Pine Valley Mining Corporation
OTC Bulletin Board : PVMCF
TSX : PVM

Pine Valley Mining Corporation

August 22, 2006 22:07 ET

Pine Valley Issues Correction from Source

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 22, 2006) - Pine Valley Mining Corporation (TSX:PVM)(OTCBB:PVMCF) (the "Company") announces that its previously issued news release contained an error in the reference to the number of shares issuable under stock options. The number of common shares issuable under stock options granted should have stated 110,000 common shares and not 210,000.

This news release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties including but not limited to economic, competitive, governmental and geological factors effecting the Company's operations, markets, products and prices and other risk factors. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company's dependence on the steel industry, volatility in coal prices, accidents and other risks associated with mining operations, the Company's need for and availability of additional financing, the restrictions imposed under the Company's existing debt arrangements and its debt service requirements and the other risk factors discussed in greater detail in the Company's various filings with the Securities and Exchange Commission and Canadian securities regulators, including the Company's Form 20-F dated June 21, 2006.

PINE VALLEY MINING CORPORATION

Robert Bell, President and Chief Executive Officer


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