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2007
Kola Continues to Intersect Wide Zones of Nickel Mineralization at Souker
September 20, 2007
- HOLE CP07-04 INTERSECTS 166 METRES GRADING 0.31% Ni FROM SURFACE
- HOLE CP07-08 INTERSECTS 183.5 METRES GRADING 0.27% Ni
The mineralized intervals reported below are associated with varying degrees of disseminated to semi-massive sulphide mineralization (pentlandite, chalcopyrite, and pyrrhotite) within layered, medium to coarse grained peridotite and pyroxenite. The mineralized intervals reported below continue to demonstrate the bulk tonnage target potential at that would be amenable to open pit mining. The intervals reported below have been calculated using a Ni cut off grade (0.20% Ni) as opposed to the 0.25% Ni cut off grade that was used to calculate the mineralized intervals reported in our previous news release (See August 14, 2007 Press Release). The hosting stratigraphy dips variably to the south and although holes have been oriented to intersect the mineralized horizon as optimally as possible, the intervals reported below may not represent true width. . Drill hole CP07-02 drilled in the southwest corner of the property did not return any significant results. See attached map for drill hole collar locations.
| Drill Hole | From (m) | To (m) | Interval (m) | Ni (%) | Cu (%) |
| CP07-01 | 21 | 23 | 2 | 0.28 | 0.10 |
| CP07-04 | 2.5 | 168.5 | 166 | 0.31 | 0.06 |
| including | 89.5 | 104.5 | 15 | 0.58 | 0.18 |
| CP07-08 | 21 | 204.5 | 183.5 | 0.27 | 0.04 |
| CP07-12 | 3.6 | 48.95 | 43.4 | 0.34 | 0.08 |
| CP07-13 | 2.2 | 84.5* | 81.3 | 0.27 | 0.04 |
The 2007 drill program was initially laid out to achieve a maximum 100 metre by 100 metre ore intercept spacing in order to verify and upgrade the historic Soviet resource estimate from a C2 to C1 category (See May 14, 2007 Press Release). The 22 holes completed to date, range from 50 metres to 287.7 metres in depth, for a total of 2,810 metres. The drill data from the 2007 drill campaign will also be used to convert the historic Soviet resource into a NI43-101 compliant resource. All drill data to date from the Souker Deposit is being currently modeled in house and statistics from analytical results will be used to determine what intercept spacing will be required for classifying JORC ("Australasian Joint Ore Reserves Committee") defined resource categories.
All of the drilling is being completed with NQ sized core using a Longyear LF 70 drill rig. Recoveries to date have been excellent. The drill core is being logged, photographed, sawn, sampled, and core samples are being prepared at the Central Kola Expedition laboratory in Monchegorsk. Assaying is being completed by the Kola Geological Information Laboratory Centre in Apatity. This lab is certified under GOST R ISO/MEK 17025-2000. It is also certified by the VIMS Institute in Moscow and is subject to annual inspections under that certification. Kola has retained SRK Consulting to conduct an independent audit of Kola Geological Information Laboratory and effective immediately, a full QA/QC program will be initiated on the Souker project. All of Kola's exploration programs are carried out under the supervision of the Bill Tafuri, P.Geol., the Company's Vice President of Exploration and a "Qualified Person" for the purposes of NI 43-101.
Kola is pleased to announce that it has retained the CP Capital Group Ltd. ("CP Capital") to provide investor relations services to Kola. Cary Pinkowski, a director of Kola, is the principal of CP Capital. Also involved in CP Capital is David Matousek and Carson Seabolt. Kola will pay CP Capital a monthly fee of $5,000 and has retained CP Capital on a month-to-month basis.
Kola Mining Corp.'s headquarters is in Vancouver, Canada, with exploration offices in Bishkek, Kyrgyzstan and Almaty, Kazakhstan and Apatity, Russia. The company is actively engaged in the exploration and acquisition of precious and base metal projects in Central Asia. Kola is listed for trading on the TSX Venture Exchange under the symbol "CTM", on the Frankfurt Stock Exchange under the symbol "C8M" and on the OTCBB under the symbol "CTMHF".
To find out more about Kola Mining Corp., please visit the company website at www.kolamining.com.
On behalf of the Board of Directors of
KOLA MINING CORP.
"Douglas Turnbull"
_________________________________
Douglas Turnbull
President & C.E.O.
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
Forward Looking Statements. This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
