Niblack Mining Corp.
TSX VENTURE : NIB

Niblack Mining Corp.

June 26, 2008 07:30 ET

Niblack Underground Drilling Resumes at Second Crosscut

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2008) - Niblack Mining Corp. (the "Company") (TSX VENTURE:NIB) is pleased to announce the next phase of underground drilling on the Company's gold-silver-copper-zinc rich Niblack VMS property in southeast Alaska has begun. The drilling will be situated at the second cross-cut approximately 742 metres (2,450 feet) within the adit, and designed to expand the depth extent of the known zone of massive sulphide mineralization previously explored from surface.

Paddy Nicol, President of Niblack, stated, "This drill program represents a very exciting time for the Company as we embark on expanding the known zone of mineralization at the South Lookout zone. Some of the best drill-hole intercepts reported by Niblack over the past two years have come from this area. In addition, we look forward to drilling untested stratigraphy below the tunnel that represents the "blue-sky" potential for the property."

About the Underground Drilling Program

This phase of underground drilling program contemplates up to 8,000 metres (26,000 feet) of drilling aimed at expanding the Lookout and South Lookout zones at depth, and gaining greater confidence of existing mineral resource areas. In this area, some of the deeper drill intercepts from surface based exploration include drill hole LO-129 that grades 3.26 g/t gold, 98 g/t silver, 4.52% copper and 16.38% zinc over 4.5 metres (14.8 feet) and LO-181 grading 4.68 g/t gold, 126 g/t silver, 5.83% copper and 6.23% zinc over 14.94 metres (49 feet).

Mineralization at the Lookout area and elsewhere on the Niblack property is hosted by a thick sequence of rhyolite stratigraphy that exhibits wide spread alteration indicative of a large scale hydrothermal system. To date, six massive sulphide zones have been identified on the property within the folded stratigraphy -- Lookout zone, Trio zone, Dama zone, Mammoth area, the Historic Mine site, and the Lindsy zone. The Lookout and Mammoth zones are situated on opposite limbs of a major fold that is the focus of the underground drill program (graphics available at www.niblackmining.com).

Underground Development Program

The underground exploration program contemplates over 1,000 metres (3,000 feet) of drift development. To date, crews have advanced the main drift 788 metres (2,600 feet) in from the portal entrance at a rate of approximately 4.1 metres (13.5 feet) per day. Ground conditions continue to be good with limited rock bolting required. Groundwater encountered within the adit has required routine grouting, adding to the overall cost of the program. The current phase of underground development is anticipated to be completed by late July.

About the Company

Niblack Mining Corp. is a mineral exploration company engaged in advanced stage exploration of the gold, silver, copper, zinc Niblack volcanogenic massive sulphide (VMS) property located on Prince of Wales Island in southeast Alaska. The Company is carrying out underground and surface exploration programs that are 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.

The Company and Committee Bay Resources Ltd. (TSX VENTURE:CBR) recently announced that the two companies have entered into a Letter of Agreement providing for a business combination whereby Committee Bay will acquire all of the issued securities of Niblack on the share exchange ratio of one share of Committee Bay for every one share of Niblack. The Letter of Agreement also provides that Committee Bay has agreed, subject to certain conditions, to provide financing to Niblack for up to C$10,000,000 by way of secured convertible debenture. Committee Bay is now advancing funds for exploration and development work on the Niblack project.

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 included in this release were analyzed 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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