Candorado Operating Company Ltd. Drills 38 Meters of 0.23% Copper and 0.41g/t Gold
and 32 Meters of 0.52g/t Gold At Man/Prime Property

KELOWNA, BRITISH COLUMBIA, June 29, 2007

Candorado Operating Company Ltd. (the "Company") (TSX VENTURE: "CDO" FRANKFURT/BERLIN: "HQU") is pleased to report assay results from the first hole of the Phase I 2007 drill program on the Man/Prime property near Princeton, British Columbia. Hole 694-001, at grid location 9300N 10300E, was drilled vertically to a depth of 280 meters. A 7th hole of the drill program is currently being completed and results will be released when available.

A 38.0-metre intersection, from 50.1 to 88.1 m, assayed 0.23% copper and 0.41 grams per ton gold. Based on $US 3.00/pound for copper and $US 20.00/gram for gold, this equates to 0.36% equivalent copper (eCu). Within this interval, a 14.0-meter section from 62.1 to 76.1 m assayed 0.51% Cu and 0.39 g/t Au, with an eCu value of 0.63%. The 38-m intersection is within an 85-m section of anomalous copper values.

From 162.1 to 194.1 m, a 32.0-metre intersection assayed 0.52 g/t gold. Anomalous copper values are associated with this gold zone.

All drilling on the properties being conducted by Frontier Drilling Corp. of Kamloops.

A 58 line-kilometer IP survey has been completed by Peter E. Walcott and Associates Ltd. Drilling of geophysical targets delineated in this survey will comprise a Phase II drill program.

Quality Assurance

Exploration on the Man/Prime property is being conducted under the supervision of W.R. Gilmour, P.Geo, of Discovery Consultants, a "qualified person" as defined by National Instrument 43-101.

All drill core is being split, half the core being sent to Acme Analytical Laboratories Ltd in Vancouver, British Columbia for analysis. A fire assay method is being used for the gold analysis. A QA/QC protocol, including blank, duplicate and standard samples, has been established to ensure reliable interpretation of the analytical data.

About Candorado

Candorado Operating Company Ltd (CDO: TSX-V) is a mineral exploration company focused on copper-gold exploration in the Quesnel Trough of British Columbia. Candorado has an option to purchased an 80% interest in the Man/Prime form Bearclaw Capital Corporation ("Bearclaw") (BRL: TSX-V).

William Gilmour, P.Geo, a consultant to Candorado, a director of Bearclaw and a "qualified person" as defined by National Instrument 43-101, has reviewed the information in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.

Rene Bernard                                                                     Renmark Financial Communications Inc.
Tel: (250) 878-8593                                                          Barry Mire: bmire@renmarkfinancials.com
Fax: (250) 860-2957                                                         Christine Stewart: cstewart@renmarkfinancial.com
www.candorado.com                                                         Tel: (514) 939-3989
            &n bsp;                                                                             Fax: (514) 939-3717
                                                                                    & nbsp;     www.renmarkfinancial.com

THE STATEMENTS MADE IN THIS NEWS RELEASE MAY CONTAIN CERTAIN FORWARD-LOOKING STATEMENTS. ACTUAL EVENTS OR RESULTS MAY DIFFER FROM THE COMPANY'S EXPECTATIONS. CERTAIN RISK FACTORS MAY ALSO AFFECT THE ACTUAL RESULTS ACHIEVED BY THE COMPANY.THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY AND ACCURACY OF THIS RELEASE.