Wallbridge Mining Completes Updated Positive Preliminary Economic Assessment of Fenelon Gold Project

Core Viewpoint - Wallbridge Mining Company Limited has released an updated positive Preliminary Economic Assessment (PEA) for its 100%-owned Fenelon gold project, indicating strong project economics and a viable path to development under favorable conditions [2][6][12]. PEA Highlights - The PEA indicates an average annual gold production of 107,000 ounces over a 16-year mine life, with a peak production of 127,000 ounces in the first five years [9][18]. - The after-tax Internal Rate of Return (IRR) is projected at 21%, with an after-tax Net Present Value (NPV) of $706 million based on a base case gold price of US$2,200 per ounce [9][12]. - Initial capital expenditures are estimated at $579 million, with sustaining capital expenditures of$449 million [9][20]. Financial Analysis - The project is expected to generate cumulative free cash flow of $1,367 million, averaging$120 million annually over the mine life [12]. - Total cash costs are estimated at US$851 per ounce, with all-in sustaining costs (AISC) at US$1,046 per ounce [27]. - The PEA is sensitive to gold price fluctuations, with a potential after-tax NPV of $1,381 million and an IRR of 34$3,000 per ounce [14][15]. Mineral Resource Estimate - The updated mineral resource estimates for the Fenelon and Martiniere deposits indicate a total of 19,790 thousand tonnes at an average grade of 3.30 g/t for indicated resources, and 18,899 thousand tonnes at an average grade of 3.35 g/t for inferred resources [30][33]. Mining and Processing - The mine will operate at a production rate of 3,000 tonnes per day, extracting a total of 16.6 million tonnes of mineralized material at an average grade of 3.34 g/t [37]. - The processing plant is designed to treat 3,000 tonnes per day, incorporating a Semi-Autogenous Ball Mill Crusher circuit and a leaching circuit for gold recovery [46][47]. Project Infrastructure - The project is located approximately 75 km from Matagami, accessible via a forestry road, and includes existing facilities that will be upgraded during construction [49][50]. - Infrastructure development will include a new process plant complex, paste plant, and various support facilities [51][52]. Environmental and Permitting - The project is subject to environmental assessment procedures under Quebec regulations, with no major environmental issues identified to date [64][66]. - A closure and rehabilitation plan is being prepared, with preliminary costs estimated at $11.5 million [68]. Stakeholder Engagement - Wallbridge is actively engaging with local First Nations and stakeholders to ensure community involvement and support for the project [69][70].