Press ReleasesNovember 26, 2009
Wallbridge Mining adds Parviz Farsangi and Roland Horst to Board of Directors
Toronto, Ontario -- November 26, 2009 -- Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) is pleased to announce the appointment of Parviz Farsangi and Roland Horst to its Board of Directors. These two appointments add considerable strength to the board in the areas of operations and corporate finance.
Commenting on these appointments Warren Holmes, Chairman of Wallbridge stated, "The addition of these two new Directors significantly enhances the capability of the Board to deliver successful projects for the shareholders of Wallbridge".
Parviz Farsangi has an extensive operations background and knowledge of the nickel industry, with a history of employee and community engagement. Most recently he was Executive Vice-President and Chief Operating Officer of Vale Inco Limited with the responsibility for leading the operations of Vale Inco's wholly-owned subsidiaries.
Prior to joining Vale Inco Mr. Farsangi had a long career with Falconbridge Limited starting at Falconbridge's Kidd Creek Mine in 1987 and rising to General Manager of the Falconbridge Sudbury Mines/Mill Business Unit in 2002. Subsequently he was President, Gramercy Alumina in Louisiana and St. Ann Bauxite in Jamaica for Falconbridge.
Mr. Farsangi is a graduate of Laurentian University in Sudbury, Ontario in 1985 with a B.Eng. in Mining Engineering. He received his M.Eng. in Rock Mechanics from McGill University in Montreal, Quebec in 1987 and went on to receive a Ph.D. in Mining Engineering from McGill in 1996. He also earned an M.B.A. from Queen's University Business School in 1998.
He is a member of the Association of Professional Engineers of Ontario, the Canadian Institute of Mining & Metallurgy, the Transition Board of Canadian Mining Innovation Council, past member of the Executive Committee and Board of Directors of the Mining Association of Canada, past Chairman of the Mine Managers Committee of the Ontario Mining Association and a past member of the Mining Legislative Review Committee.
Roland Horst has 35 years of mining industry experience as a chief executive officer, investment banker, corporate banker and geologist, including 13 years as a CEO of both public and private companies involved in mining production, development and exploration in Canada, Brazil, Indonesia and Chile.
Most recently he was President and CEO of Royal Nickel Corporation. Before Royal Nickel Mr. Horst was President and CEO of International Nickel Ventures Corporation, Vice President, Business Development for FNX Mining and President of Aurora Platinum Corporation. Previously Mr. Horst was CEO of Aeroquest Limited and Scintrex Limited, two geophysical companies.
Mr. Horst also has extensive experience in investment banking having held positions as head of the Mining Group at Nesbitt Thomson, Co-Head of Mining Group at Richardson Greenshields, and as a mining corporate banker with the Bank of Montreal.
Mr. Horst holds a Masters in Business Administration from the Richard Ivey School of Business Administration, University of Western Ontario, a Bachelor of Law (LLB) from the University of Western Ontario, a M.Sc. in Geology from Laurentian University and a B.Sc. in Geology from McGill University.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration for platinum group element ("PGE"), nickel, and copper 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 and CEO
Tel: (705) 682-9297
Mara Strazdins, Vice-President, Investor Relations
Tel: (416) 369-1500 ext 222
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.