Patricia Mining Corp.

Patricia Mining Corp.

December 14, 2006 09:43 ET

Patricia Mining Corp. Increases Confidence Level In Island Gold Resource

TORONTO, ONTARIO--(CCNMatthews - Dec. 14, 2006) - Patricia Mining (TSX VENTURE:PAT) is pleased to provide further information on the recently filed NI 43-101 technical report (See December 6, 2006 press release). The Island Gold deposit contains a measured and indicated resource of 519,729 tonnes grading 11.34 g/t plus an additional inferred resource of 196,917 tonnes at 10.16 g/t.

Christopher Chadder, CEO of Patricia stated, "We are pleased with the results of the recently filed technical report which increase the Measured and Indicated Resources by more than 60%. This report was prepared by the independent consultant GENIVAR, which was filed on SEDAR on November 30, 2006. The report confirms earlier estimates and significantly increases the confidence of the reserve in the Island Zone. The positive results of this new report move the project ever closer to the announcement of commercial production.

There is good potential to increase the Island Gold Project resources. The current Mineral Resource estimate is only an estimate of the Island Zone. The Island Zone is open at depth and along strike in some areas. The estimate does not include any of the resources on the Goudreau, Lochalsh, North or Shore zones which are also contained within this project. The Mineral Resource estimate for these zones will be revised once data becomes available.

The surface exploration drilling performed on the Lochalsh Zone earlier this year is now being analyzed with the anticipation of new results being compiled for release in January 2007.

Patricia is pleased to announce that approximately 1,300 ounces of gold was poured at the Island Gold Project last week. The Gold was shipped to the Royal Canadian mint for refining. This was the third gold pour in less than a month and we anticipate increasing the amount of gold poured in the future. Another gold pour is scheduled for early next week.

Effective December 1, 2006 the Company has changed transfer agents to Capital Transfer Agency Inc. located in Toronto.

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

Symbol & Exchange: PAT - TSX Venture Exchange (TSX-V)

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

  • Patricia Mining Corp.
    Mr. Christopher Chadder, C.A.
    President & CEO
    (416) 214-4900
    (416) 864-0620 (FAX)
    Patricia Mining Corp.
    Dr. Richard H. Sutcliffe, P. Geo.
    (416) 214-4900
    (416) 864-0620 (FAX)
    Patricia Mining Corp.
    Mr. Gus Garisto
    Investor Relations
    Cell: (416) 805-3106