TORONTO, Oct. 29, 2018 /CNW/ - Wallbridge Mining Company
Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") today announced that Rene Galipeau
has stepped down as a director of the Company due to personal reasons.
"Rene is an exceptional person who has served on the Wallbridge board of directors since 2006," said Alar Soever, Chairman of
Wallbridge board of directors. "Over this time, Rene has made many contributions to the success and growth of the company,
drawing on a wealth of experience gained over a long and successful business career. His in depth financial knowledge as
chair of our Audit Committee will be missed. Warren Holmes has been appointed interim chair of the
Audit Committee, until a permanent replacement can be found. On behalf of the board of directors, the management team and our
shareholders, I thank Rene and wish him and his family all the best."
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 developing its 100%-owned high-grade Fenelon Gold property in
Quebec with ongoing exploration and a bulk sample in 2018. Wallbridge is also pursuing other
additional advanced-stage projects which would add to the Company's near-term project pipeline. 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 exploration for copper and gold in Jamaica and British Columbia through its 11.3% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources
Limited, a Wallbridge spin-out of its BC assets).
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.
SOURCE Wallbridge Mining Company Limited
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