SOURCE: Core Resources Limited

January 10, 2007 11:00 ET

Core Resources Signs Option Agreement on Wawa Property

TORONTO -- (MARKET WIRE) -- January 10, 2007 -- Core Resources Ltd. (PINKSHEETS: CRLJ) is pleased to announce that it has entered into an Option Agreement with First Light Resources a privately held Canadian company. First Light Resources is the owner of approximately 7,000 acres of exploration property in the Dog Lake area, northeast of Wawa, Ontario.

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. Research carried out by First Light and earlier surveys done by the Ontario Ministry of Natural Resources shows multiple indicators for potential future discoveries.

Core and First Light have entered into a standard Option Agreement whereby Core can earn up to a 75% interest in the property by carrying out further exploration programs over the next two years.

Core has already contracted together with First Light to conduct a High Resolution Aeromagnetic Radiometric, XDS / VLF - EM Survey. This follows a similar earlier VLF - EM flyover carried out by First Light which found several areas of interest. The current survey is designed to confirm earlier results before a field team is dispatched into the area.

About Core:

Core Resources (CORE) 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. The goal of the Company is to cultivate and develop a portfolio of properties that will produce consistent income from which future acquisitions can be leveraged from.

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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