Woodjam Project: Southeast Zone Drilling Intersects 200.76 m of 1.01% Copper and 0.44 g/t Gold

Vancouver, BC, October 14, 2008 – Cariboo Rose Resources Ltd. (TSX-V: CRB) is pleased to report that the Woodjam Joint Venture, comprised of Cariboo Rose Resources Ltd. (40%) and Fjordland Exploration Inc. (TSX-V: FEX) (60%) has intersected 200.75 m grading 1.01 % copper and 0.44 g/t gold in drilling on the Southeast Zone at the Woodjam property in central British Columbia. Drilling on the Southeast Zone is scheduled to re-commence next week. Reconnaissance drilling on the Takom and newly-discovered Deerhorn zones has just been completed; results are pending.

The drill results for the previously unreported seven Southeast Zone drill holes are summarized as follows:

Hole ID From (m) To (m) Core Length (m) Cu % Mo % Au g/t
WJ-08-84 129.24 356.01 (eoh) 226.77 0.93 0.003 0.40
including 129.24 330.00 200.76 1.01 0.002 0.44
including 264.00 309.00 51.00 1.61 0.004 0.84
WJ-08-85 158.5 356.68 (eoh) 198.18 0.31 0.004 0.06
including 158.50 230.00 71.50 0.41 0.005 0.08
WJ-08-86 88.39 419.71 (eoh) 331.32 0.20 0.009 0.03
including 360.00 415.00 58.00 0.31 0.026 0.05
WJ-08-88 134.11 355.70 (eoh) 221.59 0.46 0.013 0.05
including 134.11 314.00 179.89 0.50 0.012 0.05
including 160.63 182.27 21.64 0.82 0.010 0.05
WJ-08-89 140.21 392.28 (eoh) 252.07 0.28 0.009 0.06
including 154.53 297.00 142.47 0.33 0.010 0.07
WJ-08-90 89.31 422.76 (eoh) 333.45 0.26 0.022 0.04
including 89.31 165.00 75.69 0.40 0.011 0.06
WJ-08-91 130.06 395.33 (eoh) 265.27 0.12 0.005 0.02
including 190.00 244.00 54.00 0.22 0.010 0.03

(* WJ-08-87 was drilled in the Takom Zone and will be released when the results are available) (eoh = end of hole)

To date, fifteen vertical drill holes totaling 6,059 m have now been completed in the Southeast Zone and all are mineralized from the bedrock interface to the bottom of the holes. Twelve of these holes have been drilled in a grid pattern with drill spacing of approximately 100 m within an area of 300 m by 550 m. The deepest hole was approximately 700 m. Drill hole WJ-08-84 intersected a high-grade zone through its full length that is believed to reflect a more intensely altered and veined “core zone” within a large well-mineralized monzodiorite to quartz-monzonite intrusion. The last sample interval in this hole assayed 0.67 % copper, 0.104 g/t gold and 0.009 % molybdenum. Similar mineralization (e.g. 71.93 m grading 0.80 % copper, 0.123 g/t gold and 0.003 % molybdenum) was encountered in the upper portion of previously reported drill hole WJ-08-83, located 100 m to the northeast, indicating that this high-grade mineralization may have continuity over a large area. In conjunction with this higher-grade copper zone are significantly higher gold values.

All of the drilling in the 1.5 km by 1.0 km IP geophysical target has intersected mineralization, indicating the potential for greatly expanding the mineralized zone. Less than 1/3 of the target has been tested. Tom Schroeter, President of Fjordland, stated “The Joint Venture is extremely pleased with these results which show not only higher copper grades but also significantly enhanced gold values.

The mineralization displays very even distribution and continuity, which gives us great confidence in the strength of the system and the potential for expanding the zone. It is not unusual that within large zones of economic grade open-pittable resources there are high grade centres or keels, as evidenced at Imperial Metals’ Mount Polley, BC mine and at the Ridgeway Deeps mine at Cadia Hill, Australia. The Ridgeway deposit forms the underpinnings of a major company – Newcrest Mining.”

The Woodjam Project is rapidly developing into an important prospective copper-gold-molybdenum district in the Quesnel Terrane, BC, with four large mineralized target areas and the recent drilling results from the Southeast Zone. The Joint Venture is continually reviewing other similar deposits in its evaluation of the potential of the Woodjam Project. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) 2 Acid Digestion (1D) procedures, with gold and silver values determined using fire assay procedures. Re-analyses of samples assaying in excess of 10,000 ppm copper were performed by ICP-ES 4 Acid Digestion (7AR) procedures. External standards were inserted into the sample sequence at a ratio of approximately one standard per twenty-five samples. Bruce Laird, P.Geo., 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.

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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