Mr. Robert Carrington reports

COLOMBIAN MINES CORPORATION TO ACQUIRE ROCKY MOUNTAIN MINING

Colombian Mines Corp. has entered into a binding letter of intent to acquire privately held Rocky Mountain Mining (RMM) of Aurora, Colo. In an all-stock deal, the company will obtain all of the issued and outstanding shares of RMM with an initial payment of 200,000 common shares. CMJ will also grant RMM shareholders warrants to purchase up to 1.7 million additional shares at escalating prices over a five-year period. With the RMM acquisition, Colombian Mines obtains a group of patented mining claims in the Leadville mining district of Colorado, together with an extensive database on those properties.

Agreement

CMJ will issue 200,000 common shares and an additional 1.7 million share purchase warrants to the current shareholders of RMM. The warrants will allow the holder to purchase one full share of CMJ per warrant, and may be exercised in whole or in part at any time within five years of granting. During an initial term up to 24 months after the grant, the warrants may be exercised at a price of 15 cents per share. During the period of 24 to 48 months after grant, warrants may be exercised at a price of 30 cents per share, or during a final period of 48 to 60 months from the date of grant at a price of 45 cents per share.

Leadville mining district

The Leadville district is one of the premier historical and modern mining districts in the United States. Since 1860, the district has produced over 3.25 million ounces of gold and 256 million ounces of silver, although it is better known for its lead-zinc production. By 1915, a new use for molybdenum as a steel hardener and its critical need in World War I, initiated development of what became the largest underground mine in the world with peak production reaching 75 per cent of the world supply.

Property

The property is located in an area of the district known for its high-gold values, including the presence of coarse visible gold. According to S.F. Emmons and his seminal 1886 USGS report on the district, the two most productive host rock horizons are present and mineralized in the property area. Early exploration on the property resulted in the discovery iron sulphide orebodies. The lower portions of the main iron ore zone as reported by Emmons was "impregnated with very-coarse gold" and one 400-to-500-ton quartzite orebody averaged 1.5 ounces per ton gold and four ounces per ton silver.

Company focus

Further information on the company's newly acquired Leadville property position is currently being consolidated. The RMM acquisition commences the company's program of acquiring gold- and silver-focused high-grade assets in favourable jurisdictions, while continuing to advance its properties in Colombia. The RMM acquisition is highly accretive to CMJ's shareholders, minimizes dilution and builds shareholder value. The company is currently reviewing other more advanced acquisition opportunities.

Colombian properties

El Dovio

The company's work has identified a zone ranging from 10 to 68 metres wide by one kilometre long that has been drill tested more than 200 metres downdip. Previously reported drill holes by the company include:

• Hole D13-01A -- 4.9 metres averaging 4.9 grams per tonne gold, 11.7 grams per tonne silver, 1.23 per cent copper and 2 per cent zinc;
• Hole D13-05 -- 6.9 metres averaging 5.9 grams per tonne gold, 34.3 grams per tonne silver, 5.9 per cent copper and 1.3 per cent zinc.

Metallurgical tests indicate mineralization at El Dovio responds very well to conventional froth flotation, yielding recoveries of 96.4 per cent for gold, 97.8 per cent for copper, 91.1 per cent for silver and 96.8 per cent for zinc.

Yarumalito

At Yarumalito, the company is exploring successfully for both high-grade gold-silver vein mineralization (Culebra shear zone) and copper-gold porphyry mineralization (La Escuela and Balastreras zones).

Culebra shear zone

As demonstrated by historical mine workings, outcrop and drilling, the zone extends over a five-kilometre strike length with a vertical development in excess of 1,000 metres. Sampling in historical mine workings has returned individual samples to 2.8 metres assaying 18.9 grams per tonne gold and 64.8 grams per tonne silver within a larger 12-metre zone averaging 5.8 grams per tonne gold and 26.7 grams per tonne silver. Initial drilling by the company (drill hole YAR-11) also returned 1.9 metres (from 138.1 metres to 140 metres) assaying 33.8 grams per tonne gold.

La Escuela-Balastreras

The presence and extent of gold-porphyry-style alteration and mineralization have been mapped and characterized with multiple programs of geophysical, surface rock chip and soil sampling. To date, more than 18,000 metres of drilling have been completed, much of this in and around the Escuela target zone, resulting in the identification of a significant volume of mineralization exemplified by drill hole YAR 24 that contains a 151-metre intercept from surface grading 0.64 gram per tonne gold in an outcropping mineralized body roughly 1,000 metres long by 400 metres wide and more than 800 metres downdip. Metallurgical work on 1.5 metric tonnes of mineralized drill core composited from the Escuela zone achieved 91.6 per cent recovery of gold on oxidized material crushed to one-half inch (12.5 millimetres), and recoveries of 80.6 per cent and 63 per cent on mixed and sulphide materials respectively when crushed to 10 mesh (1.5 millimetres).

Mercedes

The 4,995-hectare Mercedes property covers a high-grade, volcanic-hosted, intermediate-sulphidation epithermal-type system with outcropping high-grade gold-silver-copper mineralization, where select surface rock sampling of mineralized structures include samples assaying from two to 50 grams per tonne gold, 60 to 1,021 grams per tonne silver and 2 per cent to 26.5 per cent copper. Historically, artisanal mining exploited high-grade gold and copper mineralization, as well as high-purity barite. Property-wide airborne magnetic and radiometric surveys identify 31 high-priority targets for follow-up.

Quality assurance/quality control

The company's samples are collected in accordance with accepted industry best practices. All core sample intervals are marked by company geologists and diamond saw cut by trained technicians. After collection, samples are double bagged, sealed individually and delivered to ISO-certified laboratories for analysis. The company maintains rigid QC/QA through insertion of a series of blanks, duplicates and certified standards at a rate of one to 30 or higher.

Robert Carrington, PGeo, a qualified person as defined by National Instrument 43-101, and the president and chief executive officer of the company, has reviewed and verified the technical information contained in this press release.

We seek Safe Harbor.