Show printable version of 'Wallbridge Mining Continues Exploration on Hess an...' in a New Window

Press Releases

October 25, 2007
Wallbridge Mining Continues Exploration on Hess and Ministic Offset Dyke Properties Joint Ventured with Champion Bear

Joint News Release

Wallbridge Mining Continues Exploration on Hess and Ministic Offset Dyke Properties Joint Ventured with Champion Bear

Toronto, Ontario -- October 25, 2007 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) and Champion Bear Resources Ltd. (TSX Venture: CBA) today jointly reported on Wallbridge's nickel-copper-PGM exploration progress on its joint ventures with Champion Bear on the Hess and Ministic Offset dykes. Drilling will be carried out on two geophysical targets on the Hess Property Offset Dyke. In addition, a mapping and prospecting program along existing geophysical anomalies will be completed on the Ministic Offset Dyke. Both properties are situated in the North Range of the prolific Sudbury Basin.
On the Hess Property, a Titan-24 survey completed this summer over a 2.0 kilometre section of the Hess Offset dyke has identified several drill targets within a broad Titan 24 IP and MT anomaly centred on disseminated mineralization discovered in 2006 by Wallbridge's mapping and prospecting program. Two drill holes totalling a maximum of 500 metres will target two zones within the anomalous geophysical response. Earlier sampling of the surface mineralization returned up to 2,630 ppm copper, 1,760 ppm nickel, 80 ppb gold, 182 ppb platinum, and 657 ppb palladium (0.919 g/t TPM). (see Wallbridge's press release dated December 19, 2006). Drill testing of this target is expected to commence in early November 2007.
At the conclusion of the drilling program Wallbridge will have completed its earn in and will have a 50% interest in the Hess Property. Future exploration expenditures will be funded on a 50:50 basis with Champion Bear.
Wallbridge's other joint venture with Champion Bear is the Ermatinger Joint Venture, which covers a 4.6 kilometre section of the Ministic Offset Dyke. The joint venture technical committee has approved a $96,000 exploration program consisting of mapping and prospecting existing IP and EM anomalies along the Ministic Offset Dyke and an approximate 231 line kilometre airborne EM and magnetometer survey.
Field work is to commence at the end of October with the airborne survey to follow in late November and will be jointly funded by Wallbridge and Champion Bear on a 50:50 basis.
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 47 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. Any ICP overlimits were re-analyzed using sodium peroxide fusion acid dissolution followed by 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.

About Wallbridge
Wallbridge Mining Company Limited explores for and develops 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 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 or contact:

Alar Soever, President Mara Strazdins, Vice-President, Investor Relations
Tel: (705) 682-9297 Tel: (416) 369-1500 ext 222
Email: [email protected]
Email: [email protected]

About Champion Bear
Champion Bear 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 Champion Bear's website at or contact:

Richard D. Kantor, Chairman and President
Tel: (403) 229-9522
Email: [email protected]

This joint news release contains forward-looking statements concerning the timing and composition of additional exploration to be completed on the Hess and Ministic Offset dykes which are based on Wallbridge's current internal expectations. These statements are not guarantees of future performance and involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, changes in general economic, market and business conditions. 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.

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