Wallbridge Mining Initiates $1.6 million 2009 Exploration Program on Parkin Offset Dyke



    TORONTO, June 11 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) ("Wallbridge") today announced that its joint venture partner Impala
Platinum Holdings Limited ("Impala"), the world's second largest primary
platinum producer, has allocated $1.6 million dollars for the 2009 exploration
program on the Parkin Offset dyke properties in Sudbury. The program includes
6,300 metres of diamond drilling.
    "We appreciate the support of our joint venture partner Impala", stated
Alar Soever, President of Wallbridge. "Their continued contribution to this
project allows us to continue to aggressively explore these properties in
spite of the difficult economic times."
    The first two holes of the new program will target two highly conductive
targets defined by geophysical surveys during the winter 2008/2009 program
(see Wallbridge press release dated May 27, 2009). Drilling is being initiated
this week on the following two targets:

    
    -   Target 1, the highest priority target is a highly conductive, minimum
        5000 siemens conductor identified by a UTEM-4 down-hole
        electromagnetic survey within the down-plunge projection of the
        Number 2 Zone sulphide lenses of the Milnet Mine. Production at the
        Milnet Mine in 1950's reportedly totaled 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).

    -   Target 2, the second conductive zone is located at a vertical depth
        of about 740 metres on the portion of the property which Wallbridge
        has under option from Champion Bear Resources. This conductive zone
        is located down-dip of the Brady Showing, a high grade lense of
        surface mineralization located about halfway between the past
        producing 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 map showing the two targets can be viewed on the Company's website at
www.wallbridgemning.com as part of this press release. Additional information
can be found in the Company's previous press release on the website dated May
27, 2009.
    The Parkin Properties comprise 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 Brady Showing, which are subject to an option and joint
venture agreement between Wallbridge and Champion Bear Resources.
    The Parkin Properties are being explored in joint venture with Impala
Platinum Holdings Limited, 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 prior
to August 19, 2011. 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 Company Limited

    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.

    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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