Colombian Mines Corporation
TSX VENTURE : CMJ

Colombian Mines Corporation

October 09, 2009 07:30 ET

Colombian Mines Reports Favorable Gold Recoveries from Preliminary Metallurgical Test Work-Yarumalito Gold Porphyry, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2009) - Colombian Mines Corporation (TSX VENTURE:CMJ) ("Colombian Mines" or "the Company") is pleased to report positive metallurgical test results for the Yarumalito gold porphyry property in Colombia. These results are based upon direct cyanidation of porphyry and stockwork style gold mineralized material, and include gold recoveries of 90% for oxide, 80.6% for partially oxidized, and 50% for unoxidized coarse reject samples. These encouraging results suggest that both oxide and sulfide mineralization may be amenable to cost effective, conventional, heap leach extraction. This processing scenario, combined with the on-going, strong precious metals market, greatly enhances the viability of the bulk tonnage, porphyry gold exploration target at Yarumalito.

Property Overview

The 1,428 hectare Yarumalito property is situated in the Marmato mining district, where it hosts multiple epithermal and porphyry gold targets. The property lies within a broad, strongly mineralized, northwest trending structural corridor referred to as the Marmato fracture zone. The Company plans to ramp-up its exploration program at Yarumalito, with a focus on evaluating the La Escuela and Balastreras porphyry gold targets and associated halos of epithermal stockwork and sheeted-vein mineralization in the area.

Metallurgical Testing

The metallurgical test program was conducted on three separate composite samples representing oxidized, partially oxidized, and unoxidized mineralization taken from diamond drill core or channel sample coarse reject material. The samples were selected to characterize the metallurgical responses of low to moderate grade (0.5 to 1.0 g/t Au) porphyry and epithermal stockwork-sheeted vein styles of gold mineralization from the La Escuela - Balastreras prospect area.

McClelland Laboratories, Inc. of Sparks, Nevada conducted the metallurgical work, which consisted of 96 hour, bottle roll, cyanide leach tests. A summary of the test results are given below:

- 80.6% gold recovery from partially oxidized, porphyry mineralization,

- 90% gold recovery for oxidized, epithermal stockwork mineralization, and

- 50% gold recovery from unoxidized, epithermal stockwork-sheeted vein mineralization.

The test results indicate that the oxide stockwork and partially oxidized porphyry samples had essentially leached to extinction (i.e., near-100% recovery). However, the unoxidized stockwork sample, at 50% recovery, was still yielding gold at the 96 hour test termination. It is likely that longer leach cycles would result in higher recovery for the unoxidized material. McClelland's work also reported low to moderate cyanide and lime consumptions.

Conferences

The Company would also like to welcome interested parties to visit with us at booth 317 during the New Orleans Investment Conference this weekend (October 9-11). We will also be an exhibitor at the San Francisco Hard Assets Investment Conference November 21 and 22 (booth #221).

Mr. Robert G. Carrington, P.Geo., a Qualified Person as defined by National Instrument 43-101 and President of the Company, has reviewed and verified the technical information contained in this news release.

About Colombian Mines Corporation

Colombian Mines Corporation is focused on the acquisition, exploration and development of high quality mineral properties in Colombia with near to intermediate term production potential. Colombia is increasingly recognized as a highly prospective, yet under-explored country with excellent discovery potential. Further information can be found on our website at www.colombianmines.com.

Robert G. Carrington, President

Forward-Looking Statement

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Colombian Mines Corporation. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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