Wallbridge Mining Uncovers Gold-Silver-Copper-Lead Mineralization in the Sudbury Area



    TORONTO, Dec. 4 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that it has uncovered significant gold, silver, copper
and lead mineralization within an area of 80 by 150 metres on its Demorest
Property ("Property") northeast of Sudbury, Ontario. Surface grab Sample
No.701756 returned 2.87g/t gold, 770.0g/t silver, 3.70% copper and 2.93% lead,
Sample No.601613 returned 12.10g/t gold, 49.80g/t silver and 0.79% copper, and
Sample No.604168 returned 1.45g/t gold, 1175.0g/t silver, 1.37% copper and
5.68% lead. The property is located about 25 kilometres northeast of
Wallbridge's Parkin Offset property which hosts the Parkin Resource. It is
accessible by road and is a very short drive from infrastructure located in
the City of Sudbury.
    "This acquisition and discovery is a result of our ongoing work in the
Sudbury region," stated Alar Soever, President of Wallbridge "The fact that
such good grade mineralization can be located on surface again demonstrates
how under-explored this area of Ontario is. It continues to surprise us that
this quality of mineralization can still be found on surface within a stone's
throw of such a major mining camp."
    The Property was acquired in the spring of 2007 when it was brought to
Wallbridge's attention by local prospectors. A sample collected by the
prospectors and assayed at the Ontario Geoscience Laboratories in Sudbury,
Ontario, contained 2.1 oz/ton gold (72 g/t gold). This fall, mechanical
stripping, mapping, and sampling of four mineralized outcrops was completed by
Wallbridge during a preliminary evaluation of the Property. The
chalcopyrite-galena mineralization is associated with multiple, multi-stage
quartz-carbonate veins exhibiting highly developed crack-seal textures within
a broad, northeast-trending shear structure cutting a gabbroic intrusion.
Where exposed, the mineralized zones have widths of 5 to 10 metres.
    Assay results for grab samples collected by Wallbridge are listed in
Table 1 below. Assay results for an additional 36 channel samples and an
additional nine grab samples are pending. Sample locations are shown in
Figure 1 - Compilation map of the Demorest Property 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 early in 2008.

    
             Table 1. Summary of assay results received to date.

    -------------------------------------------------------------------------
                    Grab             Au                Ag           Cu     Pb
    Outcrop No.   Sample No.     g/t   oz/ton      g/t   oz/ton      %      %

        1          601612       4.82     0.14    10.00     0.29   0.16   0.05
        1          601613      12.10     0.35    49.80     1.45   0.79   0.05
        1          604168       1.45     0.04  1175.00    34.27   1.37   5.68
        1          604169       3.62     0.11    14.75     0.43   0.92   0.19

        3          604170       0.89     0.03   161.00     4.70   0.14   0.49
        3          604171       1.07     0.03    25.40     0.74   0.78   0.44
        3          701753       0.65     0.02   166.00     4.84   0.12   1.10
        3          701754       1.10     0.03    69.00     2.01   7.99   0.02
        3          701755       0.65     0.02    12.00     0.35   1.35   0.01
        3          701756       2.87     0.08   770.00    22.46   3.70   2.93
        3          701757       0.19     0.01   567.00    16.54   2.44  10.90
        3          701758       2.05     0.06   225.00     6.56   0.49   1.49
        3          701759       0.01     0.00     5.00     0.15   0.03   0.07

        5          601615       0.15     0.00    94.40     2.75   5.43   0.03
        5          601616       0.05     0.00     2.20     0.06   0.21   0.00
        5          601617       0.28     0.01    25.90     0.76   0.82   0.07
        5          604172       0.18     0.01     3.67     0.11   0.62   0.01

        6          601614       0.22     0.01     2.27     0.07   0.66   0.00
        6          604173       0.32     0.01     3.60     0.11   1.05   0.00
    -------------------------------------------------------------------------
    

    Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES. 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.

    %SEDAR: 00010252E




For further information:

For further information: For further information, please visit 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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