Wallbridge announces amendment to its North Range Joint Venture with Lonmin

Wallbridge announces amendment to its North Range Joint Venture with Lonmin 
TORONTO, Dec. 17, 2013 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, 
FWB: WC7) ("Wallbridge") today announced that it has entered into an agreement 
with Lonmin Plc and Lonmin Canada Limited (together "Lonmin") to amend the 
existing North Range Joint Venture ("NRJV") agreement. The amendment (the 
"Wisner Amendment") provides Lonmin the option to earn a 50% initial interest 
in Wallbridge's Wisner package of properties ("Wisner Properties"), excluding 
the Broken Hammer development project and its immediate down plunge extension, 
by making cash option payments and funding exploration totalling $6 million 
over three years. 
The Wisner Properties cover a 10 kilometre strike length of prospective 
geology for footwall type Cu-PGE mineralization, including several known 
Cu-PGE occurrences. "This agreement provides us with the funding to explore 
along the mineralization trend for distal extensions of the Broken Hammer 
deposit and to test other targets in the immediate area", stated Marz Kord, 
President and CEO of Wallbridge. "It provides significant exploration funding 
without further diluting our shareholders. We are very pleased to be 
partnering with Lonmin on this prospective land package." 
Joint Venture Terms 
Under terms of the Wisner Amendment, Lonmin can earn a 50% interest in the 
Wisner Properties by making cash option payments and funding exploration 
totalling $6 million over three years, as follows: 


    i.         Lonmin will fund exploration costs on the Wisner
               Properties totalling $3.6 million over three years, with
               minimum annual exploration expenditures of $1.2 million;
                
    ii.        Lonmin will make cash option payments to Wallbridge
               totalling 2/3 of annual exploration costs with respect
               to the Wisner Properties (a minimum of $800,000 per year
               over three years); and
                
    iii.       Wallbridge will fund 40% of exploration costs on the
               Wisner Properties over the same three year period.

Upon vesting its initial interest, Lonmin will have the option to earn a 15% 
additional interest by committing to fund the Wisner Properties through to a 
definitive feasibility study.

This agreement will increase the 2013/2014 NRJV exploration budget to $3.5M 
including the previously approved $1.5M exploration budget on the 14 NRJV 
properties (refer to press release dated October 10, 2013), for the period 
from October 1, 2013, through September 30, 2014.

The initial exploration program on the Wisner Properties is already underway 
with re-processing of existing geophysics, completion of airborne geophysics, 
and ground geophysical surveys this winter. Follow-up drilling is expected to 
start in mid-late winter.

Wisner Properties Description

Wallbridge's Wisner Properties include five contiguous properties including 
two mining leases, one patent and 31 mining claims covering 1,120 hectares. 
These include the 98.5% Wallbridge owned Broken Hammer property (excluding the 
Broken Hammer development project), the 100% Wallbridge owned Wisner West 
property, the 78% Wallbridge owned Wisner Glencore Joint Venture property, the 
100% Wallbridge owned Wisner East property, and the 100% Wallbridge owned 
Bowell property.

Work to date has identified several priority exploration targets on the Wisner 
properties as follows:

  1. Extensions to the Broken Hammer Cu-PGE development project;
  2. A 1.5 km Cu-PGE trend at the Southwest Zone and South Zone


 occurrences;
  3. Anomalous PGE values in Sudbury breccia on the outer flank of the 
 Wisner gabbro; and
  4. Surface EM, airborne EM, and IP anomalies in Sudbury breccia at 
 Wisner East. 
Exploration target areas are shown in Figures 1 and 2 below: 
Figure 1: Wisner Package of Properties 
Figure 2: Broken Hammer extension exploration potential 
About Wallbridge Mining 
Wallbridge Mining Company Limited (WM:TSX) is an established junior company, 
formed in 1996, whose mission is to explore and develop platinum group 
elements (PGE's) in mining friendly jurisdictions of North America. 
Wallbridge is currently exploring and developing a large package of properties 
in Sudbury, Ontario, Canada's premier mining district. These include the 
pre-feasibility stage Broken Hammer development project and significant 
exploration joint ventures with partners Lonmin Plc, Impala Platinum Holdings 
Limited and Glencore. 
In 2005, Wallbridge created Duluth Metals Limited (TSX:DM) to explore and 
develop projects in Minnesota, USA. Duluth Metals has since defined the 
world's largest undeveloped sulfide PGEs, copper and nickel deposit which it 
is developing through Twin Metals Limited, a joint venture with copper 
producer Antofagasta Plc. Wallbridge currently retains 10.1 million shares of 
Duluth Metals (8.1%). 
In 2010, Wallbridge created Miocene Metals Limited (TSXV:MII) to explore and 
develop seven porphyry copper-gold-molybdenum projects in British Columbia, 
Canada, within a previously under-recognized belt of Miocene-age intrusions. 
These projects are early stage with large mineralized structures and 
alteration zones that are ready for drilling with potential for large tonnage 
deposits. Wallbridge currently retains 28.4 million shares of Miocene Metals 
(40.5%). 
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 
Please visit the Company's website atwww.wallbridgemining.com, or contact: 
Linda Zubal Vice President, Corporate Communications Tel: (705) 682-9297 ext. 
263 Email:lzubal@wallbridgemining.com 
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CO: Wallbridge Mining Company Limited
ST: Ontario
NI: MNG VNT  
-0- Dec/17/2013 12:30 GMT
 
 
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