Boulder Mining Corporation
TSX VENTURE : BDR

Boulder Mining Corporation

November 02, 2006 12:37 ET

Boulder Mining Corporation: Opal Acquires 500 Square Miles of Seismic Data in South Texas

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2006) - Opal Energy Inc., ("Opal"), a subsidiary of Boulder Mining Corporation, ("Boulder"), (TSX VENTURE:BDR), announces today that it is purchasing 20 existing 3-D seismic surveys in South Texas from Echo Geophysical Corporation. Stephen Hoover, Vice President of Geophysics for Opal estimates that when all of the survey selections have been finalized, the total acreage covered will be more than 500 square miles.

The surveys complement Opal's selected areas of interest in South Texas and will be used for: (1) prospect generation, (2) evaluation and quality control on 3rd party prospects, (3) regional geo-knowledge and (4) the location, design and planning of future Opal proprietary 3-D seismic surveys. A few of the Echo surveys will be merged with planned proprietary seismic surveys or other Opal surveys.

Boulder Mining Corporation - Opal Energy Inc.

Boulder Mining Corporation, through its U.S. subsidiary Opal Energy Inc., offers an aggressive, disciplined and results-oriented vehicle to invest in the U.S. Exploration and Production "E&P" sector with a particular focus on natural gas exploration targets in South Texas. The business strategy is to build asset value through the drill bit, growing a production platform upon which will be superimposed some remarkable, high-impact exploration opportunities. Drilling inventory will be continuously enhanced by the implementation of a series of proprietary 3-D seismic shoots. Opal has attracted funding partners for an initial US$16 million South Texas exploration package that calls for drilling 10 wells and completing a 75 sq. mi. seismic shoot over the next 9 to 12 months. Interpretation of the seismic shoot is ultimately expected to uncover dozens of new high-quality drilling prospects starting in Q3-2007.

Effective November 21 or so, Boulder intends to; change its name to Opal Energy Corp, request a new trading symbol and unveil its new website under the address www.opalenergy.ca.

On behalf of the Board of Directors

Boulder Mining Corporation

Ronald E. Oligney, Chief Executive Officer and Director


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

Contact Information