Niblack Mining Corp.
TSX VENTURE : NIB

Niblack Mining Corp.

April 23, 2007 09:43 ET

Niblack Receives Draft Permits for Underground Exploration Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 23, 2007) - Niblack Mining Corp. (TSX VENTURE:NIB) (the "Company") is pleased to announce that all major draft permits and approvals to conduct the planned underground exploration program at the Niblack VMS project in southeast Alaska have been received. In connection with the receipt of the draft permits, a public notice was issued today by the State of Alaska announcing their preliminary decisions and establishing a formal timeline for final approvals.

The draft permits and related documents are part of a 30-day public review and comment period coordinated by the Alaska Department of Natural Resources (DNR), the Alaska Department of Environmental Conservation (DEC), and the U.S. Army Corps of Engineers (ACOE) that ends May 23, 2007. In addition, the Company will also provide for a public meeting and public hearing to be held May 9, 2007. All information is available on the DNR's website at www.dnr.state.ak.us/mlw/mining/largemine/niblack. (6:00 am Alaska Time)

Paddy Nicol, President of Niblack Mining Corporation, states "We are extremely pleased to have reached this important milestone. The Company is well financed, having recently raised over $15 million, has key personnel in place, and expects to award the underground development contract in the next few weeks. We look forward to breaking ground early summer, with the goal to realize the size potential at Niblack."

About the Underground Exploration Program

The Niblack underground exploration program will provide drill access to deeper extents of gold-rich base metal mineralization defined at the Lookout zone. Underground workings would be accessed through a newly developed portal located near the Mammoth zone, which is also open to expansion from underground drilling. The underground program contemplates a total of 6000 feet of underground development, consisting of a 3000 foot main access drift, and three cross-cuts, each approximately 1000 feet in length. In addition to offering the ability to cost effectively expand known zones to depth, the underground program provides access to over 5000 feet of highly prospective stratigraphy on the opposite fold limb to the Lookout zone that is inaccessible to drilling from surface. The entire underground program would take place within the Company's patented claims, which include both mineral and surface rights.

Recent drilling success has been underpinned by the development of a predictive exploration model, with establishment of plunge projections of the mineralization. Highlights from 2006 surface drilling at the Lookout zone include:

- 49 feet (14.9 metres) grading 4.68 g/t gold, 126 g/t silver, 5.83% copper, 6.23% zinc

- 16.3 feet (5.0 metres) grading 9.9 g/t gold, 139 g/t silver, 4.87% copper, 15.42%

- 27.2 feet (8.3 metres) grading 16.3 g/t gold, 151 g/t silver, 1.07% copper, 16.26% zinc.

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. The Company plans to commence an underground exploration program in 2007 that is designed to expand the Lookout Zone at depth. The Niblack property has excellent exploration potential and is particularly attractive due to its high precious metals content and year round tidewater access.

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

On Behalf of the Board

NIBLACK MINING CORP.

Paddy Nicol, MBA, President

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

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