Programs in Sudbury

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TORONTO, Nov. 29, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") today announced that it has finalized the 2013 budgets on two joint
ventures with Lonmin Plc ("Lonmin") to explore for platinum, palladium,
copper, nickel, and gold mineralization in Sudbury, Ontario. The 2013
budgets include US$1 million for exploration on the Sudbury Camp Joint
Venture ("SCJV") and CAN$1.1 million for exploration on the recently
finalized North Range Joint Venture ("NRJV") funded solely by Lonmin.
Work will include detailed geological modelling, airborne and ground
geophysical surveys this winter and up to 4300 metres diamond drilling
and borehole geophysics in the spring.


"Wallbridge is very pleased to continue its joint venture partnerships
with Lonmin in Sudbury," commented Marz Kord, President and CEO of
Wallbridge, "As Wallbridge advances towards production at Broken
Hammer, this exploration funded by Lonmin will allow us to also advance
these earlier-stage projects towards discovery."


About the Sudbury Camp Joint Venture ("SCJV"):


The SCJV with Lonmin was formed to explore for platinum group metals,
nickel and copper on Wallbridge projects in Sudbury, Ontario.
Currently, the SCJV covers seven projects including Skynner Lake, Foy,
Windy, Cascaden, Trill, Trill West, and Creighton South. These projects
cover mineralized structures and favourable geology with geological and
geophysical drill targets and are adjacent to the Sudbury Igneous
Complex (SIC) contact which hosts many well-known mines and mineral
deposits.


Under the terms of the SCJV Agreement, Lonmin must fund a minimum of
US$1 million in expenditures each year to maintain the option to earn
up to a 50% interest in any property, based on its proportionate spend
at the point at which an Indicated Resource is established on that
property. Lonmin has the option to earn an additional 15% interest by
funding work through completion of a feasibility study and securing the
Wallbridge portion of financing through to commercial production.


About the North Range Joint Venture ("NRJV"):


The recently finalized NRJV with Lonmin has been formed to explore for
platinum group metals, nickel and copper on 14 of Wallbridge's North
Range projects in Sudbury, Ontario.


Under the terms of a private placement subscription agreement (see
Wallbridge press release, 28 June 2007) which provided CAN$3.9 million
of funding for the initial exploration of these properties, Lonmin
earned the right to enter into a joint venture on any of the North
Range Properties. On March 27, 2012, Lonmin provided notice of its
intention to exercise its right to form the NRJV to earn an interest in
14 properties in the North Range. The terms of the NRJV agreement have
now been finalized based on the principles set out in the subscription
agreement, which provide for Lonmin to earn up to a 50% interest by
spending twice Wallbridge's expenditures on the properties. Lonmin can
then earn up to a 65% interest in the properties by making additional
expenditures.


Prior to work by Wallbridge, the North Range Properties were largely
unexplored. These properties include a strike length of over 56
kilometres of offset dykes, mostly discovered by Wallbridge since
2007. Disseminated nickel, copper and PGE sulfide mineralization
exposed at surface within inclusion bearing phases of the quartz
diorite offset dykes has been discovered in areas with little previous
drilling. The North Range properties offer large-scale discovery
upside in Canada's most established mining district.


Joshua Bailey, M.Sc., P.Geo., Vice President, Exploration, is the
qualified person responsible for the technical content of this press
release.


About Wallbridge Mining


Wallbridge Mining Company Limited (WM:TSX) is an established metals company working to build sustainable growth for
investors through discovery and development of mineral resources.


Wallbridge specializes in copper, platinum, palladium gold, and nickel
projects in mining friendly jurisdictions of North America, with a
particular focus on Sudbury, Ontario. Wallbridge's position in Sudbury
offers exposure to unique large-scale discovery upside in Canada's
premier mining district.


Wallbridge has a record of generating high potential projects and
financing exploration through joint ventures or spin-out companies.
Wallbridge has 42 projects in Sudbury, Ontario, including 11 joint
ventures with partners Impala Platinum Holdings Limited, Lonmin Plc,
Xstrata Nickel and a number of junior mining companies.


Wallbridge also holds significant equity interests in spin-out companies
Duluth Metals Limited (DM:TSX) and Miocene Metals Limited (MII:TSV).


This press release may contain forward-looking statements (including
"forward-looking information" within the meaning of applicable Canadian
securities legislation and "forward-looking statements" within the
meaning of the US Private Securities Litigation Reform Act of 1995)
relating to, among other things, the operations of Wallbridge and the
environment in which it operates. Generally, forward-looking
statements can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Wallbridge has relied on a number of assumptions and estimates in
making such forward-looking statements, including, without limitation,
the costs associated with the development and operation of its
properties. Such assumptions and estimates are made in light of the
trends and conditions that are considered to be relevant and reasonable
based on information available and the circumstances existing at this
time. A number of risk factors may cause actual results, level of
activity, performance or outcomes of such exploration and/or mine
development to be materially different from those expressed or implied
by such forward-looking statements including, without limitation,
whether such discoveries will result in commercially viable quantities
of such mineralized materials, the possibility of changes to project
parameters as plans continue to be refined, the ability to execute
planned exploration and future drilling programs, the need for
additional funding to continue exploration and development efforts,
changes in general economic, market and business conditions, and those
other risks set forth in Wallbridge's most recent annual information
form under the heading "Risk Factors" and in its other public filings.
Forward-looking statements are not guarantees of future performance and
such information is inherently subject to known and unknown risks,
uncertainties and other factors that are difficult to predict and may
be beyond the control of Wallbridge. Although Wallbridge has attempted
to identify important risks and factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors and risks that
cause actions, events or results not to be as anticipated, estimated or
intended. Consequently, undue reliance should not be placed on such
forward-looking statements. In addition, all forward-looking statements
in this press release are given as of the date hereof.


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. The forward-looking statements contained
herein are expressly qualified by this disclaimer.




SOURCE: Wallbridge Mining Company Limited



For further information:

Please visit the Company's website at http://www.wallbridgemining.com/">www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited

Joshua Bailey, M.Sc., P.Geo Vice President, Exploration Tel: (705) 682-9297 ext. 240 Email: jbailey@wallbridgemining.com

Linda Zubal Director of Corporate Communications Tel: (705) 682-9297 ext. 263 Email: lzubal@wallbridgemining.com