SOURCE: Caldera Resources Inc.

November 22, 2010 09:38 ET

Caldera Corporate Update on Marjan Gold-Silver Project

MONTREAL--(Marketwire - November 22, 2010) - Caldera Resources Inc. (TSX-V: CDR) reports that drilling on the Marjan Gold-Silver project, in Armenia, commenced as planned on November 10, 2010. A total of two diamond drill holes totaling 266m have been completed at the 1900m level. This initial part of the program was designed to test the projected southeastern extension of the vein system, in this lower and underexplored area of the project. Mr. Jim Steel MBA, P.Geo., Caldera's VP Exploration and Development and Qualified Person, is on site and has supervised core logging and sample preparation for shipment to Activation Laboratories, Ancaster, Ontario, for analysis. Drilling has now commenced at the 2300m level where the program is designed to twin holes from the Soviet-era data, in an effort to confirm resources under NI 43-101.

Caldera also reports that on Friday November 19, 2010 it filed its claim against Global Gold Corporation, Caldera's JV Partner, at the American Arbitration Association in New York.

Bill Mavridis, President and CEO of Caldera, stated: "We continue to work towards the success of our Joint Venture and maintain our rights and privileges therein. Caldera has followed the spirit and the terms of our agreement with Global Gold and will continue to do so. As per our rights, we anticipate to acquire 100% of the Project, in the near future. We are presently working with the Office of the Minister of Energy and Natural Resource to settle any and all issues related to the Warning Notice issued on October 13, 2010. We have confidence that this will be resolved very shortly."

In the Arbitration claim Caldera is seeking a declaratory judgment, inter alia that Caldera did not breach any terms of the Joint Venture Agreement, that there are no provisions for the unilateral termination of the JV, as illegally declared by Global Gold on October 7, 2010. Caldera is also seeking an order restraining and enjoining Global Gold from engaging in any conduct to the detriment of the parties' joint venture or violating any terms of the JVA. Caldera is claiming damages from Global Gold in the amount of $4.5 million dollars, for breach of JV agreement, breach of LLC agreement and costs and expenses continuing to accrue thereon.

The Marjan Gold-Silver Project
The Marjan Gold-Silver Project is a high-grade gold and silver epithermal vein system, with three distinct zones. The Marjan Central Zone consists of multiple anastomosing silicified veins in a zone of propylitic and argillic alteration some 500m wide east-west and over some 260m vertically. The Marjan North Zone consists of parallel sulphide veins and alteration zones that outcrop over a 400m by 400m area as well as a potentially mineralized clastic unit some 1.6km long by some 600m wide.

The total C1 and C2 historical Soviet-era resources of the Marjan project are calculated at 405,147 oz of Gold and 14.2M oz of Silver. The total P1 historical Soviet-era resources of the Marjan project are equal to 647,152 oz of Gold and 37.1M oz of Silver.

Mr. Ricardo Valls, P.Geo., independent geologist for Caldera reviewed the Marjan Gold-Silver Project. The NI 43-101 Technical Report on the project was filed on SEDAR on June 17, 2010 and can also be viewed on our website at

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.

About Caldera Resources Inc.
Caldera is engaged in advancing its gold project in the Republic of Armenia. Caldera holds a 55% interest in the Marjan Gold-Silver project with a purchase obligation to acquire 100% of the project from Global Gold Corporation. You can learn more about the Company's projects by watching recent interviews on our website

For additional background information and details relating to the Joint Venture, please see our press releases of October 12, 2010 and October 22, 2010 on our website.

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

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

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