News

2011 News

Vancouver, BC, October 26, 2011 – Cariboo Rose Resources Ltd. (TSX-V: CRB) (“Cariboo Rose”) is pleased to announce that La Quinta Resources Corporation (TSX-V: LAQ) (“La Quinta”) has received the first assays from drilling completed at the Carruthers Pass, B.C. volcanogenic massive sulphide (“VMS”) project in August 2011. The core samples were split and sent to ALS Minerals Laboratories in North Vancouver, B.C.

The Carruthers Pass volcanogenic massive sulfide project is located 70 km south of the Kemess copper-gold mine in the Omineca Mining Division. The project consists of 8 claims with 130 units, covering approximately 3,250 hectares. The project is under option by La Quinta from Cariboo Rose.

Initial drilling targeted massive sulphide mineralization approximately 10.0 m x 7.0 m where exposed in a talus slope beneath a cliff. The exposure appears to be a detached slab broken away from the adjacent cliff, based on results from this drill program. Drill hole CAR11-11A, used to anchor the drill, was oriented into the massive sulphide slab at an angle of at -80?? and intersected 2.5 m of massive sulphide before terminating in unconsolidated talus material at 5.0 m. A second hole was drilled from the same setup at a -45?? angle and intersected a 3.05 m thickness of similar VMS in contact with metagabbro, beneath which was talus. The collars of the two holes are approximately 0.80 m apart. True thickness of the intersections is not known as the slab material is not in situ.

Individual assays returned from the drill intervals were adjusted to account for core recovery and are as follows:









































































Hole #

Sample No.

Interval, m

(adjusted)

Sample

Au g/t

Ag g/t

Cu %

Zn%

CAR11-11A

CAR-1

0 – 1.50

Massive pyrite w/ chalcopyrite

2.44

129

3.20

3.90

CAR11-11A

CAR-2

1.50 – 1.90

Massive pyrite w/ chalcopyrite

2.97

194

6.19

4.81

CAR11-11A

CAR-3

1.90 – 2.50

Massive pyrite w/ chalcopyrite

1.89

268

13.80

5.93

CAR11-11

CAR-4

0 – 1.10

Massive pyrite w/ chalcopyrite

1.83

133

4.05

4.93

CAR11-11

CAR-5

1.10 – 1.70

Massive pyrite w/ chalcopyrite

1.64

182

5.06

5.85

CAR11-11

CAR-6

1.70 – 3.05

Gabbro,

Footwall

0.04

2.0

0.099

0.136



The slab lies approximately 225 m northeasterly of diamond drill hole CAR11-13 (assays pending), from which the northerly directional array of downhole induced polarization (“IP”) survey extended in the direction of the slab identified a body with responses of less than 10 ohm-m resistivity at depths of approximately 65.0 m. La Quinta believes that the VMS source for the slab is this responder. Based on surface and downhole IP surveys conducted this fall, Scott Geophysics Ltd. (Vancouver, B.C.) is finalizing a 3D model of the IP data. This report will be used to plan 2012 drill site locations and target depths. La Quinta plans to drill this area during 2012 field season; permits are already in place. Additional sulphide-bearing intervals were intersected in the 2011 drilling; assay results for those holes are pending.

Mr. Geoffrey Goodall, P. Geo., an independent qualified person as defined under Standards for Disclosure of Mineral Projects (“NI 43-101”) has supervised field activities including chain-of-custody protocols. Mr. J. W. Morton, P. Geo., President of Cariboo Rose, a qualified professional as defined under Standards for Disclosure of Mineral Projects (“NI43-101”) conducted core measurements for these samples and delivered them to ALS Minerals, North Vancouver, B.C.

The information contained in this news release has been reviewed, approved and deemed relevant by Walter Martin, La Quinta’s President, C.P.G., a qualified person as defined under Standards for Disclosure of Mineral Projects (National Instrument 43-101).

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. (TSX-V: FEX) (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.

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
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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