|
|
Monday, June 15, 2009
Cariboo
Rose Options Canadian Creek Property, White Gold District, Yukon
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
Bill Morton, P.Geo., Director
Contact:
Paul Way, Business Development Manager
Phone (604) 681-7913, Toll Free: 888-656-6611
email: 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. 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.
|
|