Caldera Resources Inc.

Caldera Resources Inc.

March 10, 2005 09:00 ET

Positive Chrome Spinel Results At Ellendale East Mr. Ronald Winston Agrees To A Further Share Position In Caldera


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CALDERA RESOURCES INC.

TSX SYMBOL: CDR

MARCH 10, 2005 - 09:00 ET

Positive Chrome Spinel Results At Ellendale East Mr.
Ronald Winston Agrees To A Further Share Position In
Caldera

SOUTH PERTH, WESTERN AUSTRALIA--(CCNMatthews - March 10, 2005) - Caldera
Resources Inc. (TSX:CDR) is pleased to announce very encouraging
indicator mineral electron microprobe results, which strongly indicate
the potential for discovery of new lamproites at its 100% owned
Ellendale East Project. This project is located along a prominent
structural trend, 30 kilometres south-east from the Ellendale Diamond
Mine owned by Kimberley Diamond Co.

The chemistry of chrome spinels recovered from a recent sampling program
at 11 aeromagnetic anomalies suggests that some spinels have been
sourced from the diamond stability field. The sampled targets have been
identified from a 60 metre line-spaced magnetic survey, which suggests
the presence of up to 15 targets, and whose magnetic signature indicates
three targets having approximate surface areas of 10, 15 and 20 hectares.

The Company intends to prioritise follow-up of these positive results.
UTS Geophysics will complete a 25 metre line-spaced aeromagnetic survey
during April 2005 to provide the necessary target definition to carry
out a drill program during the second quarter of this year.

The Ellendale East Project which covers 246 square kilometres of highly
prospective ground is subject to a Right to Farm-in by Mr. Ronald
Winston, Chairman of Harry Winston Inc. The terms of this agreement are
for Caldera to expend A$300,000 on an agreed exploration program which
will include an airborne magnetic survey and a drill program. Subject to
these results, Mr. Winston can earn a 50% interest in the project by
reimbursing Caldera A$400,000 and spending A$3M over a 2 year period.

Mr. Winston can then elect to earn a further 10% interest by meeting
expenditure of A$7M over a further 3 years and making a cash payment of
A$1M to Caldera.

As part of this previously announced transaction, Mr. Winston can
subscribe to C$300,000 of shares in Caldera prior to 31 March 2005.
Caldera is pleased to advise that Mr. Winston is proceeding with this
financing, the details of which will be announced separately.

This new financing will result in a larger shareholding for Mr. Winston
who also subscribed for 4,000,000 shares at C$0.10 upon signing the
Right to Farm-in Ellendale agreement in August 2004.

The Ellendale Lamproite Field contains the highest density of
diamondiferous intrusions in Australia and consistently produces high
value, fancy yellow diamonds. Mr. Winston is enthusiastic about
Caldera's projects and is optimistic that the Company will produce
positive exploration results during 2005.

All exploration loam samples have been processed by Diatech and Western
Geolabs, both of Perth, Western Australia. Mineral identification and
electron microprobe analysis has been completed using the Scanning
Electron Microscope at CSIRO and the Electron Probe at UWA respectively.

Martin Jackson, a member of the Aus.I.M.M is the qualified person
responsible for the technical information in this news release.

Other Activities.

Caldera is engaged in diamond exploration in Australia through five
projects. Two projects are located in the Pilbara region of northern
Western Australia, one of which is joint ventured with Mr. Ronald
Winston of Harry Winston Inc. The Company also has two projects located
adjacent to the Ellendale Lamproite Field in the Kimberley region of
Western Australia. Both of these projects are also joint ventured under
separate arrangements with Mr. Ronald Winston. One project is located on
the Yilgarn Craton of Western Australia which is joint ventured with
SouthernEra Diamonds Inc. (SDM:TSX).

Caldera also has four base metal/gold projects in South Australia. One
of these projects is the Mt. Carulina Project which is an Olympic Dam -
style base metal/gold target.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This News
Release includes certain "forward-looking statements". All statements
other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of Caldera, are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially form those anticipated in such
statements. Important factors that could cause actual results to differ
materially from Caldera's expectations are exploration risks detailed
herein and from time to time in the filings made by Caldera with
securities regulations.



Canada

Suite 3100
40 King Street West
Toronto. Ontario. M5H 3Y2
Telephone: 416-865-6605
Facsimile: 416-865-6636
Website: www.calderares.com

Australia

1 Charles Street
Suite 8
South Perth. Western Australia.
6151
Telephone: 011-618-9367-7728
Facsimile: 011-618-9367-7705
E-mail: calderares@bigpond.com


Cusip: 1287D 105


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Caldera Resources Inc.
    Chris Reindler
    President
    011-618-9367-7728
    011-618-9367-7705 (FAX)