Press ReleasesNovember 22, 2005
Lonmin Approves $1 million Budget for Sudbury Camp Joint Venture Winter Work Program
Toronto, Ontario - November 22, 2005 - Wallbridge Mining Company Limited (TSX: WM) today announced that its joint venture partner Lonmin Plc. has approved C$1 million of funding to carry out the fall 2005/winter 2006 exploration program on the Wallbridge/Lonmin Sudbury Camp Joint Venture ("SCJV") properties. The funding covers the work proposed for the period ending March 31, 2006, which includes 3,000 metres of diamond drilling to follow-up on the results of summer 2005 field work and a VTEM Airborne Electromagnetic survey currently being completed on a number of the SCJV properties.
Drill targets to be tested during the winter program include:
- Two VTEM conductors in the footwall rocks to Falconbridge's Bowell Deposit on the SCJV Foy property;
- Two VTEM conductors associated with strongly epidote altered belts of Sudbury breccia and trace copper mineralization on the Skynner Property on the East Range;
- A number of conductors spatially associated with possible extensions or offsets of the Trill offset dyke discovered this summer on the Trill Property; and
- A large belt of Sudbury breccia identified on the northern part of the Trill property by summer 2005 field work.
The Qualified Person responsible for the technical content of this press release is Alar Soever, P.Geo, President of Wallbridge Mining Company Limited.
Wallbridge Mining Company Limited was established to explore for and develop nickel, copper and platinum group element (PGE) 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
Cavalcanti Hume Funfer Inc., Investor Relations
Nick Kohlmann, Vice President
Tel: (416) 868-1079 ext. 222
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.