Bolivar Mining to Explore Potentially Major Rare Earth Elements Deposits

VANCOUVER, Jan. 16  /PRNewswire-FirstCall/ -- Bolivar Mining Corp (BOLV) announces the expansion of exploration discovery of several potentially major economic Rare Earth Element (REE) mineral deposits occurring in Grenvillian-aged (1.1 billion years old) basement Charnockites, located in central Georgia, USA by our exploration/technical team. The occurrences have been evaluated by ground radiometrics plus soil and rock geochemistry. The deposits' gamma radiation intensity locally exceeds the average background gamma radiation by up to two orders of magnitude. The REE's occur in monazite-allanite veins with accessory rutile, magnetite, albite, quartz, apatite, and iron sulfides.

Michael M. Ellis, BMC's Chief Exploration and Mining Officer, states, "These deposits could have a major impact on Bolivar Mining and its shareholders. I am looking forward to completing our core drilling analysis and tracing geographically the full extent of these deposits in central GA."

According to the U.S. Geological Survey, Rare Earth Elements have not been mined domestically since 2002. The 2006 estimated value of refined REE's consumed in the United States was more than $1 billion USD. Currently, the U.S. Government's Strategic Stockpile has no REE's in inventory...zero REE's in case of a war or a national emergency. Based on the final 2005 reported data, the estimated marketplace uses of REE's are as follows: 32% of REE's were used in automotive catalytic converters; 21% of REE's consumed were for metallurgical alloys and additives; 14% were used in specialized glass polishing and ceramics; 10% were used as rare earth phosphors for lighting, televisions, computer monitors, radar and x-ray intensifying screens; 8% of REE's were used as petroleum refining catalysts; 2% were used to produce powerful permanent magnets; and 13% of the REE's used went into other high-tech products.

The trend for REE's is for a continued increase in many applications, especially automotive catalytic converters, small powerful permanent magnets, and rechargeable batteries. The demand is growing for mixed rare-earth compounds and for rare-earth metals and their alloys used in permanent magnets to drive powerful miniature headphones, speakers, and automatic locks on cars, base-metal alloys, super alloys, pyrophoric alloys, lighter flints, and armaments.

Uses for specific REE's are far too numerous to completely list here, but some of the growing demand for thorium is in quality glass optics; while the increase in demand for cerium compounds is greatest in automotive catalytic converters. Yittrium compounds have seen their demand grow tremendously for use in fiber optics, lasers, oxygen sensors, phosphors for fluorescent lighting, color televisions, electronic thermometers, x-ray intensifying screens, pigments, and superconductors, to name only a few.

Dr. Robert Cook, BMC's Chief Mineralogist and Geologist, states, "The mineralogy of the occurrences was established cooperatively with personnel of the Smithsonian Institution. The deposit has important similarities to the major Steenkampskraal deposit in South Africa."

For a glossary of terms and for more details on market uses of REEs, visit our website http://www.bolivarmining.com/projects.php and select Georgia Project.

  About Bolivar Mining Corp.:
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Bolivar Mining Corp, is a metals mining and exploration company engaged in global mining exploration in over eight countries on four continents. By implementing efficient operations and engineering excellence, BMC will have opportunities to operate in areas where larger mining companies cannot operate profitably or have overlooked, thus allowing access to bring rich mineral reserves to the global market.

  Forward Looking Statement:
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Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although BMC believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties, including, but not limited to, the continued mineral prices at historical rates, costs of operations, delays, mineral reserves and revenues to be derived there from, plans to mine additional mineral reserves, acquisition of additional mineral reserves, maintaining mineral lease rights, continued maintenance of the mines, mining operations and other properties, price of minerals, marketing and sales of minerals mined, government regulation, future financial and operational results, competition, general economic conditions, and the ability to manage continued growth. In addition, the Company's ability to accurately forecast its operating results, and its ability to achieve profitability or generate positive cash flow are uncertain. BMC assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Readers are cautioned not to place undue reliance on these forward-looking statements.

To schedule an interview with Arshad Shah, please email 

CONTACT: Bolivar Mining Corp., [phone], www.bolivarmining.com,  

DATASOURCE: Bolivar Mining Corp.



CONTACT: Bolivar Mining Corp., [phone], http://www.bolivarmining.com/,

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