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Press Releases

March 02, 2009
Wallbridge Intersects Copper, Nickel and Precious Metals in 8,600 Metre Parkin Drill Program

Toronto, Ontario - March 2, 2009 -- Wallbridge Mining Company Limited (TSX:WM; FWB: WC7) ("Wallbridge") today announced results of the 13 hole, 8,674 metre drill program recently completed on its Parkin Offset Dyke Properties in Sudbury, Ontario. The drilling was funded by joint venture partner Impala Platinum Holdings Limited ("Impala"), the world's second largest primary platinum producer, which is earning an interest in the property. (See Wallbridge press releases dated August 26, 2008 and September 22, 2008).

Significant intersections of nickel ("Ni"), copper ("Cu") and platinum group element ("PGE") mineralization were cut in three holes, all on the southern claim block, including:
  • WMP-131, which intersected 3.26 metres of 3.3 g/t TPM*, 0.68% Ni and 3.01% Cu including 0.38 metres of 13.35 g/t TPM, 2.83% Ni and 13.0% Cu
  • WMP-133, which intersected 4.00 metres of 1.2 g/t TPM, 0.17% Ni and 0.25% Cu
  • WMP-134 which intersected 7.02 metres of 2.39 g/t TPM, 0.64% Ni and 0.66% Cu, including 0.46 metres of 6.17 g/t TPM, 1.42% Ni and 3.66% Cu
* TPM=platinum+palladium+gold

True width is estimated at about 50% of core length. A map showing the drilling and the extent of the 9.4 kilometre contiguous land package can be viewed on our website at www.wallbridgemining.com.

Commenting on the drill results, Alar Soever, President of Wallbridge, stated, "In addition to intersecting nickel, copper and precious metals mineralization, these latest results along with previous drilling, confirmed that mineralization occurred in portions of the dyke with complex structures. In this respect, the Parkin Offset Dyke is similar to highly mineralized environments on the Copper Cliff and Worthington Offset Dykes, which have been historical producers of copper and nickel for nearly 100 years."

Full analytical results, including anomalous results from WMP-130 are tabulated below:

 Drill Hole #

From
(m)

To
(m)

Metres
(m)

Au
(g/t)

Pt
(g/t)

Pd
(g/t)

TPM
(g/t)

Ni
(%)

Cu
(%)

Co
(%)

WMP-130

467.3

468.0

0.70

0.05

0.19

0.18

0.42

0.26

0.44

0.01

WMP-131

190.5

193.76

3.26

0.18

0.99

2.13

3.30

0.68

3.01

0.01

Includes

193.38

193.76

0.38

0.34

3.41

9.6

13.4

2.83

13.0

0.06

 

 

 

 

 

 

 

 

 

 

 

WMP-133

234.87

238.87

4.00

0.26

0.28

0.66

1.20

0.17

0.25

0.01

 

 

 

 

 

 

 

 

 

 

 

WMP-134

230.93

240.95

7.02

0.25

0.82

1.24

2.31

0.64

0.66

0.02

Includes

230.93

231.39

0.46

0.76

2.07

3.34

6.17

1.42

3.66

0.03



The drilling program tested geological and geophysical targets as well as the projected extension of known mineralized zones in several areas along the 9.4 kilometre strike length of the dyke at up to 1,500 m depth. A summary of target types and results from drilling these targets can be viewed in tabular form on our website at http://www.wallbridgemining.com/i/pdf/Targetsandresults.pdf.

The Parkin Offset Dyke property comprises a southern block of claims held 98.5% by Wallbridge and 1.5% by Xstrata Nickel, a central block of claims covering the historic Milnet Mine workings owned 100% by Wallbridge and a northern block of claims, which is subject to an option and joint venture agreement between Wallbridge and Champion Bear Resources (See map on Wallbridge's website at http://www.wallbridgemining.com/i/pdf/ParkinPressReleaseFeb2009.pdf).

Impala Platinum Holdings ("Impala") can earn a 50% interest in the Parkin Offset Dyke property by spending $5 million over a three year period. Impala can then increase its interest to 65% by funding a Feasibility Study and securing Wallbridge's portion of the development funding through to commercial production on a project loan basis (See Wallbridge press release dated August 26, 2008). Wallbridge can earn a 50% interest in Champion Bear's block of claims by spending $2 million over two years. 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. (See Wallbridge press release dated April 28, 2008).

Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then shipped to their analytical facilities in Vancouver. Samples were analyzed for Au, Pt, and Pd by standard lead collection fire assay fusion followed by a combination of inductively coupled plasma mass spectrometry (ICP-MS) and atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total digestion and a combination of ICP-MS and ICP-AES.

The Qualified Person responsible for the technical content of this press release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge Mining Company Limited.

About Wallbridge Mining Company Limited

Wallbridge Mining Company Limited's primary focus is the exploration of nickel, copper and platinum group element ("PGE") deposits in the Sudbury area of Ontario. The Sudbury area hosts the world's largest concentration of nickel deposits and is currently the most active mining camp in North America. Major joint venture partners in Sudbury include Vale Inco, Xstrata Nickel, Lonmin Plc. and Impala Platinum Holdings Limited. Wallbridge also has a major shareholding in Duluth Metals Limited, which has defined a large copper-nickel-PGE resource in the rapidly emerging Duluth Complex base metal camp in Minnesota. Wallbridge is also exploring a large porphyry copper-gold-molybdenum property in south-western British Columbia and has interests in copper-zinc and gold properties in north-eastern Ontario.

For Further Information
Please visit the Company's website at www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited
Alar Soever, President
Tel: (705) 682-9297
Email: asoever@wallbridgemining.com

Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 369-1500 ext 222
Email: mstrazdins@wallbridgemining.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.