CXO Colorado Resources Ltd

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is
pleased to announce that Dr. Jim Oliver, Ph.D., P.Geo., has joined the Colorado
team as Chief Geoscientist.


Dr. Oliver has more than 25 years exploration experience specializing in global
mineral deposit evaluations and early to advanced stage project valuations. He
has worked on five continents, in 25 countries and examined or worked on
approximately 400 mineral occurrences or deposits. He has acted as a geological
consultant to major mining companies, to junior companies and to government
geological surveys. Most recently Dr. Oliver held the title of Vice President of
Geology for the Hunter Dickinson (HDI) Group of Companies. In that role he was
instrumental in the successful acquisition of several mineral projects and
deposits and provided leading edge geoscience input on a diverse range of
deposit types. Above all, Jim is a committed and energetic explorationist and
his successful track record is a strong testament to that commitment.


Mr. Adam Travis, President and CEO of Colorado Resources, states: "I am
extremely pleased to be able to welcome Jim to our team. I have had the
privilege of working with Jim for over 5 years on projects throughout the world
and cannot overstate the skill and depth of technical expertise that he brings
with him to our team. With Colorado's strong treasury, and further strengthening
our team, we are poised to take full advantage of the opportunities ahead."


Colorado further advises that 1,595,000 stock options at a price of $0.30 per
common share (the "Options") in accordance with the policies of the TSX Venture
Exchange have been granted to Directors, Officers, employees and consultants of
the Company.


The Options have been granted in accordance with the terms of the Company's 10%
rolling stock option plan approved on December 8, 2011.


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

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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