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Colorado Resources Ltd
Symbol CXO
Shares Issued 39,056,744
Close 2013-04-24 C$ 0.16
Market Cap C$ 6,249,079
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Colorado drills 242 m of 0.63% Cu at North ROK

2013-04-25 09:18 ET - News Release

Mr. Adam Travis reports

COLORADO RESOURCES DRILLS 242 M OF 0.63 % COPPER AND 0.85 G/T GOLD IN FIRST DRILLHOLE ON ITS NORTH ROK PROPERTY

Colorado Resources Ltd. has released the results of the first of two drill holes recently completed on its 100-per-cent-owned North ROK property located approximately 190 kilometres north of Stewart, B.C., and along Highway 37 south of the village of Iskut.

The property is underlain by volcanic and sedimentary rocks of the Upper Triassic, Stuhini Group, to Lower Jurassic, Hazelton Group, in a similar geologic setting to Imperial Metals' Red Chris mine development (15 kilometres to the southeast), which has proven and probable reserves of 301.5 million tonnes grading 0.359 per cent copper and 0.274 gram per tonne gold.

The company has recently completed two drill holes (totalling 524.4 metres) on the property based on a follow-up of 2012 soil sampling, ground magnetic and induced polarization surveying in an area around the Mabon showing. This work demonstrated that porphyry-copper-gold-style mineralization and alteration are associated within a roughly 350-metre-by-700-metre copper-gold geochemical anomaly that is coincident with a similar-sized area of increased magnetic susceptibility and IP chargeability. Preliminary fieldwork was cut short last fall due to winter conditions, and anomalous zones remain open along strike.

Drill hole NR13-001 was targeted to test the northern part of the coincident soil geochemical, magnetic and chargeability anomalies, and the entire length of hole NR13-001 returned 333.0 m of 0.51 per cent Cu and 0.67 g/t Au. The first 242 metres of the hole was hosted in a typical porphyry-copper-style altered monzonite intrusion, and returned 242.0 m of 0.63 per cent Cu and 0.85 g/t Au. The last 91 metres of the hole intersected altered volcanics which weakened away from the intrusive contact but still returned 0.20 per cent Cu and 0.19 g/t Au.

The results are further summarized in the attached table.

             From         To    Interval        Cu        Au
Hole           (m)        (m)         (m)       (%)     (g/t)


NR13-001     2.00     335.00      333.00      0.51      0.67

includes     2.00     244.00      242.00      0.63      0.85
includes    63.53     244.00      180.47      0.76      1.00
NR13-001   244.00     335.00       91.00      0.20      0.19

Drill hole NR13-001 was drilled at a minus-45-degree dip toward the northeast, and the intervals in the table represent length down the hole. The company has yet to collect sufficient data to determine how the downhole drill intervals might relate to the actual true thickness of mineralization.

The samples were analyzed by Acme Analytical Laboratories of Vancouver, B.C. Copper values were first determined using the 1DX ICP-MS method which reports values as parts per million (ppm). Any samples containing greater than 2,000 parts per million copper were assayed by the 7AR method, which reports values as per cent copper. The gold results were determined using the G601 fire assay method, which reports gold results in ppm and are equivalent to grams per tonne (g/t). The analytical results were verified with the application of industry-standard quality control and quality assurance (QA/QC) procedures.

Colorado's technical team is very encouraged by the fact that the observed drill core is consistently mineralized and altered over significant lengths of the monzonite intrusion and appears to be associated with a 350-metre-by-750-metre magnetic feature.

Drill hole NR13-002 was targeted to test a second 500-metre-by-700-metre magnetic feature on the flanks of the chargeability anomaly 350 m west of hole NR13-001 and intersected weakly altered monzonite intrusion. Assay results for this hole are still pending but initial geological indications appear to indicate it is related to a different phase.

Given these highly encouraging results, Colorado is planning further drilling to follow up this exciting discovery hole on the North ROK property, and will continue working with the Tahltan First Nation and local contractors and consultants in order to give first opportunity to local communities.

Qualified person

Greg Dawson, PGeo, is the qualified person as defined by National Instrument 43-101 who supervised the work program and preparation of the technical data in this news release.

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