Wallbridge Mining Co. Ltd. · TSX:WM
Wallbridge Mining — 121 Mining Investment, New York 2024
46 slides from Wallbridge Mining's conference presentation, Oct 21, 2024
Slide 1: Growing Gold Resources in Quebec's Abitibi
Growing Gold Resources in Quebec’s Abitibi 121 Mining Investment, New York October 21-22, 2024 TSX: WM OTCQB: WLBMF TSX: WM OTCQB: WLBMF wallbridgemining.com
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretation
Slide 3: QP - Statement
QP - Statement The scientific and technical information of the Company and of the Fenelon, Martinière and Grasset properties included in this presentation have been reviewed and approved by Francois Chabot, Eng., Technical Studies Manager of Wallbridge and a Qualified Person as defined by NI 43-101.
Slide 4: Supportive Shareholders
Supportive Shareholders Share Structure – As of August 8, 2024 Shareholder Distribution 0.50% 52-Week Trading Range $0.06—$0.16 9.9% Agnico Eagle 16.3% Eric Sprott Shares Outstanding – Basic 1,016.2M William Day 67.6% Construction Shares Outstanding - Fully-diluted** 1,058.8M 5.7% Retail & Other Man
Slide 5: Our Team
Our Team Board ANTHONY MAKUCH BRIAN PENNY BRIAN CHRISTIE DANIELLE GIOVENAZZO JEFFERY SNOW MICHAEL PESNER JANET WILKINSON Director, Chairman CEO Director Director Director Director Director Management BRIAN PENNY MARY MONTGOMERY MARK PETERSEN TANIA BARRETO FRANCOIS CHABOT CAROL DUFFIELD SEAN STOKES C
Slide 6: Abitibi Greenstone Belt
Abitibi Greenstone Belt North vs. South Abitibi Martiniere Gold Project Northern vs. Southern Gold Deposits 2023 Mineral Resource Estimate Towns 0.68 Moz Au Indicated Fenelon Gold Project Abitibi Interpreted Structures 0.63 Moz Au Inferred 2023 Mineral Resource Estimate Claim Outlines 2.37 Moz Au In
Slide 7: District Scale – Detour-Fenelon Gold Trend
District Scale – Detour-Fenelon Gold Trend Multi-Million Ounce Gold Resources MULTI-MILLION Detour Lake mine OUNCE DEPOSIT (Agnico Eagle Mines) Canada’s largest gold mine 2023 Production 677,446 oz gold GROWTH POTENTIAL Wallbridge 2023 Mineral Resource Estimate Fenelon Gold 2 SIGNIFICANT GOLD DEPOSI
Slide 8: Major Milestones
Major Milestones From Discovery to PEA Acquires Fenelon Project Acquires Balmoral Res. Divest All Nickel Assets PEA (Fenelon) MAY 2016 MAY 2020 NOV 2022 JUNE 2023 ― 10.5km2 Property ― >900 Km 2 land package ― Returned capital to shareholders ― 7,000 tpd ― Fenelon Deposit Martiniere Deposit ― Maintai
Slide 9: 2023 Year in Review
2023 Year in Review Unlocking Value on Strategic Land Package ✓ Updated MRE for Detour-Fenelon Gold Trend Property (Fenelon and Martiniere) ✓ Completed positive PEA on Fenelon Gold Project ✓ Drilled ~49,000 m on the Detour- Fenelon Gold Trend Property ✓ Discovered new greenfield gold mineralization
Slide 10: 2024 Program
2024 Program Advance Martiniere and Fenelon Toward Combined PEA for 2026 Test regional greenfields exploration targets for discovery 2024 Work Program Drilling (m) Budget (M) Martiniere – resource and exploration drilling (includes 13,000 $8.9 $900,000 of technical and environmental studies) Fenelon
Slide 11: 2024 Objectives
2024 Objectives H1 2024 ✓ Complete Fenelon Ph1 Resource Delineation & Infill Drilling ✓ Complete Martiniere Ph1 Drilling: Metallurgical/Geotechnical/ Delineation ✓ Initiate Martiniere Metallurgical & Geotechnical Studies ✓ Initiate Martiniere Environmental Baseline Studies H2 2024 ▪ Initiate Martini
Slide 12: ESG
ESG Continual Improvement - Local sourcing from Abitibi to every extent possible - Prioritizing EHS system evolution - Local hiring from Abitibi and surrounding First Nation - Health, Safety, Environmental and Community Policies communities in place Social - Supporting business startup Health, Safet
Slide 13: Environment, Permitting
Environment, Permitting Strong Partnership with First Nations Stakeholder Engagement ▪ Over 130 engagement activities with stakeholders ▪ Regular meetings with First Nation communities of Washaw Sibi, Waskaganish and Abitibiwinni (Pikogan) ▪ Pre-development agreement in place with Cree communities o
Slide 14: Positive PEA at Fenelon
Positive PEA at Fenelon A Great Starting Point ANNUAL GOLD ANNUAL FREE INITIAL CAPITAL 2 SUSTAINING CAPITAL 2 PRODUCTION CASHFLOW 2,4 212,000 $157 $645 $594 Ounces Million Million Million TOTAL CASH COSTS 1,2,4 AISC 2,3,4 AFTER-TAX NPV 5%4 AFTER-TAX INTERNAL RATE OF RETURN $749 US$/oz $924 US$/oz $7
Slide 15: Fenelon PEA Approach
Fenelon PEA Approach First Principles Approach, Realistic Costs Longitudinal section looking North PEA Approach ▪ First principles: new project starting with a clean slate ▪ Stope optimization: Iterative process to develop a large UG operation based on January 2023 MRE, rock mechanics and projected
Slide 16: Fenelon PEA
Fenelon PEA Efficient Capital Allocation Initial Capital Expenditures Sustaining Capital Expenditures Cost Element Initial Capital ($M)1,2 Cost Element Initial Capital ($M)1,2 Mill 220 Production Shaft 143 Paste Plant 46 Mining Equipment 140 Tailings and Water Treatment 36 Development 158 Capitalize
Slide 17: PEA Sensitivity Analysis
PEA Sensitivity Analysis Double-Digit IRR Across Gold Price Scenarios Gold Price (US $/oz) FX NPV ($M) IRR (%) Payback Years $1,600 1.30 512 14 6.2 $1,750 1.30 721 18 5.4 $1,900 1.30 923 21 4.6 $1,950 1.34 1070 24 4.2 NPV Sensitivity – Operating and Capital Costs Operating Costs $M Capital Costs $M
Slide 18: Detour-Fenelon Gold Trend
Detour-Fenelon Gold Trend Under-explored Greenstone Belt Hosting Canada's Largest Producing Gold Mine Martiniere Gold Detour Lake Mine 2023 Mineral Resource Estimate Fenelon Gold 0.68 Moz Au Indicated 2023 Mineral Resource Estimate AEM, Dec 31, 2023 Detour East 0.63 Moz Au Inferred 2.37 Moz Au Indic
Slide 19: Fenelon Gold Project
Fenelon Gold Project Quality Of Gold Ounces 2023 Open pit shells Plan view 2023 Open 2023 MRE 250 m depth Main Gabbro pit shells ▪ Predominately underground resource Northwest ▪ 58% of resource in Indicated category 2024 Plans 2023 ▪ Resource delineation and infill drilling to Underground Mineral Re
Slide 20: Fenelon Project vs Other Abitibi Gold Deposits
Fenelon Project vs Other Abitibi Gold Deposits Gold Ounces Per Vertical Metre *~29,000 Tonnes per vertical m For details of the 2023 MRE, please refer to Amended and Restated NI 43-101 Technical Report filed on December 29, 2023, on SEDAR+. TSX: WM OTCQB: WLBMF 20
Slide 21: Fenelon Gold PEA
Fenelon Gold PEA Access To Infrastructure Electric Line 120 Kv (25.3km) TSX: WM OTCQB: WLBMF 21
Slide 22: Fenelon Project Comparables
Fenelon Project Comparables Similar Abitibi Gold Mining Operations GOLDEX YOUNG-DAVIDSON WASAMAC FENELON Company Agnico Eagle Mines Alamos Agnico Eagle Mines Wallbridge Stage Production/2008 Production/2012 Feasibility/2021 PEA/2023 Depth (metres) 800-1,500 210-1,500 0-845 0-1,040 Mineral Resource E
Slide 23: Martiniere Gold Project
Martiniere Gold Project Advancing Our Second Million-Ounce Gold Deposit N 200 200 0 0 -200 -200 -400 -400 2023 MRE Inferred Martiniere West Gabbro Indicated Open Pit Outline ▪ Since the acquisition, expanded known resources by 16% in the 2023 Indicated and 1,100% in the inferred category Martiniere
Slide 24: Fenelon: a Hub to Unlock Value for Shareholders
Fenelon: a Hub to Unlock Value for Shareholders Investigating synergies between Fenelon and Martiniere plus strong greenfields discovery potential Wallbridge Growing Gold Resources Fenelon 2023 PEA: After-tax NPV5% of $721 Million at US$1750 gold A Platform for Growth in the Abitibi Strong Technical
Slide 25: Thank you
TSX: WM OTCQX: WLBMF Thank you Contact Brian Penny, CEO Victoria Vargas, Capital Markets Advisor Information: E: bpenny@wallbridgemining.com E: vvargas@wallbridgemining.com @WallbridgeWM @WallbridgeMining wallbridgemining.com 25
Slide 26: Appendix
Appendix Solid team in place for future growth along the Detour-Fenelon Gold Trend 2 TSX: WM OTCQB: WLBMF 26 26 6
Slide 27: Fenelon PEA – Project Phases
Fenelon PEA – Project Phases 2 Years Pre-Production, 12 Years Production PHASE YEARS ACTIVITIES Pre-production Pre-production Year 1 & 2 Infrastructure construction: ― Power line, camp expansion ― Mine site, mill plant, paste plant, tailing management site ― Water treatment UG Development: ― Dewater
Slide 28: Fenelon PEA
Fenelon PEA Average Annual Gold Production Of 212,000 Ounces Per Year Total Production of 2.6 Moz over 12-year mine life Production Profile 300 3.50 Annual Ounces produced Grade 3.04 3.07 3.04 2.85 2.87 3.00 250 2.71 2.70 2.64 2.55 2.60 2.67 237 2.38 242 240 226 2.29 2.50 200 225 213 Annual Producti
Slide 29: Fenelon PEA
Fenelon PEA Strong Free Cash Flow Generation Over 12-Year Mine Life Average annual after-tax cash flow of $157 million After-Tax Cash Flow ($Million) 228 218 196 202 199 182 161 148 140 139 100 94 32 -231 -414 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 Year For cautionary notes and definitions related to t
Slide 30: Fenelon PEA Opportunities
Fenelon PEA Opportunities Open In All Directions And Still Growing Opportunity Potential Benefits to: Increase the resource grade and ounces and convert more inferred to measured and indicated Additional infill drilling at Fenelon categories Additional exploration drilling at Fenelon Increase the mi
Slide 31: Fenelon First Half 2024 Exploration Advances
Fenelon First Half 2024 Exploration Advances Fenelon Resource Delineation & Infill Drilling Program Highlights ▪ 9 holes totaling 2,400 metres targeting Area 51 Enterprise, Contact and Tabasco zones ▪ Multiple high-grade gold intercepts along Area 51 Enterprize zone at depths ranging from 40 to 150
Slide 32: 2023 Exploration Advances
2023 Exploration Advances Two New Prospective Satellite Gold Targets Identified at Fenelon The Target 1 intersection, located in a newly-discovered Jeremie Diorite body, has now opened up a new area for future exploration and shows the excellent potential to significantly expand the known extent of
Slide 33: 2023 Exploration Advances
2023 Exploration Advances New Gold-Bearing Jeremie Diorite and Extensions of Known Zones At Fenelon TSX: WM OTCQB: WLBMF 33
Slide 34: Martiniere Q1-Q2 2024 Exploration Advances
Martiniere Q1-Q2 2024 Exploration Advances Martiniere Technical Studies | Metallurgical & Geotechnical Drilling Program Highlights ▪ 27 holes totaling 8,439 metres targeting Martiniere West, Central and North, Bug Lake zones ▪ Drilling provides representative coverage for metallurgical and geotechni
Slide 35: 2023 Exploration Drilling
2023 Exploration Drilling Martiniere Step-out Drilling TSX: WM OTCQB: WLBMF 35
Slide 36: Significant Untested Discovery Potential
Significant Untested Discovery Potential Detour – Fenelon Gold Trend: One of the Abitibi's least explored gold belts ▪ Host to Agnico Eagle's Detour Lake Gold Mine (2P @ 19.9 Moz + M&I @ 17.6 Moz @ Dec 31'23), Canada's largest producing gold mine ▪ Wallbridge controls 830 sq km consolidated mineral
Slide 37: Abitibi Greenstone Belt
Abitibi Greenstone Belt Overburden Thickness ▪ Discovered: 1994-1997 ▪ +5M oz Au known endowment on Quebec side (Wallbridge land package); 40 Moz at Detour Lake ▪ Very few outcrops ▪ Discovered: 1906-1911 ▪ Northwestern Abitibi covered with deep overburden, hindering ▪ +100M oz Au known endowment pa
Slide 38: Why Underground Bulk Mining?
Why Underground Bulk Mining? Open Main Gabbro Tabasco-Cayenne Zones Tabasco-Cayenne Jeremie Zones Diorite Area 51 Zones Jeremie 100 m Diorite Open Area 51 Zones 100 m Tabasco-Cayenne Zones Plan view, 600 m depth Area 51 Zones Plan view, 475 m depth ― Excellent along strike and down-dip continuity al
Slide 39: 2023 Mineral Resource Update
2023 Mineral Resource Update Fenelon Gold Project – Bulk Mineable Looking West Looking North Looking North Growth Growth Potential Potential Credit: Alamos Gold Corporate Presentation Fenelon Underground Alamos Gold’s Young Davidson ▪ 21.67M tonnes @3.40 g/t - 2.37M Oz Indicated* ▪ Mineral Resource
Slide 40: Fenelon PEA
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 84.3% for Area 51 ▪ Cyanidation and flotation testing ▪ Overall Gold Recovery:
Slide 41: Fenelon PEA-Study Team
Fenelon PEA-Study Team An Assembly of Expertise Consulting Firms Area of Responsibility Qualified Person ― Carl Pelletier, P.Geo., ― Vincent Nadeau-Benoit, P.Geo., InnovExplo Inc. ― Mineral Resources ― Simon Boudreau, P.Eng., ― Marc R, Beauvais, P.Eng. ― Mine design and scheduling, mine capital, and
Slide 42: 2023 Mineral Resource Estimate
2023 Mineral Resource Estimate Detour-Fenelon Gold Trend Detour Fenelon Gold Trend Category Cut-off Grade (Au g/t) Metric Tonnes (t) Grade (Au g/t) Troy Ounces (oz Au) in Pit > 0.45 727,400 4.46 104,400 Indicated UG > 1.50 20,931,700 3.37 2,265,200 21,659,100 3.40 2,369,600 Fenelon in Pit > 0.45 303
Slide 43: 2023 Mineral Resource Estimate
2023 Mineral Resource Estimate Economic Parameters 2023 2021 Parameters Unit Value Parameters Unit Value Gold Price US$/oz 1,600 Gold Price US$/oz 1,607 Exchange Rate CA$/US$ 1.3 Exchange Rate CA$/US$ 1.3 Fenelon Fenelon Metallurgic Recovery % 95.00 Metallurgic Recovery % 96.00 Mining Cost - Open Pi
Slide 44: 2023 Mineral Resource Estimate
2023 Mineral Resource Estimate Gold Price Sensitivity Analysis – Fenelon Fenelon (All Zones) Gold Price Cut-off Grade Grade Troy Ounces Cut-off Grade Grade Troy Ounces Tonnes (t) Tonnes (t) (US$/oz) (gt/Au) (g/t Au) (oz Au) (g/t Au) (g/t Au) (oz Au) Indicated Resources 1,920 In Pit > 0.35 817,500 4.
Slide 45: 2023 Mineral Resource Estimate
2023 Mineral Resource Estimate Gold Price Sensitivity Analysis – Martiniere MARTINIERE (All Zones) Gold Price Cut-off Grade Grade Troy Ounces Cut-off Grade Grade Troy Ounces Tonnes (t) Tonnes (t) (US$/oz) (gt/Au) (g/t Au) (oz Au) (g/t Au) (g/t Au) (oz Au) Indicated Resources UG (LH) > 2.00 UG 1,920
Slide 46: Our People
Our People Our #1 Asset TSX: WM OTCQB: WLBMF 46
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