Colorado Grants Stock Options

WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - May 1, 2014) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces it has granted 1,095,000 stock options (the "Options") in accordance with the terms of the Company's 10% rolling Stock Option Plan approved by shareholders on September 10, 2013, to Directors, Officers, Consultants and Employees of the Company.

The Options are exercisable for a period of five years at a price of $0.265 per common share granted.

About Colorado

Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and is also aggressively seeking opportunities in the U.S. southwest and Latin America.

Colorado's current exploration focus is advancing its 100% owned North ROK property, located 15 km's northwest of the Red Chris mine development, and the recently acquired KSP property located 15 km's along strike to the southeast of the past producing Snip Mine, both located in northern British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.

Adam Travis, President and Chief Executive Officer

NR 14-04

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.