Wallbridge Mining Announces Closing of Private Placement

TORONTO, March 25 /CNW/ --
TORONTO, March 25 /CNW/ - Wallbridge Mining Company Limited ('Wallbridge' or the 'Company') (TSX:
WM) is pleased to announce it has completed a non-brokered private placement
of 3,000,000 flow-through common shares of the Company (each a
'Flow-Through Share') at $0.26 per share (the 'Offering') raising
aggregate gross proceeds of $780,000. The Offering was fully
subscribed.

Commenting on the Offering, Alar Soever, President and CEO of Wallbridge
stated 'We are very pleased to have added two new institutional
investors to our already broad shareholder base. This placement will be
used to fund the recently announced drilling at the Broken Hammer Zone
and a very active summer exploration program on our other Sudbury
properties'.

The gross proceeds raised from the issuance of the Flow-Through Shares
will be used by the Company to incur exploration expenditures on its
properties in Ontario 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 for the
2011 taxation year.

A cash fee of 6% of the gross proceeds raised was paid to Topleft
Securities Ltd., being the finder used by the Company in connection
with the Flow-Through Offering.

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 Pic 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.

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Please visit the Company's website at www.wallbridgemining.com, or contact: