Callinan Mines Limited
TSX VENTURE : CAA

Callinan Mines Limited

January 14, 2008 15:29 ET

Callinan Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.

Callinan Mines Ltd., pursuant to its stock option plan and subject to regulatory approval, has granted incentive options to directors, officers, employees and consultants for the purchase of a total of 900,000 common shares in its capital. The options are exercisable on or before January 14, 2013, at the price of $1.45 cents per share.

Mike Muzylowski, President and CEO

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of private placements and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated private placements and the timing and amount of expenditures. Callinan does not assume the obligation to update any forward-looking statement.

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

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