Drilling at Woodjam North (Deerhorn Zone) Intersects 160.3 m Grading 1.03g/t Gold and 0.25% Copper, Including 39.6 m Grading 2.07g/t Gold and 0.47% Copper

Vancouver, BC, May 12, 2011 – Fjordland Exploration Inc. (TSX-V: FEX) and Cariboo Rose Resources Ltd. (TSX-V: CRB), 60%-40% 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 drill results from an additional 4 holes of the 2011 drilling program on the Deerhorn Zone of the Woodjam North gold-copper property. The property is located 45 km east of Williams Lake in south-central British Columbia.

The focus of this phase of drilling has been on the southwest side of the Deerhorn geophysical anomaly. Holes previously defining the mineral trend are DH09-03, 10-04, 05, 20, 21, 23, 25 and DH11-26. The higher-grade shoot appears to plunge moderately to the southeast and has dimensions of approximately 300 m in strike, 100 m in width and 200 m in depth and remains open. This higher grade shoot is enclosed within a much larger, lower grade envelope containing quartz (locally sheeted) with magnetite, vein-hosted and disseminated chalcopyrite mineralization in potassic-altered zones of fine-grained Nicola volcaniclastic rocks with interfingering monzonitic dykes.

The Phase One 2011 drilling program commenced on February 10th and ended on April 4th; 9 holes totaling 2,050.71 m were completed. Assay results for the remaining 4 holes are pending. The program was designed to expand the mineralized zone intersected in previously reported holes DH10-21 (156.6 m grading 1.14g/t Au and 0.29% Cu, including 64 m grading 1.92g/t Au and 0.26% Cu) and DH11-26 (151.5 m grading 0.83g/t Au and 0.21% Cu, including 68.8 m grading 1.17g/t Au and 0.35% Cu). Drilling continues to return very good results.

Deerhorn Zone Drilling Highlights:

** 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.

Hole DH11-27 was lost in a fault, just prior to reaching the target depth in the favourable Deerhorn latite tuff/ andesite sequence. Nonetheless, two mineralized intervals were encountered; the last 18.2 m assay interval ends at the bottom of the hole and the gold values appear to be increasing at the bottom.

Holes DH11-28 and 29 were terminated in a fault zone at 74.98 m and 153.60 m respectively, prior to reaching the target depth.

Hole DH11-30 intersected disseminated, fine-grained chalcopyrite with magnetite and hematite hosted by fine-grained volcaniclastic rocks and narrow monzonitic dykes between 65 and 225.3 m. This 160.3-m interval assayed 1.03g/t Au and 0.25% Cu, including a high grade interval over 39.6 m grading 2.07g/r Au and 0.47% Cu, plus additional significant intervals (see Table). Below 225.3 m was an unmineralized monzonite body; the hole was lost at 261.8 m.

In addition, a second mineralization trend in the Deerhorn Zone, to the north of the zone reported in this release and with approximate dimensions of 700 m in length and 100 m in width, was previously indicated by drilling in 2010. No further testing has yet taken place on this trend.

The drill rig was moved to the Southeast Zone on the Woodjam South Property, where two drill rigs are now grid-drilling in anticipation of a resource calculation at the end of the program later this fall. Results from the Southeast Zone drilling will be released when they are received from Gold Fields.
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.

Contact:
Paul Way, Business Development Manager
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: pway@eastfieldgroup.com

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