Wallbridge Announces Changes to Board of Directors

Rhea-AI Summary

Wallbridge Mining Company (TSX: WM, OTCQB: WLBMF) announced changes to its Board of Directors on April 10, 2025. Tony Makuch is stepping down from his position as Director and Chairperson of the Board, with Janet Wilkinson, a current independent director, appointed as the new Chairperson effective April 9, 2025.

Makuch, who joined the Board in 2019, cited the need to focus his attention on Discovery Silver as the reason for his departure. Wilkinson, as Wallbridge's longest-tenured director, brings deep company knowledge and extensive Board experience to her new leadership role.

Positive

• Smooth leadership transition with immediate appointment of experienced internal candidate
• New Chairperson brings extensive board experience and deep company knowledge

Negative

• Loss of experienced board chair who served since 2019
• Chairperson's departure to focus on another company could signal competing priorities

TORONTO, April 10, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) (“Wallbridge” or the “Company”) announces that Tony Makuch is stepping down as a Director and Chairperson of the Board of Wallbridge. Janet Wilkinson, who currently serves as an independent director, has been appointed Chairperson of the Board, effective April 9, 2025.

“On behalf of the Board, I take this opportunity to express our deep appreciation to Tony for having served as a dedicated Chairperson and member of various Board committees since joining the Board in 2019,” commented Danielle Giovenazzo, Director and Chairperson of the Technical and HSE Committee. “We are pleased to appoint Janet Wilkinson as Wallbridge’s new Chairperson. As Wallbridge’s longest-tenured director, Janet has a deep knowledge of the Company and extensive Board experience. We are confident she will add tremendous value to this important leadership position,” concluded Ms. Giovenazzo.

“I have enjoyed working with the Wallbridge management team and Board however, at this time my commitment and full attention needs to be dedicated to Discovery Silver,” commented Mr. Makuch. “I look forward to following the progress at Fenelon and am confident in the Company’s projects and Wallbridge’s future success.”

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 830 km² that extends approximately 97 km along the Detour-Fenelon gold trend. The property is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous other gold exploration projects.

For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:

Brian Penny, CPA, CMA CEO Email: bpenny@wallbridgemining.com M: +1 416 716 8346

Tania Barreto, CPIR Director Investor Relations Email: tbarreto@wallbridgemining.com M: +1 289 819 3012

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 Company’s exploration plans; the future prospects of Wallbridge; statements regarding the results of the Fenelon preliminary economic assessment (“PEA”); future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the mineral resource estimates (“MRE”) at the Fenelon and Martiniere properties (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.

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 Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; and 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.

FAQ

Who is the new Chairperson of Wallbridge Mining (WLBMF) as of April 2025?

Janet Wilkinson, previously an independent director and the company's longest-tenured board member, was appointed as the new Chairperson effective April 9, 2025.

Why did Tony Makuch step down from Wallbridge Mining's (WLBMF) board?

Tony Makuch stepped down to dedicate his full attention and commitment to Discovery Silver.

When did Tony Makuch join Wallbridge Mining's (WLBMF) board?

Tony Makuch joined Wallbridge Mining's board in 2019.

What experience does Janet Wilkinson bring to her new role as WLBMF Chairperson?

As Wallbridge's longest-tenured director, Janet Wilkinson brings deep knowledge of the company and extensive Board experience to the Chairperson position.