Wallbridge Mining Company Limited announced that due to the large increase in size potential of its Fenelon Gold Property (“Fenelon”), demonstrated by the exploration success in 2020, the Company’s Board of Directors has approved a 2021 program of approximately 170,000 metres of drilling and 4,800 metres of underground exploration development (Phase one of a 10,000 metre two-year program). The program involves spending of approximately $79 million for 2021, which includes approximately $75 million on exploration and underground exploration development. The Company is fully-funded to carry out the planned program. The Company has paused the current permitting process for a small-scale gold operation in the Gabbro Zone. Instead, the Company intends to re-submit permit applications, supported by an updated project description and environmental and social impact assessment (“ESIA”), for a much larger and more appropriately sized operation following the delivery of a maiden resource and associated economic studies which will be completed as part of the 2021 program.