Fjordland Exploration Inc.

Fjordland Exploration Inc.

June 15, 2008 08:15 ET

Fjordland Exploration Inc.: Drilling Intersects 402 Metres of 0.39% Copper, 0.006% Molybdenum and 0.077 g/t Gold in Southeast Zone of Woodjam Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2008) - Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB) report assays from the fourth and final hole of initial 2008 diamond drilling at their Woodjam porphyry copper-molybdenum-gold project in central British Columbia. Hole 08-83 intersected 402 metres grading 0.39% copper, 0.006% molybdenum and 0.077 g/t gold.

Hole 08-83 represents a 78-metre step-out south from hole 08-82. The higher-grade intersection of copper, along with elevated gold is encouraging considering that the Megabuck and Takom zones to the northwest and west respectively carry significant amounts of gold, as well as copper. A summary of significant results for hole 08-83 with the results for previously released holes 07-79 to 08-82 is provided in the following table:

Drill Hole From (m) To (m) length (m) Cu% Mo% Au g/t
08-83 128.6 530.6 402.0 0.39 0.006 0.077
Including 128.6 200.5 71.9 0.63 0.003 0.123
Including 128.6 365.0 236.4 0.50 0.003 0.106
Previously Reported
07-79 145.2 348.8 203.6 0.34 0.014 0.047
08-80 189.9 581.6 391.7 0.22 0.012 0.046
08-81 172.2 393.2 221.0 0.28 0.016 0.060
08-82 129.5 700.4 570.9 0.24 0.013 0.038
All holes bottomed in mineralization and were lost due to bad
ground conditions or rig capability.

Between February and May 2008, four holes (08-80 to 83) totaling 2,206 metres were completed on the Southeast Zone. Results from the first three holes were previously reported and included hole 08-82 which assayed 570.9 metres grading 0.24% copper and 0.013% molybdenum (0.35% copper equivalent) - see May 21, 2008 news release.

The style and grades of mineralization in the Southeast Zone are comparable with those at significant copper-molybdenum mines in BC such as at Teck Cominco's Highland Valley Copper deposit (2007 reserves of 318.7 Mt grading 0.43% Cu and 0.008% Mo) and Taseko Mines' Gibraltar deposit (2007 reserves of 383.6 Mt grading 0.31% Cu and 0.009% Mo).

A total of seven holes have now been drilled and reported for the Southeast Zone; all have started in mineralization at bedrock surface after penetrating the overburden and ended in mineralization (due to drill capacity or bad ground conditions). The IP chargeability anomaly measures about 1.5 kilometres by 1 kilometre; to date, drilling has tested a strike length of about 800 metres. The Southeast Zone is open to expansion to depth and in all directions; the joint venture companies are optimistic about the potential to develop a large tonnage of mineralized material.

Drilling on the Southeast Zone was terminated in mid-May due to spring conditions. Drilling will recommence later this month, with a minimum of 3,000 metres of drilling on the Southeast Zone. Holes will be drilled at a minimum of 100 metre spacing.

The companies have also received the final results from their 88-line-kilometre induced polarization and 54-line-kilometre magnetic surveys. Several new anomalies have been identified, including the significant expansion westwards onto the newly acquired Magalloy option of the Takom copper-gold zone, which now measures 3 kms by 3 kms. These anomalies include several high priority targets for follow-up drilling.

Analyses were performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) procedures, with gold and silver determined using fire assay procedures. External standards were inserted into the sample sequence at a ratio of one standard per twenty-five samples. Bruce Laird, P.Geo., of Mincord Exploration Consultants Ltd. is supervising the 2008 drilling program and sampling protocol. Tom Schroeter, P.Eng./P.Geo.,who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

About Fjordland Exploration Inc.

Fjordland Exploration Inc. is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia and the Yukon. Fjordland has a 60% interest in the 44,413-hectare Woodjam copper-gold-molybdenum property in south-central British Columbia and is operator of the project; Cariboo Rose Resources Ltd holds the remaining 40% interest. Fjordland also has a 50%-50% joint venture with Serengeti Resources Inc. (TSX VENTURE:SIR) on the QUEST project to explore 27 properties totalling approximately 144,000 hectares in the heart of British Columbia's Quesnel Terrane for precious and base metals. Shares of Fjordland Exploration Inc. trade on the TSX Venture Exchange under the symbol "FEX". For further information visit the Company's website at

Tom Schroeter, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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