Colorado Resources Ltd.
TSX VENTURE : CXO

Colorado Resources Ltd.

September 14, 2011 17:38 ET

Colorado Resources Appoints Greg Dawson as VP-Exploration

WEST KELOWNA, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2011) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce the appointment of Mr. Greg Dawson as the Company's Vice President of Exploration.

Mr. Greg Dawson, P.Geo., Msc, has over 25 years of experience in the exploration business and most recently was the President of Redtail Metals Corp. Previous to Redtail Metals, he spent several years with Teck Exploration Ltd. working internationally in Central Asia and South America.

Mr. Dawson is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is a director of the Association for Mineral Exploration British Colombia (AMEBC).

Mr. Adam Travis President and CEO of Colorado Resources states: "I have known Greg for a number of years and he brings to the Colorado Team a depth of experience in designing and conducting successful exploration programs in a variety of geographic and geologic environments."

Colorado further advises that 150,000 stock options at a price of $0.70 per common share (the "Options") in accordance with the policies of the TSX Venture Exchange have been granted to Mr. Dawson.

The Options have been granted in accordance with the terms of the Company's 10% rolling stock option plan approved on March 18, 2011.

About Colorado

Colorado is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and the Yukon and is also aggressively seeking properties in Latin America. Colorado's primary focus is on the Oro Property located in the MacMillan Pass area of the Yukon, in which it has the option to acquire a 100% interest.

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

Adam Travis, President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding proposed exploration activities. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's prospectus dated September 16, 2010 for a more complete discussion of such risk factors and their potential effects, a copy of which may be accessed through the Company's page on SEDAR at www.sedar.com.

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: 1-888-860-2666

    Colorado Resources Ltd.
    Terese Gieselman
    Chief Financial Officer and Secretary
    (250) 768-1511 or Toll Free: 1-888-860-2666
    (250) 768-0020 (FAX)
    www.coloradoresources.com