Niblack Mining Corp.
TSX VENTURE : NIB

Niblack Mining Corp.

June 17, 2008 07:30 ET

Niblack Underground Program Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2008) - Niblack Mining Corp. (the "Company") (TSX VENTURE:NIB) is pleased to announce an update for the ongoing underground exploration program at the gold-silver-copper-zinc rich Niblack project in southeast Alaska. Underground drilling to date has encountered copper bearing massive sulphides within a broad zone of favourable stratigraphy at the Mammoth target. Development has advanced the exploration program 758 metres (2,500 feet) into Lookout Mountain and the Company is nearing completion of the first of two drilling stations designed to drill-test the deepest reaches of the known zone of mineralization at the Lookout area. In addition, the drift is now approximately 15 metres (50 feet) from the Lookout stratigraphy hosting gold and base metal rich mineralization.

Paddy Nicol, President of Niblack said, "We are pleased with the progress of our underground exploration program and are looking forward to drilling the Lookout zone imminently. Underground drilling in the Mammoth area provides further confirmation of a major volcanogenic massive sulphide system at Niblack. Mineralization is widespread throughout the rhyolite hosted stratigraphy, with over 2 kilometres of prospective ground accessible to drilling from the current underground program."

Underground Development Program

The underground exploration program contemplates over 1,000 metres (3,000 feet) of drift development, and over 8,000 metres of underground drilling. To date, crews have advanced the main drift 758 metres (2,500 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 drill stations are expected to be built over the next week with commencement of drilling at Lookout expected shortly. In addition to expanding the Lookout zone, drilling will test several other targets from stations established every 150 metres along the main access ramp (graphic available at www.niblackmining.com).

Underground Drilling

Nine holes, for a total of 1,804 metres (5,919 feet), have been completed at Mammoth. Significant sulphide mineralization has been intersected in all holes, including stratiform massive sulphide and semi-massive sulphide intervals up to 8.7 metres (28.6 feet) in width, and grading up to 2.74% copper, 0.61 g/t gold and 24 g/t silver over 1.65 metres (5.4 feet). Mineralization at Mammoth has now been defined over a strike length of 160 metres (530 feet) and a dip length of 150 metres (500 feet), and includes at least two separate stratigraphic horizons.

This initial phase of underground drilling at Mammoth is encouraging as the geologic environment is similar to that seen at the Lookout zone. The Mammoth area remains open in all directions, highlighting the potential for significant expansion or discovery of higher grade massive sulphides.



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Mammoth Station 1
---------------------------------------------------------------------------
Width Width
Hole From To (ft) (m) Au g/t Ag g/t Cu % Zn %
---------------------------------------------------------------------------
U001 340.5 351.7 11.2 3.41 0.36 14 1.68 0.44
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incl. 346.3 351.7 5.4 1.65 0.61 24 2.74 0.08
---------------------------------------------------------------------------
U002 560 564.2 4.2 1.28 2.05 18 0.47 less
than
0.01
---------------------------------------------------------------------------
U003 495 500 5 1.52 0.3 1 less 1.29
than
0.01
---------------------------------------------------------------------------
U003 504.7 510 5.3 1.62 0.45 0.6 less 1.17
than
0.01
---------------------------------------------------------------------------
Mammoth Station 2
---------------------------------------------------------------------------
U004 337 340 3 0.91 0.47 6 0.71 less
than
0.01
---------------------------------------------------------------------------
U005 408 418 10 3.05 0.35 4 0.47 0.05
---------------------------------------------------------------------------
U006 462 480.1 18.1 5.52 0.18 5 0.74 0.41
---------------------------------------------------------------------------
incl. 469.8 480.1 10.3 3.14 0.28 7 0.95 0.4
---------------------------------------------------------------------------
U009 527 530.7 3.7 1.13 0.26 10 0.51 less
than
0.01
---------------------------------------------------------------------------


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.

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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