Wallbridge Exploration Drilling Continues to Expand Mineralized Footprint of Martiniere Deposit Intercepting Multiple High Grade Gold Structures

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TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) ("Wallbridge” or the "Company”) today announced the results for the first eleven holes of its 2025 exploration drilling program at its 100% owned Martiniere gold project ("Martiniere”). The results include multiple high-grade gold intercepts along extensions to four of the zones targeted along the Bug Lake ("BL”) deformation corridor, and at a fifth newly identified target located approximately 300 metres north of the BL deformation corridor.

Highlights:

"We continue to be very pleased with the positive results of our exploration program at Martiniere,” commented Brian W. Penny, Wallbridge CEO. "Building on the success of our 2024 exploration program, our strategy for 2025 is to assess the potential to expand the Martiniere gold resource through systematic step-out drilling along known high-grade structures along the Bug Lake deformation corridor and drilling of new targets identified within the broader deposit area. The initial results for Phase 1 reflect the success of this strategy. Our team is eager to receive the remaining Phase 1 assay results which will be incorporated into our plans for Phase 2 scheduled to commence in mid-July,” concluded Mr. Penny.

Martiniere 2025 Drilling Program

The Company's 2025 Martiniere drilling program commenced earlier this year in mid-March (see Wallbridge news release dated March 14, 2025). During 2025, the Company plans to complete a total of 10,000 to 15,000 metres in two phases of drilling at Martiniere. During Phase 1, completed on May 14, the Company drilled 16 holes plus two extensions to holes drilled in 2024 for a total of 7,225 metres. The results presented in this news release are for the first nine holes plus the two-hole extensions. Once all pending assays have been received, the Company plans to report the remaining results of the Phase 1 program in late June or early July. Drilling at Martiniere is scheduled to resume in mid-July with the commencement of the Phase 2 program.

At Dragonfly, high-grade gold intercepts in drill holes MR-25-111, MR-25-112, MR-25-121, and an extension to hole MR-24-110 add another 300 metres of strike length to the northwest, providing further support for geologic continuity between the Dragonfly and the Bug Lake North zones. Likewise, high-grade gold mineralization intercepted in hole MR-25-117 extends the Dragonfly zone another 250 metres to the southeast, where mineralization remains open along strike. Assay results are pending for holes MR-25-122 and MR-25-123 drilled to test down-dip projections of Dragonfly gold mineralization.

At Horsefly, a deeper extension to hole MR-24-100 has intercepted additional high-grade gold mineralization peripheral to the currently defined mineral resource. Drilling has also intercepted significant gold grades in hole MR-25-114 drilled approximately 200 metres to the east of the Horsefly resource. Assay results are pending for Horsefly holes MR-25-124 and MR-25-125 drilled to test for additional gold mineralization between the Horsefly resource and the regional scale Lac-Du-Doigt fault to the north.

Drilling farther outboard of the central Martiniere resource area has also returned positive results. Drill hole MR-25-115 intercepted 3.0 metres of high-grade gold mineralization grading 7.37 g/t Au in an area north of the Lac du Doigt fault where no exploration drilling has been done previously. Assay results are pending for holes MR-25-120 and MR-25-126, drilled as widely spaced step-out holes to follow up on the positive results returned from MR-25-115. Step-out drilling along the southeasterly trending Bug Lake South zone intercepted a narrow interval of mineralization grading 2.35 g/t Au over 1.0m in hole MR-25-118. Assays are pending for hole MR-25-119, drilled as a down-plunge step-out of the Bug Lake South underground resource.

With these latest results, gold mineralization along the Bug Lake corridor has been delineated over an approximate 2,000m by 800m area and to an average vertical depth of 350-400m below surface. Deeper intercepts from hole MR-25-121 reported here and historic drill hole MDE-17-189 indicate the Martiniere gold system remains open at depth to at least 500m below surface. Gold mineralization at Martiniere occurs in close association with pyritic silica-sericite alteration and quartz-carbonate veining along discrete fault and shear structures in a host sequence of basaltic volcanic and cross-cutting felsic porphyry intrusive rocks.

Martiniere Drill Hole Location Map

For more information including a drill hole location map, representative long-section and tables with drill hole location information and composited assays for complete drill holes please refer to the links below.

Martiniere Plan View - 2025 Drilling

Martiniere Gold Project: 2024 Phase 2 Long-Section

Martiniere Gold Project: Q3 2024 Drill Assay Summary and Drill Hole Location Information