Cline Mining Corporation

Cline Mining Corporation

April 10, 2007 10:30 ET

Cline Lake Drilling First Results-Increased Financing

SUDBURY, ONTARIO--(CCNMatthews - April 10, 2007) -


Cline Mining Corporation ("Cline" or the "Company")(TSX:CMK) is pleased to announce initial drill and assay results from the core drilling program on its Cline Lake gold property located near Wawa, Ontario, Canada. The drilling program is being carried out by Heath and Sherwood Drilling Ltd of Kirkland Lake, Ontario under the direction of Dale M. Hendrick P.Eng., a director of Cline and a Qualified Person for the purposes of National Instrument 43-101. To date, five holes have been completed with the sixth hole currently in progress, representing approximately 10,500 feet of drilling.

Assays for the first three holes have been received from Swastika Assay Laboratories of Swastika Ontario. Significant gold mineralization has been intersected in DDH CL 06-1 where an intersection averaged 0.174 opt Au over 20.3 feet including 0.509 opt Au over 6.5 feet. In DDH CL 07-2, the deepest and third hole on section 3500 E, three high grade intersections averaged 0.59 opt Au over 7.6 feet, 2.17 opt Au over 2.3 feet and 0.276 opt Au over 5.9 feet. All of these gold intercepts exhibited "free" visible gold.

The second hole in the program, CL 07-1, intersected a cross-cutting diabase dike in the area of the gold targets and no significant gold values and/or mineralization were intersected.

A summary table of results follows:

Location Azimuth Dip From To Length Oz/ton
DDH (feet) (degrees) (degrees) (feet) (feet) (feet) Au

CL 06-1 3500E, 180 -55 862.0 882.3 20.3 0.17
incl. 875.8 882.3 6.5 0.51

CL 07-1 3500E, 180 -55 No significant mineralization
550N because of diabase dike

CL 07-2 3500E, 180 -55 466.7 476.6 9.9 0.12

853.1 887.6 34.5 0.16
incl. 853.1 860.7 7.6 0.59

2105.1 2267.1 162.0 0.04
incl. 2105.1 2107.4 2.3 2.17
incl. 2261.2 2267.1 5.9 0.276


Note: Imperial Units are presented since results from the historical data
base for the Cline Lake gold property are all reported in Imperial

Based on information published in the Canadian Mines Handbook, the Cline Lake gold mine produced 332,670 tons with an average recovered grade of 0.215 opt Au. between 1936-1942 and 1947-1948.

Dale M Hendrick P.Eng reports that 3500E is the first completed drill section of the 3 to 5 sections to be drilled north to south at 1000 foot intervals. Mr Hendrick considers the increase in gold mineralization and assays in the deeper hole CL 07-2 as very encouraging as to the untested depth potential of the property.

The current program on the Cline Lake gold and Strike Edwards gold properties will continue to complete a minimum of 40,000ft of diamond drilling at an estimated budget of $2,000,000.

The technical information contained in this news release has been prepared and approved by Dale Hendrick P.Eng. a Qualified Person for the purposes of National Instrument 43-101.

Strike Edwards Joint Venture

As previously announced, Cline has also commenced drilling on the adjoining Strike Edwards gold property, immediately to the west of the Cline Lake gold property. Cline can earn up to a 12.5% joint venture interest in the Strike Edwards property by expending up to $350,000 on exploration on or before June 30, 2007. Cline has spent approximately $200,000 on Strike Edwards core drilling, from which complete assays are presently awaited. Three deep holes beneath the Edwards mine workings at 1000 foot depths have been drilled to date.

Flow-through Private Placement

The Company also announces that it has completed a non-brokered flow-through private placement financing for a total of $750,000 through the sale of 1,875,000 flow-through units ("FT Units") at a price of $0.40 per FT Unit to the MineralFields Group. Each FT Unit consisted of one flow-through common share and one-half non-flow-through share purchase warrant with one whole share purchase warrant entitling the holder to acquire one additional common share of Cline at a price of $0.90 per share for a period of eighteen months.

In connection with this placement, Cline paid a cash finder's fee of 5.0% of the total proceeds and granted options to purchase units equal to 7% of the number of units subscribed for at a price of $0.40 per unit for a two year period to Limited Market Dealer Inc. (the "LMD Units"). Each LMD Unit would consist of one share and one-half common share purchase warrant entitling the holder to acquire one additional common share of Cline at a price of $0.90 per share for a period of eighteen months.

The gross proceeds of the private placement is slated for exploration expenditures on the Cline Lake gold and the Strike Edwards gold properties.

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about Mineralfields group is available at

Cline Mining Corporation is a mine development company focused on the exploration and development of uranium and iron-ore in Madagascar, gold in Canada and metallurgical coal in Canada for the international seaborne coal trade market. The Company website can be located at


Ken Bates, President and Chief Executive Officer

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