Found July 19, 2012 on Pro Football Zone:
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According to Jason La Canfora of CBSSports.com, the Pittsburgh Steelers and wide receiver Mike Wallace are making progress on a new contract.

“The sides have remained in close contact and continued their dialogue and are expected to maintain a steady pace with the start of training camp looming,” La Canfora reports, per CBSSports.com. “There has been some movement and though no deal is imminent and work remains to be done, the situation has certainly improved since early this offseason. Both sides are motivated to complete a long-term contract.”

There’s no real deadline for the Steelers to get Wallace signed.  I’d expect something to get done either before or during the regular season.

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