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Wednesday,
July 23, 2008
Second Drill Rig Added To Woodjam Project, BC
Vancouver, BC, July
23, 2008 - Cariboo Rose Resources Ltd. ("Cariboo Rose") (TSX-V:
CRB) and
Fjordland Exploration Inc. ("Fjordland") (TSX-V: FEX) are pleased
to report that a second drill rig has been mobilized to the Woodjam project,
located in the road accessible Cariboo region of central British Columbia. Cyr
Drilling is expected to arrive on the property later in the week to drill
test the Southeast Zone with 2,000 to 2,500 meters planned. The existing
drill on site will move to reconnaissance drilling on the Takom and Deerhorn
zones.
During the spring of 2008, four drill holes totalling 2,206 meters were
completed on the Southeast Zone during Phase one drilling. These holes focused
on grid drilling an area 200 meters by 200 meters, within a 1.5 km long
induced polarization (IP) chargeability anomaly. All seven holes
drilled to date in the Southeast Zone have intersected porphyry-style
mineralization from the bedrock surface to the bottom of the holes. Two of
these holes (07-72, 07-73) lie 700 meters to the southwest and 250 meters to
the south, respectively, from the detailed drilling area. All of the holes
were stopped either because of drill rig capability or bad ground conditions.
The last hole of this Phase 1 program (08-83) assayed 0.44% copper, 0.006%
molybdenum and 0.079 g/t gold over 402 meters which included 0.80% copper,
0.003% molybdenum and 0.123 g/t gold over 71.93 meters.
In late June 2008, the Phase two drill program commenced on the Southeast
Zone (see News Release dated June 26, 2008). Hole 08-84, which is a 100-meter
step-out to the southwest of hole 08-83, is currently nearing completion.
Upon completion of this hole, the drill rig will move on to test selected IP chargeability
anomalies over copper-gold targets in the Takom (one hole) and Deerhorn (two
holes) anomalies, located west and north of the Southeast Zone, respectively.
The Takom hole will be located approximately 90 meters north of hole 07-77
which assayed 0.3% copper and 0.31 grams per tonne gold over 39 meters. The
two Deerhorn holes will test a previously undrilled area, east-northeast of
the Megabuck copper-gold zone where a potentially significant amount of
copper-gold mineralization has been outlined.
With mineralization observed in hole 08-84 similar in character to that in
08-83, the Woodjam Joint Venture is very encouraged about the potential to
significantly expand the size of the Southeast Zone. Drilling on this zone is
expected to continue until September.
Core samples will be submitted to Acme Analytical Laboratories, a certified
facility in Vancouver, BC. Bruce Laird, P. Geo., of Mincord Exploration
Consultants Ltd. is supervising the 2008 drilling program and sampling
protocol. G.L. Garratt, P.Geo., who is a qualified person within the context
of National Instrument 43-101, has read and takes responsibility for this
news release.
G.L.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:
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
mineral exploration projects in Western Canada, two of which border the
Woodjam property. 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. The other companies in the
Eastfield Group are 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.
You can also view this News Release on our website at: http://www.cariboorose.com/s/NewsReleases.asp?ReportID=312815
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