Wallbridge Mining Company (WM) Corporate Presentation summary

Project overview and resource base

• Fenelon Gold Project PEA (March 2025) outlines a 16-year mine life with an after-tax NPV (5%) of $706 million and a 21% IRR at a US$2,200/oz gold price.

• Average annual gold production is projected at 107,000 oz, with 127,000 oz/year in the first five years.

• Initial capital expenditure is $579 million, with sustaining capital of $449 million.

• Total cash costs are estimated at US$851/oz and all-in sustaining costs at US$1,046/oz.

• The project leverages a district-scale land package in Quebec's Abitibi region, with significant growth potential.

Mineral resource estimates

• Fenelon: 1.75 Moz indicated and 1.65 Moz inferred gold resources; Martiniere: 346 Koz indicated and 387 Koz inferred.

• Combined open pit and underground resources total 2.1 Moz indicated and 2.04 Moz inferred.

• Resource estimates are based on NI 43-101 standards, with cut-off grades reflecting current cost and recovery assumptions.

• Metallurgical recoveries: 96% for Fenelon, 85% for Martiniere (Bug Lake style mineralization).

• 2025 MRE incorporates 26% more drill data for Martiniere compared to 2023.

Project design, operations, and economics

• Mining plan includes 2 years of pre-production and 16 years of production, with ramp-down in the final years.

• Processing uses a simple flowsheet: gravity, CIL, elution, and flotation for dry stacked tailings.

• Surface infrastructure includes a new 120kV powerline, camp, and tailings management facilities.

• Sensitivity analysis shows robust economics across gold price scenarios, with IRR remaining above 13% at lower prices.

• Free cash flow averages $120 million annually after tax.