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News Release
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Monday, January 26, 2009
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Phillips
Lake Drill Permits Received
VANCOUVER - Callinan Mines has received a drilling
permit for its Phillips Lake property in the Thompson Nickel Belt region of
northern Manitoba. Ground based magnetometer and pulse EM surveys are
currently being carried out to further define nickel bearing zones isolated
in the 2007-2008 drill program. The drill program, scheduled to begin upon
completion of the geophysical work, is designed to test the magnetic
anomalies to depth and on strike. Mineralization from previous testing was
encountered in serpentinized peridotite similar to that which hosts the
nickel deposits along the Thompson Nickel belt. Highlights of the 2008 drill
program are detailed in the table below. The company is certain that further
definition of these targets by ground geophysics will ultimately lead to a
better understanding of these important structures.
Hole (Angle)
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From (m)
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To (m)
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Width (m)
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Nickel Assay
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CAP 6 (-65�)
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143.00
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147.85
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4.85
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0.445%
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197.55
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203.90
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6.35
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0.695%
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238.80
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256.50
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17.70
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0.448%
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CAP 7 (90�)
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131.90
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146.10
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14.20
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0.364%
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173.90
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176.20
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2.30
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1.352%
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Including
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174.80
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175.40
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0.60
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2.98%
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CAP 13 (-70�)
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105.15
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125.50
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20.35
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0.433%
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153.60
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166.00
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12.40
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0.564%
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174.40
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203.80
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29.4
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0.351%
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Widths represent core lengths, true widths of the mineralized zones remain
unknown. Core samples were shipped from the Phillips Lake site to a company
facility in Snow Lake, Manitoba where they were cut in half and logged. One
half of each sample was then sent via freight to Acme Analytical Laboratories
in Vancouver, BC where they underwent a 37 element ICP-MS analysis. The
remaining halves were placed in core boxes and remain stored at the company
facility in Snow Lake.
Coles Creek Highlights:
Along with drilling, Callinan carried out an extensive prospecting program
during the 2008 season at their wholly owned Coles Creek property near
Houston, British Columbia. This prospecting program will help to define zones
and develop targets for future drill programs. A total of 183 samples were
taken at various locations, from both bedrock and float. Highlights from
these samples correspond with known zones of mineralization, and can be found
in the table below:
Sample
Number
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Au (gm/mt)
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Ag (g/mt)
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Cu %
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Zn %
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Pb %
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78963
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0.305
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12.6
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-
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5.32
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-
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78965
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0.304
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28
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0.102
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30.00
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0.32
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78978
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0.314
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>300
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0.281
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9.35
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7.61
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78990
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0.540
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>300
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0.338
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15.40
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24.40
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78991
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0.090
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>300
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0.230
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7.54
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16.60
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78994
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4.500
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24
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>1
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0.03
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-
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929499
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9.778
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>100
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0.048
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4.36
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0.19
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Sample numbers 78963, 78965 and 78990 were volcano-sedimentary rocks, well
mineralized with sphalerite. This is consistent with the sedimentary type Ag,
Pb and Zn mineralization associated with the volcano sedimentary basin
discovered in the 2007 program. Sample number 78994 was malachite stained,
with andesite, and was taken in the vicinity of the Cu, Au, Mo granodiorite
porphyry complex. All samples that returned silver assays greater than 300
g/mt (greater than 9 ounces per ton) will be re-assayed to determine exact
silver content.
The encouraging results of this sampling program have prompted Callinan to
acquire new ground at Coles Creek, expanding the company's land holdings in
the area to over 15,000 hectares.
An extensive prospecting program is planned for 2009 which, together with the
2008 program, will help define future diamond drill hole locations.
All surface samples were collected and bagged in the field. The GPS location
of each sample was logged at the time of collection by the collecting prospector
before being returned to the Coles Creek camp for inspection by the site
geologist. Samples were then sent to Assayers Canada of Smithers, BC, where
they were crushed, processed and underwent a 24 element multi-leach ICP
analysis. The process of analysis includes a company approved QA/QC protocol
including a pulp duplicate to monitor analytical precision and a reagent
blank to measure background levels.
Corporate Update
As ordered in the ruling of the Court of Queen's Bench of Manitoba of March
26, 2008, Hudbay Minerals Inc. has delivered to Callinan certain of the
financial records relating to the operation of the Callinan and 777 Mines.
Callinan has retained an independent accountant to review the documents
preparatory to taking further proceedings in Callinan's suit against Hudbay.
The Coles Creek and
Phillips Lake programs are overseen by P.J. DeVeaux, a qualified person as
defined by National Instrument 43-101 who has reviewed and approved the
contents of this release.
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