Slide 1: Growing Gold Resources in Quebec's Abitibi
GROWING GOLD RESOURCES IN QUEBEC’S ABITIBI Corporate Update December 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
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 346 Koz Indicated 1 387 Koz Inferred 1 1.75 Moz Indicated 1 Northern and 1.65 Moz Inferred 1 Southern Abitibi ▪ Similar geology ▪ World-class potential demonstrated ▪ Less exploration maturity due to: ▪ Less accessible in the past ▪
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 1 GROWTH POTENTIAL 346 Koz Indicated 387 Koz Inferred FENELON GOLD 2 SIGNIFICANT GOLD DEPOSITS Wall
Slide 6: Supportive Shareholders
SUPPORTIVE SHAREHOLDERS SHARE STRUCTURE – AS AT OCT 31, 2025 SHAREHOLDER DISTRIBUTION 52-Week Trading Range $0.045—$0.14 0.7% 9.5% Agnico Eagle 13.5% Shares Outstanding – Basic 1,220.1M Eric Sprott William Day 71.5% Construction 4.8% Shares Outstanding - Fully-diluted** 1,393.7M Retail & Other Manag
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 EVANS-DUFFIELD SEAN STOKES CEO CFO Senior Geological Consul
Slide 8: 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 ▪ Current ownership million (5%) Area 51 in Archer (now ▪ 107,000 Au oz annually &Tabasco/Cayenne NorthX Nickel)
Slide 9: 2025 Mineral Resource Statement
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property INDICATED INFERRED Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces DEPOSIT (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) FENELON OP @ > 0.45 g/t Au 3,121 2.50 251 2,313 2.53 188 UG @ > 1.45 g/t Au 11,966 3.91 1,503 12
Slide 10: 2025 Mineral Resource Notes
2025 MINERAL RESOURCE NOTES Notes to accompany the Detour-Fenelon Gold Trend Property 2025 Mineral Resource Statement and Mineral Resource Estimates for the Fenelon and Martiniere deposits: 1. The effective date of the 2025 MREs is March 20, 2025. 2. The 2025 MREs follow CIM Definition Standards (20
Slide 11: 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 11
Slide 12: PEA Highlights – 16 Year Life of Mine
PEA HIGHLIGHTS – 16 YEAR LIFE OF MINE All results reported in Canadian dollars unless otherwise indicated, assumed gold price of US$2,200/oz gold price. ANNUAL ANNUAL FREE PRODUCTION CASH FLOW INITIAL CAPITAL SUSTAINING CAPITAL3 107,000 $120 $579 $449 Ounces Million Million Million AFTER-TAX AFTER-
Slide 13: PEA Sensitivity Analysis
PEA SENSITIVITY ANALYSIS Double digit IRR across gold price scenarios Gold Price FX NPV ($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 14: 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 15: 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 16: Fenelon PEA – Surface infrastructure - Powerline
FENELON PEA Surface infrastructure - Powerline Operations Mine Camp Site Site Camp Site Access Road TSX: WM | OTCQB: WLBMF 16
Slide 17: Fenelon PEA – Surface infrastructure – Mine site and Camp
FENELON PEA Surface infrastructure – Mine site and Camp TSX: WM | OTCQB: WLBMF 17
Slide 18: Fenelon PEA – Metallurgy & Processing
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 19: Fenelon PEA – Production Profile
FENELON PEA Average production of 107,000 oz 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 1
Slide 20: Fenelon PEA – Free Cash Flow
FENELON PEA Strong free cash flow generation over 16-year mine life Average annual after-tax cash flow of $120 million Base case of US$2,200/oz gold price Annual After Tax Cashflow ($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 -1
Slide 21: Fenelon PEA – 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 22: Martiniere Gold Project
MARTINIERE GOLD PROJECT 2025 EXPLORATION FOCUS 17,411 metres completed • Focused on exploring potential for Martiniere gold system to host a larger gold resource • Targeted extensions to Dragonfly, Horsefly, Bug Lake and Martiniere North along the Bug Lake Deformation Corridor • Significantly expand
Slide 23: Coming Up in 2026
COMING UP IN 2026 Further Exploration at Martiniere, Advancing Fenelon Toward a Future PFS Wallbridge plans to drill ~25,000 metres in 2026 across the Martiniere, Fenelon, Casault, and Grasset projects, which represents an increase of approximately 30% of drilling over 2025. Building on the success
Slide 24: Coming Up in 2026 – Marketing Activities
COMING UP IN 2026 Ramping Up Marketing Activities to Increase Investor Visibility Q1 2026 Vancouver Resource Investment Conference, Vancouver, Canada January 25-26, 2026 BMO Global Metals and Mining Conference, Hollywood, US February 23-26, 2026 PDAC Convention, Toronto, Canada March 1-4, 2026 John
Slide 25: A Platform for Growth in the Abitibi
Fenelon: Long-term Platform for Growth Positive PEA Published March 2025, 16 Year Mine Life WALLBRIDGE Martiniere: Near-term Growth Potential Systematically expanding mineralized gold footprint A Platform for Growth in the Abitibi Strong Technical Team Diverse team with broad range of industry knowl
Slide 26: 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 26