Vancouver, BC, June 15, 2009 - Cariboo Rose Resources Ltd. (TSX-V: CRB) has signed a Letter of Intent Option Agreement with Alder Resources Ltd. (TSX-V: ALR) giving Alder the option to earn a 60% interest in the currently 100% Cariboo Rose owned Canadian Creek Property. The total area of the Canadian Creek claims is 4,800 hectares (12,000 acres). The Canadian Creek property is located in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property is also 50 km southeast of the Underworld Resources Inc. (TSX-V: UW) owned White Gold project and approximately 25 km southeast of Kaminak Gold Corp.’s Coffee property.
Alder can earn a 60% interest in the Property by completing certain cash payments (totaling $250,000) to Cariboo Rose, issuing a total of 250,000 shares in its capital to Cariboo Rose, and fulfilling designated exploration expenditures on the property totaling $2,500,000, within the time specified, all to be completed by June 18, 2013. Alder has given a firm commitment to complete the first $250,000 of work by June 18, 2010.
Alder has also committed to fund and complete an NI 43-101 compliant report on the Canadian Creek property by January 31, 2010. Upon Alder earning a 60% interest in the Canadian Creek property the parties shall be constituted a joint venture.
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.
Bill Morton, P.Geo., Director
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
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 gold, copper and molybdenum exploration projects in Western Canada. The company’s Woodjam North property is under option to the Gold Fields Limited group of companies (NYSE: GFI). 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. Other affiliated companies in the group include 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.
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.