Slide 1: Growing Gold Resources in Quebec's Abitibi
GROWING GOLD RESOURCES IN QUEBEC’S ABITIBI Corporate Presentation & Fenelon Gold Project 2025 PEA Results DEUTSCHE GOLDMESSE, May 16-17, 2025 TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF wallbridgemining.com
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation contains forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections, and interpretations as at the date
Slide 3: QP Statement and Non-IFRS Financial Measures
QP - Statement All scientific and technical data related to the 2025 PEA contained in this document has been reviewed and approved by Mr. Marc R. Beauvais, P.Eng, of InnovExplo, who was responsible for compiling the PEA technical report. By virtue of his education, membership in a recognized profess
Slide 4: The Abitibi Greenstone Belt
THE ABITIBI GREENSTONE BELT Comparing Northern and Southern Abitibi Abitibi Martiniere Gold Project Gold Deposits Towns 346 Koz Indicated Fenelon Gold Project Interpreted Structures 387 Koz Inferred 1.75 Moz Indicated Northern and Claim Outlines Wallbridge Mining Detour Lake Mine 1.65 Moz Inferred C
Slide 5: District Scale – Detour-Fenelon Gold Trend
DISTRICT SCALE – DETOUR-FENELON GOLD TREND Multi-Million Ounce Gold Resources AEM: 2024 Production 671,950 oz gold MULTI-MILLION OUNCE DEPOSIT MARTINIERE GOLD Wallbridge 2025 Mineral Resource Estimate GROWTH POTENTIAL 346 Koz Indicated 387 Koz Inferred FENELON GOLD 2 SIGNIFICANT GOLD DEPOSITS Wallbr
Slide 6: Supportive Shareholders
SUPPORTIVE SHAREHOLDERS SHARE STRUCTURE – AS OF MARCH 27, 2025 SHAREHOLDER DISTRIBUTION 52-Week Trading Range $0.055—$0.115 0.8 9.9% Agnico Eagle 15.1% Shares Outstanding – Basic 1,099.3M Eric Sprott William Day 68.9% Construction Shares Outstanding - Fully-diluted** 1,152.6M 5.3% Retail & Other Man
Slide 7: Our Team
OUR TEAM Board BRIAN PENNY JANET WILKINSON BRIAN CHRISTIE DANIELLE GIOVENAZZO MICHAEL PESNER JEFFERY SNOW CEO Director, Chairperson Director Director Director Director Management BRIAN PENNY MARY MONTGOMERY MARK PETERSEN TANIA BARRETO CAROL DUFFIELD SEAN STOKES CEO CFO Geological Consultant Director
Slide 8: Environmental, Social, and Governance (ESG)
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) Continual Improvement Social Economic Health, Safety, Cultural Heritage Environment Governance Responsibility Contributions & Wellbeing & Diversity ▪ Local sourcing from ▪ Local sourcing from ▪ Local sourcing from ▪ Prioritizing EHS ▪ Developed cultural Gu
Slide 9: Major Milestones
MAJOR MILESTONES From Discovery to PEA N2022 – Nickel Divestment 2025 - PEA (Fenelon) ▪ Returned capital to ▪ 3,000 tpd Q1 2019 – Major Discovery shareholders ▪ After Tax NPV of $706 ▪ Maintained 19.9% million (5%) Area 51 ownership in ▪ 107,000 Au oz annually &Tabasco/Cayenne Archer (now ▪ 127,
Slide 10: Fenelon Gold Project Preliminary Economic Assessment Results
FENELON GOLD PROJECT Preliminary Economic Assessment Results March 27, 2025 TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF wallbridgemining.com
Slide 11: PEA Highlights – 16 Year Life of Mine
PEA HIGHLIGHTS – 16 YEAR LIFE OF MINE All results reported in Canadian dollars unless otherwise indicated. ANNUAL ANNUAL FREE PRODUCTION CASH FLOW INITIAL CAPITAL SUSTAINING CAPITAL3 107,000 $120 $579 $449 Ounces Million Million Million AFTER-TAX AFTER-TAX INTERNAL TOTAL CASH COST 1,2 AISC 2,3 NPV
Slide 12: Fenelon PEA Approach
FENELON PEA APPROACH First principles approach, realistic costs First Principles: new project starting with a clean slate Stope Optimization: Iterative process to develop a large UG operation according to MRE, rock mechanics and projected stope productivity Trade-Off Studies: material handling, tai
Slide 13: Fenelon PEA - Project Phases
FENELON PEA - PROJECT PHASES 2 years pre-production, 16 years production PHASE YEARS ACTIVITIES Infrastructure construction: ▪ Power line, camp expansion ▪ Mine site, mill plant, paste plant, tailing management site Pre-Production Pre-Production Year 1-2 ▪ Water treatment UG Development: ▪ Dewaterin
Slide 14: Fenelon PEA Surface Infrastructure - Powerline
FENELON PEA Surface infrastructure - Powerline Operations Mine Camp Site Site Camp Site Access Road TSX: WM | OTCQB: WLBMF 14
Slide 15: Fenelon PEA Surface Infrastructure – Mine Site and Camp
FENELON PEA Surface infrastructure – Mine site and Camp TSX: WM | OTCQB: WLBMF 15
Slide 16: Metallurgy & Processing, a Simple Flowsheet
FENELON PEA Metallurgy & processing, a simple flowsheet METALLURGY Metallurgical Testing: ▪ Testing representative Tabasco- Cayenne & Area 51 material Gravity Gold Recoveries: ▪ up to 66.5% for Tabasco/Cayenne ▪ up to 84.1% for Area 51 Cyanidation and flotation testing Overall Gold Recovery: 96% PRO
Slide 17: Annual Production
FENELON PEA Average production of 107,000oz annually (127,000 in first 5 years) Production Profile 150 4.50 Annual Ounces produced Grade 4.14 4.00 3.93 125 3.54 3.59 3.48 3.50 3.36 3.32 3.36 3.39 3.31 100 3.06 3.04 3.00 Annual production, Koz 2.98 2.91 2.67 2.59 2.50 Grade 75 141 139 134 2.00 121 12
Slide 18: Strong Free Cash Flow Generation Over 16-Year Mine Life
FENELON PEA Strong free cash flow generation over 16-year mine life Average annual after-tax cash flow of $120 million Annual After Tax Cashflow ($Million) 206 143 148 149 128 129 130 115 119 118 107 104 101 90 63 66 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 -198 -381 Year TSX: WM | OTCQB: WLBMF
Slide 19: PEA Sensitivity Analysis
PEA SENSITIVITY ANALYSIS Double digit IRR across gold price scenarios Gold Price FX NPV ($M) IRR Payback (Years) Post-Tax NPV 5% Sensitivity 1800 (-18%) 1.35 353 13% 5.7 $1,400 1900 (-14%) 1.35 443 15% 5.0 $1,200 2000 (-9%) 1.35 532 17% 4.6 $1,000 2100 (-5%) 1.35 619 19% 4.3 $800 2200 1.35 706 21% 4
Slide 20: PEA Study Team
FENELON PEA-STUDY TEAM An assembly of expertise CONSULTING FIRMS AREA OF RESPONSIBILITY TEAM LEAD MB Consulting ▪ Mineral Resources Estimate ▪ Mauro Bassotti, P. Geo ▪ Mine design and scheduling, mine capital, and operating costs; G&A cost estimates and financial analysis InnovExplo Inc. / Norda Ste
Slide 21: A Platform to Grow
A Hub to Unlock District-Scale Opportunity Potential for future synergies with nearby Martiniere project, new discoveries on Wallbridge's extensive Detour-Fenelon land package. Delivering Value to Shareholders FENELON PEA After-tax NPV5% of $706 million and substantial free cash flow generation over
Slide 22: Martiniere Gold Project
MARTINIERE GOLD PROJECT 2025 EXPLORATION FOCUS 15,000 m step-out exploration drilling • Strike and down-plunge extensions to Dragonfly, Horsefly and Martiniere North • Focused on defining broader geologic extensions to Martiniere gold system FIRST SET OF 2025 DRILL RESULTS TO BE REPORTED MAY 2025 2
Slide 23: Fenelon: A Platform to Grow
Fenelon: A Platform to Grow Positive PEA Published March 2025, 16 Year Mine Life WALLBRIDGE Growing Gold Resources Fenelon 2025 PEA: After-tax NPV5% of $706 Million at US$2,200 gold Martiniere: 15,000 metre drilling program in 2025 A Platform for Growth in the Abitibi Strong Technical Team Integrate
Slide 24: Thank You
TSX: WM OTCQX: WLBMF THANK YOU Brian Penny, CEO @WallbridgeMining E: bpenny@wallbridgemining.com @WallbridgeWM Tania Barreto, Director, Investor Relations E: tbarreto@wallbridgemining.com wallbridgemining.com 24