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

Wallbridge.

    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: Please visit the Company's website at

www.wallbridgemining.com, or contact: Wallbridge Mining Company Limited, Alar

Soever, President, Tel: (705) 682-9297, Email: [email protected];

Mara Strazdins, Vice-President, Investor Relations, Tel: (416) 710-0646,

Email: [email protected]

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