Vancouver, BC, June 26, 2008, Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) and Fjordland Exploration Inc. (“Fjordland”) (TSX-V: FEX) report that re-analyses of the ICP-ES over-limit samples from drill hole 08-83 in the Southeast zone of the Woodjam property, central British Columbia, has resulted in a significant upgrading of results previously reported in a news release dated June 15, 2008.
A summary of revised results for hole 08-83 is provided in the following table:
Core length (m)
The hole bottomed in mineralization and was stopped due to bad ground conditions.
Nine samples returned values in excess of the maximum geochemical detection limit of 10,000 ppm (1.0%) copper and had to be re-analyzed. A 10.9 metre interval (180.6 to 191.5 metres) included seven of these samples and averaged 2.12% copper. This interval represents a quartz vein rich in copper mineralization that nearly parallels the drill hole. Two other narrower intervals of similar higher-grade vein mineralization, assaying 1.34% copper over 2.0 metres and 2.10% copper over 1.2 metres, were encountered lower in the hole further indicating the potential for higher-grade zones. True widths cannot be determined at this stage.
Tom Schroeter, president of Woodjam JV partner Fjordland commented, “This style of mineralization has not been observed in previous drilling and indicates potential for the existence of higher grade zones where such veins may concentrate in a stockwork.”
A drill and crew have been mobilized to the site and are anticipated to begin the next phase of drilling within a week. The joint venture has budgeted a 4,000 metre program that will continue to expand the Southeast Zone with 100 metre step-outs. The Southeast Zone was a new discovery of copper-gold-molybdenum mineralization in late 2007 and is rapidly moving the Woodjam Joint Venture toward becoming a significant new player in the advancement of the prolific Quesnel Terrane Copper Belt.
Detailed drilling has only tested an area 200 metres by 200 metres along a 1.5 km long IP geophysical anomaly. Two reconnaissance holes were drilled 275 meters south and 750 metres to the southwest of the detailed drill area and both were mineralized from the bedrock interface to the bottom of the hole. All seven holes drilled to date in the Southeast Zone are mineralized top to bottom.
Initial analyses were performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES- 2 Acid Digestion-ID) procedures, with gold and silver determined using fire assay procedures. Re-analyses were performed by ICP-ES 4 Acid Digestion 7TD. External standards were inserted into the sample sequence at a ratio of one standard per twenty-five samples. Bruce Laird, P.Geo, of Mincord Exploration Consultants Ltd. is supervising the 2008 drilling program and sampling protocol. G.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
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 exposure by securing third party exploration financing on the majority of its projects. The other companies in the Eastfield Group are 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.
Cariboo Rose Resources Ltd.
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
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.