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Wallbridge Mining Announces Miocene Metals Appointments

June 8, 2010

TORONTO, June 8 /PRNewswire-FirstCall/ – Wallbridge Mining Company Limited (“Wallbridge” or the “Company”) (TSX: WM) today announced that Bruce Jago has been appointed President and CEO, and Clinton Smyth Vice-President of Exploration, of the Wallbridge spin-out company Miocene Metals Limited (“Miocene Metals”). Appointed to the Board of Directors of Miocene Metals are Parviz Farsangi, Tom Hussey, Bruce Jago, Darryl Sittler, and Alar Soever.

Commenting on the appointments, Alar Soever, President and CEO of Wallbridge and Chairman of Miocene Metals stated, “We are very pleased to have been able to put together such a strong team with many years of experience in the mining industry. Our British Columbia properties represent exceptional copper-gold-molybdenum exploration opportunities within a newly defined mineralized belt. As work is starting on areas of newly discovered mineralization, we now have the team to drive the exploration work forward.”

Miocene Metals is a wholly owned subsidiary of Wallbridge, set-up for the purpose of funding the exploration of Wallbridge’s British Columbia properties. Currently, Miocene Metals is proceeding with a seed round of financing, which will fund its activities as it acquires Wallbridge’s BC properties and completes a summer exploration program. The summer work program will include mapping and sampling to define the limits of the newly discovered mineralization on the MacKenzie Property, mapping and sampling of a 15 kilometre trend of molybdenum occurrences on the Salal property, as well as diamond drilling on these properties and the Rogers Creek property, where mineralization was intersected in drilling last fall.

Bruce Jago has more than 20 years of experience in base metal, precious metal, and diamond exploration in Canada, Venezuela and Brazil. Graduating from the University of Toronto in 1991 with a Ph.D. in Geology, he joined Inco Exploration and was appointed as Exploration Manager, Brazil in 1996. In 1998, Bruce joined Lakefield Research, now SGS Minerals, as Manager – Mineralogical Services and Head – Diamond Exploration Services, following which he was Manager – Diamond Projects for Temex Resources Corp. Bruce joined Wallbridge in 2005 as Vice-President of Exploration.

Clinton Smyth has more than 30 years of experience in minerals exploration, resource evaluation and mining. He joined De Beers Consolidated Mines in 1974, moving to the Anglo American Corporation of South Africa in 1978. He then joined Minorco as a Consulting Geologist, responsible for all exploration in Australasia, and establishing regional offices in Indonesia, Papua New Guinea, Fiji and Australia. In 2000 he immigrated to Canada, where he founded Georeference Online Ltd (“GOL”) a knowledge engineering applications and consulting firm for the minerals exploration and mining industries.

The Board of Directors include Parviz Farsangi, formerly Executive Vice President and COO of Vale Inco Limited and with a long career at Falconbridge Limited; Tom Hussey who is currently VP and CFO of Brampton Engineering Inc. and formerly CFO of Wallbridge; Darryl Sittler, a former NHL League player, inductee of the Hockey Hall of Fame and businessman; and, Alar Soever, appointed Chairman of Miocene Metals, is currently the President and CEO of Wallbridge with over 30 years of experience in the mineral exploration industry. Mary Montgomery has been appointed CFO for Miocene Metals and is currently CFO of Wallbridge.

About the Companies

Wallbridge Mining Company Limited’s primary focus is the exploration for platinum group element (“PGE”), nickel, and copper 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.

Miocene Metals Limited is a spin out company from Wallbridge which will be focused on exploration for and development of copper-gold-molybdenum resources in southwestern British Columbia within the Cascade Magmatic Arc.

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.

SOURCE Wallbridge Mining Company Limited


Source: newswire



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