Drilling at Woodjam South Yields 401 m Grading 0.30% Copper and 0.006% Molybdenum; Southeast Zone Expanded to 1500 by 600 Metres

Vancouver, BC, October 4, 2010 — Cariboo Rose Resources Ltd. (TSX-V: CRB) and Fjordland Exploration Inc. (TSX-V: FEX), 40%-60% partners in the Woodjam Joint Venture (“WJV”), report that Gold Fields Limited’s (NYSE: GFI) exploration company, Gold Fields Horsefly Exploration Corporation (“Gold Fields”), has forwarded drilling results from the first seven holes (2,470 m) of the 2010 campaign on the 13,827-hectare Woodjam South copper-gold-molybdenum property. The property is located 45 km east of Williams Lake in south-central British Columbia.

Hole SE10-01 assayed 0.30% Cu, 0.07g/t Au and 0.006% Mo over 400.9 m. It was collared 200 m south-southwest of hole WJ08-84 which assayed 359.1 m grading 0.69% Cu, 0.27g/t Au and 0.006% Mo, including 200.8 m grading 1.01% Cu, 0.44g/t Au and 0.002% Mo.

Two holes (SE10-03 and SE10-05) were lost prematurely due to drilling difficulties. Hole SE10-06 was weakly mineralized with a few narrow intersections grading over 0.13% copper.

Hole SE10-07 was highlighted by a 234.6 m interval grading 0.24% Cu, including 83.6 m grading 0.38% Cu and 0.001% Mo. The hole was terminated in well-mineralized rock and the last 51.6 m averaged 0.45% Cu, 0.05g/t Au and 0.002% Mo.

The focus of this year’s drilling on the Southeast Zone was to expand the limits of the mineralized zone, as suggested by a 2-km by 1-km induced polarization anomaly. Wide-spaced drilling of the seven holes reported below has now extended the area of mineralization to 1,500 m by 600 m. The new holes include SE10-04 and SE10-07, a 400-m step-out to the south and 280-m step-out to the north from previous drilling, respectively. As with the previous drilling of 18 holes during 2007-2008, all holes continue to be mineralized from the overburden/bedrock interface to the bottoms of the holes, except for two occurrences of host rock displacement by narrow, younger basalt dykes.

Southeast Zone: Summary of Significant Intercepts

Hole ID From (m) To (m) Int. (m) Cu% Au g/t Mo% Cu Eq %
SE10-01 104.1 505.0 400.9 0.30    0.07 0.006 0.38
including 104.1 203.0   98.9 0.34 0.13 0.002  0.43
SE10-02    81.4 408.0 326.6 0.10  0.02 0.005  0.14
including    81.4 127.0   45.6 0.18  0.04 0.002 0.21
including 332.0 372.0  40.0 0.10 0.01 0.002 0.20
SE10-04 152.5 325.0 172.5 0.19 0.02 0.001 0.29
including 277.0 293.0 16.0 0.29 0.02 0.004 0.53
    SE10-07 176.9 411.6* 234.6 0.24 0.03 0.001 0.31
including  328.0 411.6*   83.6 0.38 0.04 0.001 0.49
including 360.0 411.6* 51.6 0.45 0.04 0.002 0.57

Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb copper, US$950/oz Au and US$15/lb Mo and the formula: ((%Cu x 22 x Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz) + (%Mo x 22 x Price Mo/lb))/ (Price Cu/lb x 22). * = end of hole.

Vein, fracture and disseminated porphyry-style mineralization in the Southeast Zone, consisting of chalcopyrite, pyrite, molybdenite and trace bornite associated with potassic and phyllic alteration zones, is hosted by the Takomkane quartz monzonite intrusion and related aplite dykes.

Drilling is continuing as part of a planned 5,000-m drilling program. In addition, a planned 75 line-km induced polarization geophysical surveying is in progress over the broad, unexplored area lying to the southwest of the Southeast Zone.

Fjordland President Tom Schroeter said, “The ongoing intersection of continuous copper-gold-molybdenum mineralization in the Southeast Zone has significantly increased the size potential of the system. We look forward to building on this size, which remains open laterally in all directions and at depth, as well as determining the grade potential.”

Core samples were analyzed by ALS Chemex Laboratories, a certified facility in Vancouver, BC. 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.

Woodjam North Update

Phase Two drilling is underway at the adjoining Woodjam North gold-copper property where approximately 5,000 metres of drilling is planned. Work at Woodjam North also includes a 26 line-km induced polarization survey to identify further exploration targets.

Glen Garratt, P.Geo, Director.
Cariboo Rose Resources Ltd.

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

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