Colombian Mines Corporation
TSX VENTURE : CMJ

Colombian Mines Corporation

July 20, 2011 14:19 ET

Colombian Mines Announces New Sampling Results From El Dovio Property Including 21 Meters Averaging 15 g/T Gold Equivalent

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2011) - Colombian Mines Corporation (TSX VENTURE:CMJ) ("Colombian Mines" or "the Company") is pleased to announce finalized Mina Sabana Blanca underground channel sample results from the Company's high-grade, polymetallic El Dovio property in Colombia. These new results for silver, copper, and zinc complement the gold assays reported previously (see June 28, 2011 Company news release), and include 21 meters averaging 15.14 grams per metric tonne (g/T) gold equivalent. The polymetallic nature of this interval is well demonstrated by grades of 9.18 g/T gold, 15.14 g/T silver, 2.46% copper, and 2.04% zinc, including a subinterval of 6 meters averaging 25.52 g/T gold equivalent consisting of 13.58 g/t gold, 29.83 g/t silver, 5.66% copper, and 1.22% zinc. These results confirm that El Dovio is a high-grade polymetallic mineral system with significant upside exploration potential.

El Dovio Underground Channel Sample Results

Other significant results from the channel sampling in the Sabana Blanca tunnel, include 18 meters averaging 5.76 g/T gold equivalent with a 3 meter higher grade zone averaging 16.66 g/T gold equivalent. Table 1 below summarizes the updated channel sample results for the El Dovio property's Mina Sabana Blanca underground workings.

TABLE 1. El Dovio (Mina Sabana Blanca) Channel Samples*
Area Sampled Length (m) Au g/T Ag g/T Cu % Zn % Au Equiv. g/T Au Equiv.
Oz/ton
Main Tunnel 21.0 9.18 15.14 2.46 2.04 15.11 0.441
Includes 6.0 13.58 29.83 5.66 1.22 25.52 0.744
1 XCUT NORTH 7.0 4.81 3.32 0.03 0.40 5.13 0.150
Includes 2.0 12.46 5.78 0.03 0.51 12.89 0.376
2 XCUT EAST 18.0 4.98 5.21 0.08 1.09 5.76 0.168
Includes 3.0 14.44 12.30 0.24 3.16 16.66 0.486
*Gold equivalent calculation assumes metallurgical recoveries and net smelter returns are 100%, and metal prices of: $1,450/oz gold, $33/oz silver, $4.00/pound copper and $1.00/pound zinc.

The results include assays to 40.6 g/t gold, 64.8 g/t silver, 14.8% copper and 9.7% zinc from four separate one meter samples. All channel samples were collected on uniform one meter intervals along both sides (ribs) of the underground workings, and do not necessarily represent a true thickness of mineralization. However, the underground workings expose the mineralization in a way that provides three-dimensional information at a detailed level, and also yields representative samples that have not been subjected to surface weathering.

As shown by the updated map on the Company website (www.colombianmines.com), the Sabana Blanca adit is located adjacent to the western end of a larger (200 x 70 meters) locally northeast trending corridor of surface sampled mineralization, where the Company previously reported cutting values in excess of 104 g/T gold from outcrop. Follow-up mapping and sampling is underway to determine if the Mina Sabana Blanca gold-silver-copper-zinc mineralization extends the width of the corridor 30 meters to the northwest, or is a separate high-grade zone extending outward along a structure from the main zone.

El Dovio Work Plan

The Company's field crews are continuing to explore further extensions of the Sabana Blanca Zone, while finding new zones in the area with detailed geological mapping and sampling programs. In addition, the Company is completing a detailed survey of the surface topography. Following completion of the surface topography and the establishment of tight survey control, the Company will conduct geophysical surveys over known mineralized zones that will be integrated with geological and geochemical results to select and prioritize targets for follow-up drilling.

Sample Collection – Quality Control – Quality Assurance

The Company's samples are collected in accordance with accepted industry best practices. All channel samples were diamond saw cut to a nominal width of five centimeters, three centimeters deep and one meter in length yielding an average 3.7 kilograms per meter of sample length. After cutting, each sample is collected by hammer and chisel, sealed into individual sample bags, and delivered to the ALS-Chemex sample preparation facility in Medellin, Colombia. Sample Pulps are delivered by Chemex to their analytical laboratory in Lima, Peru. The Company maintains rigid QC-QA through insertion of a series of blank, duplicate and certified standards at a rate of 1:30 or higher.

Mr. Thomas H. Chadwick, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical information contained in this news release.

About Colombian Mines Corporation

Colombian Mines Corporation is focused on the acquisition, exploration and development of high quality mineral properties in Colombia with near to intermediate term production potential. Colombia is increasingly recognized as a highly prospective, yet under-explored country with excellent discovery potential. Further information can be found on our website at www.colombianmines.com.

Forward-Looking Statement

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Colombian Mines Corporation. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information