Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

November 20, 2007 16:01 ET

Candorado Completes New High-Resolution Airborne Geophysical Survey on the 48,000 Hectare "K-CR Property" North of Kamloops, British Columbia

KELOWNA, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2007) - Candorado Operating Company Ltd. (the "Company") (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce completion of a new, high resolution helicopterborne multisensor geophysical survey over the southern half of the 100% owned K-CR property north of Kamloops Lake, British Columbia. The property overlies Nicola volcanic rocks and intrusions within the Quesnel Trough, known for hosting several porphyry Cu-Au (Mo) deposits and producing mines. More specifically, the property covers the northwestern extension of geological and structural features which host more than a dozen past-producing mines and numerous other deposits within the Afton camp, located only a few tens of kilometres to the southeast (includes the New Afton Cu-Au Project: measured and indicated mineral resource of 65.7 million tonnes grading 1.02% Cu, 0.77g/t Au, and 2.59g/t Ag).

The successful application of these airborne techniques has been demonstrated by similar surveys flown previously over the Afton camp (Geological Survey of Canada, Open File 2817, Iron Mask Area Survey). Candorado's new airborne survey was flown by Fugro Airborne Surveys during November 11-17, 2007. Gamma ray spectrometric and magnetic total field data were collected at 60m terrain clearance along flight lines spaced at 200m intervals. This information will provide much higher resolution magnetic data relative to the existing regional public domain data over the property, and links directly with the GSC Iron Mask survey. In combination with the gamma ray spectrometric information, the data can be interpreted in geophysical and geochemical terms to provide new exploration targets and to support follow-up to several existing copper gold and molybdenum anomalies located within the property.

Data delivery is expected late December and will be interpreted (R. Shives, GamX Inc.) prior to next summer's exploration program in the area. Exploration on the K-CR property is being conducted under the supervision of W.R. Gilmour, P.Geo, of Discovery Consultants, a "qualified person" as defined by National Instrument 43-101.

About Candorado

Candorado is a B.C. based mineral exploration Company with large mineral rights holdings in Central, Northern and Southern British Columbia. The Company is in the midst of several exploration projects involving geochemical and geophysical programs as well as drill testing high priority targets and will report on results as soon as they are available.

ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.

Contact Information

  • Candorado Operating Company Ltd.
    Daniel Gallagher
    (250) 979-2590
    (250) 860-2957 (FAX)