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TORONTO, Jan. 17, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX:WM) today announced that it had entered into an agreement (which is subject
to approval of the TSX) with the world's third largest platinum
producer Lonmin Plc ("Lonmin") whereby Lonmin will purchase 13,157,895
units ("Units") of Wallbridge at a price of C$0.19 (Canadian) per Unit which was calculated based on the 90 day
volume-weighted average price to December 13, 2011, being the date the
parties agreed upon the pricing for the transaction.


"This recent investment shows Lonmin's continued confidence and support
for our exploration work in Sudbury. The Sudbury Basin is the most
attractive target area in the world for the discovery of high grade
copper, nickel and platinum deposits," stated Alar Soever, CEO of
Wallbridge.


"The long term relationship with Lonmin since January 2002 demonstrates
that Lonmin continues to be not only a great Joint Venture partner, but
also a supportive shareholder of Wallbridge in our exploration work in
Sudbury," said Marz Kord, President of Wallbridge.


Albert Jamieson, CCO of Lonmin Plc said "We've been exploring for PGMs
with our Joint Venture partners in Sudbury Basin for nearly 10 years
and are now beginning to see the fruits of that hard work. We look
forward to progressing the projects in the coming year."


Each Unit is comprised of one common share in the capital of the
Corporation and one half common share purchase warrant (each whole
common share purchase warrant being hereinafter referred to as a
"Warrant"). Each Warrant entitles the holder to purchase one common
share in the capital of the Corporation at an exercise price of C$0.40 (Canadian) per whole common share for a period ending December 31, 2012. Lonmin had
previously acquired 10,800,000 common shares of Wallbridge in 2007.


Sixty percent of the proceeds will be used to advance exploration in the
Sudbury area.




About Wallbridge Mining




Wallbridge 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 and palladium
projects in mining friendly jurisdictions of North America, with a
particular focus in 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
advancing these by financing exploration through either joint ventures
or spin-out companies. Wallbridge currently has 48 mineral projects
ranging from grassroots exploration to pre-feasibility stage. 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 press release 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.




For further information:



Please visit the Company's website at http://www.wallbridgemining.com/">www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited
Josh Bailey, VP Corporate Development Tel: (705) 682-9297 x240 Email: jbailey@wallbridgemining.com Ron Poirier, Investor Relations Tel: (705) 682-9297 Email: rpoirier@wallbridgemining.com