Wallbridge Mining Co. Ltd. · TSX:WM
Wallbridge Mining — Investor Presentation (July 2010)
56 slides from Wallbridge Mining's investor presentation, July 2010
Slide 1: Wallbridge Update July 2010
(, WALLBRIDGE July 2010
Slide 2: Cautionary and Forward Looking Statement
Cautionary and Forward Lookingg Statement No regulatory authority has approved or disapproved the information contained in this presentation. This presentation includes certain statements that may be deemed “forward- l ki g statements”. looking t t t ” All statements t t t in i this thi presentation
Slide 3: Wallbridge Mission
Wallbridge Mission • Founded to explore for nickel- copper-PGEs in North America • Exploring in Sudbury an established under-explored mining camp • A portfolio of copper-gold- molybdenum porphyry properties in British Columbia beingg spun- p out into Miocene Metals Limited • Invested in the Duluth C
Slide 4: Wallbridge asset structure: Sudbury, Duluth Metals, Miocene Metals
DME Z4 WALLBRIDGE}} |! \y Duluth Metals MINING COMPANY LIMITED . f Fi \ Ni-Cu-PGE 12,283,921 shares Miocene Metals British Columbia Sudbury Cu-Au-Mo >1300 square kms ~12.8% (Jan 2010) | Ni-Cu-PGE >650 square kms Crowflight JV -Broken -Trill -Frost Lk. -Hess CBA -Parkin Hammer -Skynner -Wisner -Parki
Slide 5: Peer Group Comparison
Percent Incrrease (Decrease) in Stock Price -100% -50% 0% 50% 100% 150% 200% 250% 300% 350% 400% 30/09/2005 30/12/2005 31/03/2006 30/06/2006 30/09/2006 30/12/2006 31/03/2007 01/07/2007 30/09/2007 30/12/2007 31/03/2008 30/06/2008 29/09/2008 30/12/2008 31/03/2009 30/06/2009 30/09/2009 30/12/2009 31/03
Slide 6: Financial Overview (July 9, 2010)
Financial Overview (July 9, 2010) Market Capitalization $22.0 M Shares Issued and Outstanding 126.2 M – Options (average price $0.24 $0 24 ) 10 6 M 10.6 – Warrants (expiring 2010-2011) 12.4 M • 6,950,000 @ $1.00 • 5,431,250 @ $0.31 – Fully Diluted 149.2 M Share Price $0.16 • 52 week range $0.08 $0 0
Slide 7: Potential for Price Appreciation
Potential for Price Appreciation 1. Immediate Exploration Upside in Sudbury 2. Potential for one or more major discoveries in new porphyry belt in British Columbia through Miocene Metals 3 Appreciation in value of Duluth Metals holding 3. as Antofagasta JV advances project 7
Slide 8: Sudbury Exploration
Sudbury Explorati LBRIDGE COMPANY LIMITED CROWFLIGHT ia cpa PARKIN GEOLOGY HEI sesieyer onsets Sudbury Igneous Complex Contact MILNET. MAP SYMBOLS banien, Operating Mines 9 Footval Wisner ofineiae ive Centatt wishin _WALLORIDGE ae > ae BOWELL’ (ure v@ 7 PELE La oe oS i) “de ( orrser BROKEN HAMMER PA
Slide 9: Wallbridge In Sudbury
Wallbridge In Sudbury • Large land position over 650 square kilometres • History of finding new mineralization • Strong JV partners: Lonmin Plc. Impala Platinum Vale Inco Xstrata Nickel 9
Slide 10: Sudbury Exploration
Sudbury Exploration • New discovery (Milnet 1500 Zone) on Parkin Offset Dyke 4900 metres of drilling planned for 2010 Dyke, • $1.0 million 2010 SCJV program with Lonmin Plc to test targets on the Trill Offset dyke and on the Skynner Lake Property underway • Broken Hammer Resource Resource, bulk samp
Slide 11: Sudbury Exploration
Sudbury Exploration LBRIDGE ( COMPANY LIMITED GEOLOGY [EEE suntayer/ oftsers Sudbury Igneous Complex Contact MAP SYMBOLS (L cpetatina Wines FF retneion/ is trod EM cevacl ‘CASCADEN, y OFFSET DYKE PARKIN OFFSET BROKEN DYKE cba paRuan HAMMER OT oF a | Ae. WISNER % L. cli we oe te } Signer wey ‘BABKEN
Slide 12: Parkin – Impala JV
Parkin – Impala JV • JV signed with Impala Platinum in August 2008 • Impala can earn 50% by spending $5M over 3 years • Can increase to 65% by funding through to production (WM portion on loan basis payable from production) 12
Slide 13: Parkin Milnet Property
Parkin Milnet Property • Covers 9.4 km of Parkin Offset dyke • Parkin North and South Zones – 291,000 t of 0.70% Cu, 0.65% Ni and 1.65 g/t TPM • Milnet Mine Reported p Production – 157,130 t of 1.54% Ni, 1.49% Cu, 5.56 g/t TPM 13
Slide 14: Current Drilling
WALLBRIDGE Wainiigicomany cimrreo Parkin Offset Dyke Plan View Showing Long Section Location and Drillholes WMM-005 WMM-010 & WMM-014 Current Drilling February 0,2010 WALLBRIDGE Wigleg commany canted Past Producing Milnet Parkin Offset Dyke Mine Longitudinal Section Reportedly Produced fF 157,130 to
Slide 15: Milnet Conductor
Milnet Conductor CURRENTLY DRILLING 15
Slide 16: Extending the Zone
Extending the Zone 16
Slide 17: Comparison with Copper Cliff Offset
Comparison with Copper Cliff Offset 17
Slide 18: East Range – Amy Lake PGE Zone
East Range – Amy Lake PGE Zone Skynner Lake Podolsky Property Whistle Norman Deep 2 km Capreol JV Frost Lake Property Amy Lake PGE Capre 3000 PGE Capre Lake Victor East Property Victor Nickel Rim South 18
Slide 19: Broken Hammer Deposit
Broken Hammer Deposit •Grass roots discovery by Wallbridge •Inferred Resource Estimate by Roscoe Postle Associates •251,000 tonnes at a grade of 3 3.80 80 g TPM/t (1.56 g/t Pd, 1.62 g/t Pt, and 0.61 g/t Au), 1.00% copper, and 0.10% nickel •Acquired minority interest from JV partner Xstrata Nickel, W
Slide 20: SCJV with Lonmin Plc
SCJV with Lonmin Plc • Covers seven properties around the basin • Lonmin must spend US$1M per year to earn 50% interest in a property at resource stage • Can increase interest to 65% by funding thru feasibility study and securing WM portion of funding to production • 2010 Program Underway 20
Slide 21: Skynner Lake SCJV Property
Skynner Lake SCJV Property • Close to FNX’s Podolsky Mine • Structures focusing WSK-014 potential ore-related fluids • High exploration potential • Shallow exploration history • Focus for 2010 are two Amy Lake PGE off-hole conductors in WSK-014, at 240m and 600 m depth 21
Slide 22: Trill Property
ea Trill Property Toll offset Oyke Legend Tatropery 2009 Drill Holes x ) 2008 Drill Holes Structure Interpretation} using Titan Quartz Diorite Dyke Sulphide Lens *~ Structure 0.75m In QMON at contact 0.318 g/t Au+Pt+Pd 0.27 g/t Ag 0.0401% Ni 0.0425% Cu :] Massive Sulphide Lens Average Grade: 7.775 g
Slide 23: DM : TSX
DM : TSX www.duluthmetals.com 23
Slide 24: Duluth Metals Limited (DM:TSX) Building Value for WM shareholders
Duluth Metals Limited (DM:TSX) B ildi g Value Building V l for f WM shareholders h h ld • Duluth Metals was created as a spin out of WM Minnesota properties in November 2005 • WM shareholders got 1 share off Duluth for f every 4 shares of WM held (11.8 M shares) • Wallbridge W llb idg received i d 1
Slide 25: Antofagasta Joint Venture
Antofagasta Joint Venture • Duluth is a well financed company which has defined a large resource and recently announced a joint venture with one of the world’s largest copper pproducers,, Antofagasta g pplc • As part of the joint venture there was a private placement, which triggered Wallbridge’s ex
Slide 26: NI 43-101 Resource Estimate
NI 43-101 Resource Estimate Cut-Off TPM Cu Eq Tonnes Cu (%) Ni (%) Grade (g/t) (%) Indicated 1.0% Cu Eq* 550.0 M 0.639 0.200 0.660 1.51 Inferred 1.0% Cu Eq* 273.8 M 0.632 0.207 0.685 1.53 NI 43-101 Estimate by Scott Wilson RPA as per October 26, 2009 press release Scott Wilson RPA estimated the Mine
Slide 27: Contained Metals in Expanded Nokomis Resource
Contained Metals in Expanded Nokomis Resource* Metal Indicated Inferred C Copper 7 75 Billi 7.75 Billion lb lbs. 3 82 Billi 3.82 Billion lb lbs. Base Nickel 2.43 Billion lbs. 1.25 Billion lbs. Cobalt 121 26 Million lbs 121.26 lbs. 60.37 60 37 Million lbs lbs. Platinum 3.11 Million ozs. 1.63 Million
Slide 28: Contained Metal in Important Camps/Deposits
Contained Metal in Important C Camps/Deposits /D it 28
Slide 29: Antofagasta JV
ce Antofagasta JV Brings Antofagasta, a US $16 billion market cap major global mining partner with proven expertise in planning, building and operating large mining projects Provides funding and financing commitments of up to US $227 million to advance Nokomis, one of the world’s largest undeveloped
Slide 30: Duluth Metals Investment Summary
Duluth Metals Investment Summary • Currently Duluth Metals trades in the $1.50 range valuingg Wallbridge’s g 12.3M shares at about $18 M • Current DM share pprice represents p onlyy $0.01 ((one cent) per pound of copper equivalent in Indicated Resource • At present is extremely under-valued • Remain
Slide 31: Building Value
Building Value Wallbridge Market Capitalization Value of Duluth Shares Value Attributed to Other Assets $60 000 000 $60,000,000 $55,000,000 $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5 000 000 $5,000,000 $0 30/09/05 30/12/05 30/03/06
Slide 32: New Spin-out of WM BC Properties
New Spin- S -out off WM BC Spin C Properties 32
Slide 33: Miocene Metals
Miocene Metals • Modeled after high successful spin-out of Wallbridge’s Minnesota Properties into Duluth Metals Limited (DM:TSX) • Wallbridge W llb idg shareholders h h ld received i d1S Special i lWWarrantt off Mi Miocene M Metals t l ffor every 6 shares h off Wallbridge W llb idg held as of April
Slide 34: Duluth Spin-Out Model
Percent Incrrease (Decrease) in n Stock Price -100% -50% 0% 50% 100% 150% 200% 250% 300% 350% 400% 30/09/2005 3 30/12/2005 3 31/03/2006 3 30/06/2006 3 Seed Financing 30/09/2006 3 Initial Resource 30/12/2006 3 31/03/2007 3 IPO 01/07/2007 0 30/09/2007 3 30/12/2007 3 Second Private Financing 31/03/2008
Slide 35: Wallbridge in BC
Wallbridge in BC • Started with acquisition of Rogers Creek property in early 2008 • 2008/2009 work at Rogers Creek identifies large mineralized system • Regional R gi l compilation il ti id identifies tifi a whole h l belt b lt off similar i il age g intrusions, i t i which have never been systemat
Slide 36: Cascade Magmatic Arc, Southwest British Columbia
Cascade Magmatic Arc, Southwest British Columbia • Rogers Creek • Salal • Mackenzie • Shulaps • Mount Barr • Custer Ridge • Sunshine 36
Slide 37: Age of Cascade Magmatic Arc
M Cascade Magmatic WALELBRIDGE MINING COMPANY CEMTT ED Age of Cascade Magmatic Arc = Billion Pounds Molybdenum Million Ounces Gold Billion Pounds Copper 100 125 150 175 200 225 250 275 300 325 350 375 400 425 450 475 500 »>500 Age (Millions of Years) (Data from Singer et al. USGS Open File 2008-1155
Slide 38: Age of Largest Porphyries
Age of Largest Porphyries Source: Hollings, Cooke, and Walshe: THE CHARACTERISTICS, DISTRIBUTION AND CONTROLS OF GIANT PORPHYRY COPPER DEPOSITS 38
Slide 39: Rogers Creek
Rogers Creek @Port Hardy. Rogers Creek Property, British Columbia Location Map Site Location City Parks and Protected Areas x @Cache Cree —@Lillocet : S @ Pemberton Le ’ @Lytton _} -|f a Rogers Campbell River bCreek eas. fe » Nets &\] Property _ @Courtenay. § ve @ Merritt ‘ @Princeton: CANADA kilome
Slide 40: Introduction
Introduction • Acquisition completed February 2008 • Airborne magnetics and summer 2008 sampling program defined zones of alteration and scattered gold-copper mineralization over a 6 km by 2 km area • Initial sampling results returned up to 23.1 g Au/t in grab samples and up to 2.5 g Au/t in streams
Slide 41: Surface Exploration
Surface Exploration 2007 Discovery 1 2 km 2 3 41
Slide 42: Deposit Model (after Corbett)
Deposit Model (after Corbett) 42
Slide 43: 2009 Drilling
rilling Rogers Creek Property 2009 Drilling Mineralized Intersections legend Scattered Cu-Au mineraliza n over 120 m from 598 to es include 0.16% Cu, * Including 0.53 g/t Au over nd O205 ai Auouer Lem 16m from 61 629m. © Including 4.24 g/t Au over Propytitic Alteration the 1.5 m from 627.5 to Pervas
Slide 44: Rogers Creek – IP Results and Drilling
Rogers Creek – IP Results and Drilling 44
Slide 45: BC Regional – Miocene Porphyry Belt
BC Regional – Miocene Porphyry Belt • The discovery of the large mineralized system at g Creek,, where no mineralization was Rogers previously known, as well as; • Recognition that there was a whole belt of similar Miocene age intrusions that had never been systematically explored; and, and • The fa
Slide 46: Cascade Magmatic Arc, SW British Columbia
Cascade Magmatic Arc, SW British Columbia • Rogers Creek • Salal • MacKenzie • Shulaps • Mount Barr • Custer Ridge • Sunshine 46
Slide 47: Northern Properties
5635000 mN 5640000 mN 5645000 mN 5630000 mN 6.10m Chip Samples 0.33 % MoS2 Grab Sample 1.39 % MoS2 0 : JUC 7 465000 mE 470000 mE 475000.mE 489000 me 485000 mE 490000 mE ° | C . d ° CN Chip Samples Grab Samples 4 Miocene Metals Limited | 200m 457%Cu 6.04% Cu008 g/t AU Hf 100m 2.16%Cu, 13.10 % Cu, 0.1
Slide 48: Salal : Mo
Salal : Mo • 115.2 square km’s • Historical stream, soil and rock chip surveys • Numerous Mo occurrences along 15 km crescent-shaped trend • Distributed along an internal intrusive contact (Climax Mo model) • Historical drilling but fragmented record • Recent Paget g sample p returned 0.86% Mo and 8
Slide 49: Salal : Mo
Salal : Mo • Stream sediment results using %ile thresholds based on BC government dataset • Strongest Mo anomaly in entire BC dataset 49
Slide 50: Salal : Mo
Salal : Mo Gossanous Mineralized Zone Gossanous Mineralized Exposed in Creek Valley Quartz-Molybdenite Stockwork 50
Slide 51: White Cross: Mo
White Cross: Mo High grade quartz-molybdenite veins and vein stockworks 51
Slide 52: MacKenzie: Cu-Au
MacKenzie: Cu- Cu-Au • 34.8 square km’s • Vendor had been prospecting since 2003 and discovered widespread copper and gold showings over several km2 • No historic work recorded • No government record of Mi Miocene-aged d intrusion i t i • No drilling or geophysics • Property optioned February 2010 5
Slide 53: MacKenzie: Cu-Au
MacKenzie: Cu- Cu-Au MACKENZIE OPTION: CHIP AND SELECTED GRAB SAMPLES Sample Cu % Mo % Au ppm Ag ppm Type Description SC1 4.57 0.008 0.055 2.9 2 m chip Aggregate from 0.2-2m, km-long structure w/ CP and Malachite. SC2 2.16 0.040 0.297 27.5 1 m chip Quartz vein breccia in gossanous shear zone (320/20
Slide 54: MacKenzie: Cu-Au
MacKenzie: Cu- Cu-Au M l hit andd chrysocolla Malachite h ll mineralization i li ti adjacent dj t to t Cu C mineralized i li d structure t t 54
Slide 55: Miocene Metals
Miocene Metals •Participation, at a very early stage, in the exploration l ti off seven intrusions i t i in i a newlyl recognized, under-explored Miocene porphyry belt •Financial structure is modeled on highly successful f lD Duluth l h Metals M l spin-out i 55
Slide 56: The Wallbridge Opportunity
The Wallbridge Opportunity 1. Immediate Exploration Upside in Sudbury 2. Potential for one or more major discoveries in new porphyry belt in British Columbia through Miocene Metals 3. Appreciation pp in value of Duluth Metals holding as Antofagasta JV advances pproject j 56
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