Toronto, Ontario--(Newsfile Corp. - May 4, 2017) - Wallbridge Mining Company Limited (TSX: WM) (FSE: WC7) (the
"Wallbridge") today announced that it has filed an early warning report (the "Report") announcing that its interest
in Carube Copper Corp. (TSXV: CUC) ("Carube") has decreased in excess of 2% as a result of equity issuances by
Carube.
As of the date hereof, Wallbridge owns 11,694,732 common shares ("Common Shares") of Carube (the Common Shares are listed
for trading on the TSX Venture Exchange, and 1,925,000 Common Share purchase warrants ("Warrant") of Carube. As a result of certain
equity issuances by Carube, one of which the Acquirer participated in by purchasing 800,000 units of Carube (the "Units") at
a price of $0.08 per Unit, Wallbridge's ownership of Common Shares decreased, on a partially-diluted basis, from approximately 20%
to approximately 14.6%.
In future, Wallbridge may from time to time acquire or dispose ownership of, or control of direction over, securities of Carube
for investment 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 gold Fenelon Gold property in Quebec with exploration
underway and a bulk sample and production decision targeted for 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 active partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in
Sudbury, Ontario. Currently, Wallbridge is completing a 20,000 metre fully partner-funded drilling program on its high-grade Parkin
nickel-copper-PGM project.
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 13% ownership
of Carube Copper Corp. ("Carube Copper") (TSXV: CUC) formerly Miocene Resources Limited).
For further details relating to the Acquisition, please see the Report, a copy of which is available on Carube's profile on
SEDAR at www.sedar.com.
For more information, please contact:
Sean Stokes
Corporate Secretary, Wallbridge Mining Company Limited
Tel: 416-712-7418
sstokes@wallbridgemining.com
This press release may contain forward-looking statements (including "forward-looking information" within the
meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995) relating to, among other things, the operations of Wallbridge and the environment in
which it operates. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Wallbridge has relied on a number of assumptions and estimates in making such
forward-looking statements, including, without limitation, the costs associated with the development and operation of its
properties. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and
reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual
results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from
those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result
in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue
to be refined, the ability to execute planned exploration and future drilling programs, the need for additional funding to continue
exploration and development efforts, changes in general economic, market and business conditions, and those other risks set forth
in Wallbridge's most recent annual information form under the heading "Risk Factors" and in its other public filings.
Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown
risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Wallbridge. Although
Wallbridge has attempted to identify important risks and factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended. Consequently, undue reliance should not be placed on such forward-looking
statements. In addition, all forward-looking statements in this press release are given as of the date hereof.
Wallbridge disclaims any intention or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The
forward-looking statements contained herein are expressly qualified by this disclaimer.
