Wallbridge Mining Company closes $2.57M 2nd tranche of private placement

Wallbridge Mining Company Limited

News Release

Wallbridge Announces Closing of Second Tranche of Private Placement

Toronto, Ontario — November 20, 2017 — Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the “Company” or “Wallbridge”) is pleased to announce that it has closed the second tranche (“Second Tranche”) of its previously announced non-brokered private placement (the “Offering”) through the issuance of 17,486,558 units of the Company (each a “Unit”) for gross proceeds of $1,573,790 and 10,000,000 flow through common shares (each an “FT Share”) for gross proceeds of $1,000,000. Aggregate gross proceeds under the second tranche totaled $2,573,790 and aggregate gross proceeds under the first and second tranche totaled $3,774,127.

Under the terms of the Offering the FT Shares were issued at a price of $0.10 and the Units were issued at a price of $0.09. Each Unit consists of one common share of the Company (a “Common Share”) and a one-half Common Share purchase warrant. Each whole Warrant (a “Warrant”) will entitle the holder to acquire one additional Common Share (a “Warrant Share”) for a period of twenty-four (24) months from the date of issuance at an exercise price of $0.15 per Warrant Share. The Company expects to close the final tranche of the Offering later this month.

“We are making tremendous progress at our Fenelon Gold Property with excellent drilling results, a contract in place with a toll mill facility and contracts being finalized with mining contractors. With this financing and the expected final tranche closing this month, we are now financed to start the planned underground bulk sample upon receipt of the permits. ” said President and CEO Marz Kord.

In connection with the closing of the second tranche certain eligible persons were paid an aggregate cash commission of $94,827 and issued 825,254 finders’ warrants (“Finder Warrant”). Each Finder Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Finder Share”) at an exercise price of $0.10 per Finder Share for a period of 24 months following the date of issuance.

All securities issued are subject to a statutory hold period of four months in accordance with applicable securities legislation.

The gross proceeds of the Offering will be used for underground bulk sample exploration of high-quality targets around the known deposit used in the pre-feasibility study of Wallbridge’s 100%-owned Fenelon Gold Property in Quebec and for general working capital purposes.

About Wallbridge Mining

Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.

Wallbridge is currently preparing to develop its 100%-owned high-grade Fenelon Gold Property in Quebec with ongoing exploration and a bulk sample targeted to start in 2017. Wallbridge is also in discussions regarding several other advanced stage projects which could become the Company’s next mines. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015. Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario, with a focus on its high-grade Parkin project.

Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 12.7% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited).

For Further Information

Please visit the Company’s website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited

Joshua Bailey, P.Geo., M.Sc., MBA
Vice President Exploration
Tel: (705) 682-9297 ext. 240
Email: jbailey@wallbridgemining.com

David Ellis
Investor Relations
Tel: (416) 704-0937
Email: dellis@wallbridgemining.com