Boulder Mining Corporation

Boulder Mining Corporation

August 15, 2005 08:30 ET

Boulder Mining Corporation: Significant Progress at Indian River Gold Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 15, 2005) - John H. McAdam, President of Boulder Mining Corporation (TSX VENTURE:BDR) is pleased to report on progress at the Indian River Gold Project located 30 km south of Dawson City, Yukon. The Indian River Gold Project has seen production of over 200,000 ounces of gold by various smaller operations over the last 20 years. The 21 km long property is mostly unmined and the Company has an active two pronged program of: 1) sampling and 2) test mining to assess the property. The Company's goal is to demonstrate the economic viability of the project and to become a gold producer. Photographs illustrating progress on the property are posted on the Company's website under the GALLERY section.

Work completed to date consists of:


- Opened and upgraded a camp to accommodate at least 12 people.

- Purchased, mobilized and installed a satellite based communications system including high speed internet and telephone.

- Opened up and repaired major mine road washouts.

- Built a road section to bypass steep Mud Hill.

- Purchased mobilized and installed a 55 foot long bridge over the Indian River.


- Purchased, mobilized to site and a built a sample test facility including pumps, bins, test plant, weigh scale, oversize capture bin, complete with sample plant tailings area.

- Purchased and mobilized to site a Hitachi 300 LC excavator (a 30 tonne machine) and Marooka tracked dump vehicle for excavating and transporting samples to the test plant setup.

- Purchased, mobilized and setup storage and sample processing facility.

- Purchased and mobilized to site an 8 X4 Deister Gold Concentrating Table.


- Laid out and has substantially stripped two large areas to test mine; the West End Cut and, the Rock Truck Cut located approximately 750 m further east. The stripping is being performed by contractors using 3 large bulldozers eg D9 (approx. 400 horsepower) and D10 (approx. 500 hp) size machines. The test mining areas total approximately 50,000 square metres.

- Purchased, overhauled and mobilized to site a Komatsu 750 excavator (a 75 tonne machine)

- Constructed a large tailings facility to handle monitoring activities and plant discharge.

- Installed a pump station complete with fish screens. The pump is a high lift-high volume machine driven by an approximately 400 hp diesel engine.

- Purchased, mobilized and installed 12 inch pipe system to provide process water for the plant and monitoring. A monitor is essentially a large water jet that blasts overburden out of the way.

- Purchased, mobilized a screening recovery plant from Mexico which is currently being reassembled. This plant will be upgraded to process in the range of 450 tonnes per hour.


The Company has mobilized 14 tractor trailer loads of supplies and equipment to the site. All equipment for sampling and mining is onsite and work is progressing quickly and diligently. A very competent work crew of primarily Dawson City based personnel have been engaged. Reassembling the test plant is expected in a two week timeframe. Test mining and processing will begin in the West Pit area. The front of the pit area has thin gravel but it is known to be substantially thicker further back. The Rock Truck area overlies the sediment - Klondike Schist bedrock contact zone which will be very interesting as it relates to a bedrock source of gold. There is evidence that low angle thrust faulting is present and the contact may potentially be a conduit for gold bearing fluids.

Sampling has been hampered by the availability of the small excavator as it has been seconded numerous times for unloading trucks and for mining activities. As the large excavator for mining is now on the property and no more large loads are expected, sampling is proceeding daily. Sampling conditions are difficult due to permafrost and excessive water flow. Despite conditions, the Company is confident that numerous sample sites in different environments will be completed. The intention of the Company is to report on the sampling results after the program is completed and on gold production on a periodic basis once underway.

Boulder Mining is acquiring a 100% interest in the Indian River Gold Property from Western Prospector Group (TSX VENTURE:WNP). Boulder Mining also 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.

On behalf of the Board of Directors

Boulder Mining Corporation

John H. McAdam, President and Director

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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