Candorado Operating Company Ltd.

Candorado Operating Company Ltd.

March 30, 2006 09:25 ET

Candorado Operating Company Ltd.: Proposed Best Efforts Private Placement for 1,000,000 Million Flow-Through Shares and 1,000,000 Non Flow-Through Units

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - March 30, 2006) - Candorado Operating Company Ltd. (TSX VENTURE:CDO)

Candorado is pleased to announce a non-brokered private placement on a best efforts basis, for up 1,000,000 flow-through common shares priced at $0.20 cents. In addition the Company proposes to complete an additional non-brokered private placement for 1,000,000 non-flow through units priced at $0.175. Each unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase an additional common share of Candorado for a period of two years with an exercise price of $0.20 in the first year and $0.25 in the second year.

A finder's fee may be payable on a portion of the financing which may be paid in cash and/or common shares of the Company in accordance with the policies of the TSX Venture Exchange ("TSX-VE"). The financing is to be used for mineral exploration programs on Candorado's properties in British Columbia and working capital.

The private placement is subject to TSX-VE approval and in accordance with the securities legislation currently in effect, the shares will be subject to a "hold period" of four months plus one day from the date of issuance.

Candorado is an aggressive junior exploration company with extensive mineral right holdings in British Columbia's Quesnel Trough, deemed Canada's most prolific copper belt. The Company's other British Columbia holdings include exploration properties such as: the Eldorado Project which lies adjacent to B.C. Metals, Red Cris copper/gold porphyry development ; the Pitt Island claim group which follows a several km long VMS zone wherein a 2005 field program has identified values of over 5% zinc, 2.5% copper, lead, silver and gold over a 4.5 meter and 2.8 meter zone respectively. In addition to its British Columbia holdings another property of Merit to note is the Company's Aurora Extension property located in northeastern Ontario, which is to the south and west of Tradewinds "Aurora" property approximately 10 km south of the historic Detour Lake mine.

"Rene Bernard", Chairman

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

Cautionary Statement on Forward-Looking Information

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 or accuracy of this news release.

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