were analyzed for Au, Pt, and Pd by standard lead oxide collection fire assay fusion with an atomic emission spectrometry (ICP-AES) finish. Samples were analyzed for base metals, silver and trace elements using a four acid (HCIO4-HNO3-HF and HCI) near total digestion and a combination of ICP-MS and ICP-AES finish. Cu and Ni over-limits or samples submitted as ore grade were analyzed using HNO3-HClO4-HF-HCl acid digestion, HCl leach and ICP-AES (some conditions require an AA finish). Sulphur over-limits were analyzed using Total Sulphur by LECO.

The Qualified Person responsible for the technical content of this press release is Joshua Bailey, P.Geo., M.Sc., MBA, Vice President Exploration for Wallbridge Mining Company Limited. Mr. Bailey has prepared, supervised and approved the scientific and technical disclosures in this press release.

About Wallbridge Mining

Wallbridge Mining Company Ltd  is working to establish a portfolio of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.

Wallbridge is currently permitting its recently purchased high-grade gold Fenelon Mine project in Quebec and hopes to be able to make a production decision later in 2017. Wallbridge is also in discussions regarding several other advanced stage projects which could become the Company’s next production platforms. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015.

Wallbridge is also continuing active partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario. Currently, Wallbridge is completing 20,000 metre fully partner-funded drilling program on its Parkin project in Sudbury following-up wide high-grade intersections in 2016.

Wallbridge also has further exposure to active exploration for copper and gold in Jamaica and British Columbia through its 15.5% ownership of Carube Copper Corp. (“Carube Copper”) (CUC:TSX-V, formerly Miocene Resources Limited).

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