Vancouver, BC, April 11, 2006 - Fjordland Exploration Inc. and Wildrose Resources Ltd. report that Fjordland has now earned a 60% interest in the Woodjam gold-copper porphyry property from Wildrose. Fjordland and Wildrose will form a joint venture and fund future exploration and development expenditures on a 60% - 40% basis. Fjordland will remain the operator of the project.
“Drilling to date at Woodjam continues to demonstrate the property’s potential to host large, bulk tonnage gold-copper deposits,” commented Victor Tanaka, President of Fjordland Exploration. “We look forward to working with Wildrose and accelerating our drilling program with the objective of defining a resource by year end.”
Fjordland acquired an option to earn a 60% interest in Woodjam in 2001. Terms of the deal required the Fjordland to issue to Wildrose 300,000 shares, make cash payments of $150,000 and complete $1,500,000 in work expenditures by October 31, 2006.
Fjordland also reports that the drill program that started at Woodjam at the end of February was recently completed. Seven diamond drill holes totalling 2,578 metres were undertaken, and drill results are expected to be available around the end of April. A second phase large-scale drill
program is planned to start in July following a review of analytical and geologic data from the latest drilling.
The Woodjam gold-copper porphyry property is located 10 kilometres from Horsefly in the Cariboo region of BC, and has excellent logistics and infrastructure. Mineralization at Woodjam is modeled after Northgate Mineral Corporation’s (TSX: NGX) Kemess deposit in northern British Columbia, and Newcrest Mining’s Cadia Hill deposit in Australia. Kemess commenced production in 1999 with a resource of 200 million tonnes grading 0.63 g/t gold and 0.22% copper while Cadia Hill commenced production in 1996 with a resource of 210 million tonnes grading 0.72 g/t gold and 0.18% copper.
Bill Morton is the qualified person (as defined in NI 43-101) who has reviewed this news release.
Bill Morton
President, Wildrose Resources Ltd.
110 – 325 Howe St., Vancouver, B.C. V6C 1Z7
Tel: (604) 681-7913/ Toll free (888) 656-6611
Email: jwmorton@eastfieldgroup.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news 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