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Woodridge Resources Ltd. Provides Update on Lauder Property, Adopt Stock Option Plan and Grant of Stock Options

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Vancouver, British Columbia--(Newsfile Corp. - January 6, 2022) - Woodbridge Resources Ltd. (the "Company") is pleased to report that its 2021 Mobile Metal Ion ("MMI") geochemical survey has been completed on its wholly owned Lauder copper-gold project ("Project") located in the Nicola Mining District 40 kilometers northeast of Merritt, British Columbia ("Property").

The 2021 exploration program on the Project consisted of infill and reconnaissance MMI soil sampling on 100 meter by 250 meter spacings. Pre‐determined sampling sites were located by GPS, with no physical grid established on the ground. A total of 47 geochemical samples were collected as part of this program. Copper values from the program ranged from a low of 420 parts per billion ("ppb") copper to a high of 4,210 ppb copper in the west-central portion of the Property. Silver values ranged from a low of 6 ppb to a high of 101 ppb with the high value occurring along with a cluster of anomalous trace element values in the eastern portion of the Property, indicating the possibility of a localized precious metals source. The elevated silver values remain open to the north and to the northeast.

MMI geochemistry is a proven advanced geochemical exploration technique especially well-suited to detect buried mineral deposits. The MMI™ method is a proprietary analytical method owned by SGS Laboratories, which is based on a weak leach to detect anomalous concentrations of metals that have migrated from buried mineralization into the surface environment.

The Company has also adopted a stock option plan and granted a total of 525,000 stock options to the directors and officers of the Company at the exercise price of $0.05 each expiring January 6, 2027.

Qualified Person

The technical content of this news release has been reviewed and approved by Richard Graham, P.Geo., who is a qualified person as defined by National Instrument 43-101.

For Further Information:

Scott McLean
Chief Executive Officer
Tel. (604) 488-5418

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109278