Slide 1: Fenelon Preliminary Economic Assessment
TSX: WM OTCQX: WLBMF Fenelon Preliminary Economic Assessment Growing Gold Resources in Quebec’s Abitibi June 27, 2023 wallbridgemining.com 1
Slide 2: Disclaimer: Cautionary Note Regarding Forward-Looking Information
Disclaimer 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 a
Slide 3: Disclaimer: Cautionary Note to United States Investors
Disclaimer Cautionary Note to United States Investors Wallbridge Mining prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this presentation are defined
Slide 4: Disclaimer: Notes Regarding Non-IFRS Financial Measures
Disclaimer Notes Regarding Non-IFRS Financial Measures Wallbridge has included certain non-IFRS financial measures in this presentation, such as initial capital expenditures, sustaining capital expenditures, and all in sustaining costs, which are not measures recognized under IFRS and do not have a
Slide 5: PEA Highlights
PEA HIGHLIGHTS A great starting point All results reported in Canadian dollars unless otherwise indicated ANNUAL GOLD ANNUAL FREE INITIAL CAPITAL3 SUSTAINING CAPITAL3 PRODUCTION CASHFLOW 212,000 $157 Ounces Million $645 Million $594 Million TOTAL CASH COST 1,2 AISC 2,3 AFTER-TAX NPV 1,2 5% AFTER-TAX
Slide 6: Fenelon PEA Study Team
FENELON PEA-STUDY TEAM An assembly of expertise Consulting Firms Area of Responsibility Qualified Person1 - Mineral Resources - Carl Pelletier, P.Geo., - Vincent Nadeau-Benoit, P.Geo., InnovExplo Inc. - Simon Boudreau, P.Eng., - Marc R, Beauvais, P.Eng. - Mine design and scheduling, mine capital, an
Slide 7: Fenelon PEA Approach
FENELON PEA-APPROACH First principles approach, realistic costs 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 studies: mate
Slide 8: Fenelon PEA Project Phases
FENELON PEA- PROJECT PHASES 2 years pre-production, 12.3 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: ₋ Dewa
Slide 9: Surface infrastructure - Powerline
FENELON PEA Surface infrastructure - Powerline TSX: WM | OTCQX: WLBF 9
Slide 10: Surface infrastructure - Camp
FENELON PEA Surface infrastructure - Camp TSX: WM | OTCQX: WLBF 10
Slide 11: Surface infrastructure - Minesite
FENELON PEA Surface infrastructure - Minesite TSX: WM | OTCQX: WLBF 11
Slide 12: 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 84.3% for Area 51 • Cyanidation and flotation testing • Overall Gold Recovery: 96
Slide 13: Average annual gold production of 212,000 ounces per year
FENELON PEA Average annual gold production of 212,000 ounces per year Production Profile 300 3.50 Annual Ounces produced Grade 3.04 3.07 3.04 3.00 250 2.87 2.85 2.67 2.71 2.70 237 2.60 242 240 2.64 2.55 226 2.50 200 225 2.38 213 215 2.29 Annual Production, Koz 201 205 199 188 180 2.00 Grade (g/t) 15
Slide 14: Efficient capital allocation
FENELON PEA Efficient capital allocation Initial Capital Expenditures Sustaining Capital Expenditures Cost Element Initial Capital ($M)1,2 Cost Element Sustaining Capital ($M)1,2 Mill 220 Production Shaft 143 Paste Plant 46 Mining Equipment 140 Tailings and Water Treatment 36 Development 158 Capital
Slide 15: Strong free cash flow generation over 12.3-year mine life
FENELON PEA Strong free cash flow generation over 12.3-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 TSX: WM | OTCQX: WLBF 15
Slide 16: PEA Sensitivity Analysis
PEA SENSITIVITY ANALYSIS Double digit IRR across gold price scenarios Gold Price FX NPV IRR Payback US $/oz $M % Years $1,600 1.30 512 14 6.2 $1750 1.30 721 18 5.4 $1,900 1.30 923 21 4.6 $1,950 – Spot 1.34 1,070 24 4.2 NPV NPV Operating Costs $M Capital Costs $M Base Case -10% 823 Base Case -10% 786
Slide 17: Comparables: Similar bulk mining operations in Abitibi
FENELON PEA COMPARABLES Similar bulk mining operations in Abitibi GOLDEX YOUNG-DAVIDSON WASAMAC FENELON 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 Estimate pre
Slide 18: Environment, Permitting: An exceptional approach with First Nations
FENELON PEA ENVIRONMENT, PERMITTING An exceptional approach with First Nations Stakeholder engagement: More than 130 communication activities with stakeholders Regular meetings with the First Nation communities of Washaw Sibi, Waskaganish and Abitibiwinni (Pikogan) Pre-development agreement in
Slide 19: Opportunities: Open in all directions and still growing
FENELON PEA OPPORTUNITIES Open in all directions and still growing Opportunity Potential Benefits Additional infill drilling at Fenelon Would likely increase the resource grade and ounces and convert more inferred to measured and indicated categories Additional exploration drilling at Fenelon Deposi
Slide 20: Fenelon PEA: A Platform to Grow
A Hub to Unlock District-Scale Opportunity Potential for substantial future synergies with nearby Martiniere project, new discoveries on Wallbridge's extensive Detour-Fenelon land package. Delivering Value to Shareholders After-tax NPV5% of $721 million and substantial free cash flow generation over
Slide 21: Focus on a Sustainable Growth Strategy
Focus on a Sustainable Growth Strategy Continuously improving Quebec, Canada Significant Gold Endowment Ranked #8 by Fraser Institute (2022) Property hosts the Fenelon & Martiniere gold deposits ― Sought after jurisdiction for mining and investment ― Combined resources of 3.05 ― Good access to labou
Slide 22: Thank you
TSX: WM OTCQX: WLBMF Thank you Contact Marz Kord, President & CEO Victoria Vargas, Capital Markets Advisor Information: E: mkord@wallbridgemining.com E: vvargas@wallbridgemining.com @WallbridgeWM @WallbridgeMining wallbridgemining.com 22