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Press Releases

July 30, 2009
Wallbridge Mining Confirms Conductor In Parkin Offset Dyke

Toronto, Ontario -- July 30, 2009 -- Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) today announced that it has confirmed the presence of a highly conductive body in the Milnet Mine claim block of their Parkin Offset dyke joint venture property in Sudbury. Results of a down-hole electromagnetic UTEM-4 survey in hole WMM-010W1, the first wedge-cut from WMM-010, have confirmed the presence of a highly conductive body immediately east of the hole. This is the same conductor that initially was detected from WMM-010, which is located 72 metres further to the east (see Press Release dated May 27, 2009).

The results of the UTEM-4 survey completed in WMM-010W1 confirm the presence of a highly conductive body with a conductivity of 3000 siemens, located 5 to 15 metres east of hole WMM-010W1, from 1475 to 1535 metres depth down the hole. A wedge-cut is currently underway from WMM-010W1 to intersect the centre of the conductor as modeled by Lamontagne Geophysics.

The Parkin 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 and three claims between Wallbridge's southern and Milnet claim blocks covering the so-called Brady Showing, which are subject to an option and joint venture agreement between Wallbridge and Champion Bear Resources (See property map on Wallbridge's website at www.wallbridgemining.com).

The Parkin Property is being explored in joint venture with Impala Platinum Holdings Limited (Impala), the world's second largest primary platinum producer. Impala can earn a 50% interest in the Parkin 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 blocks of claims by spending $2 million by July 2011. 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).

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 Wallbridge website at www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited

 

Alar Soever, President

Mara Strazdins, Vice-President, Investor Relations

Tel: (705) 682-9297

Tel: (416) 369-1500, Ext. 222

Email:

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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.