Wallbridge Mining Defines Highly Conductive Drill Targets on Sudbury Parkin Offset Dyke Properties



    TORONTO, May 27 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) is pleased to announce today that two highly conductive targets have been
delineated on its Parkin Offset Dyke Properties (Parkin Properties), located
in Sudbury, Ontario, as a result of recent down-hole geophysical surveys. As
such targets within offset dykes have a high probability of representing
massive nickel-copper-platinum group element-bearing (PGE) sulphides, the
Company hopes to drill test these targets in the upcoming summer work program.
The exploration program is in joint venture with Impala Platinum Holdings
Limited.
    Commenting on the geophysical results, Alar Soever, President of
Wallbridge, stated "The definition of these two high quality targets is the
result of our systematic drilling program and the use of state-of-the-art
geophysical techniques. We look forward to drill testing these targets as part
of the next work program on the property. Drill testing of highly conductive
targets such as these has resulted in the discovery of major deposits on other
offset dykes in Sudbury".
    The highest priority target is highly conductive (minimum 5000 siemens
conductor identified by a UTEM-4 down-hole electromagnetic survey) and is
located about 30 metres northwest of hole WMM-010 with its top at a depth of
1370 metres down-hole or a vertical depth of about 1200 metres. This conductor
is located within the down-plunge projection of the Number 2 Zone sulphide
lenses of the Milnet Mine, which saw production of 157,130 tons at a grade of
1.49% copper (Cu), 1.54% nickel (Ni), 2.25 g/t platinum (Pt), 2.98 g/t
palladium (Pd) and 0.33 g/t gold (Au) in the 1950's. Historic drilling below
the mine workings intersected mineralization to a depth of about minus 500
metres along this trend. Notable intersections include 1.5 metres of 1.34% Cu
and 4.34% Ni, 1.0 metres of 1.10% Cu and 1.70% Ni, 0.2 metres of 5.00% Cu and
10.00% Ni and 0.3 metres of 2.51% Cu, 0.41% Ni and 1.02 g/t
platinum+palladium+gold (TPM). A figure showing the location of the off-hole
conductor relative to drill hole WMM-010, historical Milnet Mine workings,
historical intersections and the interpreted geometry of the Parkin Offset
Dyke and entitled "Cross-section of drillhole WMM-010" can be viewed on our
website at www.wallbridgemning.com as part of this press release.
    The second conductive zone was detected by a Fara Systems radio-imaging
(RIM) survey and is located about 860 metres southwest of conductor No. 1, at
a vertical depth of about 740 metres. This conductive zone is located down dip
of the Brady Showing, a high grade lense of surface mineralization located
about halfway between the Milnet Mine and Wallbridge's Parkin resource.
Historic channel sampling of the Brady showing has returned values of up to
2.7 metres of 11.2% Cu, 0.6% Ni, 9.2 g/t Pt, 4.3 g/t Pd and 1.6 g/t Au. A
longitudinal section illustrating the geophysical results relative to known
mineralization entitled "Geophysical long section - Parkin Offset Dyke" can be
viewed on our website at www.wallbridgemining.com as part of this press
release.
    The Parkin Properties comprises a southern block of claims held 98.5% by
Wallbridge and 1.5% by Xstrata Nickel, a central block of claims covering the
historic Milnet Mine workings owned 100% by Wallbridge and a northern block of
claims and three claims between Wallbridge's southern and Milnet claim blocks
covering the so-called Brady Showing, which are subject to an option and joint
venture agreement between Wallbridge and Champion Bear Resources (See property
map on Wallbridge's website at www.wallbridgemining.com).
    The Parkin Properties are being explored in joint venture with Impala
Platinum Holdings Limited (Impala), the world's second largest primary
platinum producer. Impala can earn a 50% interest in the Parkin Property by
spending $5 million over a three year period. Impala can then increase its
interest to 65% by funding a Feasibility Study and securing Wallbridge's
portion of the development funding through to commercial production on a
project loan basis (See Wallbridge press release dated August 26, 2008).
Wallbridge can earn a 50% interest in Champion Bear's blocks of claims by
spending $2 million over two years. Wallbridge may then increase its interest
in the property to 75% by completing a definitive feasibility study on a
deposit, which is in whole or in part on the property and funding Champion
Bear's portion of development expenditures as a loan against Champion Bear's
portion of the proceeds of production. (See Wallbridge press release dated
April 28, 2008).
    The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.

    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 northeastern Ontario.

    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, (416) 369-1500 ext 222,
Email: mstrazdins@wallbridgemining.com


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