Press ReleasesJuly 20, 2009
Wallbridge Mining Appoints Soever CEO, Holmes Chairman
Toronto, Ontario - July 20, 2009 - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) announced today that Alar Soever, President of the Company has also been appointed as Chief Executive Officer. Warren Holmes, a director of Wallbridge since 2002, has been appointed Chairman of the Board of Directors. The new appointments follow upon the recent untimely passing of CEO and Chairman, Risto Laamanen.
Wallbridge Mining will continue to focus on its Sudbury copper-nickel and PGE projects and its Rogers Creek porphyry copper-gold-molybdenum property in British Columbia. The Company currently has two drills turning in Sudbury as part of its 8,900 metres summer drilling program on joint venture projects with Impala Platinum Holdings Limited and Lonmin Plc (see Press Release dated July 2, 2009). At Rogers Creek, the Induced Polarization survey currently underway has identified a large chargeability anomaly beneath an area of surface copper-gold mineralization. (see Press Release dated July 10, 2009).
Mr. Alar Soever has 30 years of experience in the mineral exploration industry and has been the President of Wallbridge since 2003. Prior to 2003, Wallbridge was one of his clients at Watts, Griffis & McOuat Ltd. where he was responsible for their copper-nickel-PGE practice. Mr. Soever has been involved with Wallbridge since the early stages of exploration efforts in Sudbury and will continue to implement the Company's vision to discover the next large nickel-copper-platinum group deposit in Sudbury, while not ignoring other opportunities such as Wallbridge's new Rogers Creek copper-gold discovery in British Columbia. Mr. Soever was also instrumental in the spin-out of Wallbridge's Minnesota copper-nickel-platinum group properties into Duluth Metals (TSX:DM), in which Wallbridge currently retains a 12.4% ownership position.
Mr. W. Warren Holmes is a mining engineer (P. Eng), and holds a MBA. He is Chairman of Nuinsco Resources Limited and Victory Nickel Inc, Vice-Chairman of Atlanta Gold Inc, a Director of HudBay Minerals Inc, a Director of Foraco International SA, and a Director of several other private corporations. He was previously with Noranda Inc (1964---1986), and Falconbridge Limited (1986---2002) latterly as Senior Vice President of Canadian Mining Operations. He has also been the President of the Canadian Institute of Mining, Metallurgy, and Petroleum, Chairman of the Ontario Mining Association, and Co Chair of the Ontario Mineral Industry Cluster Council.
About Wallbridge Mining
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: [email protected]
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 710-0646
Email: [email protected]
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.