Canadian Orebodies Inc.

TSX VENTURE : CO


Canadian Orebodies Inc.

April 15, 2014 08:00 ET

Canadian Orebodies Highlights Infill Drill Results on the Farley Lake Mine Project Joint Venture With Carlisle Goldfields

TORONTO, ONTARIO--(Marketwired - April 14, 2014) - Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies" or the "Company") is pleased to highlight interim results from an additional 6 holes on the Farley Lake Mine Project, which the company has a 10% interest in through a joint venture with Carlisle Goldfields Limited (TSX: CGJ) ("Carlisle"), who is the operator of the project. Drill hole FL13-16 intersected 20.3g/t gold ("Au") over 6.8m between 180.0m to 186.8m. Hole FL13-15 intersected 5.2g/t gold over 19.0m from the Farley Deeps. Drilling at Farley Lake commenced in December 2013 (see Press Release dated December 12, 2013).

Carlisle's President and CEO, Abraham Drost commented that: "The additional 6 holes from the infill drill program continue to show the Farley Lake Mine Project's considerable grade potential within Inferred material in the optimized pit-shell while demonstrating a deep value proposition at depth below the optimized pit shell in the Farley Deeps horizon, which provides considerable exploration upside."

Hole From (m) To (m) Drill Interval (m) Au Grade g/t
FL13-03 No Significant Results
FL13-13 143.0 163.0 20.0 2.4
182.8 184 1.20 2.2
192.5 199 6.5 3.2
242.6 247 4.4 1.4
367. 371.0 4.0 2.2
FL13-15 364.0 383.0 19.0 5.2
FL13-16 180.0 186.8 6.8 20.3
FL13-18 97.2 99 1.8 10.3
141.5 151.0 9.5 2.0
FL14-01 25.0 31.0 6.0 3.3
58.0 71.0 13.0 6.1
113.0 116.0 3.0 6.7
148.5 150.5 2.0 4.3

NB. Drill Results highlighted and sub results use an arbitrary cut-off grade of 0.60 g/t Au.

True width calculations indicate that core length is in excess of 90% of core length.

Diagram 1: Drill Hole Locations is available at the following address: http://media3.marketwire.com/docs/939709a.pdf

QA/QC

Carlisle's exploration programs are carried out under the supervision of Peter Karelse P.Geo., Vice-President of Exploration, a Qualified Person as defined by NI 43-101, who reviewed and approved the technical content of this press release.

Samples were transported directly in secure containers from the Carlisle Goldfields site in Lynn Lake, Manitoba, to the TSL Laboratories in Saskatoon, Saskatchewan. TSL, which is an accredited ISO/IEC 17025 lab, assayed the samples using standard fire assay methods with a gravimetric finish. Certified standards are placed in the sample stream at a rate of one standard per 20 samples. Certified blanks are placed in the sample stream at a rate of one blank every 40 samples. One lab reject duplicate per 30 samples is submitted to an umpire lab for assay verification. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used.

About Canadian Orebodies Inc.

Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Nunavut, Ontario and Manitoba. Canadian Orebodies trades on the TSXV under the symbol "CO".

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