Fjordland Exploration Inc.
510 Burrard Street, Suite 510
Vancouver, BC V6C 3A8
Tel: 604-893-8365
www.fjordlandex.com
NEWS RELEASE
Gold Fields Initiates $3 Million Program at Woodjam North Gold � Copper Property, British Columbia
Vancouver, BC, September 23, 2009 � Fjordland Exploration Inc. (TSX-V: FEX) and Cariboo Rose Resources Ltd (TSX-V: CRB), Woodjam Joint Venture partners, are pleased to report on the progress of Gold Fields Horsefly Exploration Corporation�s (a member of the Gold Fields Limited group of companies (NYSE: GFI)) exploration program on the Woodjam North gold-copper project, located 45 kilometres east of the city of Williams Lake in central British Columbia. Since signing the Option and Joint Venture Agreement granting an option to Gold Fields to earn up to a 70% interest in the property by spending $19 million in exploration over the next 7 years (see July 30, 2009 news release for details), Gold Fields has launched a systematic exploration program, with a budget of about $3 million in the first year on the 40,750-hectare property.
To date, Gold Fields has completed regional mapping, rock, silt and soil geochemical sampling over selected areas, geological mapping and prospecting, and a review of previous drill core from the Megabuck, Takom and Deerhorn zones.
Grid-based line cutting and a 75-line kilometre induced polarization (IP) geophysical survey have commenced, initially focusing on an area north of the Megabuck and Deerhorn zones. A 5,000-line kilometre low-level airborne magnetic and radiometric survey, covering both the Woodjam North property and the adjoining Woodjam Joint Venture�s Woodjam South property (not included in the Gold Fields Option), is scheduled to commence during the week of September 21, 2009.
A 6,000-metre diamond drilling program is planned to commence at Woodjam North in October. The initial drilling (4,000 metres) is designed to test the areal extent and depth potential of the existing Takom and Deerhorn gold-copper occurrences, each with previous drill results including 0.40 g/t gold and 0.26% copper over 127.3 metres, and 0.62 g/t gold and 0.25% copper over 51 metres, respectively. Additional drilling will be designed to test IP, magnetic and geochemical anomalies identified from new data generated during the early parts of the program. Although no drilling is planned on the Megabuck zone this year, a 200-metre wide mineralized envelope containing gold and copper mineralization has previously been outlined.
With respect to the adjoining Woodjam Joint Venture�s Woodjam South property, which includes the newly discovered Southeast Zone copper-gold-molybdenum occurrence, where drilling of hole 08-84 in 2008 intercepted 201 metres grading 1.01% copper and 0.44 g/t gold, the companies look forward to receiving the results of the airborne magnetic surveys that will be flown, as an extension of the survey by Gold Fields on Woodjam North. This data will be useful in developing additional new target areas on the Woodjam South property.
In addition, the Woodjam Joint Venture has recently expanded its Woodjam South holdings to total 13,388 hectares, and Fjordland has recently acquired a 100% interest in the Moffat gold-copper property, situated approximately 6 kilometres south of the WJV�s Southeast Zone and adjoining the Woodjam South property on the south (see Sept. 17, 2009 news release for details). The Woodjam Joint Venture continues discussions with Third Parties interested in advancing the Woodjam South property.
About Gold Fields Limited
Gold Fields Limited is one of the world�s largest unhedged producers of gold with annual attributable production of approximately four million ounces of from nine operating mines in Peru, Ghana, Australia and South Africa. The company has attributable ore reserves of approximately 83 million ounces and mineral resources of approximately 251 million ounces. In addition the company has an extensive exploration portfolio with highly prospective projects in all of the major gold provinces of the world.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Fjordland (60% interest) and Cariboo Rose Resources Ltd. (40%) comprise the Woodjam Joint Venture. Gold Fields Horsefly Exploration Corporation, a member of the Gold Fields Limited group of companies, may earn up to a 70% interest in the 40,750-hectare Woodjam North gold-copper property by spending $19 million on exploration over 7 years; a $3 million exploration program is currently in progress. The Woodjam Joint Venture, with Fjordland as operator, owns the Woodjam South property which adjoins the Woodjam North property. Fjordland and Serengeti Resources Inc. (TSX-V: SIR) each hold a 50% interest in the QUEST project to explore 11 properties totalling approximately 100,000 hectares in the heart of British Columbia�s Quesnel Terrane for precious and base metals. The Mil gold property is scheduled for drilling this fall. Shares of Fjordland Exploration Inc. trade on the TSX Venture Exchange under the symbol �FEX�. For further information visit the Company�s website at www.fjordlandex.com.
Tom Schroeter
President & CEO
Contact:
John Gomez,
Manager, Investor Relations
Tel. 604-893-8365
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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