Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

November 07, 2006 15:04 ET

Candorado Consolidates Central British Columbia Properties and Acquires an Additional 25,000 Acres Through Staking

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2006) -

Candorado Operating Company Ltd. (TSX VENTURE:CDO)

Candorado Operating Company Ltd. is pleased to announce that subject to regulatory approval it has agreed to purchase the 50% Joint Venture interest in approximately 66,000 hectares (660 sqkm) from Mr. Ross Blusson for the purchase price of 500,000 common shares. The properties are located in the Canim Lake and Murphy Lake area, east of Williams Lake, B.C.

All of the claims are within the 2005 and 2006 targeted Geoscience Initiative, an airborne geophysical survey which was conducted as a partnership between Geoscience B.C., Natural Resources Canada and industry partners.

Furthermore, the company acquired an additional 25,000 acres east of its Rayfield River porphyry property near 70 Mile House, by way of staking. Candorado now holds an interest in mineral rights to over 2,500 sqkm within the central part of the Quesnel trough. More than 90% of the claims are 100% owned by the company.

The Quesnel trough is Western Canada's most prolific copper belt hosting a number of mines such as Highland Valley, Mount Polley, Gibraltar and Kemess. The area covered extends from the company's Rayfield River property, a known porphyry system in the south for approximately 110 km to Fjordland's Woodjam property in the north.

Rene Bernard, Chairman

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.

Contact Information

  • Candorado Operating Company Ltd.
    Rene Bernard
    (250) 860-2950
    (250) 860-2957 (FAX)
    Candorado Operating Company Ltd.
    Suite 208, 478 Bernard Avenue
    Kelowna, British Columbia, Canada, V1Y 6N7