Fjordland Exploration Inc.
TSX VENTURE : FEX

Fjordland Exploration Inc.

May 18, 2011 07:30 ET

Fjordland Exploration Inc.: Drilling at Woodjam North (Deerhorn Zone) Intersects 207.5 m Grading 1.00g/t Gold and 0.18% Copper, Including 90 m Grading 1.90g/t Gold and 0.29% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2011) - Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB), 60%-40% partners in the Woodjam Joint Venture ("WJV"), report that Gold Fields Limited's (NYSE:GFI) exploration company, Gold Fields Horsefly Exploration Corporation ("Gold Fields"), has forwarded drill results from an additional 2 holes of the 2011 drilling program on the Deerhorn Zone of the Woodjam North gold-copper property. The property is located 45 km east of Williams Lake in south-central British Columbia.

The results from these two holes continue to define and expand the mineral trend as previously outlined by holes DH09-03, DH10-04, 05, 20, 21, 23, 25, DH11-26, 27, 29 and 30. The higher-grade shoot appears to plunge moderately to the southeast and has dimensions of approximately 350 m in strike, 100 m in width and 200 m in depth and remains open. This higher grade shoot is enclosed within a much larger, lower grade envelope containing quartz (locally sheeted) with magnetite vein-hosted and disseminated chalcopyrite mineralization in potassic-altered zones of fine-grained volcaniclastic rocks with interfingering monzonitic dykes. A drill location map may be viewed at www.fjordlandex.com/news/nr11-07b.pdf.

The Phase One 2011 drilling program commenced on February 10th and ended on April 4th; 9 holes totaling 2,050.7 metres were completed. Assay results for the final hole are pending. The program was designed to expand the mineralized zone intersected in previously reported holes DH10-21 (156.6 m grading 1.14g/t Au and 0.29% Cu, including 64 m grading 1.92g/t Au and 0.26% Cu), DH11-26 (151.5 m grading 0.83g/t Au and 0.21% Cu, including 68.8 m grading 1.17g/t Au and 0.35% Cu) and DH11-30 (160.3 m grading 1.03g/t Au and 0.25% Cu, including 39.6 m grading 2.07g/t Au and 0.47% Cu).

Deerhorn Zone Drilling Highlights:

Hole IDFrom (m)To (m)Int. (m)Au g/tCu%Au Eq g/t
DH11-3284.0291.5207.51.000.181.32
including84.0220.0136.01.370.231.79
including123.0213.090.01.900.292.42
including105.2125.620.41.050.301.58
including191.7209.017.33.170.353.80
DH11-33110.0259.0149.00.300.230.71
including112.0201.389.30.400.320.96
including154.0185.531.50.520.351.15
including117.0128.311.30.630.721.92

Au Equivalent in g/t calculated using US$950/oz gold, US$2.50/lb copper and the formula: ((g/t Au + (%Cu x 22 x Price Cu/lb)) / (Price Au/oz x 0.032151). Metallurgical recoveries and net smelter returns are not considered.

Hole DH11-31 was lost in overburden at 49.4 m.

Hole DH11-32 intersected chalcopyrite with magnetite and hematite as fine-grained disseminations and in sheeted quartz veins, hosted by fine-grained volcaniclastic rocks and monzonitic dykes. A 207.5 m interval assayed 1.00g/t Au and 0.18% Cu and included several higher-grade intervals (see Table).

Hole DH11-33, the most northwesterly drill hole along the mineralized trend, intersected a similar alternating sequence of volcaniclastic rocks and monzonitic dykes with similar styles of alteration and mineralization. A 149.0 m interval assayed 0.30g/t Au and 0.23% Cu and included several higher-grade intervals (see Table).

In addition, a second mineralized trend in the Deerhorn Zone, to the north of the zone reported in this release and with approximate dimensions of 700 m in length and 100 m in width, was previously indicated by drilling in 2010. No further testing has yet taken place on this trend.

Fjordland President Tom Schroeter says: "These additional assay results from the Deerhorn Zone have defined a potentially very significant zone of gold and copper mineralization. The zone is open in all directions; we look forward to seeing follow-up drilling and modeling on this zone over the year."

Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. 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 is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Of the 28 properties Fjordland owns, the Woodjam North and Woodjam South properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Fjordland (60%) and Cariboo Rose Resources Ltd (40%); both properties are under separate option agreements to Gold Fields Horsefly Exploration Corporation. Fjordland also has a 100% interest in 7 properties known as "Tak" totaling 52,342 ha in the Woodjam area. Fjordland has a 100% interest in the 2,192 ha

"Milligan" project, adjoining Thompson Creek Metals Company Inc.'s Mt. Milligan copper-gold deposits on the west. The Tak-Milligan properties have been optioned to Capstone Mining Corp. Fjordland and Serengeti Resources Inc. are 41%/59% partners exploring 12 properties (QUEST Project) totaling 56,670 ha in the Quesnel terrane north of Woodjam for precious and base metals. Fjordland has a 100% interest in 8 properties totaling 60,047 ha in the Iron Range area and has an option agreement on 7 properties totaling 21,222 ha with Kootenay Gold Inc. in southeastern BC. Fjordland's shares trade on the TSX Venture Exchange under the symbol "FEX". For more information visit Fjordland's website at www.fjordlandex.com.

About Gold Fields Limited

Gold Fields is one of the world's largest unhedged producers of gold with attributable annualized production of 3.6 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 77 million ounces and Mineral Resources of 225 million ounces. For more information visit the company's website at www.goldfields.co.za.

Tom Schroeter, President & CEO

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

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