Caldera Resources Inc.

Caldera Resources Inc.

December 05, 2007 09:25 ET

Caldera Resources Inc.: Barrick Commences Mt. Carulina Drill Program

SOUTH PERTH, WESTERN AUSTRALIA--(Marketwire - Dec. 5, 2007) - Caldera Resources Inc. ("Caldera" or the "Company") (TSX:CDR) is pleased to announce that joint venture partner Barrick Gold of Australia Limited ("Barrick") has commenced drilling on the first hole on the Leviathan Target at the Mt. Carulina Project in South Australia.

Due to local aquifer issues the first section of the hole will be drilled by rotary/mud technique to a depth of approximately 350 metres. This will be fully cased in order for a diamond drill rig to complete the hole to a target depth of approximately 800 metres.

Barrick recently presented all of the geophysical data, which included the newly acquired airborne magnetics and the ground gravity survey results. The 14 Mgal gravity anomaly was modelled in 3D and showed a substantial target with evidence of faulting.

A coincident magnetic and gravity anomaly association is a characteristic of the iron-oxide, copper, gold (IOCG) style of mineralisation, such as Olympic Dam, Prominent Hill and the recently discovered Carrapateena strike of Teck Cominco. These projects, including Mt. Carulina are all located within the G2 - O'Driscoll Lineament Corridor in South Australia.

Under the terms of the joint venture, Barrick must incur a minimum of A$400,000 on exploration expenditures within 12 months and may earn a 75% interest in the Exploration Licence by sole funding $4 Million of expenditures within 5 years.

Upon Barrick earning its 75% interest, Caldera will hold a 18.75% interest and Ellendale Resources NL, an Australian public listed company, will hold a 6.25% interest.

Dr. Greg Pooley, a member of the Aus. I.M.M. is the qualified person responsible for the technical information in this news release.

Other Activities.

Caldera is engaged in diamond exploration in Australia through eight projects. Three projects are located in the Pilbara region of northern Western Australia, one of which is joint ventured with Mr. Ronald Winston. The Company also has two projects located adjacent to the Ellendale Lamproite Field in the Kimberley region of Western Australia, one of which is also ventured with Resource and Investment NL, an associated company of Kimberley Diamond Company Limited.

Caldera also has three base metal/gold projects in South Australia. One of these projects is the Mt. Carulina Project, which is an Olympic Dam - style base metal/gold target and is joint ventured with Barrick Gold of Australia Limited.


No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Caldera, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Caldera's expectations are exploration risks detailed herein and from time to time in the filings made by Caldera with securities regulations.

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