Wallbridge Mining Co. Ltd. · TSX:WM
Wallbridge Mining — Investor Presentation (April 2025)
27 slides from Wallbridge Mining's investor presentation, Apr 2, 2025
Slide 1: Growing Gold Resources in Quebec's Abitibi
Growing Gold Resources in Quebec’s Abitibi Corporate Presentation & Fenelon Gold Project 2025 PEA Results March 31 – April 2, 2025 TSX: WM TSX: WM OTCQB: | OTCQB: WLBMF 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
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: Abitibi Greenstone Belt
Abitibi Greenstone Belt North vs. South Abitibi Martiniere Gold Project Gold Deposits 346 Koz Indicated Towns Interpreted Structures 387 Koz Inferred Fenelon Gold Project 1.75 Moz Indicated Northern vs. Claim Outlines Wallbridge Mining Detour Lake Mine 1.65 Moz Inferred Chibougamau Southern Abitibi
Slide 5: Supportive Shareholders
Supportive Shareholders Share Structure – As of March 27, 2025 Shareholder Distribution 0.8 52-Week Trading Range $0.055—$0.115 9.9% Agnico Eagle 15.1% Eric Sprott Shares Outstanding – Basic 1,099.3M William Day 68.9% Construction Shares Outstanding - Fully-diluted** 1,152.6M 5.3% Retail & Other Man
Slide 6: 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 CAROL DUFFIELD GUILLAUME LACHAPELLE SEAN STO
Slide 7: 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 8: Major Milestones
Major Milestones From Discovery to PEA Major Discovery Divest All Nickel Assets PEA (Fenelon) NOV 2022 MARCH 2025 Q1 2019 ― Area 51 &Tabasco/Cayenne Zones ― Returned capital to shareholders ― 3,000 tpd ― Maintained 19.9% ownership in ― After Tax NPV of $706 million (5%) Archer (now NorthX Nickel) ―
Slide 9: Fenelon Gold Project Preliminary Economic Assessment Results
FENELON GOLD PROJECT Preliminary Economic Assessment Results March 27, 2025 TSX: WM TSX: WM OTCQB: | OTCQB: WLBMF WLBMF wallbridgemining.com
Slide 10: PEA Highlights – 16 Year Life of Mine
PEA HIGHLIGHTS – 16 YEAR LIFE OF MINE All results reported in Canadian dollars unless otherwise indicated. ANNUAL GOLD ANNUAL FREE CASH INITIAL CAPITAL SUSTAINING CAPITAL3 PRODUCTION FLOW 107,000 $120 Million $579 Million $449 Million Ounces TOTAL CASH COST 1,2 AISC 2,3 AFTER-TAX NPV 1,2 5% AFTER-TA
Slide 11: 2025 Mineral Resource Statement
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property Wallbridge Detour – Fenelon Gold Trend Property 2025 Mineral Resource Statement by Deposit INDICATED INFERRED DEPOSIT Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) FENEL
Slide 12: PEA Approach
FENELON PEA-APPROACH First principles approach, realistic costs Looking North PEA Approach First principles: new project starting with a clean slate Stope optimization: Iterative process to develop a large UG operation according to MRE, rock mechanics and projected stope productivity Trade-off
Slide 13: Fenelon PEA - Project Phases
FENELON PEA- PROJECT PHASES 2 years pre-production, 16 years production PHASE YEARS ACTIVITIES Pre-production Pre-production Year 1 & 2 Infrastructure construction: ₋ Power line, camp expansion ₋ Mine site, mill plant, paste plant, tailing management site ₋ Water treatment UG Development: ₋ Dewate
Slide 14: Fenelon PEA: Surface infrastructure - Powerline
FENELON PEA Surface infrastructure - Powerline Operations Mine Camp Site Site Camp Site Access Road 14 TSX: WM | OTCQB: WLBMF
Slide 15: Fenelon PEA: Surface infrastructure – Mine site and Camp
FENELON PEA Surface infrastructure – Mine site and Camp 15 TSX: WM | OTCQB: WLBMF
Slide 16: Metallurgy & processing, a simple flowsheet
FENELON PEA Metallurgy & processing, a simple flowsheet Metallurgy • Metallurgical Testing: Testing representative Tabasco- Cayenne & Area 51 material • Gravity Gold Recoveries – up to 66.5% for Tabasco/Cayenne – up to 84.1% for Area 51 • Cyanidation and flotation testing • Overall Gold Recovery: 96
Slide 17: Capital allocation
FENELON PEA Capital allocation Initial Capital Expenditures Sustaining Capital Expenditures Cost Element Initial Capital ($M)1,2 Cost Element Sustaining Capital ($M)1,2 Mill 217 Mining Equipment 145 Paste Plant 43 Development 161 Tailings and Water Treatment 22 Tailings & Water Treatment 64 Capitali
Slide 18: Annual production, Koz
FENELON PEA Average annual gold production of 107,000 ounces per year Production Profile 150 4.50 Annual Ounces produced Grade 4.14 3.93 4.00 125 3.54 3.59 3.48 3.50 3.36 3.31 3.32 3.36 3.39 100 3.06 3.04 3.00 Annual production, Koz 2.98 2.91 2.67 2.59 2.50 Grade 75 141 139 134 2.00 121 122 117 111
Slide 19: 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 19 TSX: WM | OTCQB: W
Slide 20: PEA Sensitivity Analysis
PEA SENSITIVITY ANALYSIS Double digit IRR across gold price scenarios Post-Tax NPV 5% Sensitivity $1,400 Gold Price FX NPV ($M) IRR Payback (Years) 1800 (-18%) 1.35 353 13% 5.7 $1,200 1900 (-14%) 1.35 443 15% 5.0 $1,000 2000 (-9%) 1.35 532 17% 4.6 $800 2100 (-5%) 1.35 619 19% 4.3 $600 2200 1.35 706
Slide 21: PEA Project Parameters Compared to 2023 PEA
PEA Project Parameters Compared to 2023 PEA Summary of Project Economics 2023 2025 Summary of Project Economics 2023 2025 Long term gold price (US$) 1750 2200 Total Capital Expenditures Exchange rate (CAD$:US$) 1.30 : 1.00 1.35 : 1.00 Initial capital 1 (CAD$M) 645 579 Mining Parameters Sustaining ca
Slide 22: PEA Study Team
FENELON PEA-STUDY TEAM An assembly of expertise Consulting Firms Area of Responsibility 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 Stelo - Marc
Slide 23: Fenelon PEA: 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 After-tax NPV5% of $706 million and substantial free cash flow generation over Fenelon PEA
Slide 24: 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 Martiniere Martiniere extensions to Martiniere gold system North North 2024 Outcomes MR-25-1
Slide 25: Martiniere Project
Martiniere Project Bug Lake Deformation Longitudinal Section Bug Lake Horsefly Dragonfly North Area Area OPEN Martiniere North MR-25-113 MR-25-112 MR-25-111 25 TSX: WM | OTCQB: WLBMF
Slide 26: 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 A Platform for Growth in the Abitibi Strong Technical Team Integrated exploration backed by a skilled team Advancing m
Slide 27: Thank you
TSX: WM OTCQX: WLBMF Thank you Contact Brian Penny, CEO Tania Barreto, Director, Investor Relations Information: E: bpenny@wallbridgemining.com E: tbarreto@wallbridgemining.com @WallbridgeWM @WallbridgeMining wallbridgemining.com 27
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