Caldera Resources Inc.
TSX : CDR

Caldera Resources Inc.

April 27, 2007 09:18 ET

Caldera Resources Inc.: Mt. Carulina-South Australia, Barrick Commence Work Program

SOUTH PERTH, WESTERN AUSTRALIA--(CCNMatthews - April 27, 2007) - Caldera Resources Inc. (TSX:CDR) is pleased to announce that ground work has commenced by Barrick Gold of Australia Limited on the Mt. Carulina Project located in South Australia of which Caldera has a 75% interest. The Exploration Licence covers 97 square kilometres and lies within the structurally significant O'Driscoll G2 Corridor.

The Mt. Carulina target is a strong magnetic feature with an associated intense gravity high anomaly. The magnetic and gravity anomaly association is a geophysical characteristic of the Olympic Dam and Prominent Hill deposits and also of the more recent discovery by Teck Cominco at the Carrapateena Project which lies south east of Olympic Dam.

During the first quarter Barrick completed an airborne magnetic survey over the Exploration Licence at 150 metre line spacing and a ground gravity survey was carried out on the eastern portion of the tenement for a total of 160 station readings. A Heritage Survey is being planned which will enable Barrick to complete the ground gravity survey on the western part of the licence area and provide access for future drilling which is expected to take place in the third quarter, subject to drill rig availability.

Under the terms of the joint venture, Barrick may earn a 75% interest in the project by expending a minimum of A$400,000 within 12 months and sole funding a total of A$4 Million within 5 years, leaving Caldera with an 18.75% interest.

Dr. Greg Pooley, 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 eight projects. Three projects are located in the Pilbara region of northern Western Australia, one of which is joint ventured with Mr. Ronald Winston. The Company also has two projects located adjacent to the Ellendale Lamproite Field in the Kimberley region of Western Australia, one of which is also ventured with Resource and Investment NL, an associated company of Kimberley Diamond Company Limited.

Caldera also has two base metal/gold projects in South Australia.

CAUTIONARY STATEMENT

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.



Canada Australia
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Suite 3100 1 Charles Street
40 King Street West Suite 8
Toronto. Ontario. M5H 3Y2 South Perth. Western Australia. 6151
Telephone: 416-865-6605 Telephone: 011-618-9367-7728
Facsimile: 416-865-6636 Facsimile: 011-618-9367-7705
Website: www.calderares.com E-mail: calderares@bigpond.com


Cusip: 1287D 105

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

Contact Information

  • Caldera Resources Inc.
    Chris Reindler
    President
    +61-8-9367-7728
    +61-8-9367-7705 (FAX)
    or
    Caldera Resources Inc.
    Robert Levitt
    Investor Relations
    (514) 242-1852
    Website: www.calderares.com