All Press Releases for October 21, 2004

Coarse Gold Recovery Improves Deposit Grades

John H. McAdam, President of Boulder Mining Corporation (TSX V: BDR) is pleased to report that large samples

    John H. McAdam, President of Boulder Mining Corporation (TSX V: BDR) is pleased to report that large samples, collected under the supervision of independent consultants, have generated significant increases in reported gold values (versus drilling) and are yielding a distinct population of gold nuggets. This work phase on the Downstream Bench Deposit on the Indian River Gold Project in the Yukon has highlighted several key points:

1) The robust grades being demonstrated are very encouraging and knowledge of the controls on mineralization has increased dramatically.

2) Nuggets of gold in the 1 gram weight class are being recovered regularly in the larger samples. These nuggets point to a different source of gold from the general population of fine gold, which raises the intriguing possibility of a nearby bedrock source.

3) Sites 1 and 4 are located near rotasonic holes 8 and 10 respectively and show gold values at least 10 times higher than these rotasonic holes.

4) The strongest values tend to occur near the bedrock interface although strong values also occur higher in the sections.

Presented below are the recovered gold values from each of the first four sites. As described in previous releases, the Company feels that a preliminary potential cutoff grade is 0.1 gram per tonne (0.2 gram per cubic metre).

Sample Location Weight Thickness Recovered Grade

(grams (grams per

(kilograms) (metres) per tonne*) cubic metre**)

Site 1 L 51+64E: 2+70N 28,965 1.12 0.220 0.440

Site 2 L48+60E:1+55N 13,089 1.42 0.164 0.328

Site 3 L49+68E:2+75N 34,048 2.46 0.204 0.408

Including 13, 089 0.80 0.411 0.822

Site 4 L47+75E:4+45N 32,800 3.49 0.205 0.410

Including 12,338 0.93 0.586 1.164

*raw weight of gold which does not account for the purity of the gold which is estimated to have a fineness of between 830 and 900

** assumes a bulk density of 2 tonnes per cubic metre.

The Downstream Bench, which occupies an area in excess of ten square kilometres of gold bearing gravels, is one of three similar sized targets on the property. To date nine sites have been sampled (but not yet fully processed) and data will be released as it is compiled and verified. The program will continue as long as weather permits. The data collected during the current phase of work will be the foundation of building a gold reserve at Indian River.

A large backhoe is being used to dig pits at numerous sites on the Downstream Bench to carefully and precisely obtain large samples of each gravel unit present. The program began in an area with easy access and shallow gravel depths for better control while setting the sampling protocol. The samples of each gravel unit are processed in a small sampling plant, which generates a gold concentrate. The gold is then recovered using a concentrating table. The gold is weighed and then related back to the original weight of that particular sample taking into account its moisture content. The pitting and processing are being done under the direction of independent consultants. Nelson Baker, B.Sc., P.Eng, V.P. Exploration is the Qualified Person for this Project.

Boulder Mining is earning a 70% interest in the Indian River Property from Western Prospector Group (TSX V: WNP). Boulder Mining Corporation is also earning an interest 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 McAdam
Boulder Mining Corporation
Vancouver, BC
Voice: 604 899-4300
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