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CMJ

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:CMJ TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Colombian Mines Drill On-Site at El Dovio and Rio Negro Joint Venture Partner, Overland Resources, Makes Joint Venture Paymen...

14/04/2014 1:55pm

Marketwired Canada


Colombian Mines Corporation (TSX VENTURE:CMJ)(FRANKFURT:X6C) ("Colombian Mines"
or the "Company") is pleased to announce MPX Drilling Colombia has advised the
Company that the drill is on-site and being positioned at El Dovio. 


Additionally, joint venture partner Overland Resources Limited (ASX:OVR)
("Overland") has made the first payment due under the terms of the Rio Negro
joint venture option agreement by issuing 11,351,722 shares to Colombian Mines
on April 11, 2014. As a result, Colombian Mines holds approximately 5.5% of the
issued and outstanding shares of Overland. Combined with the Company's 10%
interest that is 100% carried through to production, the Company holds
approximately a 15% beneficial interest in the project when Overland earns its
interest.


Overland has provided Colombian Mines results from 386 soil geochemical samples
from its ongoing work program at Rio Negro. Highlights of Overland's program
include:




--  Recent soil sampling has better defined an anomalous gold in soil
    geochemical corridor, extending over approximately 600m x 200m, in the
    Central area of the Rio Negro Project, with individual soil samples
    containing more than 2.7 grams gold per metric tonne. Mapping in the
    Central area has delineated several gold bearing quartz veins with
    strike orientations similar to the newly identified north-northwest gold
    in soils trend. Overland advises that it intends to expand the mapping
    and soil geochemical coverage to the north to better define the nature
    and extent of the mineralization. 
    
--  Three anomalous gold centers identified within the overall northeast-
    southwest anomalous corridor. 
    
--  A second northwest trending anomalous corridor, perpendicular to the
    original anomalous gold zone, has been identified. This new trend is
    consistent with the regional structures that control extensive
    mineralization in the proximal California gold fields. The anomaly
    remains open to the north. 
    
--  Results from limited soil sampling in the northern area of the Rio Negro
    Project, where alteration is indicative of porphyry related intrusive
    activity, indicates gold is present in the alteration system. 
    
--  Additional follow-up field work currently being planned and expected to
    commence shortly. 



More information on these geochemical results is available on Overland's website
at www.overlandresources.com.  


About Rio Negro: The Rio Negro Project (the "Project") is comprised of three (3)
contiguous concession contracts together with three (3) pending concession
applications that cover approximately 2,245 hectares and 17 kilometers of strike
length of highly prospective ground along the Bucaramunga Fault Zone located in
north-eastern Colombia, 20 km north of Bucaramanga. The Project is interpreted
to lie at the intersection of the deep seated Bucaramunga Fault Zone and other
oblique north-west trending structures that hosts the 10 Moz Au Angostura and
the 3.5 Moz Au La Bodega deposits in the California gold fields of Colombia.


Colombian Mines owns a 100% interest in the Concession Contracts and
Applications that comprise the Rio Negro Project. In September 2013, the Company
granted Overland Resources an option to earn a 90% undivided joint venture
interest in the Project providing that Colombian Mines interest is 100% carried
through to production.


About Colombian Mines Corporation: Colombian Mines Corporation is an aggressive
exploration and development stage company with a distinct "first mover"
advantage in Colombia. Focused on developing shareholder value through
exploration and development of key projects, the Company is also one of
Colombia's leading "prospect generators". Further information can be found on
our website at www.colombianmines.com.


Robert G. Carrington, President & CEO

Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.


Forward-Looking Statement: 

Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Colombian
Mines Corporation. Actual results may differ materially from those currently
anticipated in such statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Colombian Mines Corporation
Sharon Hebgin
Corporate Communications
(604) 649-9195 - Canada
(760) 668-7211 - United States
shebgin@colombianmines.com


Colombian Mines Corporation
Dave Cross
Chief Financial Officer and Corporate Secretary
(604) 669-0868
dcross@crossdavis.com
www.colombianmines.com

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