Caldera Resources Inc.

Caldera Resources Inc.

June 14, 2005 09:01 ET

Caldera Resources Inc.: Drill Pads And Detailed Airborne Magnetic Survey Completed For Drill Program In Late June On The Ellendale East Project-Western Australia

SOUTH PERTH, WESTERN AUSTRALIA--(CCNMatthews - June 14, 2005) - Caldera Resources Inc. (TSX:CDR) is pleased to announce that a recently completed 25 metre line spaced aeromagnetic survey at its Ellendale East Project suggests that several of the drill targets have a greater surface area than that indicated by a previously completed airborne magnetic survey flown by UTS Geophysics ("UTS") at a line spacing of 60 metres. Some magnetic anomalies, which were thought to be individual intrusions, now appear to represent single, and potentially more important larger intrusions.

The detailed survey, which was also completed by UTS, and covers approximately 25 % of the 198 square kilometre Exploration Licence, has also revealed the possible presence of additional isolated magnetic anomalies. These were identified by Barrett Geophysical Exploration Services Pty Ltd.

During late June 2005, an Aircore drill program, to be carried out by Murchison Exploration and Hire Services, will test a minimum of 10 targets, including some targets from which chrome spinels have been recovered from loam samples, and previously reported on.

The Ellendale East Project is located in the Ellendale Lamproite Field of Western Australia which contains the highest density of diamondiferous pipes in Australia, and includes Ellendale Pipes 4 and 9 which are currently being mined by Kimberley Diamond Company NL. Pipes 4 and 9 are located 20 and 30 kilometres northwest respectively of Caldera's Exploration Licence. The most recently reported run of mine average diamond prices are US$121 and US$328.00 per carat for Pipes 4 and 9 respectively.

Dr. John Daniels, Chairman and a technical advisor to the board comments that the proximity of several high priority targets to the Ellendale Mine gives the Company much optimism for a positive result during the coming drill program.

Other Activities.

Caldera is engaged in diamond exploration in Australia through five projects. Two projects are located in the Pilbara region of northern Western Australia, one of which is joint ventured with Mr. Ronald Winston of Harry Winston Inc. The Company also has two projects located adjacent to the Ellendale Lamproite Field in the Kimberley region of Western Australia. Both of these projects are also joint ventured under separate arrangements with Mr. Ronald Winston. One project is located on the Yilgarn Craton of Western Australia which is joint ventured with SouthernEra Diamonds Inc. (TSX:SDM).

Caldera also has four base metal/gold projects in South Australia. One of these projects is the Mt. Carulina Project which is an Olympic Dam - style base metal/gold target.


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


Suite 3100
40 King Street West
Toronto. Ontario. M5H 3Y2
Telephone: 416-865-6605
Facsimile: 416-865-6636


1 Charles Street
Suite 8
South Perth. Western Australia.
Telephone: 011-618-9367-7728
Facsimile: 011-618-9367-7705

Cusip: 1287D 105

Contact Information

  • Caldera Resources Inc.
    Chris Reindler
    011-618-9367-7705 (FAX)