Nickel Mineralization Discovered at Phillips Project

    VANCOUVER, Aug. 26 /CNW/ - Diamond drilling on Callinan Mines Limited's
(CAA.V) Phillips Lake property near Thompson, Manitoba has discovered nickel
bearing sulphide zones.
    Assays on core from the 2007 winter drill program have returned
significant nickel values as shown in the table below. Widths of
mineralization ranging from 2.3m to 29.4m were intercepted in three holes
completed during the program. Samples containing pentlandite mineralization
within the larger widths graded as high as 2.98% Ni. Additional assays are
currently being carried out on the zones containing nickel values to test for
associated platinum group metal values. All zones remain open at depth and on
    Testing of one anomaly returned a near-solid sulphide intercept which
assayed 1.35% Ni over 2.3 m at 175 m of vertical depth. Previous operators did
not detect this nickel mineralization. Additional anomalies remain to be
tested. The mineralization occurs in a serpentinized peridotite similar to
that which hosts the nickel deposits along the Thompson Nickel belt.
    The Company plans to carry out detailed ground pulse electromagnetic
surveying (inside and outside the transmitter loop) in the coming winter
season to define the targets and prepare for an extended drill program.
Further drilling will be required to determine the true widths of the
intercepts reported below.

        Hole (Angle)      From (m)     To (m)      Width (m)    Nickel Assay
    CAP 6 (-65 degrees)    143.00      147.85         4.85          0.445%
                           197.55      203.90         6.35          0.695%
                           238.80      256.50        17.70          0.448%
    CAP 7 (90 degrees)     131.90      146.10        14.20          0.364%
                           173.90      176.20         2.30          1.352%
    CAP 13 (-70 degrees)   105.15      125.50        20.35          0.433%
                           153.60      166.00        12.40          0.564%
                           174.40      203.80         29.4          0.351%

    Holes Cap 6 and Cap 7 were drilled from the same collar location. Cap 13
was collared 250 m north of Cap 6 and 7. Callinan Mines maintains a
quality-control program using industry best practices consistent with National
Instrument 43-101. The program is under the supervision of P.J Deveaux, a
qualified person as defined by National Instrument 43-101. All technical
information is obtained and reported within a formal quality assurance and
quality control (QA/QC) program. Sampling was conducted at a Company facility
in Snow Lake, Manitoba, with two 50/50 per cent splits prepared for each
interval. Core was then shipped by freight to Acme Analytical Laboratories in
Vancouver, BC for assay. Sample preparation and aqua regia digestion ICP-ES
analysis were carried out at Acme's Vancouver facility.

    About Callinan Mines
    Callinan Mines is an aggressive Canadian exploration company. The
Company's ongoing exploration for base and precious metals is well funded by a
Net Profits and Royalty Interest in the 777 mine in Flin Flon, Manitoba.

    On Behalf of the Board of Directors,

    Mike Muzylowski
    President and CEO

    The Phillips Lake Project is being conducted under the direction of Pat
DeVeaux, P.Geo, a qualified person as defined by National Instrument 43-101
who has reviewed and approved the contents of this news announcement.

    The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of this news announcement. The
forward-looking information contained in this press release is made as of the
date of this press release and, except as required by applicable law, the
Company does not undertake any obligation to update publicly or to revise any
of the included forward-looking information, whether as a result of new
information, future events or otherwise. By its very nature, such
forward-looking information requires the Company to make assumptions that may
not materialize or that may not be accurate. This forward-looking information
is subject to known and unknown risks and uncertainties and other factors,
which may cause actual results, levels of activity and achievements to differ
materially from those expressed or implied by such information.

For further information:

For further information: Braden Maccke at (877) 228-5210 or (604)

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