TORONTO, July 20 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) announced today that Alar Soever, President of the Company has also been
appointed as Chief Executive Officer. Warren Holmes, a director of Wallbridge
since 2002, has been appointed Chairman of the Board of Directors. The new
appointments follow upon the recent untimely passing of CEO and Chairman,
Risto Laamanen.
Wallbridge Mining will continue to focus on its Sudbury copper-nickel and
PGE projects and its Rogers Creek porphyry copper-gold-molybdenum property in
British Columbia. The Company currently has two drills turning in Sudbury as
part of its 8,900 metres summer drilling program on joint venture projects
with Impala Platinum Holdings Limited and Lonmin Plc (see Press Release dated
July 2, 2009). At Rogers Creek, the Induced Polarization survey currently
underway has identified a large chargeability anomaly beneath an area of
surface copper-gold mineralization. (see Press Release dated July 10, 2009).
Mr. Alar Soever has 30 years of experience in the mineral exploration
industry and has been the President of Wallbridge since 2003. Prior to 2003,
Wallbridge was one of his clients at Watts, Griffis & McOuat Ltd. where he was
responsible for their copper-nickel-PGE practice. Mr. Soever has been involved
with Wallbridge since the early stages of exploration efforts in Sudbury and
will continue to implement the Company's vision to discover the next large
nickel-copper-platinum group deposit in Sudbury, while not ignoring other
opportunities such as Wallbridge's new Rogers Creek copper-gold discovery in
British Columbia. Mr. Soever was also instrumental in the spin-out of
Wallbridge's Minnesota copper-nickel-platinum group properties into Duluth
Metals (TSX:DM), in which Wallbridge currently retains a 12.4% ownership
position.
Mr. W. Warren Holmes is a mining engineer (P. Eng), and holds a MBA. He
is Chairman of Nuinsco Resources Limited and Victory Nickel Inc, Vice-Chairman
of Atlanta Gold Inc, a Director of HudBay Minerals Inc, a Director of Foraco
International SA, and a Director of several other private corporations. He was
previously with Noranda Inc (1964-1986), and Falconbridge Limited (1986-2002)
latterly as Senior Vice President of Canadian Mining Operations. He has also
been the President of the Canadian Institute of Mining, Metallurgy, and
Petroleum, Chairman of the Ontario Mining Association, and Co Chair of the
Ontario Mineral Industry Cluster Council.
About Wallbridge Mining
Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") 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 Inco, 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. Wallbridge is also exploring a large porphyry copper-gold-
molybdenum property in south-western British Columbia and has interests in
copper-zinc and gold properties in north-eastern Ontario.
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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