CXO Colorado Resources Ltd

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is
pleased to announce completion of a drilling program on its Red Sky property
("Red Sky" or the "Property") located approximately 150 kilometres by road west
of Williams Lake and south of the community of Redstone. The Property has the
potential to host copper-gold porphyry style mineralization similar to Taseko's
Prosperity deposit as well as bulk tonnage gold mineralization similar to that
found on Amarc's Newton property located approximately 30 kilometres southeast
of Red Sky.


The Property is being explored under the terms of an Exploration Agreement with
Kinross Gold Corporation (TSX:K)(NYSE:KGC), one of the world's leading senior
gold producers. The Company has now completed the $500,000 of expenditure
requirements under the Exploration Agreement to complete a 50/50 JV earn in. The
work program consisted of geological mapping, till and rock chip sampling,
induced polarization and magnetometer geophysical surveying and drilling.


Drilling was undertaken to test a partially open, 600 x 1,000 metre
chargeability anomaly in an area covered by glacial overburden. This
chargeability anomaly coincides with a copper, zinc, gold and silver geochemical
anomaly defined earlier through detailed till sampling. The drill program was
comprised of 4 holes totaling 628 metres. Geological observations of the drill
core note multiple phases of intrusions into volcanic rocks displaying a variety
of textures and compositions. All of the rocks have been cut by extensive faults
with associated clay alteration and variable sulphide accumulations.


Company President Adam Travis states, "I am very pleased that we were able to
complete an initial drill program to test the large coincident chargeability and
till anomaly before the onset of winter. We have observed areas of alteration in
the drill core and eagerly await assay results. Results from our 2011 work
program will provide a good base upon which to plan for next year's program on
the Property."


Qualified Person

Mr. Greg Dawson, P.Geo., is the Qualified Person as defined by National
Instrument 43-101 who supervised the preparation of the technical data in this
news release.


About Colorado

Colorado is currently engaged in the business of mineral exploration for the
purpose of acquiring and advancing mineral properties located in British
Columbia and the Yukon and is also aggressively seeking properties in Latin
America. Colorado's primary focus is on the Oro Property located in the
MacMillan Pass area of the Yukon, in which it has the option to acquire a 100%
interest.


ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.

Adam Travis, President and Chief Executive Officer

NR 11-17

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of
Canadian securities laws. Such information includes, without limitation,
information regarding proposed exploration activities. Although the Company
believes that such information is reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking information is typically
identified by words such as: believe, expect, anticipate, intend, estimate,
postulate and similar expressions, or are those, which, by their nature, refer
to future events. The Company cautions investors that any forward-looking
information provided by the Company is not a guarantee of future results or
performance, and that actual results may differ materially from those in
forward-looking information as a result of various factors, including, but not
limited to, the state of the financial markets for the Company's equity
securities, the state of the market for gold or other minerals that may be
produced generally, recent market volatility; variations in the nature, quality
and quantity of any mineral deposits that may be located, the Company's ability
to obtain any necessary permits, consents or authorizations required for its
activities, to raise the necessary capital or to be fully able to implement its
business strategies and other risks associated with the exploration and
development of mineral properties. The reader is referred to the Company's
prospectus dated September 16, 2010 for a more complete discussion of such risk
factors and their potential effects, a copy of which may be accessed through the
Company's page on SEDAR at www.sedar.com.

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