Patricia Mining Corp.

Patricia Mining Corp.

September 30, 2005 14:20 ET

Patricia Mining Corp. Announces Project Updates at the Island Gold Project, Ontario

TORONTO, ONTARIO--(CCNMatthews - Sept. 30, 2005) - Patricia Mining Corp. (Patricia Mining) (TSX VENTURE:PAT) is pleased to update progress at the Company's Island Gold Project and confirms that the development and exploration program is on schedule to allow production to commence in mid 2006. During the third quarter of 2005, Richmont Mines Inc. (Richmont Mines) continued to fund a major exploration program, estimated at $10 million for 2005. Richmont Mines continues to invest over $1 million per month on advancing the Island Gold project towards production. If the cost to bring the mine into production exceeds $10 million, Richmond mines will be funding this through a loan facility to the joint venture as specified in the joint venture agreement.

At the Island Gold Mine, development was completed in the first 9 months of 2005 as follows:

Development of 187 metres along the mineralized zones on the 190 level was completed. The mineralized development was sampled and matched expectations from previous underground drilling completed in 2004. The development yielded similar grades to what was estimated in the RPA Mineral Resource Estimate model. This development will continue in the fourth quarter of 2005. Development in these mineralized zones is summarized below:

Zone Width Length Grade

"C" 1.56 m. 53 m. 10.4 g/t Au

"D" 1.56 m. 84 m. 11.9 g/t Au

"E" North 1.52 m. 50 m. 11.0 g/t Au

- The North Shear zone was intersected in the ventilation drift and yielded 24.1 g/t Au over a horizontal width of 2.1 metres. This further extends the potential of this new zone.

- The main ramp was extended and has now reached a vertical depth of 235 metres. The near term depth is planned to be a vertical depth of 300 metres, which will give access to most of the Island Deposit.

- The ventilation drift and raise were completed. The emergency exit is currently being constructed and will be completed in October 2005.

On surface work has progressed as follows:

- Electrical power to the 650 tonnes/day processing plant was restored. The major equipment is in the process of being cleaned and inspected and for the most part is being found to be in good condition. A plan for refurbishment will be developed in the fourth quarter of 2005.

- A new Compressor building was erected and commissioned.

- The Lochalsh ramp portal was enclosed to protect the access ramp from adverse weather.

Richmont Mines has spent in excess of $5 million and now have in excess of a 25% interest in the Island Gold Project. At their current rate of expenditure, it is expected that Richmont Mines will have funded $10 million to earn their 55% interest by the end of the year. Richmont Mines continues to invest in the project and may finance up to an additional $10 million through a loan facility to the joint venture. Richmont is currently reviewing mining methods for the various zones and is developing a mining plan that would allow mining to occur on 4 levels. The mining plan is expected to be completed in October, 2005.

A 10,000 metre exploration in fill drilling program in the Island zone commenced in September to verify the extension of gold zones and increase resources. A second drilling program will explore the North Shear zone in the vicinity of the ventilation drift where 24.1 g/t Au over a horizontal width of 2.1 metres was intersected.

Please visit our redesigned website where you will find more details in an updated presentation.

We will also attending the Toronto Investment Resource Conference on October 2nd and 3rd At the Metro Toronto Convention Centre. Please visit our booth # 520 close to the entrance of the exhibition hall to hear first hand, from management, the Company's plans for gold production in 2006.

Address: 8 King Street East, Suite 1300, Toronto, Ontario, Canada, M5C 1B5

This release was prepared by management of the Company who takes full responsibility for its contents.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs at the Island Gold Project, future profitability and production.

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

Contact Information