High Grade Gold Values up to 81.57 g/tonne Gold Intersected on the Silver Coin Project



    Resource Area Extended a Further 80 Meters South

    Trading Symbols: TSX.V:PNL
    and O7M - Frankfurt Stock Exchange

    STEWART, BC, Aug. 12 /CNW/ - Pinnacle Mines Ltd and Mountain Boy Minerals
Ltd announce that initial assays for the first four holes of the 2008 drill
program on the Silver Coin Project have been received. Two holes, 232 and 233,
have long intersections of gold mineralization. At present, over 11,000 meters
of drilling have been completed in 71 holes, mostly on the Kansas claim with
some drilling on the Big Missouri claim. Due to early drill success, the
drilling program has been expanded from the initial 10,000 meters.
    Notable assay results from holes, 232 and 233, are listed in the table
below. The other two holes did not have any notable assays. Other assay
results are pending.

    
    -------------------------------------------------------------------------
                From    To   Width     Au     Ag     Cu     Pb     Zn  CLAIM
    DDH         (m)     (m)   (m)     g/t    g/t      %      %      % TESTED
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    2008-232   66.45  78.64  12.19  12.66  24.46   0.02   0.30   0.77 Kansas
    -------------------------------------------------------------------------
     including 69.49  71.02   1.52  81.57    128  0.079   1.29   2.91 Kansas
    -------------------------------------------------------------------------
     and      106.38 107.29   0.91   1.53    9.7  0.032   0.20   0.43 Kansas
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    2008-233   63.09  84.43  21.34  11.29  20.14   0.05   0.40   0.96 Kansas
    -------------------------------------------------------------------------
     including 69.19  81.38  12.19  18.17  31.58  0.084   0.64   1.45 Kansas
    -------------------------------------------------------------------------
     and       99.67 105.46   5.79   3.91   5.74   0.01  0.033  0.096 Kansas
    -------------------------------------------------------------------------
    

    The Silver Coin is a gold-silver-base metal property located about 24
kilometers north of Stewart, British Columbia in the Skeena Mining Division.
The Silver Coin project and associated minerals claims is a 51-49% joint
venture between Pinnacle Mines and Mountain Boy Minerals except for the Kansas
claim which is 29 % mountain Boy and 71 % Pinnacle.
    A NI 43-101 report dated May 1, 2007, by MineFill Services, Inc.,
indicates that the property has 488,202 gold equivalent (Au-Ag) ounces in the
measured and indicated category as well as 1,000,499 gold equivalent ounces in
the inferred category. The 2008 drill program is designed to add precious
metal resources and to improve the resource categories already established in
the 43-101 compliant resource calculation and technical report.
    Alex Walus P. Geo. is the qualified person looking after the drill
program on behalf of the companies. Drill core samples are assayed by Assayers
Canada of Vancouver, BC.

    Pinnacle Mines is a Canadian based mineral exploration and development
company with assets in Canada and Mexico. In Canada, Pinnacle holds properties
in northwestern British Columbia in proximity to numerous past and producing
mines including the Silbak-Premier Mine and Barrick Gold's famed Eskay Creek
Mine. In Mexico, Pinnacle has options to acquire and is currently exploring
two copper-gold-silver targets located within the state of Oaxaca.

    
    On behalf of the Board of Directors
    "Paul Saxton"
    President & CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or the accuracy of the content of this
    news release.
    

    %SEDAR: 00005272E




For further information:

For further information: Paul Saxton, President or John Van Duzen at
(604) 688-7377 or visit Pinnacle's website at www.pinnaclemines.com

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PINNACLE MINES LTD.

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