Woodjam North Deerhorn Zone Drill Hole Intersects 95.74 m Grading 0.53g/t Gold and 0.22% Copper

Vancouver, BC, January 11, 2011 – Cariboo Rose Resources Ltd. (TSX-V: CRB) “Cariboo Rose” 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 additional drilling results from the final three drill holes of the 2010 drilling program on the Woodjam North gold-copper property. The property is located 45 km east of Williams Lake in south-central British Columbia. During 2010, twenty-two drill holes totaling 6,430 m were completed, bringing the total drilling at Deerhorn between 2008 and 2010 to thirty-six holes totaling 10,707 m.

The highest gold-copper grades were intersected in drill hole DH10-23 that graded 0.53g/t Au and 0.22% Cu (0.92g/t Au Equivalent) over 95.74 m, including a higher-grade intercept of 41.2 m grading 0.89g/t Au and 0.26% Cu (1.35g/t Au Equivalent). A drill location map may be viewed athttp://www.cariboorose.com/i/maps/WJN-DH-Drilling.pdf.

Deerhorn Zone: Significant Drill Results


Hole ID

From (m)

To (m)

Int. (m)

Au g/t


Au Eq g/t






















*Au Equivalent in g/t calculated using US$950/oz gold, US$2.50/lb copper and the formula: ((g/t Au + (%Cu x 22 x Price Cu/lb)) / (Price Au/oz x 0.032151)). Metallurgical recoveries and net smelter returns are not considered. * = End of Hole.

Drilling of these three holes tested a possible lateral (to the southeast) and down-dip extension of mineralization cut in hole DH10-21 (156.6 m grading 1.14g/t Au and 0.29% Cu from 141.9 m, including 64 m grading 1.92g/t Au and 0.39% Cu from 212 m). Hole DH10-21 was collared approximately 90 m south of hole DH09-03 (89.5 m grading 1.16g/t Au and 0.26% Cu, including 26 m grading 3.25g/t Au and 0.6% Cu). The target depth of hole DH10-23 was approximately 350 m; however, the hole was lost in a fault zone at 237.7 m. Nonetheless, significant values of gold and copper were encountered and the area of mineralization remains open.

Holes DH10-24 and 25 were drilled to test the postulated eastern extension of the mineralization, but encountered weakly altered and mineralized volcanic rocks and monzonite dykes, with a number of individual elevated assay intervals. The geometry of this second area of mineralization at Deerhorn is still not well understood.

Drilling of a minimum of 1,500 m on the Deerhorn Zone and the Megabuck East Area, to the southwest, is scheduled to commence in February. Immediately adjoining the Deerhorn Zone to the northeast is the Teslin River Resources Corp.’s Rand property; Gold Fields has recently optioned this property and plans to drill three to four holes totaling about 1,200 m, starting in mid-January.

Tisdall Lake Area

Reconnaissance mapping and prospecting by Gold Fields during 2010 in the Tisdall Lake area, located at the northeastern edge of the Woodjam North property, resulted in the discovery of variable amounts of vein to disseminated chalcopyrite showings in dioritic and gabbroic outcrop and float. Rock samples collected assayed up to 0.3% Cu. The area is coincident with a large magnetic high. Follow-up soil sampling and reconnaissance induced polarization surveys (four lines spaced 500 m apart totaling 14 line-km) over the area of chalcopyrite showings and mag highs showed a broad area (2.0 km by 1.0 km) of anomalous soils (Cu, Zn, As, Fe) and a number of IP chargeability highs indicating a linear anomaly of at least 1,500 m in length. This discovery represents a new target in the Woodjam district. Follow-up ground magnetic surveys and drilling of selected targets is planned for 2011.

Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. 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, 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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