Wallbridge Mining Co. Ltd. · TSX:WM
Wallbridge Mining — Gold Forum Americas (September 2023)
24 slides from Wallbridge Mining's conference presentation, September 2023
Slide 1: Growing Gold Resources in Quebec's Abitibi
TSX: WM OTCQX: WLBMF Growing Gold Resources in Quebec's Abitibi September 2023 wallbridgemining.com
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information The information in this document 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 a
Slide 3: Cautionary Notes and Definitions Regarding PEA
Cautionary Notes and Definitions Regarding PEA On June 26, 2023, the Company announced positive results from the PEA completed on Fenelon. The 2023 MRE formed the foundation for the PEA which assessed the potential for a predominantly underground bulk mining operation at Fenelon. The Company caution
Slide 4: Abitibi Greenstone Belt
Abitibi Greenstone Belt North vs. South Northern vs. Southern Abitibi Similar geology World-Class potential demonstrated (40 Moz Detour Lake) Less exploration maturity due to: ― Less accessible in the past ― Farther from urban centers ― No surface outcrops Note: Above numbers are total known e
Slide 5: District Scale – Detour-Fenelon Gold Trend
District Scale – Detour-Fenelon Gold Trend Multi-Million Ounce Potential Detour Lake Mine (Agnico Eagle Mines) 40 Moz Au Endowment GROWTH Wallbridge 2023 POTENTIAL Mineral Resource Estimate 2 GOLD Fenelon Gold DEPOSITS 2.37 Moz Au Indicated 1.72 Moz Au Inferred TOP Martiniere Gold JURISDICTION 0.68
Slide 6: Project Timeline
Project Timeline From Discovery to Economic Study MRE at Fenelon & Martiniere MRE at Fenelon & Martiniere NOV 2021 JAN 2023 Maiden MRE at Feneleon Updated MRE at Fenelon 2.13 Moz Indicated 2.37 Moz Indicated (84% grade increase) Major Discovery 1.47 Moz Inferred 1.72 Moz Inferred (85% grade increase
Slide 7: ESG
ESG Continuous Improvement ― Local sourcing from Abitibi to every extent possible ― 2019 gold award in health & safety from the PDAC ― Local hiring from Abitibi and surrounding First ― Prioritizing EHS system evolution Nation communities ― Stringent COVID-19 measures and testing protocols Social ― S
Slide 8: Supportive Shareholder Base
Supportive Shareholder Base 2.20% 6.20% Share Structure – August 29, 2023 17.70% Retail & Other 52-Week Trading Range $0.12-$0.24 Management Agnico Eagle Eric Sprott Shares Outstanding - Basic 934.9M William Day Construction 9.90% 62.70% Institutional Shares Outstanding - Fully-diluted* 968.9M 1.30%
Slide 9: Detour-Fenelon Gold Trend Mineral Resources
Detour-Fenelon Gold Trend Mineral Resources TSX: WM | OTCQX: WLBMF 9
Slide 10: Focus on a Sustainable Growth Strategy
Focus on a Sustainable Growth Strategy Detour-Fenelon Gold Trend Detour Cut-off Grade Grade Troy Ounces Category Metric Tonnes (t) Detour-Fenelon Gold Trend Fenelon (Au g/t) (Au g/t) (oz Au) Total Contained Ounces Gold Trend in Pit > 0.45 727,400 4.46 104,400 6,000,000 5,000,000 Indicated UG > 1.50
Slide 11: 2023 Mineral Resource Update
2023 Mineral Resource Update 2023 Open pit shells 2023 Open pit shells 2023 MRE Main Gabbro Northwest ― Smaller open pits 90-150 m deep 250 m depth ― Predominately underground resource ― 58% of resource in Indicated Southeast category 2023 Underground Significant additions Jeremie Mineral Resources
Slide 12: 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 $594 Million TOTAL CASH COST 1,2 AISC 2,3 AFTER-TAX NPV 1,2 5% AFTER-TAX
Slide 13: Annual Production, Koz
FENELON PEA Average annual gold production of 212,000 ounces per year Production Profile 300 3.50 Annual Ounces produced Grade 3.04 3.07 3.04 2.85 2.87 3.00 250 2.71 2.70 2.64 2.55 2.60 2.67 237 2.38 242 240 226 2.29 2.50 200 225 213 215 Annual Production, Koz 201 205 199 188 180 2.00 Grade (g/t) 15
Slide 14: Fenelon PEA: Metallurgy & processing
FENELON PEA Metallurgy & processing, a simple flowsheet Metallurgy Metallurgical Testing: ― Testing representative Tabasco- Cayenne & Area 51 material Gravity Gold Recoveries ― up to 66.5% for Tabasco/Cayenne ― up to 84.3% for Area 51 Cyanidation and flotation testing Overall Gold Recovery:
Slide 15: Fenelon PEA: Efficient capital allocation
FENELON PEA Efficient capital allocation Initial Capital Expenditures Sustaining Capital Expenditures Cost Element Initial Capital ($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 16: Fenelon PEA: Strong free cash flow generation
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 16
Slide 17: 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 $1,750 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% 78
Slide 18: Fenelon PEA Comparables
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 19: Detour-Fenelon Gold Trend Mineral Resources
Detour-Fenelon Gold Trend Mineral Resources TSX: WM | OTCQX: WLBMF 19
Slide 20: 2023 Mineral Resource Update: Martiniere Gold Project
2023 Mineral Resource Update Martiniere Gold Project 2023 Martiniere Gold Property Tonnes Au g/t Ounces Indicated 7,757,700 2.14 534,100 Open Pit Inferred 2,652,400 1.83 156,400 Indicated 1,285,100 3.64 150,300 Underground Inferred 3,542,500 4.18 475,900 Indicated 9,042,800 2.35 684,300 Total Prepar
Slide 21: 2023 Outlook
2023 Outlook Expanding current resources while we continue to unlock the regional exploration value 2023 exploration program focusing on: ― Expansion of existing resources at Fenelon & Martiniere (large step-out drilling) ― Exploration for discovery of new deposits 2023 Work Program Planned Forecast
Slide 22: 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 23: 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 23
Slide 24: Our Team
Our Team Diverse and complementary backgrounds BRIAN CHRISTIE ALAR SOEVER MICHAEL PESNER DANIELLE GIOVENAZZO MARZ KORD BRIAN W. PENNY ATTILA PÉNTEK Director Director Director Director President & CEO Chief Financial Officer Vice President Exploration PARVIZ FARSANGI JANET WILKINSON JEFFERY SNOW MARZ
Wallbridge Mining Company — Gold Forum Americas (September 2023) on 6ix