VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 30, 2010) - Colombian Mines Corporation ("Colombian Mines" or "the Company") (TSX VENTURE:CMJ) is pleased to announce that due to encouraging results, the drill program at Yarumalito is being expanded with the addition of an LF-70 drill from contractor GEOVAL S.A.S., providing greater depth capabilities than the man-portable rigs used on the property to date. Through mid-July, the Company completed 2,522 meters of core drilling in, and around, the La Escuela target area. This drilling has consistently intersected broad zones of gold-copper mineralization, including 141.4 meters averaging 0.77 grams per metric tonne (g/T) gold in YAR-11. Recently acquired ground magnetics geophysical data in the main target area of the property has been integrated with surface soil (MMI) and rock geochemistry to identify new drill targets in the La Escuela and Balastreras areas, as well as along a two kilometer easterly trend to Quebrada Poleala. Please refer to the new MMI maps on the Company web site at www.colombinamines.com for more information.

At the La Escuela, Balastreras and Poleala target areas, remarkably strong MMI Response Ratios ("RR") to 8,600 times background have been observed for gold. Typically for Yarumalito, MMI ratios greater than 50 are anomalous and greater than 100 are considered highly anomalous. Detailed ground magnetics and infill MMI soil surveys are currently underway throughout the 2.9 by 1 kilometer MMI gold anomaly area. Three crews are also extending the survey to parts of the property not previously covered. This work is expected to define new targets and refine target selection through at least September, as results and interpretations are completed.

Colombian Mines has completed YAR-06 to -13 (8 core holes) in the La Escuela area during the 2010 campaign. YAR-15 is currently being drilled at La Escuela, and is targeting a magnetic high within a more extensive MMI gold anomaly. The first hole in the Balastreras area, YAR-14, has been completed (assays pending), while nearby YAR-16 is currently underway. Current targets are summarized below:

• La Escuela- most of the drilling to date has been on the flank of magnetic highs recently delineated in this area, and targets anomalous gold in soil MMI and surface rock sample geochemistry. Exploration results to date suggest that bulk tonnage gold-copper porphyry style mineralization is dominant in most of this area. Host rocks are mixed volcano-sedimentary units and intrusives. In addition, YAR-11 drill results, which include 1.85 meters (138.15-140 m) assaying 33.75 g/T gold, suggest that vein style gold mineralization becomes increasingly important along trend to the east. Additional drilling is planned to further delineate both the high grade vein and lower grade bulk tonnage mineralization intercepted in YAR-11.
• Balastreras- drilling in this area will target both porphyry and vein style mineralization in volcano-sedimentary and intrusive host rocks. Surface sampling in this target area has returned composite channel sample results of 140 meters averaging 0.7 g/T gold in porphyry style mineralization, and 2.2 meters grading 4 g/T gold from major vein/fault zones on strike and possibly related to the Quebrada Poleala target located approximately two kilometers to the east-northeast. This target represents one of the broadest coincident magnetic and MMI soil geochemistry highs on the property.
• Quebrada Poleala- vein style mineralization is currently interpreted to be the dominant target type in this area. Surface rock channel sampling has delineated a mineralized fault zone grading 18.9 g/T gold over 2.8 meters. Other nearby mineralized structures partially exposed by underground workings are coincident with a MMI gold high (up to 8,600 RR) encompassed within an extensive 2.2 kilometer linear anomaly. Host rocks for the veins in this area are also mixed volcano-sedimentary and intrusive units.
• Via El Sucre- vein style mineralization with MMI gold RR to 450 within an anomaly up to 350 meters long, in an area of moderate topographic relief where a previous operator had reported surface rock channel samples averaging 11.5 g/T gold over 6 meters.
• Libano- vein style mineralization with coincident MMI RR to 70 over an implied 1.5 kilometer strike length and where rock channel sampling has returned values from 14 to 81 g/T gold over widths from 0.3 to 0.7 meters.
• El Guiaco- vein and hydrothermal breccias in an area of the property to be covered by the current MMI program near the projected intersections of the Quebrada Poleala and Libano targets, where the Company's surface rock channel sampling has returned values up to 32 g/T gold over 0.3 to 0.5 meter widths.

Sample Collection - Quality Control – Quality Assurance
The Company's exploration samples are collected in accordance with accepted industry best practices. Samples are collected and transported under the supervision of Company personnel to SGS Laboratory's Medellin sample preparation facilities and analyzed at SGS's Lima, Peru laboratory (ISO9001:2000). For all rock and drill samples, gold was analyzed by fire assay with an ICP/AES finish, and silver and base metal analyses were determined with ICP/AES techniques. As standard procedure for core and rock channel samples, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays. Rock channel results in this news release represent approximate true widths. All MMI samples are collected by trained field technicians and the samples analyzed by SGS at their Lima, Peru facility. For MMI soil sampling, duplicate samples are collected at a rate of 1 in 30.

Mr. Robert G. Carrington, P.Geo., a Qualified Person as defined by National Instrument 43-101 and President of the Company, has reviewed and verified the technical information contained in this news release.

About Colombian Mines Corporation
Colombian Mines Corporation is focused on the acquisition, exploration and development of high quality mineral properties in Colombia with near to intermediate term production potential. Colombia is increasingly recognized as a highly prospective, yet under-explored country with excellent discovery potential. Further information can be found on our website at www.colombianmines.com.

Robert G. Carrington, President

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.