SOURCE: Caldera Resources Inc.

August 17, 2010 09:30 ET

Caldera Trench Sample Returns 17.20 g/t Au and 344 g/t Ag over 3.2 meters.

MONTREAL--(Marketwire - August 17, 2010) -  Bill Mavridis, President and CEO of Caldera Resources (TSX-V: CDR), announced today initial results from its summer work program. "Results from resampling of historic trench samples released today confirm that the Marjan Gold and Silver Project carries good grades of gold and silver. Of note, Trench 2 returned a grade of 17.20 g/t Gold and 344.0 g/t Silver over 3.2 meters. Including a 0.8 meter interval grading 51.3 g/t gold and 627 g/t of silver. These values contribute to the validity of the Soviet-era geological model of the Marjan project. We are excited with these results and look forward to moving this project towards a scoping study next year. For now trench samples are still being delivered to Canada and results will be released as they are ready."

The Central zone, where the historic trenching is concentrated, hosts eleven (11) mapped quartz veins, averaging 1.5m in true width, and each with extensive argillic alteration haloes. Existing trenches on Marjan vein sets were mapped and resampled by continuous chips set out and supervised by the Qualified Person. Samples are uniformly 0.8m wide. Assaying was done by Activation Labs Inc. in Ancaster, Ontario, using INAA (induced neutron activation analysis) ICP. Fire assay confirmation of these results is in progress.

Trench Sampling Highlights
There are currently 11 identified veins in the Central zone. Please see map as annexed hereto or on page 19 of the NI 43-101 Technical Report filed on SEDAR or on our website at http://bit.ly/bD4O81.

Trench 1, 2, 14, 20 and 34 tested Vein 10, from elevation 2570 asl at trench 1, down to elevation 2380m asl at trench 34. The results give us an indication of mineralization on Vein 10 over a vertical distance of 190m.

Trench 2 returned an average 17.20 g/t gold and 344 g/t silver over 3.2m, open on both hanging wall and footwall (Table 1). This interval includes 0.8 meters grading 51.3 g/t gold and 627 g/t silver in sample 323005. Trench 1 returned 1.04 g/t gold and 66 g/t silver over 2.4m, and is opened on the hanging wall and footwall.

Trenches 14, 20, and 34 test a part of Vein 10 called the Horsetail Zone, where the Vein splits into two, and then four, veins. Trench 14 returned anomalous readings of gold in the horsetail zone, while Trench 20 returned 3.2m of 2.815 g/t gold and 26.6 g/t silver and is open on the hanging wall and footwall.. Trench 34 returned 3.2m of 2.34 g/t gold and 22 g/t silver (see note).

Trenches 21, 22, 28, and 29 test Veins 4 and 5, where they lie in close proximity to each other. Trench 21 returned 1.6m of 0.494 g/t gold; trench 22 returned an anomalous gold value on one of two samples (see note); and trench 28 did not return anomalous values neither in gold nor silver. Trench 29, which spans both Veins 4 and 5, returned anomalous values in gold over Vein 4, but due to technical constraints, was not sampled over Vein 5.

Given the highly anomalous values at the ends of several trench intervals, the Company anticipates extending trenches 1, 2, 20, 29, and 34 as part of the next phase of exploration at Marjan.

TABLE 1 Trench Sampling Results Marjan Central Zone

Sample No Vein Trench No Elevation (m) From (m) To (m) Interval (m) Au g/t Ag g/t
323005 10 2 2470 0.0 0.8 0.8 51.3 627
323006 10 2 2470 0.8 1.6 0.8 3.17 5
323007 10 2 2470 1.6 2.4 0.8 9.02 629
323008 10 2 2470 2.4 3.2 0.8 5.30 115
Average   2   0 3.2 3.2 17.20 344.0
                 
323001 10 1 2570 0 0.8 0.8 0.421 < 5
323002 10 1 2570 0.8 1.6 0.8 2.49 68
323003 10 1 2570 1.6 2.4 0.8 1.45 34
323004 10 1 2570 2.4 3.2 0.8 2.50 23
Average           3.2 1.71 31.3
                 
Sample No Vein Trench No Elevation (m) From (m) To (m) Interval (m) Au g/t Ag g/t
323009 10 14 2440 0 0.8 0.8 0.027 < 5
323010 10 14 2440 0.8 1.6 0.8 0.115 < 5
323011 10 14 2440 1.6 2.4 0.8 0.463 < 5
323012 10 14 2440 2.4 3.2 0.8 0.439 < 5
Average   14   0.8 3.2 2.4 0.339 < 5
                 
323013 10 20 2420 0 0.8 0.8 3.84 36
323014 10 20 2420 0.8 1.6 0.8 2.40 97
323015 10 20 2420 1.6 2.4 0.8 2.55 < 5
323016 10 20 2420 2.4 3.2 0.8 2.47 < 5
323017 10 20 2420 3.2 4.0 0.8 0.85 < 5
Average   20   0 3.2 3.2 2.815 26.6
                 
323018 5 21 2460 0 0.8 0.8 0.328 < 5
323019 5 21 2460 0.8 1.6 0.8 0.660 < 5
Average   21   0 1.6 1.6 0.494 < 5
                 
323020 5 22 2470 see note 0 0.8 0.8    
323021 5 22 2470 0.8 1.6 0.8 0.789 < 5
                 
323022 4 28 2460 0 0.8 0.8 < 5 ppb < 5
323023 4 28 2460 0.8 1.6 0.8 < 5 ppb < 5
323024 4 28 2460 1.6 2.4 0.8 < 5 ppb < 5
Average   28   0 2.4 2.4 < 5 ppb < 5
                 
Sample No Vein Trench No Elevation (m) From (m) To (m) Interval (m) Au g/t Ag g/t
323025 4 29 2420 0 0.8 0.8 0.022 < 5
323026 4 29 2420 0.8 1.6 0.8 0.530 < 5
Average   29   0 1.6 1.6 0.276 < 5
                 
323027 10 34 2380 0 0.8 0.8 0.499 < 5
323028 10 34 2380 0.8 1.6 0.8 < 5 ppb < 5
323029 10 34 2380 1.6 2.4 0.8 6.54 66
323030 10 34 2380 see note 2.4 3.2 0.8    
Average   34   0 3.2 3.2 2.34 22
                 

Note: Samples 323020 and 323030 were rejected by the Qualified Person after the sample bags were found to be emptied after Customs inspection of the sample shipment in Toronto, Canada. These locations were resampled on July 25, 2010 by the Qualified Person and were submitted for reassay on August 2, 2010 by the Qualified Person. The new sample number for 323020 is 61597 and the new sample number for 323030 is 61598.

Marjan Gold and Silver Project
The Marjan Gold-Silver project has two distinct zones, referred to as the Northern Zone and the Central Zone.

The Central Zone of the Marjan Project was extensively explored between 1964 and 1989, and has Soviet-era GKZ standard resources as outlined below:

Historical Resource Marjan Central Zone tonnes Gold Grade Silver Grade Gold oz Silver oz
C1 and C2 resources 4,772,757 2.64 g/t 92.67 g/t 405,147 14,211,588
P1 resources 3,211,843 2.35 g/t 93.42 g/t 242,696 9,647,922

The resource estimate was published by Poghosyan N. F. in a 1995 report titled Marjan Gold-Silver-Polymetallic Property, State Committee for Reserves of Armenia, Sissian Geological Exploration Group, Yerevan, Armenia. Blocks of all categories are defined using a dry density of 2.87 g/cm3, a minimum thickness of 0.4 metres, and a cut-off of 1.2 g/t of Gold.

The Sissian Geological Exploration Group, Yerevan, Armenia, also explored the Northern Zone between 1991 and 1992. The historical Soviet-era GKZ standard resource, calculated by State Committee for Reserves of Armenia, Sissian Geological Exploration Group, Yerevan, as follows:

Historical Resource Marjan Northern Zone tonnes Gold Grade Silver Grade Gold oz Silver oz
P1 resources 5.77M 2.18 g/t 148.46 g/t 404,456 27,543,865

The total C1 and C2 historical resources of the Marjan project contain 405,147 oz of Gold and 14M oz of Silver. The total P1 historical resource of the Marjan project contains 647,152 oz of Gold and 37M oz of Silver.

Historical Resource Marjan Project Gold oz Silver oz
C1 & C2 resources 405,147 14,211,588
P1 resources 647,152 37,191,787

According to the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), "C1″ and "C2″ classifications are equivalent to "indicated" and "inferred" resources (http://bit.ly/c7c4Jv).

Resources identified as P1 can be considered in the "Inferred" and "Mineralized Zone" categories respectively, as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) in their document "Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines" (http://bit.ly/cDA4XP).

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.

More information on the Marjan Gold and Silver project can be found in the NI 43-101 report filed on SEDAR or on our web site at http://bit.ly/bD4O81.

Qualified Person
Mr. Jim Steel, MBA, P.Geo., Vice-President, Mining and Development for the Company, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of NI 43-101.

The Marjan Joint Venture
Caldera holds a 55% interest in the Marjan Joint Venture (the "JV") and the other 45% interest is held by Global Gold Corporation. The JV is managed through a Delaware registered corporation, Marjan-Caldera Mining, LLC. The JV holds 100% of the shares of Marjan Mining Company, LLC, the Armenia based operating company which has been granted the concession and mining license for the Marjan Property. Caldera is responsible for all operations and expenses on the project.

As per the JV agreement, Caldera undertakes to invest US$3M towards a feasibility study, to maintain its 55% interest. Under the terms of the JV, Caldera also undertakes to make US$2.85M in payments to Global Gold, on a quarterly basis, to acquire 100% of the project. Failure to make timely payments will result in a 10% per annum interest charge, which will be paid quarterly. All payments must be made by December 2014. Global Gold will maintain a 1.5% NSR on Marjan Central and a 2.5% NSR on Marjan North. Caldera has the right of first refusal to purchase all NSRs on the project held by Global Gold.

Cautionary Statement
The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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