Callinan Mines Limited
TSX VENTURE : CAA
OTC Bulletin Board : CCNMF

Callinan Mines Limited

December 20, 2005 16:04 ET

Callinan Extends Term of Warrants

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 20, 2005) - Callinan Mines Limited (TSX VENTURE:CAA) announces that, subject to regulatory approval, it has extended by one year to December 23, 2006, the term of outstanding share purchase warrants exercisable at $0.70 per share for 230,000 common shares issued pursuant to a private placement which closed on December 23, 2003 and previously extended to December 23, 2005. There is no amendment as to the exercise price.

In addition, subject to regulatory approval, it has extended by one year to December 31, 2006, the term of outstanding share purchase warrants exercisable at $0.55 per share for 975,111 common shares issued pursuant to a private placement which closed on December 31, 2004. There is no amendment on this exercise price.

Mike Muzylowski, President & CEO


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