Cline Mining Corporation
TSX : CMK

Cline Mining Corporation

October 14, 2008 14:03 ET

Cline Lake Gold Diamond Drill Results Announced

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) is pleased to announce that is now in receipt all of the outstanding assay results form the recently completed diamond drill program on the 88-60 Zone on its Cline Gold Project located near Wawa, Ontario, Canada. The Cline Gold Project is located along the Goudreau Lake Deformation Zone, a major, regional gold-bearing, structure and is situated approximately 5 kilometers east of the Island Gold Mine operated by Richmont Mines Ltd and Patricia Gold Mines.

Follow-up Drill Program on the 88-60 Zone

In late 2007, a follow-up diamond drill program commenced to further define and attempt to expand the 88-60 Zone as well as the 07-10 Zone (see Press Releases dated July 11th, 2008 and April 24th, 2008). This drill program was completed in the second quarter of 2008. Twenty-four (24) holes totaling approximately 3637 meters were drilled to test the 88-60 and Lake Porphyry Zones while fourteen (14) holes totaling approximately 3225 meters were designed to test the 07-10 Zone and the nearby Number 3 Shaft Zone.

Significant assay results received since the July 11th, 2008 news release are given in the table below and are shown in the attached figure.



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TABLE 1: CLINE MINING CORPORATION
Cline Lake Property
Summary of Significant Intersections

Hole From To Length Au gpt Au opt
(meters) (meters) (meters)
CL 08-51 83.82 97.84 14.02 2.48 0.072
incl. 96.62 97.84 1.22 12.82 0.374

CL 08-52 115.82 122.22 6.40 4.01 0.117
incl. 120.39 122.22 1.83 9.74 0.284

CL 08-53 73.45 76.20 2.75 4.02 0.117
incl. 75.28 76.20 0.92 9.11 0.266

CL 08-54 122.22 128.31 6.09 3.53 0.103
incl. 125.57 128.31 2.74 6.17 0.180

CL 08-55 148.13 149.95 1.82 17.20 0.502

note: true widths are currently estimated at 50-80% of drilled widths
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Cline has now successfully traced, by diamond drilling, the 88-60 Zone along strike for over 300 meters and to a vertical depth in excess of 200 meters. The deepest hole drilled to date down plunge (at a vertical depth of 220 meters) intersected 5.94 meters grading 12.0 gpt in hole CL 06-36 (see Press Release date July 11th, 2008).

A review of the historic diamond drilling carried out on the Cline Gold Property suggests that the structure which hosts the 88-60 Zone could extend for a minimum of 1000 meters across the northern part of the property.

Sample Preparation, Analyses and Security

The aforementioned assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologists for the drill program. All drill cores are BQ in size and assays are completed on split half-cores, with the second half of the core kept for future reference. The samples are put into rice bags and are sealed with security locks for shipping directly to Swastika Laboratories, an accredited assay laboratory, in Swastika, Ontario. The samples are analysed using standard fire assay procedures with an AA finish. In addition to the standard quality control of the laboratory, a series of blanks and standards are inserted in every shipment for quality control purposes.

This press release includes certain "Forward-Looking Statements". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

This press release has been prepared by Cline management and has been approved for dissemination by Mr. Bruce W. Mackie, P.Geo. a Qualified Person under Canadian Securities Guidelines.

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

CLINE MINING CORPORATION

Ken Bates, President and Chief Executive Officer

Forward Looking Information

All statements, other than statements of historical fact, contained in this news release, including any information as to the Company's current expectations with respect to the potential acquisition and future development of the New Elk Coal Properties, constitute "forward-looking information" within the meaning of applicable securities laws. Words such as "intend", "may", "will", "plan", "potential" or similar words suggesting future outcomes identifies forward looking information, which is, by its very nature, not a guarantee of Cline's future operational or financial performance, and are subject to risk sand uncertainties, both known and unknown, as well as other factors that could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information made by, or on behalf of, the Company. Readers are cautioned not to place undue reliance on forward looking information. By its nature , forward-looking information involves numerous assumptions, known and unknown risks and uncertainties, of both a general and specific nature, that could cause actual results to differ materially from those suggested by the forward-looking information or contribute to the possibility that predictions, forecasts or projections will prove to be inaccurate. These factors include, but are not limited to: uncertainty related to the Company's title to its properties; liabilities inherent in coal mine development and production; geological, mining and processing technical problems; the Company's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and coal processing operations; dependence on third party coal transportation systems; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; changes in commodity prices and exchange rates; changes in steel-making methods and other technological changes; the oversupply of, or lack of demand for, metallurgical coal; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of coal products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the other factors discussed under "Risk Factors" in Cline's 2007 Annual Information Form; and management's ability to anticipate and manage the foregoing factors and risks. Information relating to the magnitude or quality of mineral deposits is deemed to be forward-looking information.

Head Office: TD Canada Trust Tower 27th Floor,, 161 Bay Street, Toronto, Ontario M5J 2S1. Vancouver Office: Suite 2950 - 650 West Georgia Street, Vancouver B.C. V6B 4N8 The reliability of such information is affected by, among other things: uncertainty of estimates of their size or composition; uncertainty of projections relating to costs or production, transportation or estimates of market prices for products; the possibility of delays in mining activities; changes in plans with respect to exploration, development projects or capital expenditures; and various other risks including those relating to health, safety and environmental matters. The Company cautions that the list of factors set forth above is not exhaustive. Some of the risks, uncertainties and other factors which negatively affect the reliability of forward-looking information are discussed in the Company's public filings with the Canadian securities regulatory authorities, including its most recent management information circular, annual report, quarterly reports, material change reports and news releases. Copies of the Company's Canadian public filings are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of such information and may be superseded by subsequent events or filings. Except as required by applicable securities laws, the Company undertakes no obligation to update publicly or otherwise revise any information, including any forward-looking information, whether as a result of new information, future events or other such factors that affect this information.

Contact Information

  • Cline Mining Corporation
    Ken Bates
    President & CEO
    (416) 572-2002
    or
    Cline Mining Corporation
    Ernest Cleave
    Vice-President & CFO
    (416) 572-2002
    or
    Cline Mining Corporation
    Alana Kelcey
    Corporate Secretary
    (416) 572-2002
    Email: info@clinemining.com
    Website: www.clinemining.com