Higher Grades Encountered in Southeast Zone of Woodjam Project

Vancouver, BC, June 15, 2008 – Cariboo Rose Resources Ltd. (“Cariboo Rose”) (TSX-V: CRB) and Fjordland Exploration Inc. (“Fjordland”) (TSX-V: FEX) are pleased to report assays from the fourth hole of the initial 2008 diamond drilling program at the Woodjam porphyry copper-molybdenum-gold project in central British Columbia. Hole 08-83 intersected 402 metres grading 0.39% copper, 0.006% molybdenum and 0.077 g/t gold, with the top 215 metres of this interval carrying 0.52% copper, 0.003% Molybdenum and 0.111 g/t gold.

Hole 08-83 represents a 78 metre step-out to the south from hole 07-79. The higher grade intersection of copper, along with elevated gold, is very encouraging with the proximity of the Megabuck and Takom zones to the northwest and west respectively, which carry significant amounts of gold as well as copper. A summary of results for hole 08-83, along with the results of previously released holes 07-79 to 08-82, is provided in the following table:

Drill Hole From (m) To (m) Core length (m) Cu% Mo% Au g/t
08-83 128.63 530.66 402.03 0.39 0.006 0.077
including 128.63 344.0 215.37 0.52 0.003 0.111
including 128.63 200.56 71.93 0.63 0.003 0.123
Previously Reported
07-79 145.2 348.8 203.6 0.34 0.014 0.047
08-80 189.9 581.6 391.7 0.22 0.012 0.046
08-81 172.2 393.2 221.0 0.28 0.016 0.060
08-82 129.5 700.4 570.9 0.24 0.013 0.038
All holes bottomed in mineralization and were lost due to bad ground conditions or rig capability.

The style and grades of mineralization in the Southeast Zone are comparable with those at significant copper-molybdenum mines in BC such as Teck Cominco’s (TSX: TCK.B) Highland Valley Copper deposit (2007 reserves of 318.7 Mt grading 0.43% Cu and 0.008% Mo) and Taseko Mines’ (TSX: TKO) Gibraltar deposit (2007 reserves of 383.6 Mt grading 0.31% Cu and 0.009% Mo).

A total of seven holes have now been drilled and reported for the Southeast Zone; and all are mineralized from the bedrock surface to the bottom of the hole. Between February and May 2008, four holes (08-80 to 08-83) totaling 2,206 metres were completed on the Southeast Zone. Mineralization appears to correlate well with an IP chargeability anomaly that measures 1.5 km by 1.0 km. The Southeast Zone is open to expansion to depth and in all directions; the joint venture companies are optimistic about the potential to outline a large tonnage of mineralized material.

Drilling on the Southeast Zone was terminated in mid-May due to spring conditions. Drilling will recommence later this month, with a minimum of 3,000 metres of drilling on the Southeast Zone. Holes will be drilled at a minimum of 100 metre spacing.

The companies have also received the final results from their 88-line-kilometre induced polarization and 54-line-kilometre magnetic surveys. Several new anomalies have been identified, including the significant expansion westwards onto the newly acquired Magalloy option of the Takom copper-gold zone, which now measures 3.0 km by 3.0 km. These anomalies include several high priority targets for follow-up drilling.

Analyses were performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) procedures, with gold and silver determined using fire assay procedures. External standards were inserted into the sample sequence at a ratio of one standard per twenty-five samples. Bruce Laird, P.Geo, of Mincord Exploration Consultants Ltd. is supervising the 2008 drilling program and sampling protocol.

Glen 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.

Glen Garratt
G. L. Garratt, P.Geo., Director

The TSX – Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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