Wallbridge Mining Initiates 2008 Summer Exploration Program in Sudbury



    TORONTO, July 2 /CNW/ - Wallbridge Mining Company Limited (TSX:WM; FWB:
WC7) today announced that its summer exploration program in Sudbury is well
underway with three drills operating and eight mapping and prospecting field
crews mobilised to assess targets on 21 individual properties. The 2008
exploration program includes approximately 10,000 metres of diamond drilling
on 11 properties. The program is a follow-up to previous exploration work
including 1630 line-kilometres of airborne and 130 kilometres of ground
geophysical surveys. Drills are currently operating on the Trill, Wisner and
Capreol JV properties.
    A map showing all of Wallbridge's Sudbury Area properties as well as
additional information on the primary properties can be found on our website
at www.wallbridgemining.com under the tab Projects.

    Sudbury Camp Joint Venture (SCJV): Platinum Group Elements (PGEs) -
    Nickel - Copper

    Exploration has started on the six properties comprising Wallbridge's
Sudbury Camp Joint Venture with Lonmin Plc:
    Creighton South and Trill Properties - Up to 1700 metres of drilling has
begun targeting Titan IP/MT geophysical anomalies defined during the summer
and fall of 2007.
    Foy Property - Up to 700 metres of drilling is planned to test
geophysical and geochemical anomalies on two targets which are: 1) a zone of
geochemically anomalous Sudbury Breccia and partial melting within an 850
metre long IP trend near the southern boundary of the property, and 2) a
northwest-trending structure that is rooted in the Sudbury Igneous Complex
contact at First Nickel's Premier Ridge deposit. The structure hosts multiple
zones of partial melting and high temperature alteration assemblages as
indicated by geochemical sampling and fluid inclusion studies.
    Cascaden Property - Up to 1000 metres of drilling is planned to test
Titan IP/MT geophysical anomalies once 3D modelling and ground-truthing of the
anomalies has been completed. The Cascaden property is located in the footwall
of the Windy Lake embayment.
    Trill West Property - Exploration will consist of ground-truthing
airborne magnetic anomalies related to major structures parallel to the
Sudbury Igneous Complex contact and trenching a high temperature,
geochemically anomalous zone of Sudbury Breccia discovered in the fall of
2007.
    Skynner Lake Property - Wallbridge is currently waiting for the results
of a constrained inversion of Titan IP/MT data on its Skynner Lake property
prior to completing fall drilling plans. Summer work includes completing
targeted mapping and sampling along extensive zones of Sudbury Breccia
discovered in 2005 and 2006.

    Xstrata Nickel Joint Venture Properties (FLJV)

    Frost Lake Property:
    --------------------
    The Frost Lake program includes up to 2800 metres of drilling in three
holes to test Wallbridge's Amy Lake PGE Zone at depth. The Amy Lake Zone is in
the same belt of rocks, which hosts the Capre 3000 Zone located just 600
metres south of Wallbridge's Frost Lake property boundary. This discovery was
announced by the Vale Inco - Lonmin Plc joint venture January 2007. In the
same vicinity, the footwall to the Capre Lake Embayment will be drill tested
with a 1200m borehole. The Capre Lake embayment hosts Vale Inco Limited's
Capre Lake occurrence, a zone of contact-style Ni-Cu-sulphide mineralization,
which lies immediately west of the Capre 3000 Zone.

    Wisner Property:
    ----------------
    Up to 2250 metres of drilling has begun to test Titan 24 DCIP/MT and
conventional IP anomalies on the Wisner property. Mineralization found to date
on the property occurs as stringers and pods of Cu-Ni-PGE-rich sulphides
hosted in irregular, altered zones of Sudbury Breccia at the South and
Southwest Area showings. The majority of drilling will test deep targets 2.3
kilometres west of Wallbridge's Broken Hammer deposit. Shallow drilling of
targets 700 metres southeast and 1.7 kilometres east of the Broken Hammer
deposit will test coincident geophysical and rock geochemical anomalies.

    North Range Properties: Copper-PGEs

    Wallbridge's North Range Project was formed in 2006, to assess the
potential for PGE-copper mineralization as indicated from earlier results. The
project includes joint ventures with Pele Mountain Resources Inc., Champion
Bear Resources Ltd. and Crowflight Minerals Inc., as well as the staking of
the Cascaden North, North Range and Trill West properties. This collaborative
effort has expanded Wallbridge's land position in this area and provided the
basis for this multi-property project built on an emerging model for the
structural evolution of the Sudbury Basin. The North Range Project currently
consists of 13 properties covering 35,422 hectares.
    A total of $3.9 million is budgeted to the end of 2009 for exploration on
these properties and funded by a private placement by the world's third
largest primary platinum producer, Lonmin Plc (see Wallbridge press release
dated June 28, 2007), which retains a right to enter into a joint venture on
these properties.
    North Range Properties - Exploration on several of the North Range
properties commenced early in 2008 with the completion of an 890
line-kilometre airborne electro-magnetic and magnetic survey on Wallbridge's
North Range, Cascaden North and Ermatinger properties and a 9.6 line-kilometre
Titan 24 survey on Wallbridge's Cascaden North property. Summer exploration
work on the Cascaden North Property includes drilling, which is scheduled
after the completion of Titan IP and MT target 3D modelling. Work on the North
Range and Ermatinger Properties includes the compilation of airborne
anomalies, followed by mapping and prospecting and then drill testing in the
fall.
    Elsewhere within the North Range Project, field work has commenced on the
Ruza and Daigle properties located in the immediate footwall of the Sudbury
Igneous Complex less than two kilometres north of the town of Levack. On the
Ruza property, beep-mat prospecting has located boulders of massive
pyrrhotite-pyrite-chalcopyrite mineralization of uncertain origin as well as
weak pyrrhotite-pyrite mineralization in rusty-weathering outcrops of Sudbury
Breccia. Mapping and prospecting of both properties will be used to focus deep
penetrating geophysical surveys followed by drilling in the late fall or early
2009.
    Pele Property - Exploration in 2007 on the Pele Property extended the
Pele Breccia Belt across the southern third of the property and resulted in
the discovery of weakly anomalous copper, PGE, pathfinder and chlorine
anomalies within extensive areas of Sudbury Breccia. This work provided the
basis for a 110 line-kilometre winter and spring IP survey. Results for the
survey are pending and will be used to direct grid-mapping and prospecting
followed by fall drilling. Mapping and prospecting also will be undertaken on
an extensive logging road network that provides access to the north-western
half of the property.
    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 primarily explores for and develops
nickel, copper and platinum group element ("PGE") 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.
Wallbridge has volcanic-hosted copper-zinc and gold properties in Ontario and
a large porphyry copper-molybdenum-gold property in south-western British
Columbia. Wallbridge is actively seeking joint venture partners for projects
outside of the Sudbury area.

    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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