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Press Releases

January 20, 2005
Wallbridge and Falconbridge Commence $ 2.7 Million Exploration Program on Sudbury Joint Venture.

Toronto, Ontario - January 20, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced that the 'Four Times' joint venture (64% Wallbridge, 36% Falconbridge Limited) has approved a $2.7 million exploration program which will commence immediately. The focus of this new work will be at the Wisner property where the joint venture has been advancing the Broken Hammer discovery. The Broken Hammer zone occurs at surface and is characterized by high grade copper-platinum-palladium mineralization.

The principle goals of the current work program at Wisner are to:

  1. Advance the Broken Hammer Zone to first an Indicated Resource, and then to complete metallurgical testwork and bulk sampling to be in a position to advance the project through feasibility.

  2. Test for possible extensions of the Broken Hammer Zone at depth through an aggressive drilling campaign.

  3. Test several other targets on the Wisner Property with diamond drilling.
In addition to this work at the Wisner property, the joint venture will advance exploration at the Frost Lake property where Wallbridge has discovered two zones of copper-platinum-palladium mineralization similar to that at the Broken Hammer Zone. Work at Frost Lake will include a detailed induced polarization survey over areas where platinum-palladium mineralization is known to occur at surface. This will be followed by drill testing of all favourable targets.

Work will be reinitiated at the Parkin property. The joint venture will complete metallurgical testwork and a scoping study on the Parkin nickel-copper- PGE mineralization to provide the inputs required for a potential production decision.

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.