Wallbridge Provides Update, Evacuation Order at Fenelon Lifted

TORONTO, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) announces that the site evacuation order issued on July 1, 2026 by SOPFEU (Société de protection des forêts contre le feu) and Quebec’s Ministère des Ressources naturelles et des Forêts in response to wildfires in the region has been lifted, allowing the Company to begin a phased return to normal operations at its Fenelon Gold Project and across its Detour-Fenelon Gold Trend property.

Since mid-July the Fenelon project site has served as a base of operations for a SOPFEU crew ranging from 35 to 60 firefighters actively managing wildfires in the surrounding region. Thanks to their efforts and improving regional conditions, wildfire activity in the Fenelon area has subsided and is no longer considered a significant risk. None of the Fenelon operating facilities or camp were damaged by the wildfires. With conditions improving, the SOPFEU crew has recently demobilized from the site, allowing Wallbridge employees and contractors to begin returning to Fenelon.

Throughout the evacuation period, desktop and planning work continued offsite. Kitchen and maintenance personnel also returned to Fenelon to support the SOPFEU crew and ensure the Company’s camp, facilities and infrastructure continued to operate safely and effectively. Earlier this month, four Wallbridge employees returned to site to resume core logging and the preparation of sample shipments for assay analyses.

With the evacuation order now lifted and restrictions on helicopter access to the area removed, Company personnel and contractors have begun returning to site. Wallbridge expects drilling and other field exploration activities to resume by the end of August, marking a return to normal exploration operations at Fenelon.

“The health and safety of our employees and contractors remains our highest priority, and we are extremely grateful to the firefighters, SOPFEU and the Government of Québec for their tireless efforts to manage and control the wildfires in the region,” commented Brian Penny, Chief Executive Officer of Wallbridge. “We were pleased to be able to provide accommodations and support for the firefighters at the Fenelon camp and will continue to assist SOPFEU in any way we can.”

The evacuation and temporary suspension of drilling and field activities have shortened the Company’s summer exploration season. At the same time, Wallbridge is finalizing the work plan and proposed budget for a pre-feasibility study (“PFS”) targeted for completion in late 2027 or early 2028. In light of these developments, the Company has revised its drilling priorities for the remainder of 2026.

The revised plan will focus on continuing to ramp up drilling at Fenelon in preparation for a larger-scale infill drilling program supporting the PFS, while completing the previously planned exploration drilling programs at Casault and Grasset. As the Company increases its focus on advancing the Fenelon PFS, the second phase of drilling previously planned at Martiniere has been deferred beyond 2026.

Wallbridge expects to provide a further update on its exploration, drilling and PFS plans in the coming weeks.

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 greenfield gold projects.

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

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

Tania Barreto, CPIR Director, Investor Relations Email: tbarreto@wallbridgemining.com M: +1 416 289 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: statements regarding the return of personnel to the Fenelon site, the resumption of drilling and other exploration activities, and the expected delivery of the PFS.

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.