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Press Releases

December 09, 2004
Wallbridge Continues to Extend Broken Hammer Zone On Wisner Property in Sudbury

Toronto, Ontario - December 9, 2004 - Wallbridge Mining Company Limited (TSX: WM) today announced that ongoing drilling on the Wisner Property in Sudbury continues to encounter significant intersections of high grade platinum-palladium-gold mineralization.

Complete assay results have now been received for holes WIS-027 through WIS-030 and WWW-005 to WWW-009. Highlights of these new results include:
  • 20.42 meters averaging 14.86 g/T PGE (Pt+Pd+Au), 5.02% copper and 0.30 % nickel in hole WIS-028. (partial assays previously released).
  • Hole WIS-030 intersected seven separate mineralized sections including 15.69 g/T PGE over 4.97 meters, 2.76 g/T PGE over 4.54 meters, 2.12 g/T PGE over 17.61 meters and 6.06 g/T PGE over 1.61 meters.
  • A second, deeper mineralized zone in hole WIS-027, which yielded 9.99 g/T PGE over 5.88 meters.
  • An upper zone of 5.36 g/T PGE over 11.20 meters and a lower zone of 4.12 g/T PGE over 12.30 meters in hole WIS-029.
These four holes were drilled on the Wallbridge-Falconbridge Joint Venture property. The full results from these four holes are tabulated below.

FLJV DIAMOND DRILL ASSAYS
Hole From
(m)
To
(m)
Core Length
(m)
Pt
g/t
Pd
g/t
Au
g/t
Ag
g/t
Cu
%
Ni
%
Pt+Pd+Au
g/t
WIS-027 2.80 18.00 15.20 1.67 3.00 2.01 4.33 1.92 0.39 6.68
WIS-027 22.00 27.88 5.88 4.31 4.05 1.63 18.22 1.43 0.15 9.99
WIS-028 53.00 73.42 20.42 6.12 5.98 2.76 9.69 5.02 0.30 14.86
WIS-029 12.00 23.25 11.20 1.78 3.00 0.58 3.14 1.04 0.07 5.36
WIS-029 43.50 55.80 12.30 1.81 1.94 0.37 2.57 0.25 0.03 4.12
WIS-030 1.50 4.16 2.66 0.75 0.55 0.11 2.77 0.22 0.03 1.40
WIS-030 14.00 18.54 4.54 1.15 1.29 0.32 4.83 0.60 0.03 2.76
WIS-030 29.84 47.45 17.61 0.57 1.22 0.33 2.95 0.93 0.05 2.12
WIS-030 53.00 54.16 1.16 0.91 2.84 1.42 6.50 1.66 0.17 5.17
WIS-030 56.51 57.00 0.49 0.63 2.97 0.74 3.00 0.30 0.03 4.34
WIS-030 65.90 67.51 1.61 4.92 0.86 0.28 5.68 0.30 0.04 6.06
WIS-030 75.55 80.52 4.97 9.51 5.59 0.59 8.86 0.29 0.05 15.69

Holes WWW-005 to 008 tested the northern limit of the eastern end of the Broken Hammer Zone mineralization along the boundary between the Wallbridge-Lonmin Plc Sudbury Camp Joint Venture (SCJV) and the Wallbridge-Falconbridge Joint Venture. Mineralization was intersected in two of the five holes; highlights include 1.86 g/T PGE over 7.92 meters in hole WWW-007 and 3.95 g/T PGE over 8.18 meters in WWW-008. Complete assay results are shown in the table below.
SCJV DIAMOND DRILL ASSAYS
Hole From
(m)
To
(m)
Core Length
(m)
Pt
g/t
Pd
g/t
Au
g/t
Ag
g/t
Cu
%
Ni
%
Pt+Pd+Au
g/t
WWW-005 no significant values
WWW-006 no significant values
WWW-007 5.93 13.85 7.92 0.71 0.86 0.30 7.09 0.59 0.19 1.86
WWW-008 no significant values
WWW-009 8.10 16.30 8.18 1.31 2.06 0.59 6.21 1.62 0.03 3.95

"Drilling completed to date in the area of the Broken Hammer Zone has defined a near surface, westerly plunging zone of mineralization that is continuous over 200 meters of strike length and across 20 meters in width with an average true mineralized thickness of 25 meters" states Alar Soever, President of Wallbridge Mining. "Wider, very high grade zones appear to be located at the intersection of this roughly east-west mineralized zone and a series of north trending structures, the extent of which have not been fully defined by the drilling to date. The Broken Hammer Zone remains open to the west."

Drilling is continuing on the Broken Hammer Zone as well as on other targets over the nine-kilometre strike length of favourable geology on the Wisner Property. An additional 12 holes have been completed on the Wisner property. Of these, five new holes were drilled in the Broken Hammer Zone, and seven holes were drilled elsewhere on the property to test new targets. The assay results from this drilling will be released when available.
A plan map of the drilling on the Broken Hammer Zone can be found on the Company's website www.wallbridgemining.com.

The current exploration program for the Wallbridge-Falconbridge Joint Venture will be completed by the end of December, at which time it is anticipated that Wallbridge will have increased its interest in that Joint Venture's portion of the Wisner property to approximately 64%. A new exploration program will commence early in 2005.

Assays were undertaken by SGS Canada Inc. Mineral Services in Toronto, Ontario using a standard fire assay for Au, Pt, Pd and sodium peroxide fusion/ICP finish for base metals.

The Qualified Person responsible for the technical content of this press release is Alar Soever, P.Geo, President of Wallbridge Mining Company Limited.

About the Company
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.

FOR FURTHER INFORMATION please visit the Company's website at www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited
Richard Murphy, Vice President Corporate Development
Tel: (705) 682-9297
Email: rmurphy@wallbridgemining.com

Cavalcanti Hume Funfer Inc., Investor Relations
Nick Kohlmann, Vice President
Tel: (416) 868-1079 ext. 222
Email: nick@chfir.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, save and except as may be required by applicable securities laws.