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

Callinan Mines Limited

March 21, 2005 09:01 ET

Callinan Intercepts 215 Ft of Mineralization in the Thompson Nickel Belt

Callinan Intercepts 215 Ft of Mineralization in the Thompson Nickel Belt


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - Earlier this
month, Callinan (TSX VENTURE:CAA)(OTCBB:CCNMF) retained Crone Geophysics of
Mississauga, Ontario to interpret data from ground geophysics and down hole
pulse EM surveys of hole CAS-2 on The Company's Pine Property in Thompson,
Manitoba. Crone Geophysics has indicated that the data suggests "a sizeable
high conductance source... whose minimum dimensions are likely on the order
of at least 225m x 200m with the true depth extent of the source unknown,"
and that, "it is clear that there is a higher conductance zone lying
immediately North of the hole which represents an excellent drill target."

Diamond Drill hole CAS-4, designed to test the target area, intercepted more
than 215 ft of mineralization including sections of solid sulphides in
pyrrhotite and pyrite with visible chalcopyrite. Core samples from the Pine
property will be sent to Acme laboratories in Vancouver and assayed to
determine their value. The hole will be immediately subjected to more
down-hole geophysical probing in preparation for future drilling.

According to assessment files from the Manitoba dept. of Energy and Mines,
previous work on the Pine Property returned drill intercepts containing as
much as 2.93% Ni and 2.24% Cu. None of the core from the previous program was
assayed for PGM values.

The Company's exploration team has currently been mobilized to the nearby
Phillips Lake property for drill testing of at least two geophysical
conductors, one of which has been identified by Crone Geophysics as an
"extremely attractive target". The Company is in the process of earning a
100% interest in both the Pine and Phillips Lake properties.

Both Callinan's Pine and Phillips Lake properties are located in the Thompson
Nickel Belt, on the same system of ultra mafic folds that contains INCO's
Thompson, Soab North, Soab South and Birchtree mines and Falconbridge Mines'
Bucko Lake Deposit. The Thompson and Birchtree Mines produced 67,869,968 and
25,820,540 lbs of nickel in 2003 respectively. Source: infomine.com

Mike Muzylowski, President & CEO

Standard & Poor's Listed

12 Month Low/High equals $0.38 - $1.00

March 18, 05 equals $0.52


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