Fjordland Exploration Inc.
TSX VENTURE : FEX

Fjordland Exploration Inc.

November 18, 2009 09:30 ET

Fjordland Exploration Inc.: Gold Fields Drilling at Woodjam North, British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2009) - Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB), Woodjam Joint Venture 60%/40% partners, are pleased to report that Gold Fields Horsefly Exploration Corporation (a member of the Gold Fields Limited group of companies (NYSE:GFI) commenced drilling on October 10th on the Woodjam North gold-copper property, located 45 kilometres east of the city of Williams Lake in central British Columbia. To date, approximately 3300 metres of drilling has been completed on the Takom Zone, following up a 2008 intersection grading 0.34% copper and 0.6 g/t gold over 72 metres, as well as a small portion of the much larger 3-kilometre wide induced polarization anomaly. The planned 6,000-metre diamond drilling program is designed to initially test the extent and depth potential of the existing Takom and Deerhorn gold-copper occurrences. Additional drilling will be designed to test IP, magnetic and geochemical anomalies identified from new data generated from the 2009 surveys.

Gold Fields has an option to earn up to a 70% interest in the property by spending $19 million in exploration over the next 7 years (see July 30, 2009 News Release for details). Gold Fields has budgeted approximately $3 million for the first-year work program of the option agreement on the 40,750-hectare property.

To mid-November, Gold Fields has completed the following additional exploration:

  • Geological mapping over all areas covered by soil and induced polarization(IP) surveys;
  • Approximately 85 line-kilometres of line-cutting and an induced polarization survey, at 100m line-spacing, over the Corner Lake grid, which extends northwards from the Megabuck and Deerhorn zones;
  • Approximately 90% of a planned 5,000 line-kilometres airborne magnetic-radiometric survey, on lines spaced 100m apart;
  • 500 gravity stations on a nominal 250m spacing with local more detailed 100m nominal spacing over the Takom area;
  • Soil sampling survey consisting of 4,250 samples collected over the Takom-Corner Lake grid;

Fjordland has recently acquired by staking a 100% interest in the Moffat, Hazel, Tisdall and Coffee gold-copper properties (in total 14,080 hectares), situated in the general Woodjam area.

Fjordland has been informed by its QUEST joint venture partner, Serengeti Resources Inc., that it recently completed a 3-hole diamond drilling program totaling 790 metres on the Mil gold property, located 15 kilometres southwest of Terrane Metals' Mt. Milligan copper-gold property which is currently progressing towards development.

About Gold Fields Limited

Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces.
 *Based on the annualized run rate for the first quarter of F2010.

About Fjordland Exploration Inc.

Fjordland Exploration Inc. is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Fjordland (60% interest) and Cariboo Rose Resources Ltd. (40%) comprise the Woodjam Joint Venture. Fjordland and Serengeti Resources Inc. are partners in the QUEST project to explore 11 properties totaling 100,000 hectares in the heart of British Columbia's Quesnel Terrane for precious and base metals. Shares of Fjordland Exploration Inc. trade on the TSX Venture Exchange under the symbol "FEX". For further information visit the Company's website at www.fjordlandex.com.

Tom Schroeter, President & CEO

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

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