Wallbridge Announces Sale of Detour East Claims
Wallbridge Mining (OTCQB:WLBMF) has sold its Detour East property to Agnico Eagle Mines for $8 million in cash plus a 2% NSR royalty. The royalty includes a buyback option allowing Agnico Eagle to repurchase it for $4 million.
The transaction provides immediate liquidity for Wallbridge and aligns with its strategy to focus on core assets, particularly the Detour-Fenelon Gold Trend Property in Quebec's northern Abitibi region. The deal concludes an existing earn-in agreement between the two companies while maintaining Wallbridge's exposure to Detour East's future potential.
Wallbridge Mining (OTCQB:WLBMF) ha ceduto la proprietà Detour East ad Agnico Eagle Mines per 8 milioni di dollari in contanti, più una royalty NSR del 2%, comprensiva di un’opzione di riacquisto per 4 milioni di dollari. La transazione offre liquidità immediata a Wallbridge e si allinea con la strategia di concentrarsi sui beni principali, in particolare sul progetto Detour-Fenelon Gold Trend nella regione settentrionale dell’Abitibi, in Québec. L’accordo chiude un accordo di earn-in esistente tra le due società, mantenendo però l’esposizione di Wallbridge al potenziale futuro di Detour East.
Wallbridge Mining (OTCQB:WLBMF) vendió Detour East a Agnico Eagle Mines por 8 millones de dólares en efectivo más una regalía NSR del 2%, con una opción de recompra por 4 millones de dólares. La transacción proporciona liquidez inmediata para Wallbridge y se alinea con su estrategia de centrarse en activos clave, especialmente Detour-Fenelon Gold Trend en la región norte de Abitibi, Quebec. El acuerdo cierra un acuerdo de earn-in existente entre ambas compañías, manteniendo la exposición de Wallbridge al potencial futuro de Detour East.
Wallbridge Mining (OTCQB:WLBMF)은 Detour East 자산을 Agnico Eagle Mines에 현금 800만 달러와 2%의 NSR 로열티와 함께 매각했으며, 재매입 옵션은 400만 달러입니다. 이번 거래로 Wallbridge는 즉시 유동성을 확보하고, 퀘벡 주 북부 애비티비(Abitibi) 지역의 Detour-Fenelon Gold Trend 자산에 집중하겠다는 전략과 일치합니다. 이 거래는 양사 간 기존의 earn-in 합의를 종료하면서도 Detour East의 향후 잠재력에 대한 Wallbridge의 노출은 유지합니다.
Wallbridge Mining (OTCQB:WLBMF) a vendu Detour East à Agnico Eagle Mines pour 8 millions de dollars en espèces, plus une redevance NSR de 2%, avec une option de rachat à 4 millions de dollars. La transaction offre une liquidité immédiate à Wallbridge et s’aligne sur sa stratégie consistant à se concentrer sur les actifs clés, notamment le projet Detour-Fenelon Gold Trend dans le nord de la région Abitibi, au Québec. L’accord met fin à l’accord d’earn-in existant entre les deux sociétés tout en permettant à Wallbridge de conserver l’exposition au potentiel futur de Detour East.
Wallbridge Mining (OTCQB:WLBMF) hat Detour East an Agnico Eagle Mines für 8 Millionen US-Dollar in bar verkauft, zuzüglich einer 2% NSR-Tantieme und einer Rückkaufoption über 4 Millionen US-Dollar. Die Transaktion verschafft Wallbridge sofortige Liquidität und entspricht der Strategie, sich auf Kernvermögenswerte zu konzentrieren, insbesondere Detour-Fenelon Gold Trend in der nördlichen Abitibi-Region von Québec. Der Deal beendet eine bestehende Earn-in-Vereinbarung zwischen den beiden Unternehmen, während Wallbridges Exposure auf das zukünftige Potenzial von Detour East erhalten bleibt.
Wallbridge Mining (OTCQB:WLBMF) باع Detour East إلى Agnico Eagle Mines مقابل 8 ملايين دولار أمريكي نقداً، بالإضافة إلى امتياز NSR بنسبة 2% وخيار إعادة شراء بقيمة 4 ملايين دولار. توفر الصفقة سيولة فورية لـ Wallbridge وتتوافق مع استراتيجيتها للتركيز على الأصول الأساسية، ولا سيما مشروع Detour-Fenelon Gold Trend في شمال منطقة أبتيبي في كيبيك. تنهي الصفقة اتفاق Earn-in الحالي بين الشركتين مع الحفاظ على تعرض Wallbridge لإمكانات Detour East المستقبلية.
Wallbridge Mining (OTCQB:WLBMF) 已将 Detour East 资产出售给 Agnico Eagle Mines，现金金额为 800万美元，外加 2% 的 NSR 特许权和一个价值 400万美元 的回购选项。此次交易为 Wallbridge 提供即时流动性，并符合其聚焦核心资产的战略，特别是魁北克省北部 Abitibi 区的 Detour-Fenelon 金矿带项目。交易结束了双方之间现有的 Earn-in 协议，同时保留 Wallbridge 对 Detour East 的未来潜力敞口。
- Immediate cash injection of $8 million strengthens financial position
- 2% NSR royalty maintains upside exposure to Detour East
- Strategic focus on core assets Fenelon and Martiniere
- Eliminates costs associated with property maintenance and exploration
- Loss of direct ownership in Detour East property
- Potential value limitation if Agnico exercises $4 million royalty buyback option
TORONTO, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that it has sold mineral claims comprising the Detour East property to Agnico Eagle Mines Limited (“Agnico Eagle”) for cash consideration of
“The sale of Detour East to Agnico strengthens our financial position and provides Wallbridge additional flexibility as we continue to advance our Detour-Fenelon Gold Trend Property,” commented Brian W. Penny, CEO. “The
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen M.Sc., P.Geo. (OGQ AS-10796; PGO 3069), Senior Exploration Consultant for Wallbridge.
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 km2 that extends approximately 82 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 greenfields stage gold 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
This news release 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 of this news release.
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 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 herein includes, but is not limited to, statements regarding the benefits of the sale of Detour East and our ability to advance the Company’s Detour-Fenelon Gold Trend Property. Forward-looking information is not, and cannot be, a guarantee of future results or events.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.
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.
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