Callinan Mines Limited
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Callinan Mines Limited

January 10, 2006 14:06 ET

Callinan, Bell to Drill Their Expanded Fox River Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2006) - Callinan Mines Limited and joint venture partner Bell Resources Ltd. are prepared to commence a dynamic winter exploration program on promising targets within their sizeable Fox River property in northern Manitoba. The program will begin when the Shamattawa winter road is opened by the Manitoba government.

The Fox River area, near Hudson Bay, has been the scene of intensive exploration by both major and junior companies. Results from these various programs have led geologists to conclude that the area could well host a major ultramafic sulphide nickel-copper deposit.

In recognition of this fact, the joint venture in 2005 acquired an additional mining exploration license covering 17,233 hectares, bringing the joint venture's total Fox River holdings to 101,145 hectares - or almost a quarter-million acres. A review of assessment reports filed by the previous operators and obtained through the Manitoba Dept. of Mines identified geophysical conductors located by horizontal loop survey that have not been tested by drilling. Additionally, three nickel-copper-cobalt-palladium anomalies were located by a Mobile Metal Ion (MMI) geochemical survey. No assays were conducted for platinum.

Callinan/Bell Resources has commissioned a crew from Crone Geophysics of Toronto, Ontario to conduct a Pulse Electromagnetic Survey over these three anomalous targets. Diamond drilling will follow, utilizing a drill rig that had been stored near the site following the 2004-05 winter program.

The Joint Venture partners stated today that the newly acquired ground represents significant potential, and the information from the assessment files has enabled them to design a fast-paced and efficient exploration and drilling program, thereby taking full advantage of the time covered by the work permits, and allowed by natural conditions.

The project is being operated by Callinan Mines Ltd. under the supervision of P.J. Deveaux, P.Geol., of Vancouver, a Qualified Person as defined in NI 43-101.

Mike Muzylowski

Callinan Mines Ltd.