Boulder Mining Corporation
TSX VENTURE : BDR

Boulder Mining Corporation

September 27, 2005 08:30 ET

Boulder Mining Corporation: Drilling Underway at Top Priority Tevrede Copper-Gold Targets

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 27, 2005) - John H. McAdam, President of Boulder Mining Corporation (TSX VENTURE:BDR) is pleased to report that a 3000 metre drill campaign is underway at the Tevrede Iron Oxide Copper Gold (IOCG) Project located in northwest Namibia. The drilling has commenced with one Reverse Circulation (RC) rig and a core rig will be added within the next two weeks. This is the second drill program at Tevrede and will be directed at two of the seven top priority targets identified so far at Tevrede. This program is funded by Springbok Resources Inc. (currently a private company) pursuant to an earn-in agreement. BAFEX Exploration (Pty) Ltd, a wholly owned operating subsidiary of Helio Resource Corp. (TSX VENTURE:HRC), is the Designated Contractor.

In the initial phase, 15 holes up to 450 m long will be drilled. The drilling will be focused primarily in the Andesite Area, comprising andesitic and rhyolitic volcanics, although two of the holes may be used to test two strong gravity anomalies hosted in granitic rocks to the south and west of the Andesite Area. Two years of fieldwork, which includes detailed gravity surveys and modeling, soil geochemistry, and Gradient Array and Pole-Dipole Induced Polarization (IP) surveys, combined with prior surface sampling and evolving geologic knowledge has lead to the refinement of the seven top priority targets. Details of the Andesite Area targets were presented in the Company's Press Release dated July 26, 2005. The Andesite area has not been drill tested before.

Presented on the Company's website at: www.bouldermining.com/news/index.php?mod=cnt&act=cnt&id=78 are vertical sections through the area showing the compilation of work performed to date. Many of the targets are coincident gravity, IP and geochemical anomalies. Previous grab sampling from the Andesite Area has yielded up to 9% copper and 2.3 grams per ton gold. Geophysical, geochemical and geologic evidence indicates that the two top priority Andesite Area targets are each in the order of 2.8 kilometres long.

A subsequent phase of drilling to follow early in 2006 will evaluate the three Azurite Hill targets, the Kamdesha target as well as the Gold Trend target. For specifics of these targets please see the Company's Press Release dated July 26, 2005. Boulder Mining's Qualified Person for this project is John McAdam, B.Sc., P.Eng.

Boulder Mining Corporation has the right to earn a 100% interest subject to a 3% royalty interest in the Tevrede Project from Helio Resource Corp (TSX VENTURE:HRC). In turn, the Company has granted Springbok Resources Inc. the right to earn a 70% interest in the Tevrede Project by incurring expenditures of $9 million. Boulder Mining is also acquiring a 100% interest in the Indian River Gold Property from Western Prospector Group (TSX VENTURE:WNP).

On behalf of the Board of Directors

Boulder Mining Corporation

John H. McAdam, President and Director


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