Wallbridge Advances Fenelon to Pre-Feasibility with C$56 Million from Agnico Eagle and Waratah

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 Strategic investments will be made at a price of C$0.092 per common share, representing a premium of 15% to the Company’s 20-day volume-weighted average price on the Toronto Stock Exchange. The net proceeds of the offering, along with the Company’s existing financial resources, is expected to fully fund completion of a pre-feasibility study on the Fenelon project.

Agnico Eagle and Waratah will each have, or exercise control or direction over, a 19.9% partially-diluted position in the Company (including the common shares and warrants that Agnico Eagle already owns). The Company intends to seek shareholder approval for a name change to “Sunday Lake Gold” and a 20:1 share consolidation. Further information regarding such matters will be available in due course.

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 investor will be entitled to certain rights, provided that they each maintain certain ownership thresholds in the Company, including but not limited to: participation rights, top-up rights and the right to appoint at least one member to the Company’s Board of Directors.

Agnico Eagle will also have the ability to participate in a technical committee to provide recommendations and advice to the Company on technical matters. Closing is subject to customary conditions for a transaction of this nature, including the approval of the Toronto Stock Exchange. The Company intends to call a special meeting of shareholders in Q3 of 2026 in order to authorize a 20:1 share consolidation and a name change to “Sunday Lake Gold”.

A circular containing further information regarding such matters will be made available in due course. The Company intends to complete the fully-funded 2026 exploration program at Martiniere, Casault, and Grasset, which is already in progress, but will thereafter dedicate the vast majority of its efforts and capital on Fenelon. Advisors and Counsel BMO Capital Markets acted as financial advisor and Stikeman Elliott LLP acted as legal advisor to the Company.

Davies Ward Phillips & Vineberg LLP acted as legal advisor to Agnico Eagle and McMillan LLP acted as legal advisor to Waratah. About Wallbridge Mining Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec’s Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 598 square kilometres that extends approximately 82 kilometres along the Detour-Fenelon gold trend.

The land position is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous greenfield gold projects. For further information please visit the Company’s website at https://wallbridgemining.com/ or contact: Wallbridge Mining Company Limited Cautionary Note Regarding Forward-Looking Information The information in this document may contain 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 of this document.

All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.” FLI in this document may include, but is not limited to: the closing of the investments, statements regarding the use of proceeds of the investments, the 20:1 share consolidation and name change, the intention to complete the 2026 exploration program, the advancement of a pre-feasibility study for Fenelon and the unlocking of significant value for shareholders. FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI.

Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.

Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Company’s mineral projects; the accuracy of key assumptions, parameters or methods used to estimate MREs and PEAs; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca .

Cautionary Notes to United States Investors Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the " SEC "). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies.

As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.