Wallbridge Mining Company (WM) Status Update summary

Exploration and drilling update

• Phase II drilling at Martinière has commenced, targeting lateral and deeper step-outs to define broader geologic limits and resource potential, with a 2025 goal of 12,000 to 15,000 metres drilled and results expected later this year.

• Phase I drilling delivered 7,225 meters across 18 holes, revealing high-grade gold over narrow widths and confirming mineralization continuity along the Bug Lake Corridor.

• Drilling targets high-grade gold extensions at Dragonfly, Horsefly, Martinière North, Martinière Northeast, and nearby satellite targets within 100–500 metres of the resource.

• Drilling strategy is results-driven, leveraging real-time geologic model updates and targeting both lateral and vertical extensions.

• Martinière Northeast shows lower grades but multiple structures; focus remains on Bug Lake Corridor for best results.

Project development and capital allocation

• Fenelon is advancing toward a pre-feasibility study, with analysis on required infill drilling and associated costs, conditional on financing.

• Capital allocation is balanced between advancing Fenelon and expanding Martinière, with flexibility to shift focus based on funding availability.

• Additional streams or royalties are not considered viable for financing; divestment of non-core properties and equity raises are under review.

• Québec’s exploration tax credits provide significant funding support, with a CAD 4.8 million refund expected this year and CAD 3–4 million anticipated for next year.

Regional and greenfields exploration initiatives

• Reconnaissance fieldwork launched to identify early-stage greenfields targets along the Detour-Fenelon gold trend.

• 2025 greenfields focus includes Casault, Doigt, Martinière, Fenelon, and Grasset claim blocks.

• The property position covers 830 km², extending 97 km along the Detour-Fenelon trend.