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

Candorado Operating Company Ltd.

January 24, 2008 09:00 ET

Candorado Acquires Exploration Properties in Central British Columbia Increasing Its "Quesnel Trough" Mineral Tenure Holdings to Over Half a Million Hectares

KELOWNA, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2008) - Candorado Operating Company Ltd. (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce that it has acquired additional mineral exploration properties in the copper gold belt known as the "Quesnel Trough", a volcanic and sedimentary arc sequence affected by upper Triassic to Jurassic intrusions. The Quesnel Trough extends for over one thousand kilometres from northern Washington State to north-central British Columbia, and hosts alkalic porphyry copper-gold deposits as well as gold-skarns and sedimentary hosted gold deposits.

The Properties

The "Red" property is 11,600 hectares in size and located in the Tournagain Lake area of north western British Columbia and of early Jurassic age. The property borders Carmax Exploration's Eaglehead property and Hard Creek Nickel Corporation's "Tournagain Nickel" property to the northeast, northwest and north. The targets are copper, gold, molybdenum and potentially nickel deposits on the southeast part of the property. The property was acquired by staking.

The "MC" property is located in the Manson Creek area, a historic placer gold belt of Triassic age in north central British Columbia. The property is situated directly to the south of Skygold's "Manson Creek" property and some 20,000 hectares in size. The targets are sedimentary hosted gold deposits. The property was acquired by staking.

The "Lett" property covers some 12,000 hectares to the south of the producing "Gibraltar" copper-gold mine near Williams Lake, central British Columbia. The property was acquired based on regional geochemical anomalies. The targets are copper-gold porphyry deposits. The Company acquired a 100% interest in the property by way of a one time cash payment.

Exploration

The Company, as British Columbia's largest mineral rights holder has previously conducted large scale ground and airborne geophysical and geochemical programs over its extensive properties to narrow in on the most prospective exploration targets. From past programs several properties have been advanced to the drilling stage. The Company conducted drilling on five different properties in 2007 with more to follow in 2008 and several properties have been optioned in 2007 to other junior mining companies. The Company intends to apply this same systematic exploration approach to the newly acquired properties.

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

Rene Bernard, CEO

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.
    Rene Bernard
    CEO
    (250) 979-2595
    (250) 860-2957 (FAX)
    Website: www.candorado.com