Drilling at Woodjam South Intersects 315.8 m Grading 0.40% Copper

Vancouver, BC, October 18, 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 twelve new holes (5,052 m) of the 2011 infill and expansion diamond drilling program at Woodjam South. The drilling is testing a defined core area of mineralization measuring approximately 900 m by 800 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.

During 2011, 42 drill holes (SE11-21 to SE11-62, inclusive) totaling 17,195 metres (m) were completed; further results will be reported in batches when received.

Southeast Zone Drilling Highlights:

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.

Most of the holes reported in this release tested the peripheral/outer areas of mineralization to a central, higher grade core area of mineralization.

Hole SE11-45 was collared approximately 100 m southwest of hole SE10-15 to test the western area, and encountered copper-molybdenum mineralization from approximately 104 m to the end of the hole at 422.45 m.

Hole SE11-46 was collared between holes WJ08-80, WJ08-82 and SE10-19 to test the northeastern area of the mineralization. Hole SE11-46 encountered copper-gold-molybdenum mineralization from the top of the bedrock to the end of the hole at 422.5 m.

Hole SE11-47 was collared between holes SE10-12, SE10-16 and SE11-12 to test the southwestern area of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the end of the hole at 417.6 m. Five narrow, post-mineral plagioclase porphyry dykes were also intersected.

Hole SE11-48 was collared approximately 100 m to the northwest of hole SE10-07 to test the northwestern extent of the mineralization. Anomalous copper-gold-molybdenum mineralization was intersected from approximately 87 m to the end of the hole at 416.4 m. The upper part of the hole included albitic alteration with little or no mineralization.

Hole SE11-49 was collared approximately 120 m east of hole SE11-44 to test the northeastern extent of the mineralization. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock at 146.3 m to the end of the hole at 404.2 m.

Hole SE11-50 was collared approximately 75 m west-southwest of hole SE10-17 to test for mineralization in the southwestern portion of the core area. Anomalous copper-gold-molybdenum mineralization was intersected from the top of the bedrock at 84.4 m to the bottom of the hole at 425.2 m.

Hole SE11-51 was collared approximately 60 m west of hole SE11-34 to test for higher-grade mineralization in the west-central part of the core area. Copper-gold-molybdenum mineralization was intersected from the top of the bedrock to the bottom of the hole at 443.8 m (316 m grading 0.40% Cu, 0.04g/t Au and 0.02% Mo).

Hole SE11-52 was collared approximately 120 m northeast of hole SE11-54 to test for the northern extent of mineralization. The upper part of the hole contained very little mineralization; the lower part contained low-grade copper mineralization from approximately 350 m to the bottom of the hole at 419.4 m.

Hole SE11-53 was collared between holes SE10-09 and WJ08-95 to test the eastern extent of the mineralization; it was a retry at the same location of holes SE11-42 and SE11-43 which were lost in mineralization and in overburden, respectively. Anomalous copper mineralization was encountered from the bedrock surface at 119 m to the bottom of the hole at 417 m.

Hole SE11-54 was collared approximately 100 m north of hole SW10-18 to test the northwest extent of the mineralization. No mineralization was encountered from the top of the bedrock at 49 m to about 278m; below this, anomalous copper mineralization was observed to the bottom of the hole at 407 m.

Hole SE11-55 was collared halfway between holes WJ08-89, SE11-38, SE11-40 and SE11-41 to test the southwestern extent of the mineralization. After drilling through a 32 m post-mineral dyke starting at 113 m, anomalous to moderate copper mineralization was encountered to the bottom of the hole at 428 m.

Hole SE11-56 was an infill hole collared directly between holes WJ08-85 and SE11-28 and approximately 80 m southwest of hole SE11-25 to test for higher grade mineralization. Copper and gold mineralization was encountered from the top of the bedrock at 131 m to the end of the hole at 428.6 m (297.5 m grading 0.27% Cu and 0.07g/t Au).

Hole SE11-57 was collared 50 m east of hole SE10-18 to test the northwestern extent of the mineralization. Anomalous to moderate copper mineralization was encountered from top of hole at 70.1 m to the bottom of the hole at 405 m.

One core rig continues infill and expansion drilling on the Deerhorn, Megabuck East and Megabuck zones. One diamond drill rig is testing targets to the south of the Southeast Zone in areas devoid of outcrop.

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.