KM

Kola Mining (TSX VENTURE: KM)(FRANKFURT: C8M) is pleased to announce that it has completed an Instrument 43-101 compliant report specific to the Bogunay Gold Prospect ("Bogunay"). The Report documents current and past exploration at Bogunay.

Exploration conducted from 2004-2007 was focused on evaluating the Bogunay gold prospect both proximal to known gold occurrences or past-producing mines and regional, grass-roots exploration prospects. Drilling has been successful in establishing a resource of oxide ore (less than 35 metres from surface) at the Krasnoyarsky deposit of 160,000 ounces. A further 347,000 ounces are estimated below the oxide cap(i).

Individual results from Krasnoyarsky included 7.36 g/t Au over 4.0 m. Exploration drilling has intersected new zones at Vostochny and Ivanovskaya comprising 2.84 g/t Au over 4.6 m and 28.3 g/t Au over 1.5 m, respectively.

Prolific sampling and trenching executed during this period has generated targets that require follow up sampling, trenching and drilling in addition to drilling to expand the resource potential at Krasnoyarsky and Bogunay. A more thorough digital compilation of the available data has commenced and once completed a comprehensive exploration program will be designed to be completed during 2010-11.

(i) The quoted disclosure for the Bogunay Gold Prospect was disclosed by TEO Konditsiy. The deposit is historical and should not be relied upon since it is not compliant to standards set out in National Instrument 43-101. However, it is relevant because: it is indicative of mineralized zones within the Bogunay Prospect making them worthy of follow up exploration. The resource is based on historic drilling exploration and development carried out at Bogunay (C2 Soviet Category Resource). A Qualified Person has not classified historical estimates as current mineral resources/reserves, and Kola is not treating them as current mineral resources/reserves since recent work has not verified the historical estimates. Kola has not done any work to confirm these estimates.

Kola Mining's disclosure of a technical or scientific nature in this news release was prepared under the supervision of Dean Besserer, P.Geol., of APEX Geoscience Ltd., Edmonton, Alberta, who is a Qualified Person under the definition set out in National Instrument 43-101. Apex Geoscience Ltd. is an independent Canadian geological consulting firm with offices in both Canada and Australia.

KOLA MINING EXPLORATION UPDATE

Kola Mining is continuing with its review of acquisition opportunities in Russia and has commenced detailed due diligence on a significant developed tin property located in Russia. The property is an advanced near term production opportunity and has had significant expenditures in exploration and development over the past several years.

Vancouver, British Columbia. Kola Mining Corporation (TSX VENTURE: KM)(FRANKFURT: C8M) ("The Company")

To find out more about Kola Mining Corp., please visit the company website at www.kolamining.com.

On behalf of the Board of Directors of KOLA MINING CORP.

Viktor Tschovrebov, President & C.E.O.

Forward Looking Statements. This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contacts: Kola Mining Corp. 604.694.1600 www.kolamining.com