Kola Appoints Leonid Oparin and Brian McEwen to the Board of Directors

August 7, 2007
Vancouver, B.C., August 7, 2007 - Kola Mining Corp. ("Kola") Board of Directors is pleased to announce that it has appointed Mr. Leonid Oparin and Mr. Brian McEwen, P. Geol to the board of directors.

Mr. Oparin has over 30 years of mine development and construction experience in Russia after graduating from the Leningrad Mining Institute in 1971, as a Mining surveyor. He is currently the Head of the Mining and Geological department and Advisor to the President of JSC Alrosa. From 1973 to 2002, Mr. Oparin worked for Norilsk Nickel (OTC:NILSY, LSE:MNOD, RTS:GMKN), most recently as head of the Mineral Resources Department and Director of Mining Production Development Projects. During his earlier years with Norilsk, he held positions as Branch Mining Surveyor, Head of the Construction Department and Deputy Head of the Construction Division. Subject to regulatory and shareholder approval, Mr. Oparin has been granted an option to purchase up to 100,000 shares of Kola at $1.20 for a period of five years.

Mr. McEwen has over 25 years of mineral exploration and production experience including project management, economic evaluation and mine planning for various mining concerns throughout the world. Mr. McEwen was the former manager of mineral projects for Norwest Corporation. Prior to that, Mr. McEwen consulted for AMEC Inc. as their Manager of Geology for Latin America, and was involved in numerous deposit evaluations including the Spence deposit (BHP Billiton), the Lomas Bayas deposit (Falconbridge), and the Quebrada Blanca deposit (Teck/Cominco). Mr. McEwen is currently the President of Buffalo Gold Ltd. and Dynasty Gold Corp. Brian is a Professional Geoscientist, registered with the Association of Professional Engineers, Geologists, and Geophysicists of Alberta

Concurrent with these appointments, Kola announces the resignation of Gregory G. Crowe and Lindsay Bottomer from the board. Kola's Board and management wish to thank Mr. Bottomer and Mr. Crowe for their contributions during the creation and initial growth of the company. Both Mr. Crowe and Mr. Bottomer will continue to be involved with the company in a consulting role.

"We are delighted to have Mr. Oparin join the Kola team and also pleased that Mr. McEwen has agreed to play a more significant role in the company" states Douglas Turnbull, Kola's President and CEO. "Mr. Oparin brings a strong mining business background in Russia to the company and has an extensive network of contacts in the Russian Mining Community. As we push forward to feasibility with the Souker Deposit, Mr. McEwen's experience and background in mine development will continue to be an important asset for the company. The combined experience of these two individuals will further enhance Kola's ability to develop opportunities that will be invaluable to the Company's future success."

Kola is listed for trading on the TSX Venture under the symbol "CTM", on the OTCBB under the symbol "CTMHF" and on the Frankfurt Exchange under the symbol "C8M". 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"

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Douglas Turnbull
President & C.E.O.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.