Mr. Marz Kord reports

WALLBRIDGE MINING TO ESTABLISH NEW JOINT VENTURE WITH PLATINUM PRODUCER LONMIN PLC

Lonmin PLC has advised that it is exercising its right to enter into a joint venture to acquire an interest in Wallbridge Mining Company Ltd.'s North Range properties in the Sudbury area.

"The North Range properties provide a unique opportunity for grassroots discovery around the Sudbury basin, Canada's premier mining district," said Marz Kord, Wallbridge's president. "This new agreement with Lonmin demonstrates the strength of our strategy of identifying projects and advancing them towards discovery while minimizing risk and dilution to shareholders."

Under terms of a private placement subscription agreement dated June 6, 2007, and amendments thereafter, which provided $3.9-million of financing for the initial exploration of these properties, Lonmin has the right to elect to enter into a joint venture on any of the North Range properties upon its review of the report detailing the results of the exploration financed by this investment. Lonmin has indicated it wishes to exercise its right with respect to 14 of the North Range properties covering an area of 408 square kilometres.

Terms of the new joint venture will be negotiated based on the principles set out in the agreement, which provide for Lonmin to earn a 50-per-cent interest in Wallbridge's rights to the North Range properties, by spending twice the amount expended on the properties to date, subject to any underlying interests held by third parties.

Recent work by Wallbridge on the North Range properties has identified a number of priority exploration targets for platinum group metals, nickel, copper and gold. The work has also led to the discovery of 46.5 kilometres of new offset dike structures and a number of new mineral occurrences. Offset dikes are important geological structures in Sudbury, and over 25 per cent of the ores mined in the region over the past 126 years have been hosted by these types of structures.

The qualified person responsible for the technical content of this press release is Joshua Bailey, PGeo, vice-president, corporate development, for Wallbridge Mining.

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