Miocene's Summer Program

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TORONTO, June 14, 2012 /CNW/ - Wallbridge Mining Company Limited (TSX: WM) today announced that it has reached agreement with Miocene Metals
Limited (TSX-V: MII) for a $1 million Line of Credit ("LOC"), which will be used to fund
Miocene's summer exploration program. Work will be focused on the
MacKenzie Property, where surface copper mineralization has been traced
over a 1.2 kilometre strike length. Objectives of Miocene's 2012
program are to obtain the first drill intercepts of the high-grade
mineralized structures which have been identified on surface and to
identify the intrusive source for this mineralization. Marz Kord,
President and CEO of Wallbridge stated, "This agreement is the best way
of ensuring the ability of Miocene to build shareholder value during
this extremely difficult period. As Miocene's major shareholder,
Wallbridge and its shareholders will also benefit from the success of
Miocene."


Commenting on the agreement with Wallbridge, Bruce Jago, President and
CEO of Miocene Metals stated, "We are pleased to have been able to
complete this arrangement with Wallbridge. It allows us to carry out a
significant summer program, without unduly diluting our shareholders
during this period of extremely low valuations for junior companies. We
are also continuing with our efforts to secure joint venture funding
for our Rogers Creek and Salal properties as well as raising additional
capital through the equity markets."


The Mackenzie property is located 80 kilometres to the northwest of
Pemberton BC and is one of Miocene Metals key copper-gold exploration
properties. As reported in a February 17, 2012 press release, the
MacKenzie property was increased in size 8-fold from 36.3 square
kilometres to 299.03 square kilometres. The property was increased in
size on the basis of mapping and sampling results in 2010 and 2011,
which suggested high-grade copper-gold surface exposures were related
to a buried copper-gold porphyry system, which will be the focus of
Miocene's 2012 exploration program.


Terms of the LOC with Miocene:


The LOC shall be in the principal amount of $1,000,000 and advanced in
monthly instalments based upon Miocene's monthly budgets. Principal
amounts advanced shall bear interest at the rate of 8% per annum
(calculated annually not in advance) on each principal amount advanced
calculated from the date of advance until repayment of such advance in
full. The LOC shall be repaid in full, including all interest accrued
thereon, on the earlier of March 31, 2013 or immediately upon receipt
of any joint venture financing or private placement financing, in
either case which results in net proceeds to Miocene of not less than
$1,250,000. Miocene shall provide a first charge on Miocene's two
properties known as Salal and MacKenzie together with a collateral
assignment of Miocene's Portable Assessment Credits ("PAC") net of
Miocene's 2013 PAC requirements as at December 31, 2012. Miocene
covenants that during the term of the LOC its working capital,
excluding the amounts advanced under the LOC, shall not be negative.
Should such working capital amount become negative during the term of
the LOC, the LOC and all interest accrued thereon shall immediately
become payable. The contractual provisions of this agreement shall be
interpreted and construed in accordance with the laws having
application in the Province of Ontario, Canada. The agreement is
subject to approval of those directors of each of Miocene and
Wallbridge who are not directors or officers of the other company. The
agreement is also subject to any approval which may be required from
the TSX Venture Exchange.


The Qualified Person responsible for the technical content of this press
release is Marz Kord, P. Eng., M. Sc., MBA, President & CEO of
Wallbridge Mining.




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 Company's website at http://www.wallbridgemining.com/">www.wallbridgemining.com, or contact:

Wallbridge Mining Company Limited

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

Linda Zubal, Director of Corporate Communications Tel: (705) 682-9297 ext. 263 Email: lzubal@wallbridgemining.com