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2011 News

Cariboo Rose Resources Announces the Discovery of a New Gold-In-Soil Anomaly Trend at the Canadian Creek Property, Yukon

November 15, 2011

Highlights:

  • Grid soil geochemistry sampling results have outlined the Canadian Creek trend, an extensive 7.5 kilometre by 2.0 kilometre new gold-in-soil anomaly trend that significantly extends the historic gold-in-soil trend.

  • Major structural zone (>10 kilometres along strike) identified is sub-parallel to the Canadian Creek trend and may represent a significant control on gold mineralization on the property.

  • Highest new gold-in-soil value within the Canadian Creek trend is 0.97 g Au/t, with historic gold-in-soil values up to 2.29 g Au/t.
Vancouver, BC, November 15, 2011 – Cariboo Rose Resources Ltd. (TSX-V: CRB) (“Cariboo Rose”) is pleased to announce that Castillian Resources Corp. (“Castillian”) (TSX-V: CT) has reported the results of its 2011 exploration program at the Canadian Creek property. The property consists of 320 claims covering approximately 6,180 hectares located 160 kilometres south of Dawson, approximately 50 kilometres southeast of Kinross Gold Corporation’s White Gold discovery and 25 kilometres southeast of Kaminak Gold Corporation’s Coffee Gold discovery. Work completed in 2011 included soil geochemistry grid sampling, detailed ground magnetic surveys, induced polarization surveys, trenching, and geological mapping. Assay results are pending for the trench samples. The spring 2012 program will include diamond drilling, additional trenching and induced polarization (IP) surveys.

A total of 5,660 soil geochemical samples including QA/QC duplicates were collected in 2011 at 50 metre intervals on lines spaced 200 metres, with in-fill sampling on 100 metre lines over areas with prospective gold-in-soil anomalies. In addition fill-in sampling was completed in some of the areas with historic soil sampling particularly in the northeast part of the property to better define existing anomalies. Soil results (> 40 ppb Au) define an extensive gold-in-soil anomaly with a strike length of 7.5 km and a width of 2.0 km. This new gold-in-soil anomaly which is 3.5 km in strike length extends a historic gold-in-soil anomaly on the property, previously named the Casino “B” trend, to form one large gold-in-soil trend that is 7.5 km long by 2.0 km wide, named the Canadian Creek trend.

The highest gold-in-soil results of the 2011 survey were returned in the eastern 3.0 km adjacent to the boundary with the Casino property. The anomaly in this area consists of a total of 310 samples, of which 56% or 173 are considered to be anomalous (above 40 ppb), with values ranging from < 1ppb to 970 ppb (0.97 g Au/t). Historic gold-in-soil values within this trend range from <1ppb to 2289 ppb (2.29 g Au/t).

A 391 line-kilometre detailed magnetic survey was completed in 2011 on the Canadian Creek property. A structural interpretation of this survey suggests that the Canadian Creek property contains a major ENE-WSW trending structural zone that is sub-parallel with the trend of the extensive gold-in-soil anomaly and may provide a significant control on gold mineralization on the property. The structural zone was later modified by a series of north-northwest striking faults which may also be important for location of gold mineralization.

A limited induced polarization survey of five north-south lines spaced at 200 metre intervals totalling 10 line-kilometres was completed in the area of historic drill holes CC09-08 and CC09-10, which intersected 3.46 g Au/t over 1.5m and 1.09 g Au/t over 3.0 metres, respectively. This survey has outlined two distinct zones of elevated chargeability that appear to correlate with magnetic and gold-in-soil anomalies in the general vicinity of the historic drill holes. Further survey lines need to be completed to better define the full extent of the anomaly; however, initial results are encouraging.

The Canadian Creek property abuts Kaminak Gold Corporation’s (“Kaminak”) Coffee Gold property immediately south of the recently discovered “Sugar gold-in-soil trend” (see Kaminak’s press release dated December 2, 2010 and Figure 2). On its eastern claim boundary the property is bordered by the very large tonnage Casino copper-gold-molybdenum porphyry deposit owned by Western Copper & Gold Corp. Cariboo Rose has granted Castillian an option to acquire a 60% interest in the Canadian Creek property. (see press releases dated October 18, 2010 and January 28, 2011).

Mr. Tony Gilman, P.Eng., Consulting Geologist/Geological Engineer with Terrane Geoscience Inc., and Mr. Kevin Brewer, P.Geo., Manager, Yukon for Castillian, both of whom are qualified persons as defined by National Instrument 43-101 (“NI 43-101”), have reviewed and approved the scientific and technical content of this press release. Geophysical surveys were completed under the direction of Dr. Chris Hale, P.Geo., Chief Geophysicist for Castillian. Dr. Hale is a qualified person as defined by NI 43-101. G. Garratt, P.Geo., who is the qualified person for Cariboo Rose as defined by NI43-101, has read and takes responsibility for this news release.

Glen Garratt, P.Geo, Director.
Cariboo Rose Resources Ltd.

Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com

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 copper-gold-molybdenum properties (totaling 56,150 ha) belong to the Woodjam Joint Venture which consists of Cariboo Rose (40%) and Fjordland Exploration Inc. (TSX-V: FEX) (60%). Both properties are under option to Gold Fields Horsefly Exploration Corporation. Cariboo Rose and Fjordland have recently announced plans to amalgamate their interest in both Woodjam properties and spin-out the properties to shareholders in the form of a new publicly listed company (See Cariboo Rose news release of June 29, 2011). Other properties include the Canadian Creek copper-gold property located in the White Gold District of the Yukon optioned to Castillian Resources Corp. (TSX-V: CT); the Cowtrail gold property optioned to Dajin Resources Corp. (TSX-V: DJI) located in the Cariboo region adjacent to and north of the company’s Woodjam North property; the Carruthers Pass copper-zinc-silver property in north-central British Columbia optioned to La Quinta Resources Corporation (TSX-V: LAQ); and the Pat gold-copper property in the Cariboo region of south-central British Columbia adjacent to the company’s Woodjam North property. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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