Wallbridge to Advance Fenelon to Pre-Feasibility Study with Strategic Investments from Agnico Eagle and Waratah for Approximately C$56 Million

About this update from Wallbridge Mining Co. Ltd.

TORONTO, May 20, 2026 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has entered into definitive agreements with Agnico Eagle Mines Limited (“Agnico Eagle”) and Waratah Capital Advisors Limited, on behalf of certain investment funds managed by it, (“Waratah”) pursuant to which each of Agnico Eagle and Waratah have agreed to acquire such number of common shares that will result in each holding a partially-diluted ownership position of, or control or direction over, approximately 19.9% in the Company, which will result in a capital injection of approximately C$56.0 million into the Company at closing. Brian Penny, Chief Executive Officer of Wallbridge commented: “We are delighted to announce these cornerstone investments from our long-time shareholder Agnico Eagle and by Waratah, who we welcome as a significant new shareholder in the Company. In our view, these investments underscore the quality and scale of our flagship asset, Fenelon, while providing the capital required to advance it through infill drilling and a pre-feasibility study, which we expect to deliver in late 2027 or early 2028. As part of this next chapter, we also intend to seek shareholder approval in due course to complete a 20:1 share consolidation and a renaming of the Company to Sunday Lake Gold. With this capital injection from our cornerstone investors, we will be well positioned to advance Fenelon and unlock significant value for all shareholders as we enter this important new phase in the Company’s history.” Key Highlights Additional Details Agnico Eagle has agreed to purchase 243,927,966 common shares of the Company for gross proceeds of approximately C$22.4 million, which together with Agnico Eagle’s existing ownership position of common shares and common share purchase warrants, will result in a partially-diluted ownership interest of 19.9% in the Company. Waratah, on behalf of certain investment funds managed by it, agreed to purchase 364,339,130 common shares of the Company for gross proceeds of approximately C$33.5 million, which will result in such funds having an aggregate pro forma ownership interest of 19.9% in the Company. In connection with the investments, at closing the Company will enter into an investor rights agreement with each of Agnico Eagle and Waratah, whereby each inve...

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