Vancouver, BC, March 5, 2010 - Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) and Astorius Resources Ltd. (“Astorius”) (TSX-V: ASQ) have received the results from one of three holes in a three hole diamond drill program (747 metres total). The drilling was completed late in 2009 to test a strong regional magnetic feature interpreted to have potential to host a buried copper gold porphyry system. Three holes were drilled, of which two were completed and one abandoned in overburden.
The second hole of the program, 09-P-06, intersected the bedrock interface at a depth of 146 metres and encountered a sequence of volcanic tuff/siltstone, sandstone and volcanic agglomerate believed to be part of the Eocene-age Kamloops Group which extends to the end of the hole at 316 metres. Several intervals of black carbonaceous material were encountered in the drill core and were initially suspected to be coal. The core was subsequently examined by Moose Mountain Technical Services; an east Kootenay based geological consulting and engineering group with expertise in coal geology. Moose Mountain concluded that while narrow intervals within the broader carbonaceous intervals can be described as “coaly” the carbonaceous material does not have a rank to classify as coal. Further research completed by Astorius and Cariboo Rose discovered two references to previous coal discoveries in the Pat project area. One discovery is referenced in the 1904 Report to the Minister of Mines and the other in a 2006 assessment report filed with the BC government describing a drill intercept of coal, nine kilometres to the west of the Pat property. Astorius and Cariboo Rose subsequently applied for nine coal permits (5,425 hectares) of which acknowledgement of receipt by the government (for the referral process) for eight of these has now been received. Minor pyritic intervals encountered in hole 09-P-06 will be sampled in the near term and analyzed for precious metal.
The third hole of the program, 09-P-07 which was located a further 1,600 metres to the west, passed through 197 metres of overburden before intersecting the bedrock interface. Bedrock in hole 09-P-07 is a grey brown tuffaceous unit with minor pyrite and is quite distinct from bedrock encountered in hole 09-P-06 and may represent the Triassic-Jurassic rocks typical of the Quesnel Terrane. The hole was bottomed at 258 metres after becoming stuck. The core from this hole was sampled but did not return any significant results.
The Pat project is located approximately fifteen kilometres southeast of the Village of Horsefly in the Cariboo region of BC. The Pat property is owned by Cariboo Rose Resources and is subject to an option agreement which gives Astorius the right to earn a 60% interest in it by completing $1.2 million in exploration, and paying $150,000 in cash and issuing 200,000 shares to Cariboo Rose, before July 9, 2011.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. (Bill) Morton, P.Geo.
President and CEO
Cariboo Rose Resources Ltd.
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: firstname.lastname@example.org
About Cariboo Rose Resources Limited
Cariboo Rose has six gold, copper and molybdenum exploration projects in Western Canada. 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, several of which have become new listings in their own right or have become part of other listed companies. Cariboo Rose itself was spun out from Wildrose Resources Ltd. after a 30% interest in the Spanish Mountain project was merged with Spanish Mountain Gold (TSX-V: SPA). Affiliated companies in the group include Eastfield Resources Ltd. (TSX-V: ETF) and Lorraine Copper Corp. (TSX-V: LLC). For more information please visit the Company’s website at www.cariboorose.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