Wallbridge Mining Discovers Zones of Platinum Group Enrichment on the Pele Property

    TORONTO, Dec. 19 /CNW/ - Wallbridge Mining Company Limited (TSX: WM, FWB:
WC7) today announced that work on its Pele Mountain Resources (TSX VENTURE:
GEM) property has discovered extensive zones of platinum group element
("PGE"), chlorine and pathfinder element enrichment within favourable rocks
known as Sudbury Breccia, which occur within an eight kilometre long belt on
the Property. Exploration work has also extended the second Pele Offset Dyke,
discovered in September 2006, approximately three kilometres northward to near
the northern property boundary. Sudbury Breccia rocks showing elevated
chlorine, PGE, copper, nickel and silver +/- arsenic, bismuth and tellurium
levels are known host to copper-nickel-PGE orebodies in Sudbury. The Pele
Property is located in the northern sector of the Sudbury Mining Camp.
    "We are extremely pleased to have located such an extensive area of these
favourable host rocks on what is a very large grass roots exploration
property. Linecutting is currently underway and with an IP geophysical survey
contracted to begin in January, we expect to be drill testing targets by the
end of the first quarter of 2008," commented Alar Soever, President of
    The Sudbury Breccia belt has been mapped across the southern third of the
property over a strike length of approximately 8 kilometres and within a
corridor up to two kilometres wide. (A detailed property map can be viewed on
our web site at www.wallbridgemining.com under News Releases.) Sampling of
breccias has discovered discrete zones that have been altered, are highly
enriched in chlorine, and contain weakly anomalous concentrations of platinum
and palladium as well as pathfinder elements (As, Bi, Te). These favourable
rocks are indicative of the passage of mineralizing fluids similar to breccia
rocks hosting copper-PGE mineralization at Xstrata's Strathcona Mine and FNX's
McCreedy West Mine in the Levack Trough about 8 kilometres to the south.
    Mapping on the eastern portion of the property late in the season
extended the second Pele Offset Dyke about three kilometres northward to its
termination just south of the northern property boundary. This dyke was found
late in the 2006 exploration season (see press release dated November 23,
2006) and is located approximately one kilometre west of the main Pele Offset
Dyke discovered by prospectors in 2005.
    A 120 line-kilometre grid is being established across the southern third
of the property to further explore the belt of Sudbury Breccia by an induced
polarization survey that is to commence after the New Year and a detailed
mapping campaign that is slated to begin in May 2008. Drilling of an isolated
two-line AeroTEM III anomaly situated near one of the discrete zones of
Chlorine, PGE and pathfinder element enrichments is scheduled to begin before
year's end.
    Samples were prepared at ALS Chemex Ltd. Laboratories in Sudbury and then
shipped to their analytical facilities in Vancouver. Samples were analyzed for
Au, Pt, and Pd by standard lead collection fire assay fusion followed by a
combination of inductively coupled plasma mass spectrometry (ICP-MS) and
atomic emission spectrometry (ICP-AES). Samples were also analyzed for 33 base
metal and trace elements using a four acid (HNO3-HCIO4-HF and HCI) near total
digestion and a combination of ICP-MS and ICP-AES.
    The Qualified Person responsible for the technical content of this press
release is Bruce Jago, PhD. P.Geo, Vice-President, Exploration of Wallbridge
Mining Company Limited.

    About Wallbridge Mining

    Wallbridge Mining Company Limited explores for and develops nickel,
copper and platinum group element ("PGE") deposits. The Company's principal
properties are located in the Sudbury Basin in Ontario. The Sudbury area hosts
the world's largest concentration of nickel deposits and is currently the most
active mining camp in North America. Wallbridge also has a major shareholding
in Duluth Metals Limited, which has a significant property position 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.
    %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) 710-0646,
Email: mstrazdins@wallbridgemining.com

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