SOURCE: Core International Limited

May 02, 2007 08:30 ET

Core International Limited Completes VTEM Exploration Program on Wawa Property

TORONTO -- (MARKET WIRE) -- May 2, 2007 -- Core International Limited (PINKSHEETS: CRLD) is pleased to announce that the Company has completed an airborne geophysical survey using the services of Terraquest Limited (www.terraquest.ca). The Versatile Time-Domain Electromagnetic (VTEM) survey is the leading airborne geophysical system in use today and was applied to the Company's Dog Lake property in Wawa, Ontario. The VTEM technology has documented capabilities to detect highly conductive rock bodies to depths of up to 800 meters (2500 feet).

To date, we have surveyed only a small portion of our entire Dog Lake claim holdings and this will greatly accelerate our efforts in identifying prospective new targets for drilling. The preliminary results are encouraging and suggest further exploration on the Dog Lake property is required.

Core's subsidiary, Core Resources Management Inc., has entered into an Option Agreement with First Light Resources Inc. to earn up to a 75% interest in the property by carrying out further exploration programs over the next two years. First Light, an Ontario corporation, is the owner of approximately 7,000 acres of exploration property in the Dog Lake area.

The property held by First Light has a very attractive history with exploration activities dating back to the early part of the 1920s. The area is well known for gold discoveries and more recently for significant diamond exploration activity. Initial research carried out by First Light and earlier surveys done by the Ontario Ministry of Natural Resources shows multiple indicators for potential future discoveries.

According to Jan Vrba, President, "We have made significant operational progress moving the Company from an organization stage to a point where our primary focus is now acquisition and development. Turning to the future, I firmly believe that Core International Limited has the strategy and people in place to deliver long-term shareholder value. In addition, Core International Limited is moving forward with further acquisitions that will be more appealing to the investor community."

About Core:

Core International Limited is a company whose mandate is to find properties in both the mining and oil & gas sectors that may present excellent opportunities for exploration and development. The Company is currently in the process of negotiating several high profile acquisitions that will provide excellent growth potential for the Company and its shareholder base.

Cautionary Statement Regarding Forward-Looking Information:

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "potential," "estimate," "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, the lack of a quoted market for specific minerals, the possibility of project cost overruns or unanticipated costs and expenses, a history of net losses, dependence on the support of a significant shareholder, uncertainties relating to the availability and costs of financing needed in the future and other factors usual to the mining industry. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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