Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) is pleased to announce that Dajin Resources Ltd. (“Dajin”) (TSX-V: DJI) has started a 5 hole, 1000 metre drilling program on the Cowtrail Property to investigate a possible copper-gold porphyry system. The Cowtrail claims are located southeast of Imperial Metal Corp’s (TSX-V: III) Mt. Polley Mine in the Cariboo Mining District of British Columbia. Cariboo Rose has optioned Dajin the right to earn 65% interest in the Cowtrail Property by conducting $1-million of exploration and making cash payments totaling $110,000 by August 2010.
Previous assay results from the Cowtrail claims, drilled by Imperial Metals Corporation in 1997, indicated the presence of anomalous copper and gold in the drill holes. The Cowtrail property has a magnetic signature analogous to the Mount Polley mine and results from an Induced Polarization survey on the Cowtrail claims, completed by Dajin in 2006, indicated the presence of numerous chargeability anomalies. For more information about the Cowtrail property, please go to our website at www.cariboorose.com.
Other companies are also exploring in the immediate area. NovaGold Resources Inc. (TSX-NG) on the Shiko Lake project adjacent to the western portion of the Cowtrail property. Cariboo Rose and Fjordland Exploration (TSX-V: FEX) are conducting a drill program adjacent to the south end of Cowtrail on the Woodjam Property.
J.W. Morton, P.Geo is the qualified person who has reviewed and takes responsibility for this news release.
J.W. (Bill) Morton, P.Geo
Paul Way, Business Development Manager
Toll Free: 888-656-6611
About Cariboo Rose Resources Ltd.
Cariboo Rose Resources Ltd. is a Canadian public resource company that trades on the TSX - Venture exchange under the symbol CRB and holds title to five prospective mineral exploration projects in Western Canada. Four of Cariboo Rose’s properties are currently optioned to funding partners and one is a joint venture. Cariboo Rose is a spin-off from Wildrose Resources (TSX-V: WRS).
Cariboo Rose Resources is part of the Eastfield Group. Since its inception in 1987, the Eastfield Group has utilized a successful business strategy of securing third party exploration financing on the majority of its projects. This has allowed the company to minimize share dilution and risk, while maximizing leverage. The other companies in the Eastfield Group are Eastfield Resources (TSX-V: ETF) and Wildrose Resources.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.