Kola Announces Further Placement to Raise $22,500

KOLA MINING CORP.

1305 – 1090 West Georgia Street, Vancouver, BC, V6E 3V7 Phone: +1.604.685.9316 / Fax: +1.604.683.1585

NEWS RELEASE August 6, 2013

***NOT FOR DISSEMINATION IN THE UNITED STATES***

KOLA ANNOUNCES FURTHER PLACEMENT TO RAISE $22,500

Vancouver, Canada - Kola Mining Corp. (“Kola” or the “Company”) (TSXV: KM) - Mr. Nick DeMare, President and CEO of the Company, announces a further non-brokered private placement of up to 1,500,000 units at $0.015 per unit. Each unit will consist of one common share and one-half of a warrant. Each whole warrant will entitle the holder to purchase one common share for five years from the closing date at $0.05 per share during the first year and at $0.10 per share during years two to five, subject to meeting the requirements of the TSX Venture Exchange's (the "Exchange") Temporary Relief Measures.

The proceeds from the financing are being used to settle, at a discount, past due debts owing to former management team (about $7,000) to pay year end filing fees ($2,000) and $15,560 for working capital purposes.

The private placement is subject to the acceptance of filings by the Exchange.

On behalf of the Board, Company Information

“Nick DeMare” 1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7 Nick DeMare, Company Contact: Nick DeMare +1 (604) 685 9316 President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.