Wallbridge Mining Announces Extension of Expiry Term of Warrants

TORONTO, June 18 /CNW/ - Wallbridge Mining Company Limited ("Wallbridge" or the "Company") (TSX: WM) is pleased to announce that it has received approval (the "TSX Approval") from the Toronto Stock Exchange (the "TSX") to extend the expiry date of certain warrants issued to one of its long time supporters and joint venture partner, global platinum producer Lonmin Plc. ("Lonmin").

On June 28, 2007, Wallbridge completed a private placement with Lonmin whereby Lonmin subscribed for 10,800,000 units (the "Units") of Wallbridge at $0.60 (Canadian) per Unit. Each Unit consisted of one common share and one-half of one common share purchase warrant. The 5,400,000 warrants (the "Warrants") acquired by Lonmin in connection with the June 2007 private placement are exercisable at a price of $1.00 per share and, prior to the TSX Approval, would have expired on June 28, 2010. As a result of the TSX Approval, the Warrants will now expire on December 28, 2011. As of the date hereof, none of the Warrants have been exercised.

Commenting on the TSX Approval, Alar Soever, the President and CEO of Wallbridge, stated "Since 2002, Wallbridge and Lonmin have enjoyed positive relations with one another that have translated into a number of strategic opportunities. Lonmin began its relationship with Wallbridge first as a joint venture partner and, later, as a significant supporter of Wallbridge through its shareholdings in the Company. The desire for Wallbridge to extend the expiry term of Lonmin's Warrants is reflective of this positive and evolving relationship with Lonmin and further cements the Company's and Lonmin's mutual desire to continue their dealings together well into the foreseeable future."

About Wallbridge

Wallbridge Mining Company Limited's primary focus is the exploration for platinum group element ("PGE"), nickel, and copper 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.

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. For Further Information 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.

SOURCE Wallbridge Mining Company Limited

For further information: For further information: Please visit the Company's website at www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar Soever, President and CEO, Tel: (705) 682-9297, Email: asoever@wallbridgemining.com; Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 369-1500 ext 222, Email: mstrazdins@wallbridgemining.com


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