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Kola Announces Results of Annual General Meeting

Vancouver, British Columbia - Kola Mining Corporation (“Kola Mining, the Company”) (Toronto TSXV: KM, Frankfurt: C8M) is pleased to announce that at the Company's Annual General Meeting of shareholders held on Friday, November 27, 2009, Messrs. Mikhail Yuryev, Cary Pinkowski, Nick DeMare, Grigory A. Aleksenko and Robert Goldsobel were elected as directors for the ensuing year.

All items put forth at the meeting were approved by the shareholders, including an ordinary resolution to amend the Company’s stock option plan to increase the number of shares issuable on the exercise of options under the plan by 6,823,800 shares, from 10,777,000 shares to 17,600,800 shares.

At a directors meeting held subsequent to the shareholders meeting the directors appointed Mr. Victor Tskhovrebov as President and Chief Executive Officer, Mr. Mikhail Yuryev as Chairman and Mr. Nick DeMare as Chief Financial Officer and Corporate Secretary of the Company.

For further information on Kola Mining, please visit the Company’s website at www.kolamining.com.

On behalf of the Board of Directors of

KOLA MINING CORP.

“Victor Tskhovrebov”                        
Victor Tskhovrebov
President & C.E.O.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Contact:

Kola Mining Corp.
604.694.1600
www.kolamining.com

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.