Wallbridge Mining Company Limited - Xstrata Nickel JV - Parkin Property

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(98.5% Wallbridge, 1.5% Xstrata Nickel royalty interest)

Parkin Long Section 3D
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As part of the restructuring of the 4X Joint Venture, Wallbridge acquired Xstrata Nickel's 36% minority interest in the Parkin property.

The Parkin property covers a 2.5 kilometre strikelength of the Whistle-Parkin Offset Dyke and is located about 3 kilometres north of the Whistle Embayment situated along the North Range of the SIC.The Whistle Embayment and Whistle-Parkin Offset Dyke are highly prospective as they are known to host mineralization at:

CVRD Inco's Whistle deposit, which was mined out in 1999 and produced from a resource of 6 million tonnes grade 0.9% Ni and 0.3% Cu,
FNX's Podolsky Mine,which is slated for production in 2007 and has Indicated Resources of 3.24 million tonnes grading 0.3% Ni, 3.37% Cu, 1.62 g/t Pt, 1.49 g/t Pd and 0.64 g/t Au and Inferred Resources of 4.86 million tonnes grading 0.15% Ni, 1.16% Cu, 0.49 g/t Pt, 0.54 g/t Pd and 0.22 g/t Au,
The Milnet Mine now owned by Wallbridge, which produced approximately 157,130 at a grade of 1.49% Ni, 1.54% Cu, 2.26 g/t Pt and 2.98 g/t Pd from 1952--1954,
Wallbridge's Parkin resource, which has seen historical exploration since 1934 and 22,447 metres of resource drilling in 121 holes by Wallbridge between 1999 and 2001.

Mineralization occurs along a 750 metre strike-length and ranges from massive copper-nickel sulphides, disseminations and fracture fillings, and fine stockworks.The average metal ratios reflect those expected of Offset Dyke deposits with copper slightly exceeding nickel and the mineralization is enriched in PGEs as reported for the mined out Milnet deposit located about half a kilometre to the north.

An estimate of the mineral resources on the Parkin Offset property to NI 43-101 standards was prepared in 2002 for Wallbridge by Alar Soever, P.Geo., of Watts, Griffis and McOuat, Consulting Geologists and Engineers, and reported Indicated Resources of 264,000 tonnes at a grade of 0.70% Cu, 0.65% Ni, 0.62 g Pt/t, 0.80 g Pd/t and 0.23 g Au/t and Inferred Resources of 87,000 tonnes at a grade of 0.65% Cu, 0.42% Ni, 1.17 g Pt/t, 1.07 g Pd/t and 0.55 g Au/t.