Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

August 22, 2007 10:15 ET

Candorado Drills 120 Meter Intersection of 0.21 % Copper and 0.92 Grams Per Tonne of Gold on Man Property, Princeton, British Columbia

KELOWNA, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2007) - Candorado Operating Company Ltd. (the "Company") (TSX VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to report further assay results from the Phase I 2007 drill program on the Man/Prime property near Princeton, BC.

Hole 694-008 returned a 120-metre intersection of 0.21 % copper and 0.92 grams per tonne gold, from 87 m to 207 m.

Other significant intersections are:

Hole 694-003: Grid location 9800N 10300E, 090 degrees azimuth, -50 degrees dip

A 13.5-metre intersection, from 78.0 to 91.5 m, assayed 0.24 % copper and 0.35 g/t gold.

A 10.0-metre intersection, from 140.0 to 150.0 m, assayed 0.20 % copper and 0.16 g/t gold.

A 32.0-metre intersection, from 169.0 to 201.0 m, assayed 0.23 % copper and 0.13 g/t gold.

Hole 694-007: Grid location 98000N 10200E, 090 degrees azimuth, -50 degrees dip

A 12.0-metre intersection, from 78.0 to 90.0 m, assayed 0.43 % copper.

Hole 694-008: Grid location 98000N 101000E, 090 degrees azimuth, -50 degrees dip

A 10.0-metre intersection, from 55.0 to 65.0 m, assayed 0.18 % copper and 0.19 g/t gold.

Hole 694-010: Grid location 100000N 101000E, 090 degrees azimuth, -50 degrees dip

A 10.0-metre intersection, from 32.0 to 42.0 m, assayed 0.20 % copper.

A 10.0-metre intersection, from 221.0 to 231.0 m, assayed 0.15 % copper and 0.31 g/t gold.

All drilling on the property is being conducted by Frontier Drilling Corp. of Kamloops.

The best historic hole in the area of the present drilling was hole 321-01, drilled in 1988. It returned 0.79 % copper over a 63-metre intersection. This result is deemed to be non-compliant with NI 43-101.

To the north of the present drilling, at approximately 1 and 1.5 km, preliminary results from an induced polarization (IP) survey show chargeability anomalies associated with copper soil anomalies.

Quality Assurance

Exploration on the Man/Prime 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.

All drill core is being split, with half the core being sent to Acme Analytical Laboratories Ltd in Vancouver, British Columbia for analysis. A fire assay method is being used for the gold analysis. A QA/QC protocol, including blank, duplicate and standard samples, has been established to ensure reliable interpretation of the analytical data.

About Candorado:

Candorado Operating Company Ltd (TSX VENTURE:CDO) is a mineral exploration company focused on copper-gold exploration in the Quesnel Trough of British Columbia. Candorado has an option to purchase an 80% interest in the Man/Prime from Bearclaw Capital Corporation. Candorado is one of British Columbia's largest mineral rights land holders with its copper/gold porphyry targets within the Quesnel Trough in Central British Columbia, the Serb Creek molybdenum deposit, the Eldorado property next to BC Metal's Red Chris copper porphyry deposit and the Pitt Island VMS prospect all located in Northern British Columbia.

Rene Bernard, President and CEO

On Behalf of the Board of Directors of Candorado Operating Company Ltd.

William Gilmour, P.Geo, a consultant to Candorado and a qualified person as defined by National Instrument 43-101, has reviewed the information in this news release.

The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.

Contact Information

  • Candorado Operating Company Ltd.
    Daniel Gallagher
    (250) 860-0628
    (250) 860-2950 (FAX)