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Press Releases

January 19, 2005
Wallbridge Continues to Extend Broken Hammer Zone on Wisner Property in Sudbury

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Toronto, Ontario - January 19, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced that drilling of the Broken Hammer Zone at the Wisner Property in Sudbury has encountered new intersections of high grade platinum-palladium-gold mineralization.

Highlights of these new results include:

  • 3.98 g Pt+Pd+Au/t over 23.28 metres in WIS-036 (2.14 g Pt/t, 1.73 g Pd/t, 0.41 g Au/t, 0.36% Cu, 0.10% Ni)

  • 2.40 g Pt+Pd+Au/t over 10.60 metres in WIS-031 (1.77 g Pt/t, 1.18 g Pd/t, 0.38 g Au/t, 0.24% Cu, 0.03% Ni)

  • 2.04 g Pt+Pd+Au/t over 15.00 metres in WIS-037 (1.22 g Pt/t, 0.82 g Pd/t, 0.24 g Au/t, 0.39% Cu, 0.03% Ni)
Because the mineralization is hosted in an irregular-shaped breccia body, true width of individual intersections is difficult to determine with any accuracy. Overall the drilling to date has defined a near surface, westerly plunging zone of mineralization that is continuous over at least 200 meters of strike length and across 20 meters in width with an average true mineralized thickness of 25 meters.

Assay results have now been received for four of the seven holes completed in December at the Broken Hammer Zone on the Wallbridge-Falconbridge Wisner Joint Venture property. Assays for three additional holes in the Broken Hammer area are still pending, and will be reported when they become available.

The full results for the recently received holes are tabulated below.

Hole From
(m)
To
(m)
Core Length
(m)
Pt
g/t
Pd
g/t
Au
g/t
Cu
%
Ni
%
Pt+Pd+Au
g/t
WIS-030 8.00 11.00 3.00 0.94 0.71 0.32 0.14 0.03 1.97
WIS-031 7.20 7.60 0.40 0.32 1.76 0.08 0.67 1.00 2.16
WIS-031 22.00 26.50 3.80 0.35 0.90 0.18 0.18 0.03 1.30
WIS-031 35.40 47.00 10.60 1.77 1.18 0.38 0.24 0.03 2.40
WIS-031 75.50 77.20 1.70 0.25 6.47 1.05 0.07 0.03 7.77
WIS-036 4.00 27.28 23.28 2.14 1.73 0.41 0.36 0.10 3.98
WIS-036 37.64 39.30 1.66 1.38 0.77 0.09 0.12 0.02 2.24
WIS-036 53.00 55.00 2.00 1.41 0.85 0.25 0.01 0.01 2.51
WIS-037 5.50 13.00 7.50 0.72 0.90 0.13 0.32 0.05 1.76
WIS-037 34.00 49.00 15.00 1.22 0.82 0.24 0.39 0.03 2.04
WIS-037 61.50 79.00 17.50 0.80 0.90 0.23 0.28 0.03 1.83

"We are very pleased that the shallow drilling at Broken Hammer is continuing to establish continuity and define extensions of the zone" states Alar Soever, President of Wallbridge Mining. "We look forward to continue expanding the limits of the Broken Hammer Zone through 2005, with a view to defining an economic deposit"

An additional 5 holes have been completed outside of the Broken Hammer area on the Wisner property in December 2004. Results of these holes will be released when available. Drilling has recommenced at the Wisner property with one drill. A second drill rig will be mobilized to the property in the first half of February. The company will continue to release results and progress updates on a regular basis.

Maps of the Wisner Property and the Broken Hammer Zone can be found on the Company's website at www.wallbridgemining.com.

Wallbridge owns 65% of the Joint Venture which covers the Broken Hammer Zone. Falconbridge Limited owns the remaining 35%.

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.

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