Vancouver, B.C., February 12, 2008 - Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX) have started the 2008 exploration program for the Woodjam copper, gold and molybdenum porphyry project. This year’s program at Woodjam will include approximately 6,000 metres of diamond drilling to follow up the recent copper molybdenum discovery in the Southeast Zone (announced January 18, 2008) and continue more general exploration in other areas of the large claim group, which is over 36,000 hectares in size. The program will also include 100 line kilometres of induced polarization survey (some of it deep penetrating).
Drilling is scheduled to begin in the Southeast Zone in mid March with step-out drilling from last year’s discovery holes. The drilling is designed to test a large 1,500 metre by 1,000 metre IP chargeability anomaly that comprises the Southeast Zone. Hole 07-79, the most recently drilled hole in the Southeast Zone, intersected 203.5 metres of copper-molybdenum mineralization averaging 0.34% copper and 0.014% molybdenum from bedrock surface at 145.2 metres to a dyke at the bottom of the hole at 348.8 metres (the final 3.9 metres of the hole encountered a cross-cutting, post mineral basaltic dyke and the mineralization in this hole is thought to be open ended). A higher grade portion of this hole beginning at the bedrock surface graded 0.40% copper and 0.014% molybdenum over 113.8 metres.
The Woodjam Joint Venture has to date identified three open ended zones of porphyry mineralization; namely the copper and gold rich Megabuck and Takom Zones and the newly discovered copper and molybdenum rich Southeast Zone. The Joint Venture, 60% Fjordland Exploration Inc. and 40% Cariboo Rose Resources Ltd., is situated in the Cariboo Region of south-central British Columbia, approximately 55 kilometres east of the city of Williams Lake. Within 60 kilometres of Woodjam is Taseko Mines’ (TSX: TKO) Gibraltar copper-molybdenum mine, Imperial Metals Corporation’s (TSX: III) Mount Polley copper-gold mine, and Xstrata’s (LSE: XTA) past producing Boss Mountain molybdenum mine. The Woodjam project is located in a low elevation, relatively flat and dry timbered landscape, close to hydroelectric power and a natural gas pipeline.
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
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 its 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.
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