Caldera Resources Inc.

Caldera Resources Inc.

September 19, 2005 12:05 ET

Caldera Resources Inc.: Exploration Update

SOUTH PERTH, WESTERN AUSTRALIA--(CCNMatthews - Sept. 19, 2005) - Caldera Resources Inc. (TSX:CDR) is pleased to advise shareholders on progress at three of the Company's priority diamond projects located in the southwest Kimberley and Pilbara regions of Western Australia.

Ellendale East Project - Kimberley Region

The processing of volcanoclastic quartz tuff material recovered from seven targets during the June 2005 drill program at Ellendale East is continuing. Chrome spinel has been recovered from pre-fusion samples at all of the drilled targets where volcanoclastic quartz tuff has been identified. These samples were prepared by Diatech Heavy Mineral Services and Diamond Recovery Services, both of Perth, Western Australia. Electron probe analyses has been completed at UWA on chrome spinels recovered from two of the drill targets, including one target from which micro-diamonds have been identified in drill chips, as reported on 23rd August 2005.

The probe results of these chrome spinels, which is a diagnostic lamproite indicator mineral, suggest that some of the spinels at both anomalies have been sourced from the diamond stability field. Subject to results from the remaining five holes, the Company will submit samples for caustic fusion and possible diamond recovery. The Ellendale East Project is located 25 kilometres southeast of the recently commissioned Ellendale 4 Diamond Mine owned by Kimberly Diamond Company NL.

Once processing of the drill samples has been completed, Mr. Ronald Winston may elect to earn a 50% interest in the project by reimbursing the Company A$400,000 and expending A$2Million on further development exploration over 2 years. Mr. Winston may then earn an additional 10% interest by paying Caldera A$1M and expending A$7M over the next three years.

The Ellendale East Project includes a previously identified lamproite which is known as the Spielers Bore Lamproite. The Company will submit a 25 kilogram sample of rock material from this occurrence for caustic fusion and possible micro-diamond recovery.

Ellendale South Project - Kimberley Region

Geophysical processing by Barrett Geophysical Consultants of recently acquired 75 metre line-spaced, UTS Geophysics flown aeromagnetic data over two Exploration Licences at Ellendale South indicates a minimum of ten priority targets for follow-up sampling and explorations. A sampling program at these anomalies is scheduled for the fourth quarter of 2005. Subject to granting of the two Exploration Licences.

Runton Project - Pilbara Region

The processing of drill sample obtained from the recently completed drill program at the 100% owned Runton Project has commenced. Material from both the northern and southern dyke is being processed for indicator minerals and micro-diamond. Chrome spinels and micro-diamonds have been previously recovered from the northern dyke which was drilled during 2004, and reported on in November and December 2004.

Dr. John Daniels, Chairman of Caldera, is optimistic that the recent drill program will provide additional data that should improve the prospectivity of this project. External consultants have just commenced this work and the results will be reported when available.

Other Projects

The Company has been advised by BHP Billiton that drilling at the Yelma Joint Venture should commence during the fourth quarter of 2005. The Yelma Joint Venture is being explored for nickel and platinum group metals.

Martin Jackson, a member of the Aus.I.M.M is the qualified person responsible for the technical information in this news release.

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. (SDM:TSX).

Caldera also has three 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)