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TORONTO, April 2, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB: WC7) ("Wallbridge") is pleased to announce it has completed a non-brokered private
placement of 5,875,557 flow-through units of Wallbridge (each a "Flow-Through Unit") at $0.21
per Flow-Through Unit (the "Offering"), raising aggregate gross
proceeds of $1,233,867. Each Flow-Through Unit is comprised of (1)
flow-through common share of Wallbridge and one-half of one common
share purchase warrant (each whole warrant a "Warrant"). Each Warrant
will entitle the holder thereof to purchase one common share of
Wallbridge at a price of C$0.40 at any time prior to 5:00 p.m. (Toronto
time) on March 30, 2013.


Commenting on the Offering, Marz Kord, President of Wallbridge stated
"This placement provides us with additional funds to accelerate a very
active exploration program on our Canadian properties. We are very
pleased with the support of a new major institutional holder and our
other long term shareholders."


The gross proceeds raised from the issuance of the Flow-Through Units
will be used by Wallbridge to incur exploration expenditures on its
Canadian properties which will constitute "Canadian exploration
expenses" and "flow-through mining expenditures" (as defined in the
Income Tax Act (Canada)) which can be renounced to purchasers effective
for the 2012 taxation year.


A cash fee of 6% of the gross proceeds raised and 6% compensation
options was paid to Pope & Company Limited and Macquarie Private Wealth
Inc., being the finders used by Wallbridge in connection with the
Flow-Through Unit Offering. Each compensation option is exercisable
into a compensation unit (the "Compensation Units") at a price of $0.21
per Compensation Unit for a period ending on March 30, 2013 where each
Compensation Unit shall be comprised of (1) one non-flow-through common
share of Wallbridge and (2) one-half of one common share purchase
warrant (each whole warrant being hereinafter referred to as a
"Compensation Warrant"). Each Compensation Warrant will entitle the
Finder to purchase one common share of Wallbridge at a price of C$0.40
at any time prior to 5:00 p.m. (Toronto time) on March 30, 2013.


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, 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.




For further information:

Please visit the Wallbridge website at http://www.wallbridgemining.com/">www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited

Joshua Bailey, M.Sc., P.Geo Vice President Corporate Development Tel: (705) 682-9297 ext. 240 Email: jbailey@wallbridgemining.com