Colorado Resources Ltd.
TSX VENTURE : CXO

Colorado Resources Ltd.

April 07, 2016 13:16 ET

Colorado Resources Announces Update on Recent Trading

WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - April 7, 2016) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces at the request of IIROC (Investment Industry Regulatory Organization of Canada), this it is fully disclosed of all material facts regarding the Company.

The Company's main exploration focus for 2016 is the KSP property which optioned from SnipGold to acquire up to an 80% interest (the "KSP Option") and has been described in the Company's earlier news releases. The Company continues to maintain its KSP Option and as described in its news release of February 29, 2016 plans to commence a 5,000m larger NQ sized diamond drill program this summer. The KSP property is located 15 km's along strike to the southeast of the past producing Snip Mine, located in northern central British Columbia.

Colorado's other main assets include its North ROK property, Hit Property and Heart Peaks Property recently optioned by Centerra Gold Inc. wherein they can earn up to a 70% interest all of which are located within British Columbia. Please refer to the Company's website www.coloradoresources.com for further details on these projects.

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 seeking opportunities in Southwest USA and Latin America.

Colorado's current exploration focus is to continue to advance: the KSP property optioned from SnipGold, located 15 km's along strike to the southeast of the past producing Snip Mine; its 100% owned North ROK property, located 15 km's northwest of the Red Chris mine development, both located in northern central British Columbia.

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

Adam Travis, President and Chief Executive Officer

NR 16-03

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management's Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

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.

Contact Information

  • Colorado Resources Ltd.
    Adam Travis
    President and Chief Executive Officer
    (250) 768-1511 or Toll Free: (855) 768-1511

    Colorado Resources Ltd.
    Terese Gieselman
    Chief Financial Officer
    (250) 768-1511 or Toll Free: (855) 768-1511
    (250) 768-0849 (FAX)
    www.coloradoresources.com