Wallbridge Mining and Lonmin Approve $2.5 million for 2008 Sudbury Camp Joint Venture Exploration Program



    TORONTO, Oct. 11 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that Wallbridge and its joint venture partner major
platinum producer Lonmin Plc have approved C$2.5 million of funding to carry
out the 2008 work program on the Wallbridge/Lonmin Sudbury Camp Joint Venture
("SCJV") properties. The funding provides for approximately 8,000 metres of
diamond drilling and other exploration work for the period from October 1st,
2007 to September 30th, 2008.
    Wallbridge and Lonmin formed the SCJV in January 2002 to explore a number
of properties in the Sudbury area for platinum group metals, as well as copper
and nickel. The SCJV properties cover some 220 square kilometres of
Wallbridge's approximately 680 square kilometre land package in the Sudbury
area.
    The 2008 Exploration Program is focussed on target areas on the Skynner
Lake, Trill, Foy, Cascaden, Trill West and Windy Lake properties which have
geophysical targets coincident with favourable geology. The approximately
8,000 metre 2008 Drill Program includes testing high priority DCIP anomalies
and AMT conductors defined by the 2007 Titan-24 surveys on the Skynner Lake
Property and Trill properties.
    Lonmin and Wallbridge will both contribute funds to the exploration
program, with Lonmin contributing C$1.5 million, and Wallbridge contributing
C$1.0 million.
    "The 2008 program is aimed primarily at drill testing some very high
quality targets generated by several years of extensive exploration work",
stated Alar Soever, President of Wallbridge. "This new funding in the SCJV
demonstrates the confidence we have in these targets and allows us to proceed
with drilling. We look forward to a very productive 2008."

    About Wallbridge Mining

    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, save and except as may
be required by applicable securities laws.

    %SEDAR: 00010252E




For further information:

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: asoever@wallbridgemining.com;
Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 369-1500 ext
222, Email: mstrazdins@wallbridgemining.com


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