All Press Releases for September 30, 2004

Boulder Mining Commences Indian River Pitting Program

    / -- John H. McAdam, President of Boulder Mining Corporation (TSX V:BDR) is pleased to announce that the pitting program at the Indian River Gold project in which the Company is earning a 70% interest from Western Prospector Group (TSX V:WNP) is underway. A large backhoe will be used to dig pits at numerous locations to carefully and precisely obtain larger samples of each gold-bearing gravel formation. The gold tenor will be established by processing and physically recovering gold in a small sampling plant which is now operational. The pitting and processing will be done under the direct supervision of independent consultants who are on site.

The concept is to process samples that are large enough to adequately represent the full spectrum of gold grain sizes that exist in each gravel formation. What is clear to date is that smaller samples (eg. drill samples) tend to yield lower grades than larger samples (eg. previous pitting results). This is not a surprise and is in fact expected. This is because there is a statistical improbability of six inch diameter drill holes (located 400 metres apart) of encountering larger gold grains known to exist at Indian River. As directed by Alluvial Gold Expert Mr. Jim Tilsley, “adequate sample size” will be established in this program for each depositional unit. These adequate samples may be as large as ten tonnes each depending on the gold grain size distribution of each gravel unit. For comparison sake, drill samples were as little as 23 kg in some instances and the previous pit samples in the range of 53 to 150 kg.

This is a very exciting phase as work to date has demonstrated over 10 square kilometres of gold bearing gravels. The data collected during the current phase of work will be the foundation of building a gold reserve at Indian River. It is noteworthy that two lease mining operators are currently mining gold on the Indian River Property itself and the Company sees little reason why it can not quickly move the project down the road towards production as well.

Samples from the new bedrock discovery as announced on September 16th have been collected from a nearby outcrop exposure where a 20 m wide mineralized zone hosted in schist was located. Field crushing and panning of the mineralization yielded gold. Assays are expected in about two weeks. The Project has legitimate sizeable gold targets in the raised terrace gravels, the underlying conglomerate and now a new discovery in the basement schist rocks.

Boulder Mining Corporation is also earning interests in the Tevrede IOCG (Iron Oxide Copper Gold) project in Namibia. For further information please contact Brad Aelicks, VP Corporate Finance at (604) 899-4300. The Company also maintains a website at

On behalf of the Board of Directors

Boulder Mining Corporation

John H. McAdam

President and Director

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Contact Information

John H. John H.
Boulder Mining Corporation
Vancouver, BC
Voice: (604) 899-4300
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