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Wallbridge Mining Completes Delivery of Broken Hammer Bulk Sample to Strathcona Mill

June 28, 2011

TORONTO, June 28, 2011 /PRNewswire/ – Wallbridge Mining Company Limited (TSX:
WM) (FWB: WC7) (the “Company”) today announced that it had completed
delivery of 30,500 tonnes of material from its Broken Hammer
platinum-palladium-copper deposit to Xstrata`s Strathcona Mill for
processing.  Currently the material is scheduled for batch processing
next month.  This will determine the metallurgical recoveries and allow
for final determination grade, mining dilution and fines losses.  A new
resource estimate and feasibility study will be prepared using current
medium to long term metal prices, once results of the bulk sampling
program and the recently completed drill program are available.

“Successful delivery of the bulk sample completes another step along the
road to development of the Broken Hammer deposit”, stated Alar Soever,
President and CEO of Wallbridge, “Technica Mining, and our staff have
done an excellent job in working together to advance this project.”

Wallbridge discovered the Broken Hammer Zone as a result of an ongoing
grass roots exploration program on the North Range of the Sudbury
Basin. In November 2005, Roscoe Postle Associates Inc. estimated the NI
43-101 compliant, inferred mineral resource to be 251,000 tonnes at a
grade of 3.80 g/t total precious metals (1.56 g/t palladium, 1.62 g/t
platinum and 0.61 g/t gold), 1.00% copper and 0.10% nickel. This
resource estimate was prepared using a cut-off value of $CAN40/t, and
the then prevailing, long-term metal price projections of $US800/oz for
platinum, $US180/oz for palladium, $US400/oz for gold, $US 1.40/lb for
copper, and $US5.00 for nickel. Wallbridge currently holds a 98.5%
interest in the Broken Hammer Property while Xstrata Nickel retains a
1.5% carried interest with some buy back provisions.

The Qualified Person responsible for the technical content of this press
release is Mark Croteau P.Geo., Operations Manager for Wallbridge
Mining Company Limited.

About the Company

Wallbridge Mining Company Limited’s primary focus is the exploration for
platinum group elements (“PGE”), nickel and copper deposits in the
Sudbury area of Ontario. The Sudbury area hosts one of  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 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.  Duluth
Metals is advancing this resource through feasibility in joint venture
with Antofagasta plc, one of the world’s major copper producers. 
Wallbridge also holds a significant shareholding Miocene Metals
Limited, which was formed to finance the exploration of a portfolio of
copper-gold-molybdenum properties in southwestern BC.

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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