News

2011 News


Vancouver, BC, Sept 14, 2011 - Cariboo Rose Resources Ltd. (TSX-V: CRB) (“Cariboo Rose”) and La Quinta Resources Corporation (TSX-V: LAQ) (“La Quinta”) are pleased to announce that diamond drilling has commenced on the Carruthers Pass volcanogenic massive sulfide project. The Carruthers Pass claims are located 70 km south of the Kemess copper-gold mine in the Omineca Mining Division and are approximately 3,250 hectares in size. Drilling is targeting three areas initially. Full Force Drilling of Peachland, B.C. has been contracted to drill up to 1,000 m (3,250 ft) NQ core in this helicopter supported program. Sampling of visibly altered and mineralized intervals is also in progress.

Initial drilling targeted massive sulfide mineralization approximately 10.0 m x 7.0 m which is interpreted to be a detached slab from a collapse of the cliff face. The angle drilling intersected 3.0 m thickness of copper-dominant massive sulfide in contact with metagabbro, beneath which was unconsolidated material. Quarter-split samples of this core have also been submitted to labs for analysis. During due-diligence review of the project, the La Quinta sampled this boulder to confirm historical values reported in prior technical reports. Values from those grabs are as follows:






























Sample No. Au (g/t) Ag (g/t) Cu (%) Zn (%)
080711-01  3.84  147  2.43  2.90 
080711-02  0.85  111  1.81  6.46 
080711-03  3.38  82  1.49  4.21 

The values compare favorably with historic sampling reported previously at this location:





































Sample No. Au (g/t) Ag (g/t) Cu (%) Zn (%)
62692  2.100  56  1.12  7.05 
72638  0.169  >99  2.62  2.99 
63454  0.458  >99  3.13  4.50 
Govt-A 3.170  250  4.44  4.48 

In addition to the drilling, an Induced Polarization surface survey (“IP”) is underway. Scott Geophysics is the contractor for this IP survey.

Carruthers Pass is under option to La Quinta. Under the terms of the LOI, Cariboo Rose has granted a six year option to acquire 90% of the project to La Quinta in exchange for $2 million dollars on exploration, payments of $470,000 dollars to Cariboo Rose and issuing 2 million shares of common stock to Cariboo Rose. La Quinta has also been granted the opportunity to acquire the remaining 10% interest from Cariboo Rose at fair market value. The project is subject to a 2.5% royalty, which may be reduced to 1% royalty by purchase from the underlier, Phelps Dodge Corporation of Canada Limited for $1.5 million.

Mr. Geoffrey Goodall, P. Geo., an independent qualified person as defined under Standard for Disclosure of Mineral Projects (“NI 43-101”) has supervised field activities including chain-of-custody protocols.

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.

Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com


About Cariboo Rose Resources Limited

Cariboo Rose Resources Ltd. is a mineral exploration company with six gold, copper and molybdenum exploration projects in British Columbia and the Yukon. The Woodjam North and Woodjam South copper-gold-molybdenum properties (totaling 56,150 ha) belong to the Woodjam Joint Venture which consists of Cariboo Rose (40%) and Fjordland Exploration Inc. (60%). Both properties are under option to Gold Fields Horsefly Exploration Corporation. Cariboo Rose and Fjordland have recently announced plans to amalgamate their interest in both Woodjam properties and spin-out the properties to shareholders in the form of a new publicly listed company (See Cariboo Rose news release of June 29, 2011). Other properties include the Canadian Creek copper-gold property located in the White Gold District of the Yukon optioned to Castillian Resources Corp. (TSX-V: CT); the Cowtrail gold property optioned to Dajin Resources Corp. (TSX-V: DJI) located in the Cariboo region adjacent to and north of the company’s Woodjam North property; the Carruthers Pass copper-zinc-silver property in north-central British Columbia optioned to La Quinta Resources Corporation (TSX-V: LAQ); and the Pat gold-copper property in the Cariboo region of south-central British Columbia adjacent to the company’s Woodjam North property. Cariboo Rose trades on the TSX Venture exchange under the symbol “CRB”. 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.


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