The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

Wallbridge Terminates Booth River Option

Friday, August 17, 2012

Wallbridge Terminates Booth River Option13:03 EDT Friday, August 17, 2012TORONTO, Aug. 17, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") today announced that it has terminated its agreement with 4763 NWT Ltd., dated September 12, 2011, pursuant to which Wallbridge was granted the option to acquire a 100% interest of certain mineral claims located in Nunavut, Canada, by making payments and incurring exploration expenditures (see Wallbridge press release dated November 16, 2011).Management has determined that in the current economic climate shareholders are best served by concentrating efforts on advancing the company's platinum, palladium, nickel and copper assets in Sudbury, including 100% owned Wallbridge projects as well as projects being funded by joint venture partners.About Wallbridge MiningWallbridge 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 nickel, copper, platinum, palladium and gold projects in mining friendly jurisdictions of North America, with a particular focus on Sudbury, Ontario. Wallbridge's position in Sudbury offers 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 48 exploration to pre-feasibility stage mineral projects. These include 12 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 document may contain forward-looking statements relating to operations of Wallbridge or its subsidiaries or to the environment in which they operate. 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 LimitedFor further information: Please visit the Company's website at 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