CALLINAN MINES LTD.

Callinan announces it has recently entered into an option agreement to earn an interest in 32 mineral claims comprising 5,303 hectares in the Island Lake area of East-Central Manitoba. The Island Lake property hosts several known gold occurrences, including historical drill holes with values of up to 28.3 grams per tonne of gold. Other historic work includes a 70 ton bulk sample mined by Island Lake Gold Mines in 1934 from two pits on the property, from which 47.25 oz of gold was recovered. The property is located on the same system of shears, faults and splays as the previously producing Island Lake Gold Mine operated by Island Lake Gold Mines Limited, according to assessment work filed with the Manitoba government.