Wallbridge Mining Expands North Range Ni-Cu-PGE Project, Geophysics and Drilling Planned for 2011

TORONTO, March 3 /CNW/ --

HIGHLIGHTS

    --  Wallbridge has acquired two new claim groups. One claim group
        was staked over the defined extension of the Hess Offset Dyke.
        Another was acquired from Xstrata Nickel covering an
        interpreted extension of the Hess Offset Dyke.
    --  Geological mapping and prospecting this past fall extended the
        Ni-Cu-PGE mineralized Hess Offset dyke to over 35 km long on
        Wallbridge's North Range properties.
    --  An 82.5 line-km, deep-penetrating electromagnetic survey is
        being completed to identify conductive Ni-Cu-PGE sulphides
        along 18 km of the Hess Offset dyke.
    --  An airborne electromagnetic and magnetic survey will be
        completed in spring 2011 to identify conductive Ni-Cu-PGE
        sulphides along the newly discovered 17 km of the Hess Offset
        dyke.
    --  Follow-up drill testing of conductive Ni-Cu-PGE sulphide
        targets is planned for the summer and fall of 2011.

TORONTO, March 3 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) (FSE: WC7) ('Wallbridge') announced that fieldwork this past fall significantly extended the
known strike length of the Ni-Cu-PGE mineralized Hess Offset dyke near
Sudbury. Further to this, Wallbridge has acquired two new claim blocks
in the area and now controls a total of 35 km of this mineralized
structure (see accompanying map). A geophysical program is underway to
identify conductive Ni-Cu-PGE sulphides within the dyke and follow-up
drilling is planned for later this year.

'Over one third of Sudbury's rich nickel, copper and platinum group
metals endowment comes from offset dykes. Wallbridge now controls over
one half of these dykes in Sudbury, most of which have seen little, if
any, systematic exploration,' stated Alar Soever, President and CEO of
Wallbridge Mining. He added, 'Wallbridge's strategic land position
offers grassroots discovery upside for nickel, copper and platinum
group metals within Sudbury, the most established mining district in
Canada.'

The Hess Offset dyke is located north of the Onaping-Levack area, one of
the richest producing regions in the Sudbury Mining Camp and also the
site of Xstrata's Strathcona mill. The dyke includes numerous Ni-Cu-PGE
surface occurrences, including one on adjacent Vale claims where
drilling in the 1960's intersected 7.25m with 1.27% nickel, 1.07%
copper and 2.34 g/t platinum, palladium plus gold. Despite its location
and the presence of Ni-Cu-PGE mineralization, the Hess Offset dyke has
seen very little prior exploration.

In 2010, Wallbridge geologists conducted detailed mapping over the
previously known extent of the Hess Offset dyke and was successful in
following it a further 25 km to the southwest, identifying it in
outcrops and glacial boulder trails through a recently logged area.

Two additional claim blocks were acquired to cover the length of the
dyke. Eighteen claims totaling 45 km(2) were staked over the new extension of the Hess Offset dyke and are now
included as part of Wallbridge's Ermatinger property. Also, Wallbridge
has acquired an Option to Purchase a 100% interest in 56 Xstrata Nickel
claims that cover over 100 km(2) and which comprise the new Cartier property. The new Cartier property
covers a possible 4 km projection of the Hess Offset dyke as well as
several anomalous airborne electromagnetic ('EM') conductors elsewhere
on the property.

Currently, Wallbridge is completing a ground-based deep-penetrating EM
survey over the 18 km of the Hess Offset dyke that was previously known
and mapped in detail this past summer. This is being completed on the
joint venture properties with Champion Bear Resources Ltd. and Pele
Mountain Resources Inc.

Most of the new extent of the dyke is on 100%-owned Wallbridge claims.
An early spring 2011 airborne magnetic and EM survey is being planned
for this portion of the dyke to identify conductive drill targets and
to support more detailed mapping of the dyke during the 2011 field
season. Also planned for spring/summer 2011 is a program to drill the
newly identified geophysical targets. Ground-based geophysics to test
this new extent of the dyke to depth is anticipated for the winter of
2012, as it will require frozen winter conditions.

A map showing the Hess Offset dyke and Wallbridge land position can be
found included in this press release or on the Company website at www.wallbridgemining.com.

Nickel, copper and platinum group metal mineralization in the offset
dykes in Sudbury represent over one third of the Ni-Cu-PGE ore mined in
Sudbury over the past 125 years. Well known examples of offset deposits
occur at Vale's Totten and Copper Cliff North and South mines, Quadra
FNX's recent Victoria discovery and Podolsky mine, and Wallbridge's
recent discovery beneath the Milnet mine on its Parkin Offset Joint
Venture with Impala Platinum Holdings Limited. These types of deposits
generally form massive accumulations of very conductive sulphide and
are ideal for using EM geophysical techniques for identifying drill
targets.

According to the terms of the Option to Purchase Agreement with Xstrata,
Wallbridge may acquire a 100% interest in the Cartier property by
making payments totalling $150,000 including $50,000 on signing and
$50,000 on or before each of the first and second anniversaries of the
Agreement. Xstrata will retain a right of first refusal to designate
the facilities at which products from the property will be processed
along commercially competitive terms. Xstrata will also retain a right
to buy back to a 60% interest at the feasibility stage in any deposit
which contains in excess of US$750 million of contained metal value by
incurring 200% of Wallbridge's total expenditures made after January 1,
2011, to the date that Xstrata exercised the Buy Back.

The Qualified Person responsible for the technical content of this press
release is Mark Croteau, P.Geo, Manager of Operations 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 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 Vale, 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 and
recently announced a joint venture with Antofagasta plc, which will see
the project financed through feasibility. Wallbridge also holds a
portfolio of porphyry copper-gold-molybdenum properties in southwestern
BC which is currently being spun-out into a new company, Miocene Metals
Limited, which was formed to finance the exploration of these
properties.

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.

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