Encouraging Assays Returned from Coles Creek

November 14, 2008

VANCOUVER — Callinan Mines has received encouraging assays from the 2008 summer drill program carried out on the Coles Creek property near Houston, BC.

This program was designed to further test the silver, lead and zinc mineralization discovered during the 2007 drill season. Mineralization was successfully intersected over a 1.2 kilometer strike length, in volcano-sedimentary host rock.

Mineralization was present in several different zones of this sedimentary, pyroclastic strata, indicating the possibility of larger, more concentrated zones. This structure is not a localized phenomenon, but rather an enrichment of a large basin-like geological feature that, once better tested and understood, could prove to be valuable. The silver mineralization is hosted in cretaceous sedimentary rocks, which may be similar to those of the previously producing Equity Silver Mine, located approximately 70 km to the northeast of Coles Creek.

A total of 3,267.61 meters of drilling was completed in 11 holes. 8 of these holes were drilled to test the new silver, lead and zinc mineralization, 3 of which (COLE 17, 18, 10) intersected significant mineralization.

Hole No.

From (m)

To (m)

Width (m)

Ag (gm/mt)

Zn (%)

Pb (%)

17

40

170

130

8

0.83

0.24

18

10

151

141

20.5

0.32

0.17

including

89

130

41

45

0.44

0.24

187

196

9

51

0.25

0.13

236.3

241

4.7

200

1.09

0.34

19

116

138

22

6.45

1.65

0.42

The remaining 3 holes were set out to further test a copper and molybdenum bearing geological structure which had been targeted in previous programs. Assays are still pending, and should yield a better understanding of this structure.

Chief project geologist Pat DeVeaux is pleased with the advancement of the project to date. “Clearly, we have uncovered a potential silver, lead, zinc deposit with accessory manganese values,” he explained. “We will outline the continuation of this program as the next drill season approaches.”

On Behalf of the Board of Directors,

Mike Muzylowski

Mike Muzylowski

The Coles Creek program is overseen by Pat DeVeaux, a qualified person as defined by National Instrument 43-101, who has reviewed and approved the contents of this release. The TSX Venture exchange has not reviewed and is not responsible for the adequacy or accuracy of this release.