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Press Releases

April 28, 2008
Wallbridge and Champion Bear enter into Option and Joint Venture Agreement in respect of Champion Bear's Parkin Property

Toronto, Ontario and Calgary, Alberta, April 28, 2008 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) and Champion Bear Resources Ltd. (TSXV: CBA) are pleased to announce that they have entered into an option and joint venture agreement in respect of Champion Bear's Parkin Property, which encompasses approximately 1,200 hectares and covers 6.5 kilometres of strike length along the Parkin Offset dyke. Under the terms of the agreement, Wallbridge has the right to acquire a 50% interest in the property by making a $100,000 cash payment to Champion Bear, issuing Champion Bear 263,158 common shares of Wallbridge and incurring exploration expenditures on the property in the amount of $2,000,000 on or before April 24, 2010. If Wallbridge exercises its option, a joint venture will be formed between Wallbridge and Champion Bear whereby each will hold a 50% interest in the property. Initially, Wallbridge will be the operator of the joint venture. Wallbridge may then increase its interest in the property to 75% by completing a definitive feasibility study on a deposit which is in whole or in part on the property and funding Champion Bear's portion of development expenditures as a loan against Champion Bear's portion of the proceeds of production.

After earning pursuant to the agreement with Champion Bear, Wallbridge will control a total of 9.4 kilometres along the dyke. This is the first time that this package of claims has been held as a single unit and will enable a comprehensive exploration program to be carried out. This is particularly vital for the purpose of carrying out deeper penetrating geophysical surveys between drill holes. The total property encompasses 2,150 hectares covering 9.4 kilometres of strike length of the dyke and includes:

  • Wallbridge's Parkin Property (98.5% Wallbridge, 1.5% Xstrata Nickel), which hosts the Parkin Resource (43-101 Indicated Resources of 290,928 tons @ 0.70% Cu, 0.65% Ni, 0.03% Co, 0.62 g/t Pt, 0.80 g/t Pd, 0.23 g/t Au and 6.3 g/t Ag; resource calculated in 2002 by A. Soever of Watts, Griffis and McOuat)
  • Wallbridge's 100% owned Milnet Property, which hosts the past producing Milnet Mine (Produced 157,130 tons @ 1.54% Ni, 1.49% Cu, 2.25 g/t Pt, 2.98 g/t and 0.33 g/t Au)
  • Wallbridge's Champion Bear JV Property, which hosts the Brady Showing and several other targets on the Northern Block.
Commenting on the agreement with Champion Bear, Alar Soever, President of Wallbridge stated, "Offset dykes are very attractive exploration targets in Sudbury as demonstrated by recently announced mine development projects at Totten and Copper Cliff. This acquisition will allow the exploration of a large mineralized section of the Parkin Offset to depth".
"The opportunity to partner with Wallbridge on this highly prospective property is a very positive milestone for Champion Bear", commented Richard Kantor, Chairman and President of Champion Bear.

About Wallbridge

Wallbridge Mining Company Limited explores for and develops 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 a major shareholding in Duluth Metals Limited, which has a significant property position in the rapidly emerging Duluth Complex base metal camp in Minnesota.

For further information, please visit the Company's website at www.wallbridgemining.com or contact:

Alar Soever, President

Mara Strazdins, Vice-President, Investor Relations

Tel: (705) 682-9297

Tel: (416) 369-1500 ext 222

Email:

Email:


About Champion Bear

Champion Bear Resources Ltd. is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totalling over 16,000 hectares.

For further information, please visit the Company's website at www.championbear.com or contact:

Richard D. Kantor
Chairman and President
Tel: (403) 229-9522
Fax: (403) 229-9518

Reader Advisory

Certain information regarding Wallbridge and Champion Bear (the "Companies") set forth in this joint news release including management's assessment of the Companies' future plans and operations and the effect of the option and joint venture agreement on the Companies contain forward looking statements that involve substantial known and unknown risks and uncertainties. These forward looking statements are subject to numerous risks and uncertainties, certain of which are beyond the Companies' control including, without limitation, the impact of general economic conditions, industry conditions, volatility of commodity prices and the ability to access sufficient capital from internal and external sources. The Companies' actual results, performance or achievements may differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits that the Companies will derive therefrom. Additional information on these and other factors that could affect the Companies' results are included in reports on file with the Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) at Wallbridge's website (www.wallbridgemining.com) or Champion Bear's website (www.championbear.com). Furthermore, the forward looking statements contained in this joint news release are made as at the date of this joint news release and none of the Companies undertake any obligation to update publicly or to revise any of the forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this joint news release.