Niblack Mining Corp.
TSX VENTURE : NIB

Niblack Mining Corp.

November 30, 2006 08:30 ET

Niblack Drills More High-Grade Massive Sulphide: 4.97 Metres of 9.94 g/t Gold, 139 g/t Silver, 4.87% Copper, and 15.42% Zinc

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 30, 2006) - Niblack Mining Corporation ('Niblack') (TSX VENTURE:NIB) (www.niblackmining.com) is pleased to provide additional results from drilling at the Company's polymetallic (copper, zinc, gold, silver) Niblack property in southeast Alaska. Drilling continues to intersect new areas of high-grade mineralization at the Lookout zone. Mineralization at Niblack occurs within a vigorous and widespread volcanogenic massive sulphide ("VMS") system that demonstrates significant enrichment in gold.

Highlights:

- Drill hole LO-189, a 100 foot step-out from previously released hole LO-181, intersected 4.97 metres (16.3 feet) of massive sulphide grading 9.94 g/t gold, 139 g/t silver, 4.87% copper, and 15.42% zinc. The mineralization is within a wider, 16.79 Metre (55.1 foot), interval grading 3.26 g/t gold, 53 g/t silver, 2.4% copper, and 4.89% zinc.

- Drill hole LO-188, drilled 150 feet down dip of LO-189, intersected a 24.5 metre (80.4 foot) zone of gold-rich massive sulphide and copper stringer mineralization grading 3.63 g/t gold, 37 g/t silver, 1.59% copper and 0.50% zinc. Included within this zone, is a 12.01 metre (39.4 foot) interval grading 4.54 g/t gold, 46 g/t silver, 2.41% copper, and 0.73% zinc. True widths of intersections in LO-188 and LO-189 are approximately 95% of reported widths.

- These recent drill results, when combined with holes LO-181 (49 feet @ 4.68 g/t gold, 126 g/t silver, 5.83% copper, 6.23% zinc), and LO-182 (27.4 feet @ 5.19 g/t gold, 37 g/t silver, 2.99% copper, 4.71% zinc), define a new area of high-grade and gold-rich mineralization within the Lookout Zone that is open in all directions.

A complete list of significant new drill intersections is listed below in Table 1. Further details, including a full list of 2006 drill results, plan maps, cross-sections, and a list of drill hole coordinates are posted on the Company's website (www.niblackmining.com).



Table 1. Assay Results
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Lookout Zone
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Section Hole From To Width Width Au Ag Cu Zn
(Az/Dip) Number (ft) (ft) (ft) (m) (g/t) (g/t) (%) (%)
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4550E (0/-75) LO-184 628.9 646 17.1 5.21 1.57 27 0.97 1.77
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LO-184 730.6 846 115.4 35.17 1.19 12 0.43 0.71
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4550E (0/-65) LO-185 785.5 791.5 6 1.83 1.05 36 0.63 13.56
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4550E (0/-82) LO-186 719.2 728.8 9.6 2.93 3.18 48 1.27 3.84
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4800E (0/-75) LO-187 hole abandoned at 201 feet due to ground conditions
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4800E (0/-83) LO-188 828.2 835 6.8 2.07 1.10 31 2.72 0.75
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LO-188 882.2 890.1 7.9 2.41 0.55 42 2.32 1.61
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LO-188 933.4 1013.8 80.4 24.51 3.63 37 1.59 0.50
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Incl 963.6 1003 39.4 12.01 4.54 46 2.41 0.73
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4800E (0/-75) LO-189 803.7 858.8 55.1 16.79 3.26 53 2.40 4.89
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Incl 836.5 852.8 16.3 4.97 9.94 139 4.87 15.42
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LO-189 936 943 7 2.13 2.60 65 2.30 2.68
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Lookout Zone Drilling

The latest round of drill results extends mineralization within an under explored portion of the Lookout zone located approximately 500 feet down dip of the main sulphide trend. The mineralization is gold-rich, consists of both massive sulphide and stringer zones, and defines a deeper sub-parallel trend to the main sulphide trend. Mineralization is open in all directions, with up-plunge extensions accessible to drilling from surface. Deeper extensions of the mineralization will be accessible to drilling from the currently planned underground program.

Drilling within the main sulphide trend (LO-184, 185, and 186) has intersected broad zones of disseminated and replacement style mineralization (e.g. 115.4 feet grading 1.19 g/t gold and 0.43% copper) in addition to zinc-rich massive sulphide (e.g. 6.0 feet grading 1.05 g/t gold, 36 g/t silver, 0.63% copper, and 13.56% zinc). Previously released results from this years drilling in the main sulphide trend at the Lookout zone include 8.29 metres (27.2 feet) of 16.3 g/t gold, 151 g/t silver, 1.07% copper, and 16.26% zinc in hole LO-168, and 3.35 metres (11.0 feet) of 23.59 g/t gold, 403 g/t silver, 2.96% copper and 14.57% zinc in hole LO-165.

Program Status

Thirty-two drill holes (LO-162 to LO-193) totalling 27,000 feet have been completed at Niblack's 2006 exploration program. Drilling focused on expanding the Lookout zone as well as testing property wide targets. A detailed summary of the drill program will be provided following receipt of final assays.

Concurrent with the drill program, the Company commenced construction of a 5000 foot (1,500 metre) access road from tidewater to the future portal site. The road is now complete and the area of the portal site has been cleared and readied for development. Underground development is scheduled to commence in 2007 pending receipt of final permit approvals.

About the Company

Niblack Mining Corp. is a mineral exploration company engaged in advanced stage exploration of the copper-zinc-gold-silver Niblack massive sulphide (VMS) property located on Prince of Wales Island in southeast Alaska. Plans include an underground exploration program to access the deeper extents of the favourable stratigraphy at the Lookout zone. Management believes the Niblack property to have excellent exploration potential and is particularly attractive due to its high precious metals content and year round tidewater access.

A rigorous quality control and quality assurance protocol is utilized on the project including blank and reference samples with each batch of assays. All samples were analyzed by fire assay and ICP at ALS Chemex Labs in Vancouver, B.C., Canada. Darwin Green, Vice President of Exploration for Niblack Mining Corporation, is the Qualified Person for this exploration project

To find out more about Niblack Mining Corp (TSX VENTURE:NIB), visit our website at www.niblackmining.com.

ON BEHALF OF THE BOARD OF NIBLACK MINING CORP.

Paddy Nicol, MBA President

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

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