Vancouver, B.C., March 13, 2008 - Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) and Fjordland Exploration Inc. (“Fjordland”) (TSX-V: FEX) are pleased to report that drilling has resumed at the Woodjam copper, gold and molybdenum project in central British Columbia. The objective of the 2008 program will be to continue drilling at the recent copper-molybdenum discovery in the Southeast Zone (announced January 18, 2008) and test other areas of the large claim group, which was expanded to 44,413 hectares with the recent 100% option of two properties (Magalloy and Big-Moose Horn) adjoining Woodjam. Approximately 4,000 meters of drilling by contractor Cabo Drilling (Pacific) Corp. is planned in the first phase program.
Almost the entire landscape at the Woodjam project is overburden covered causing exploration to be dominated by diamond drilling, guided by geophysical surveying (induced polarization). Three anomalous regions of geophysical response, now considered to probably be a unified feature, have been explored using these techniques with approximately 44 kilometres of new grid cut in February of this year (currently being surveyed; 75 kilometres). The Megabuck Zone, the Takom Zone and the newly discovered Southeast Zone collectively occupy a donut-shaped area measuring about six kilometres in diameter. In addition to the important discovery at the Southeast Zone with hole 07-79 which intersected 113.8 metres grading 0.40% copper and 0.014% molybdenum, significant results were also received for hole 07-77 drilled in the Takom Zone which intersected 53.3 metres grading 0.27% copper and 0.29 g/t gold. The Takom anomaly, located approximately 3 kilometres west of the Southeast Zone, was formerly constrained on the west side by the property boundary. On February 26, 2008, Fjordland and Cariboo Rose entered into two options to earn a 100% interest (subject to a net smelter interest) in 1,850 hectares of mineral claims west of the pre-existing boundary to allow this area to be more effectively explored. Exploration of the Takom copper gold target has consequently been elevated to a significant additional objective of the 2008 program and is one of the areas included in the current geophysical survey.
The Woodjam Joint Venture is owned 60% by Fjordland and 40% by Cariboo Rose. The project lands are situated in the Cariboo Region of south-central British Columbia, approximately 55 kilometres east of the City of Williams Lake. The Woodjam project is located in a low elevation, relatively flat and dry timbered landscape, close to hydroelectric power and a natural gas pipeline.
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. Cariboo Rose has six mineral exploration projects in Western Canada, two of which border the Woodjam property. Cariboo Rose is part of the Eastfield Group. Since its inception in 1987, the Eastfield Group has utilized a successful business strategy that leverages exposure by securing third party exploration financing on the majority of its projects. The other companies in the Eastfield Group are Eastfield Resources (TSX-V: ETF) and Wildrose Resources (TSX-V: WRS). For more information visit the Company’s website at www.cariboorose.com.
Bill Morton
J.W. (Bill) Morton, P.Geo
President
Contact:
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
email: pway@eastfieldgroup.com
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.
TSX:CRB