Wallbridge Mining Announces Private Placement Financing

    TORONTO, April 28 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) (the "Corporation") announced that it intends to complete a non-brokered
private placement for an aggregate of 7,500,000 units in the capital of the
Corporation (the "Units") at $0.10 (Canadian) per Unit raising aggregate
proceeds of $750,000 (the "Offering").
    The Units will be sold at $0.10 (Canadian) per Unit with each Unit being
comprised of one common share and one-half of one common share purchase
warrant. Each whole warrant will entitle the holder thereof to purchase one
additional common share of the Corporation at an exercise price of $0.20
(Canadian) per share for 2 years from the date of closing. The Corporation may
pay a finder's fee of up to 7% of the gross proceeds.
    Commenting on the proposed placement Alar Soever, President of Wallbridge
stated, "This placement is in keeping with our philosophy of tailoring the
size of placements to our immediate needs in order to minimize dilution, while
still maintaining an active exploration program, during this period of
relatively low valuations in the junior mining sector."

    About Wallbridge Mining Company Limited

    Wallbridge Mining Company Limited's primary focus is the exploration of
nickel, copper and platinum group element ("PGE") 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. Wallbridge is also exploring a large porphyry
copper-gold-molybdenum property in south-western British Columbia and has
interests in copper-zinc and gold properties in northeastern Ontario.

    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.

    %SEDAR: 00010252E

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, 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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