Drilling at Woodjam South Intersects 297 m Grading 0.49% Copper

Vancouver, BC, July 21, 2011 – 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 drill results from seven new holes (2,963 m) of the 2011 infill and expansion diamond drilling program, testing a previously defined core area of mineralization measuring 800 m by 630 m 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.

To date, 28 holes totaling more than 11,000 metres (m) have been completed in the 2011 program; further results will be reported in batches when received.

Southeast Zone Drilling:

Notes: Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb Cu, 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 SE11-25 was collared 50 m northeast of historic drill hole WJ08-84, which assayed 0.69% Cu, 0.26 g/t Au and 0.006% Mo, including 1.01% Cu, 0.44 g/t Au and 0.002% Mo over 200.8 m. Hole SE11-25 encountered copper-molybdenum mineralization from the top of the bedrock to the end of the hole at 412.4 m, and included a higher-grade interval assaying 0.55% Cu and 0.21 g/t Au over 151.8 m. The final 1.4 m of the hole assayed 0.39% Cu, 0.03 g/t Au and 0.003% Mo.

Hole SE11-34 was collared between holes SE11-14 and WJ08-86, approximately 175 m to the northwest of historic hole WJ08-84. Hole SE11-34 encountered copper-gold-molybdenum mineralization from the top of the bedrock to the end of the hole at 440.1 m, and included a higher-grade interval assaying 0.62% Cu, 0.08 g/t Au and 0.001% Mo over 148 m. The hole bottomed in well mineralized rock, including a 2-m interval from 435 to 437 m grading 0.93% Cu, 0.06 g/t Au and 0.022% Mo.

Hole SE11-35 was collared between holes SE11-08 and WJ08-95 to test the south-east extent of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the end of the hole at 398.1 m, and included a higher-grade interval assaying 0.37% Cu, 0.04 g/t Au and 0.001% Mo over the last 39.1 m of the hole. The final 2.1 m of the hole assayed 0.42% Cu, 0.04 g/t Au and 0.002% Mo.

Hole SE11-37 was collared midway between holes WJ08-86 and WJ07-73 to test the south-east extent of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the end of the hole at 398.1 m, and included a higher-grade interval assaying 0.30% Cu, 0.05 g/t Au and 0.015% Mo over 147.3 m at the bottom of the hole. The final 2.1 m of the hole assayed 0.21% Cu and 0.05 g/t Au.

Hole SE11-38 was collared approximately 75 m south-southwest of hole SE11-28 to test the south-southwestern extent of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the end of the hole at 395.0 m, except from 264.9 to 289.1 m where an unmineralized plagioclase porphyry dyke occurs. The final 2-m interval assayed 0.27% Cu, 0.03 g/t Au and 0.002% Mo.

Hole SE11-39 was collared between holes SE10-17, S10-12 and WJ08-88, to test for mineralization in the southwestern portion of the core area. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the bottom of the hole at 412.7 m, and included a higher-grade interval assaying 0.40% Cu, 0.06 g/t Au and 0.016% Mo over 165.5 m. The final 1.7-m interval assayed 0.30% Cu and 0.04 g/t Au.

Hole SE11-40 was collared midway between holes SE11-22 and WJ08-91, to test the south-southwestern extent of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the bottom of the hole at 406.3 m.

Assay results for holes SE11-23, SE11-30 and SE11-36 have not yet been approved under the project’s strict quality control/quality assurance procedures.

All 56 drill holes reported on the Southeast Zone to date are mineralized from the overburden/bedrock interface to the bottoms of the holes; several have ended in well-mineralized rock. The current drilling program is testing mineralization to depths of about 400 m; however, the deepest hole to date (WJ08-82) is just over 700 m and ended in mineralization.  Two drills continue infill and expansion drilling on the western and northern portions of the core area of mineralization.

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