Candorado Operating Company Ltd.
TSX VENTURE : CDO
FRANKFURT : HQU
BERLIN : HQU

Candorado Operating Company Ltd.

April 17, 2008 13:25 ET

2007 Highlights for Candorado Operating Company Ltd.

KELOWNA, BRITISH COLUMBIA--(Marketwire - April 17, 2008) - Candorado Operating Company Ltd. ("Candorado" or the "Company") (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU)

In 2007, drilling was carried out on the Deer/Friendly, Man/Prime, Rayfield River, and Murphy Lake properties. Geochemical and/or geophysical surveys have delineated areas for follow-up on the Murphy Lake, Timothy Lake, Deer/Friendly and Man/Prime. Drilling is planned in 2008 on the Deer/Friendly and Man/Prime properties.

Man/Prime: optioned from Bearclaw Capital Corp. and is located about 36 km north of Princeton.

- Induced polarization (IP) geophysical survey, soil sampling and 4,120 metres of drilling.

- Drill Hole 694-008 intercepted 120 m of 0.21 % Cu, 0.92 g/t Au; 694-012, 92 m of 0.21 % Cu, 0.39 g/t Au; 694-013, 90 m of 0.20 % Cu, 0.39 g/t Au.

- Copper Mountain Mining, 50 km south of the property, has recently announced a mineral measured plus indicated resource of 206 million tonnes grading 0.37% copper, at a 0.20% cut-off.

Deer Lake: optioned from Electrum Resource Corp. property west of Little Fort, with potential for skarn and porphyry deposits.

- Geophysical surveys defined distinct magnetic anomalies extending over 1.2 kilometres.

- Several new zones of Cu-Au bearing sulphide ± magnetite mineralization were discovered.

- Lightning Zone delineated over a 50+ metre length; consists of pyrrhotite-magnetite-chalcopyrite mineralization. Chalcopyrite rich float in one trench grades up to 6.5 % Cu and 19.2 g/t Au.

- Road Zone found along new road; consists of magnetite-pyrite-chalcopyrite skarn mineralization grading 0.39 % Cu and 0.20 g/t Au over 9.9 m. Zone intersected in two holes.

- Test Pit 3 exposed magnetite-chalcopyrite skarn grading 0.49 % Cu and 5.8 g/t Au.

- Sulphide ±magnetite mineralization and skarn were intersected in most drill holes.

- Hole DL07-10, the most significant drill hole of the program, intersected four discrete Cu-Au mineralized zones and wide intervals of garnet-rich skarn.

Friendly Lake: optioned from Electrum Resource Corp. property west of Little Fort, with potential for skarn and porphyry deposits.

- Evaluation of an airborne geophysical anomaly led to discovery of a new Cu-Zn showing.

- Detailed grid sampling revealed strong, Pb-Zn-in-soil anomalies north of the new showing.

- The announcement of a major molybdenum discovery at Newmac Resource's Crazy Fox property 10 km east of Friendly Lake demonstrates a new and exciting potential for the region. Some of Newmac's largest drill intersections of molybdenum bearing intrusive rock reportedly came from beneath several hundred metres of Nicola volcanics.

K-CR: northwest along a structural trend from New Gold's New Afton property, approximately 30 km northwest of Kamloops.

- Based on the documented success of airborne surveys over many of the deposits within the Afton camp, Candorado acquired the K-CR ground and contracted Fugro Airborne Surveys to complete a detailed, airborne gamma ray spectrometric and magnetic total field survey over the southern K-CR claims in November, 2007.

- Interpretation of data is being completed.

Murphy Lake: The Murphy Lake property is located west of Murphy Lake and north of GWR Resources' Lac La Hache property, in the Cariboo region of British Columbia, 50 km north of 100 Mile House.

-Preliminary exploration has discovered two copper soil anomalies associated with airborne geophysical anomalies.

- Follow-up soil and prospecting surveys are recommended, as well as soil surveys on seven other geophysical anomalies and on an broad area of anomalous copper in soils.

Rayfield River: optioned to Callinan Mines Ltd and is located east of 70 Mile House.

- In 2007 reconnaissance soil surveys were carried out.

- In late 2007 and early 2008 Callinan Mines completed 6 diamond drill holes, totalling 1543 metres.

- Results from hole 784-08-05 from 110.0 to 176.8 m, grading 0.13% copper over 66.8 metres.

Timothy Lake: a joint venture with GWR, adjoining its Lac La Hache property to the south. The joint venture forms part of our Murphy Lake property.

- Preliminary exploration has discovered copper soil anomalies associated with an airborne geophysical anomaly, and follow-up soil and prospecting surveys are recommended. Soil and prospecting surveys are recommended on two other geophysical anomalies.

- Two other areas of copper soil anomalies warrant further work. In addition, follow-up geochemical and prospecting surveys are recommended in three areas of anomalous gold or copper in stream sediments.

Candorado is also exploring for sediment-hosted vein (SHV) gold deposits, in Nicola Group sedimentary rocks. Geochemical exploration has outlined areas for follow-up on the Willow Creek property, southeast of Prince George.

Candorado is actively exploring for copper-gold alkalic porphyry deposits in the Quesnel Trough of BC, which comprises the Upper Triassic to Lower Jurassic Nicola Group, a volcanic and sedimentary arc sequence affected by Upper Triassic to Jurassic intrusions. Candorado is one of the largest claim holders in this prospective belt. Candorado also holds the Serb Creek molybdenum deposit, the Eldorado property next to BC Metal's Red Chris copper porphyry deposit and the Pitt Island VMS prospect all located in Northern British Columbia

About Candorado

Candorado is a B.C. based mineral exploration Company with extensive mineral tenures in Central, Northern and Southern British Columbia. The Company is in the midst of several exploration projects involving geochemical and geophysical programs as well as drill testing high priority targets and will report on results as soon as they are available.

On behalf of the board of directors of

CANDORADO OPERATING COMPANY LTD

Kirk Reed, director

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contact Information

  • Candorado Operating Company Ltd.
    (250) 979-2595
    (250) 860-2957 (FAX)
    Website: www.candorado.com