Mr. Adam Travis reports

COLORADO ANNOUNCES NEW TAMI ZONE PORPHYRY DISCOVERY AT KSP

Colorado Resources Ltd. has released the results from the Tami zone as part of its 2015 summer exploration program on the KSP property located 12 kilometres southwest of AltaGas's road-accessible McClymont Creek hydroelectric project. Colorado acquired the Tami zone claims from Teck Resources in a transaction announced in a Jan. 19, 2015, news release. The claims form part of the KSP property under option with SnipGold Corp.

Adam Travis, president and chief executive officer of Colorado, states: "The recognition by Colorado of the Tami zone as a significant copper-gold porphyry target associated with the newly recognized Sky fault thrust system and the three km by eight km Sericite Ridge alteration system supports our postulation that the KSP property may potentially host several large-scale porphyry targets in a geological setting similar to the KSM camp (i) located 30 km to the southeast. Tami is a compelling copper-gold porphyry target that warrants a large-scale drill program."

The 2015 field program at Tami consisted of the collection of 109 rock chip, channel and grab samples, detailed geological mapping, and prospecting: 12.5 km of ground magnetometer surveying and compilation of historical data. This work indicates the following:

Channel and chip samples

Colorado's rock saw channel and chip samples have returned anomalous values over 700 metres of strike from the main Tami showing, further highlighting the exploration potential.

                         TAMI ZONE: CHANNEL SAMPLING 
                       
Zone                   Channel ID    Interval (m)   Au (g/t)    Cu (%)  

Tami                    CH14-006A            8.0       1.80      0.32   
Tami                    CH14-006B           15.0       2.94      0.51   
78 m east of Tami       CHTami-10           28.8       1.17      0.15   
690 m east of Tami   ChipTami-11A           45.0       0.45              

Historical drilling

Although historical drillholes completed in 1987 did not test the main showing, results included SR87-07 which returned 208.2 m of 0.323 g/t gold from 1.8 m to 210 m including 21.9 m of 1.99 g/t gold from 1.8 m to 23.7 m indicating potential for bulk tonnage gold.

Soil and rock sampling

Historical soil geochemical samples taken from 1982 to 1987 and recently incorporated into Colorado's digital database indicate an easterly trending 250 m by 800 m long greater than 350 parts per billion gold in soil anomaly with the Tami zone located at the far western end. Historical rock sampling has also returned values up to 10.98 g/t gold suggesting the potential for higher gold grades to occur within the overall copper-gold porphyry setting.

Geology

Geological mapping indicates that the Tami zone occurs in the central portion of the three km by eight km Sericite Ridge alteration zone where a series of east-west trending monzonitic intrusive dykes are associated with the gold in soil anomaly. At the Tami zone, the monzonite dykes are noted with quartz and magnetite stockwork and sheeted veins in typical porphyry fashion.

Ground magnetics survey

Magnetically high zones correlate with the soil and rock geochemical anomalies and also occur along strike in areas of cover and attest to further exploration potential not only along strike but at depth. A 3-D inversion of the airborne magnetic data shows that the surface magnetic zones appear to coalesce at depth and may form part of a larger mineralized and altered system.

The rock samples reported by Colorado in 2015 were analyzed by Activation Laboratories Ltd. of Kamloops, B.C., for 68 elements using an aqua regia digest with an ICP-MS finish (code UT-1) and for gold by fire assay fusion with an AA finish (code 1A2).

For more information on the KSP project, the reader is directed to the company's website.

Qualified person

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

(i) Cautionary note: This news release may also contain information about adjacent properties on which Colorado has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the company's properties.

We seek Safe Harbor.