Cariboo Rose Closes Private Placement with Gold Fields
August 17, 2010Vancouver, BC, August 17, 2010 – Cariboo Rose Resources Ltd. (TSX-V: CRB) (hereinafter referred to as “Cariboo Rose” or the “Company”) is pleased to report that the private placement financing announced on August 6, 2010 with Gold Fields Netherlands Services BV, a member of the Gold Fields Limited group of companies (NYSE: GFI) has been finalized. A total of 623,000 common shares of Cariboo Rose at a price of $0.321 per share were issued for gross proceeds of $200,000. The securities have a hold period and may not be traded until December 12, 2010.
Proceeds from the financing will be used for exploration work on the Company’s projects and general working capital.
J. William (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.
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 properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Cariboo Rose (40%) and Fjordland Exploration Inc. (60%); both properties are now under option to Gold Fields Horsefly Exploration Corporation. Additionally, Cariboo Rose has two other gold-copper exploration projects adjoining the Woodjam Properties, a gold exploration project in the White Gold District of the Yukon, and a copper exploration project south of BC’s Kemess mine. 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.
About Gold Fields Limited
Gold Fields is one of the world’s largest unhedged producers of gold, with attributable production of 3.6 million ounces(*) per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near-mine exploration projects at various stages of development. Gold Fields has total attributable mineral reserves of 81 million ounces and mineral resources of 271 million ounces. (*) Based on the annualized run rate for the first three quarters of fiscal 2010.
J. William Morton, P.Geo, President
Cariboo Rose Resources Ltd.