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Wednesday, December 05, 2007
Latest Drilling Confirms Southeast Zone Discovery at
Woodjam
Vancouver, B.C., December 5, 2007 - Cariboo Rose
Resources Ltd. ("Cariboo Rose") (TSX-V: CRB) and Fjordland Exploration Inc. ("Fjordland")
(TSX-V: FEX) are pleased to report that hole 07-79, the fourth hole into the
newly discovered Southeast Zone at the Woodjam property, has intersected 207.45 metres of
copper-molybdenum mineralization. Hole 07-79 encountered chalcopyrite and
molybdenite mineralized quartz monzonite from the bed rock surface at 145.2 metres to 352.65 metres. The
final 3.9 metres
of the hole (348.75-352.65
metres) encountered a cross-cutting, post
mineralization basaltic dyke similar to a 1.5 metre dyke seen
further up the hole and the mineralization in this hole is expected to
continue beyond the dyke and is therefore considered to be open ended. Hole
07-79 was stopped here due to machine limitations and seasonal
considerations.
Hole 07-79 was drilled as a follow-up hole to 07-78 (3 metres from 07-78),
which was lost at bedrock where mineralization was encountered (0.38% copper
and 0.012% molybdenum over 1.17 metres). Hole 07-79 is a 310-metre step
out from hole 07-73, which in turn was a 500-metre step out from hole 07-72. All
three holes (07-79, 07-73, and 07-72) bottomed in copper / molybdenum
mineralization (excepting the dyke noted above in 07-79) over an open ended
distance of 810 metres.
The IP chargeability anomaly that formed the initial drill target measures 1,500 metres across
and remains largely untested. A map of the drill hole locations is available
at http://www.cariboorose.com/s/Woodjam.asp.
The 2007 program at Woodjam, initiated in February 2007 with an extensive
induced polarization survey (approximately 100 line kilometres), was designed
to test for mineralization on a property-wide basis additional to the
copper-gold mineralization explored for over the last several years in the
Megabuck Zone (four kilometres to the northwest of the Southeast Zone). Several
target areas were tested in 2007 including holes 07-72, 07-73, 07-78 and 07-79 in what has since been
named the Southeast Zone. Eight diamond drill holes (2,388 metres) were
completed in total with results for four holes, including hole 07-79, still
not received but expected by mid-January.
The Woodjam 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. The project is located in a low elevation, relatively flat and dry
timbered landscape, close to hydroelectric power and a natural gas pipeline.
The Woodjam Joint Venture is planning an aggressive drilling program for
2008. Core from the recent Southeast Zone discovery will be displayed at the
Resource Investment Conference http://www.cambridgehouse.ca/ch_jan2008.html)
to be held in Vancouver in January 2008. Select photographs of some of the
mineralized core have been posted by both companies on their respective web
sites.
The 2007 drilling program and sampling protocol are being supervised by Bruce
Laird P.Geo., of Mincord Exploration Consultants Ltd. G. L. Garratt, P.Geo.
is the qualified person who has reviewed and takes responsibility for this
news release.
J.W. Morton
J.W. (Bill) Morton, P.Geo.
President
Contact: Paul Way, Business Development Manager
(604) 681-7913
Toll Free: 888-656-6611
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 and currently operates
five mineral exploration projects in Western Canada. It was spun off from
Wildrose Resources Ltd. (TSX-V: WRS) in 2006, to allow Wildrose to focus on
the Spanish Mountain Project. 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.
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.
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