Callinan, Bell Prepare For 20 Hole Drill Program At Fox River

November 14, 2006

VANCOUVER, B.C.—Callinan Mines Limited and joint venture partner Bell Resources Corporation have commenced construction of a new access route as step one of a winter diamond drilling program on their Fox River nickel prospect east of Gillam, northern Manitoba.

Crews are actively packing snow and ice along the new northern route as they create a solid bed upon which to transport heavy equipment, including drill rigs and a camp. Portable bridges will be used as stable and low-impact crossings at existing unfrozen waterways.

The program will enable the freezing of drill pads over prospective drill sites within the extensive Callinan-Bell holdings, which total 167,729 hectares. Targets include several clear, apparently flat-lying anomalies located by an ongoing airborne VTEM survey being conducted by Geotech Airborne of Aurora, Ontario.

Callinan President and CEO Mike Muzylowski noted that one such target measures 1,000 metres by 600 metres on surface, adding: “This anomaly’s flat-lying nature is unique in the region, and the fact that it coincides with a strong magnetic response–and with technical evaluation of the conductivity—could well indicate the presence of high concentrations of metals.

“This is precisely the type of ideal target we have been seeking in this area since 2003, and we are pleased that our prospective 20-hole drilling program will commence as quickly as possible.”

The winter exploration program is under the supervision of Pat DeVeaux, P. Geol, Callinan’s Chief Geological Consultant and a Qualified Person as defined by National Instrument 43-101.

The Fox River area is situated on a structural extension of Northern Manitoba’s prolific Thompson Nickel Belt. The mineral licenses held by Callinan Mines and Bell Resources contain an area of inferred crustal faulting that often acts as a conduit for sulphide-rich, mantle-layer intrusions carrying nickel, copper, platinum and palladium. These deposits are common on the boundaries of the Canadian Shield geological province, most notably in the Thompson Nickel Belt, host of five producing mines.

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