Southeast Zone Yields 349.9 m Grading 0.33% Cu
Vancouver, BC, May 19, 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 the first hole of the 2011 infill and expansion core drilling program on the Southeast Zone of the Woodjam South copper-gold-molybdenum property. The property is located 45 km east of Williams Lake in south-central British Columbia.
At Woodjam South, drilling commenced on the Southeast Zone on March 16th, the beginning of a 15,000 metres (m) drilling program (5,000 m infill, 6,000 m expansion drilling and 4,000 m unallocated) on the main target in the core area measuring 800 m by 630 m to a depth of 400 m. A number of the drill sites are planned to allow calculation of an inferred pit-constrained NI 43-101 compliant resource by the end of 2011. In addition, a program of reverse circulation drilling will test other targets on the southern part of the Woodjam South property. This work program is part of the $5 million budget announced by Gold Fields for 2011 (see News Release dated March 2, 2011). A drill location map may be viewed atwww.cariboorose.com
Southeast Zone Drilling:
| Hole ID | From (m) | To (m) | Int. (m) | Cu% | Au g/t | Mo% | Cu Eq % |
|---|---|---|---|---|---|---|---|
| SE11-21 | 157.3 | 507.2* | 349.9 | 0.33 | 0.05 | 0.011 | 0.42 |
Table Notes: 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. Metallurgical recoveries and net smelter returns are not considered.
Hole SE11-21 was collared between holes SE10-12, WJ08-88 and WJ08-85, along the interpreted southwestern portion of the higher-grade core area, and encountered copper-molybdenum mineralization from the top of the bedrock to the end of the hole at 507.2 m. The 349.9-m interval assayed 0.33% Cu, 0.011% Mo and 0.05g/t Au. Mineralization is hosted by quartz monzonite and occurs primarily in veins and as disseminations. Drilling is ongoing utilizing two machines.
To the end of 2010, a total of 38 diamond drill holes (14,544 m) have been completed on the Southeast Zone. All holes are mineralized from the bedrock interface to the bottoms of the holes, with the exception of one reconnaissance hole (SE10-20), drilled approximately 800 m north of the northern-most mineralized hole (SE10-07) and for two occurrences of host rock displacement by narrow, younger basalt dykes. The current drilling program is targeting mineralization to depths of greater than 450 m; however, the deepest hole to date (WJ08-82) is just over 700 m and ended in mineralization. The best hole drilled to date (WJ08-84) averaged 0.69% Cu, 0.26g/t Au and 0.006% Mo over 359.1 m, including 1.01% Cu, 0.44g/t Au and 0.002% Mo over 200.8 m.
Elsewhere over the 2-km by 1-km induced polarization anomaly on the Southeast Zone, reconnaissance drilling of three holes, SE10-04 (previously reported) and SE10-06 and SE10-11 (not previously reported) to the south of the core area currently being drilled off intersected interesting but low-grade copper and molybdenum mineralization hosted by quartz monzonite. Thus, mineralization has been discovered over a total length of approximately 1500 m and width of 630 m.
Fjordland President Tom Schroeter says: “The initial assay results from this infill and expansion drilling program are very encouraging and have the potential to expand the mineralized zone already defined in the Southeast Zone. We look forward to continuing positive results from this program, culminating in a 43-101 inferred resource before the end of 2011.”
Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. Tom Schroeter, P.Eng./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
