Wallbridge Cuts 3.85 g/t Gold and 1410 g/t Silver Across 1.2 Metres on Demorest Property



    TORONTO, Feb. 21 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced significant channel sample results from its 100% owned
Demorest property located approximately 25 kilometres northeast of
Wallbridge's Parkin property. The property was acquired because of initial
high grade grab sample results, with up 12.1 g/t gold, 1175 g/t Ag, 7.99% Cu
and 10.90% Pb (as reported by Wallbridge in a December 4, 2007 press release).
A drill program is scheduled to start upon completion of an IP survey planned
for March 2008.
    Thirty-five channel samples totalling 36.13 metres in length were cut
from two trenches that cover a total area of 270 m(2). Highlight assays from
seven channel samples cut into Trench 1 include:

    
    -   249 g/t Ag (8.01 oz/ton), 0.66 g/t Au, 0.60% Cu and 1.12% Pb over
        1.37 metres
    -   80 g/t Ag (2.58 oz/ton), 2.27 g/t Au, 2.72% Cu and 0.20% Pb over
        1.00 metre

    Highlight assays from five channel samples cut into Trench 2 include:

    -   424 g/t Ag, (13.63 oz/ton), 1.81 g/t Au, 1.33% Cu and 2.31% Pb over
        1.00 metre
    -   103 g/t Ag, (3.31 oz/ton), 1.16 g/t Au, 1.5% Cu and 0.25% Pb over
        1.00 metre
    -   1410 g/t Ag (45.33 oz/ton), 3.85 g/t Au, 6.79 % Cu and 6.05% Pb over
        1.2 meters
    

    "These assay results indicate the presence of a significant mineralized
vein system, the full extent of which is as of yet unknown. This is an
exciting new poly-metallic discovery with very high silver credits," stated
Alar Soever, President of Wallbridge Mining. "We will be starting linecutting
next week, in preparation for an IP survey, which will be followed by diamond
drilling."
    Channel sampling was completed in two of the recently excavated trenches
that exposed Ag-Au-Cu-Pb mineralization on the Demorest Property.
Mineralization occurs as quartz-carbonate-sulphide veins within a broad
north-east trending shear zone cutting gabbro.
    Trench 1 exposed mineralized vein material across a width of 8 metres and
along a minimum strike length of 28 metres. This vein system is open along
strike to the northeast and southwest where it is covered by overburden.
    The entire Trench 2, 40 metres to the northwest of Trench 1, exposed
similar mineralization and veining over an area of about 10 metres by 15
metres. Again, the system here is open in all directions beneath overburden.
    Individual sample assays and weighted average composites from channel
samples collected by Wallbridge are listed in Table 1 and channel sample
locations are shown on Figure 1 (Demorest Au-Ag Property: Trench Map and
Channel Locations), which can be found on our website at
www.wallbridgemining.com under press releases.
    A first phase of drilling with up to 400 metres of coring is expected to
commence before the end of April following up an induced polarization (IP)
survey expected to be completed before the end of March 2008. Preliminary
drilling and IP surveying will be directed toward understanding the structure
of the mineralization along strike and down dip and to determine whether
mineralization exposed in Trench 1 and Trench 2 is connected at depth or form
parallel, mineralized vein systems.
    Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Gold was analyzed by
standard fire assay procedures using Chemex's Au-SCR21 +/- screen fraction
analysis package to more accurately determine the gold content of the samples.
Au values reported in Table 1 represent the weighted average of oversized and
undersized fractions. Silver, Cu, and Pb were analyzed by Chemex's standard
ICP package (ME-MS61) using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES Analytical methods.
    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.

    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.

    
    Table 1: 2007 Demorest Channel Sample Results

    -------------------------------------------------------------------------
                     2007 Demorest Channel Sample Results
    -------------------------------------------------------------------------
                       Lengths(m)      ppm   oz/ton   ppm oz/ton    %     %
    Sample  Channel From   To   Length      Ag           Au        Cu    Pb
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701761     A                 1.37  249.00  8.01   0.66 0.021   0.60  1.12
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701762     B                 0.96  218.00  7.01   0.58 0.019   1.13  0.99
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701763     C    0.00  1.00   1.00    4.67  0.15   0.11 0.004   0.45  0.02
    701764     C    1.00  2.00   1.00    6.29  0.20   1.01 0.032   2.75  0.01
    701765     C    2.00  2.50   0.50    6.21  0.20   0.12 0.004   2.08  0.01
    701766     C    2.50  4.00   1.50   40.00  1.29   2.87 0.092   1.45  0.37
    701767     C    4.00  5.00   1.00   22.10  0.71   0.91 0.029   0.12  0.33
    701768     C    5.00  6.15   1.15    8.67  0.28   0.47 0.015   0.07  0.05
    Composite  C                 6.15   17.26  0.55   1.13 0.036   1.08  0.16
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701769     D                 1.20   11.10  0.36   2.71 0.087   2.28  0.01
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701770     E                 1.15    0.98  0.03   0.39 0.013   0.11  0.01
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701771     F    0.00  1.00   1.00   11.55  0.37   0.60 0.019   0.17  0.01
    701772     F    1.00  2.00   1.00   18.00  0.58   1.26 0.041   3.03  0.01
    701773     F    2.00  2.90   0.90    3.48  0.11   0.36 0.012   0.21  0.01
    Composite  F                 2.90   11.27  0.36   0.75 0.024   1.17  0.01
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701774     G    0.00  1.00   1.00   80.10  2.58   2.27 0.073   2.72  0.20
    701775     G    1.00  2.00   1.00    0.89  0.03   0.05 0.002   0.06  0.00
    701776     G    2.00  3.00   1.00    0.33  0.01   0.05 0.002   0.02  0.00
    Composite  G                 3.00   27.11  0.87   0.79 0.025   0.93  0.07
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701776     H                 1.00  424.00 13.63   1.81 0.058   1.33  2.31
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701778     I    0.00  1.00   1.00  103.00  3.31   1.16 0.037   1.50  0.25
    701779     I    1.00  2.00   1.00   51.30  1.65   0.62 0.020   1.76  0.17
    701780     I    2.00  3.00   1.00    1.52  0.05   0.05 0.002   0.05  0.01
    701781     I    3.00  4.00   1.00    0.60  0.02   0.05 0.002   0.02  0.00
    701782     I    4.00  5.00   1.00    1.07  0.03   0.05 0.002   0.05  0.01
    701783     I    5.00  6.00   1.00   17.80  0.57   0.10 0.003   0.06  0.23
    701784     I    6.00  7.00   1.00    1.14  0.04   0.05 0.002   0.02  0.03
    Composite  I                 7.00   25.20  0.81   0.30 0.010   0.50  0.10
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701785     J                 1.00   21.70  0.70   1.39 0.045   0.98  0.09
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701786     K    0.00  1.00   1.00    0.49  0.02   0.05 0.002   0.01  0.00
    701787     K    1.00  2.00   1.00    1.66  0.05   0.07 0.002   0.08  0.01
    701788     K    2.00  3.50   1.50    5.76  0.19   1.60 0.051   0.47  0.00
    701789     K    3.50  4.70   1.20 1410.00 45.33   3.85 0.124   6.79  6.05
    Composite  K                 4.70  362.30 11.65   1.52 0.049   1.90  1.55
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    701790     L    0.00  1.00   1.00   11.35  0.36   0.05 0.002   0.06  0.05
    701791     L    1.00  2.00   1.00    1.49  0.05   0.05 0.002   0.01  0.01
    701792     L    2.00  3.00   1.00    1.03  0.03   0.05 0.002   0.01  0.01
    701793     L    3.00  4.00   1.00    3.64  0.12   0.13 0.004   0.13  0.02
    701794     L    4.00  5.00   1.00    0.93  0.03   0.05 0.002   0.02  0.01
    701795     L    5.00  5.70   0.70    0.72  0.02   0.05 0.002   0.01  0.01
    Composite  L                 5.70    3.32  0.11   0.06 0.002   0.04  0.02
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    %SEDAR: 00010252E




For further information:

For further information: the company's website at
www.wallbridgemining.com or contact: 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


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