Caldera Resources Inc.

Caldera Resources Inc.

October 15, 2008 12:52 ET

Caldera Files 43-101 Technical Report on Ellendale East Property

SOUTH PERTH, WESTERN AUSTRALIA--(Marketwire - Oct. 15, 2008) - Caldera Resources Inc. ("Caldera" or the "Company")(TSX:CDR) is pleased to announce that it has obtained an independent technical report on the diamond potential of the Ellendale East property recommending a bulk sample be undertaken. The report dated July 7, 2008 and prepared by Dr. Gregory D Pooley PhD MBA AusIMM entitled "Technical Report on the Diamond Potential of the Ellendale East Diamond Project of Caldera Resources Incorporated, West Kimberley Region, Western Australia", has been filed on SEDAR. In his report, Dr. Pooley stated "In comparison with the known potential of diamond bearing pipes in the Ellendale Diamond Field, the Ellendale East Project is considered a well-advanced exploration project". Dr. Pooley has recommended a program of reverse circulation drilling of 5 holes at each of anomalies 8 and 27, present on the Ellendale East property, for a budget of $A311,000 plus a 10% contingency. He has also recommended a bulk sample program on anomalies 4 and 5 at the Ellendale East property for a budget of $A500,450 plus a 10% contingency. The bulk sample will include preparatory work in the amount of $A70,550, $A299,900 for the work associated with obtaining the bulk sample and reporting thereon and an additional $A130,000 for processing and reporting on the bulk sample.

Based on a review of previous exploration data, property site visits and samples collected on the property, it is highly likely that undiscovered primary diamondiferous sources exist within the Ellendale East Project. There is a high probability that secondary (alluvial) diamondiferous deposits also exist on the property. A known olivine lamproite pipe is present on the property and also in adjoining properties. Samples collected from anomalies on the property yielded a relatively large number of chromites which indicate the presence of potentially diamondiferous lamproite. A number of microdiamonds have been recovered from very small samples taken from the anomalies. The occurrence of DIMs and microdiamonds from drill samples taken from magnetic targets in the Ellendale East property justifies the high priority bulk sampling of specific targets for a diamondiferous lamproite(s) and warrants an aggressive follow-up exploration program on the adjacent anomalies.

Dr. Gregory D Pooley is the qualified person under National Instrument 43-101 who has reviewed this press release.


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.

Cusip: 1287D 105

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

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