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Press Releases

January 08, 2004
Wallbridge Intersects High Grade Platinum-Palladium on Wisner Property

Toronto, Ontario - January 8, 2004 - Wallbridge Mining Company Limited (TSX: WM) is pleased to announce that initial drilling at the Broken Hammer zone has intersected several zones of high grade Platinum-Palladium mineralization. Highlights of the mineralization intersected to date include: 4.64 g/T TPM (platinum+palladium+gold) over 9.50 meters in hole WIS-007 and 3.12 g/T TPM over 4.60 meters in hole WIS-005.

The Broken Hammer zone is located in the north-central portion of the company's Wisner property on the North Range of the Sudbury Basin. The zone is a new discovery resulting from prospecting carried out this past fall on a 250 m long IP anomaly.

To date Wallbridge has completed four boreholes (WIS-005-WIS-008) at the Broken Hammer zone totalling 327 meters. In addition, one 176 meter hole was drilled at the South zone, approximately 1.5 kilometers to the southwest (see press release dated Sept. 30, 2003).

The table below shows precious metal contents of length weighted core intervals at the Broken Hammer zone. Base metal assay results are pending.

Broken Hammer zone - WIS-006 Assay Summary
  FROM TO LENGTH Au Pt Pd TPM
  (meters)  (meters)  (meters)  g/T g/T g/T g/T
  7.70 9.60 1.90 0.28 1.72 1.49 3.49
including 7.70 8.10 0.40 0.60 3.60 2.69 6.89
  17.50 18.93 1.43 0.29 1.88 4.34 6.50
               
Broken Hammer zone - WIS-007 Assay Summary
  FROM TO LENGTH Au Pt Pd TPM
  (meters)  (meters)  (meters)  g/T g/T g/T g/T
  41.00 43.16 2.16 0.23 1.11 2.58 3.92
including 41.50 42.00 0.50 0.28 2.34 1.93 4.55
  56.00 58.90 2.90 0.36 0.99 1.18 2.53
including 58.20 58.90 0.70 0.22 1.83 0.62 2.67
  71.00 80.50 9.50 0.69 1.67 2.28 4.64
including 71.00 73.44 2.44 1.70 1.67 4.56 7.94
and 77.80 80.50 2.70 0.82 4.34 3.84 9.00
including 77.80 78.20 0.40 1.38 7.54 11.20 20.12
and 79.00 79.30 0.30 1.73 13.00 7.53 22.26
and 79.80 80.10 0.30 1.28 7.17 4.16 12.61
               
Broken Hammer zone - WIS-008 Assay Summary
  FROM TO LENGTH Au Pt Pd TPM
  (meters)  (meters)  (meters)  g/T g/T g/T g/T
  30.40 30.68 0.28 0.35 4.37 9.16 13.88
               
South zone - WIS-004 Assay Summary
  FROM TO LENGTH Au Pt Pd TPM
  (meters)  (meters)  (meters)  g/T g/T g/T g/T
  5.00 8.70 3.70 0.14 1.10 0.94 2.18
including 6.45 7.65 1.20 0.23 1.26 1.04 2.53
and 7.65 8.35 0.70 0.17 1.51 0.93 2.61

Assays were completed by SGS Minerals using a standard fire assay for Au, Pt, Pd.

The style of mineralization encountered in the drilling is consistent with that observed in surface exposures. PGE associated sulphides occur in veins and fracture fillings of chalcopyrite, within broader zones of very finely disseminated chalcopyrite.

Drilling to date has confirmed consistent styles of PGE mineralization in the near surface environment. Drilling is continuing to test the down dip and strike extensions of mineralization encountered to date at the Broken Hammer zone.

The Wisner property is located on the North Range of the Sudbury Igneous Complex, just north of several known nickel-copper occurrences. Ownership of the Wisner property is 55% Wallbridge, 45% Falconbridge Limited.

The Qualified Person responsible for the technical content of this press release is Richard Murphy, P.Geo, Exploration Manager for Wallbridge Mining Company Limited.

For further information, contact:

Alar Soever
President
Wallbridge Mining Company Limited
Tel: (705) 682-9297
Fax: (705) 682-2144

Wallbridge Mining Company Limited was established in 1996 to explore for and develop nickel, copper and platinum group element deposits. The company's principal properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts the world's largest concentration of nickel deposits and is currently the most active mining camp in North America. Wallbridge also has properties elsewhere in northern Ontario, Nova Scotia and near Duluth, Minnesota. To find out more about Wallbridge Mining Company Limited (TSX: WM), visit our website at www.wallbridgemining.com/.

This document may contain forward-looking statements relating to Wallbridge's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Wallbridge's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. 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.