COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is
pleased to report the results of Induced Polarization geophysical surveys
recently completed and announce a new I.P discovery and a 5,000 m drill program
on its 100% owned North ROK Property located 15 kms northwest of Imperial Metals
Red Chris Mine in NW British Columbia.


A total of 84 line km of detailed three dimensional (3D) Induced Polarization
(I.P) has been completed to date by Walcott and Associates over an area of 10
square km (2-3 km by 4.0 km). This completes coverage for a distance of over 2
km south of the discovery drillhole.


Colorado has also recently discovered a new I.P chargeability anomaly (greater
than 20 mv/v) that is 1 km north of the discovery drillhole that is 500-800 m
wide and 1300 m long and open to the north. I.P and ground magnetic surveying is
now being conducted to the north to further delineate this new un-tested
anomaly.


With the completion of the geophysical surveys to the south, the full extent of
the Mabon chargeability high now measures more than 1300 m x 2000 m, and is
cored by a continuous magnetic high with dimensions of 300-400 m wide x 1200 m
long. The coincident chargeability and magnetic anomaly has only been drill
tested on its far northern end over a 100 m x 300 m area and has demonstrated a
very strong correlation with well mineralized copper-gold drill intercepts as
previously reported. 


Based on these highly encouraging geophysical results the Company is pleased to
report that its board has approved a $2 million dollar, five thousand (5,000)
metre drill program to concentrate on the 300-400 m wide x 1200 m long magnetic
anomaly. Geological crews are currently on site with the drilling program to
start next week. These holes will be drilled utilizing the permitted 10 drill
pad program (only 3 have been used to date). The Company has also applied for an
expanded drill permit, allowing for a further 40 drill pads. 


A 3D modeling and sectional interpretation has been posted to the company
website (www. coloradoresources.com) with sections displaying strong magnetic
highs up to 300 m widths and over 500 m depths (open to depth). Some of the
largest magnetic features occur up to 500 m southeast of discovery Drillhole
NR13-001 and have not yet been tested by drilling. 


Separate magnetic high features within the southern portion of the chargeability
anomaly up to 200 m widths and 400 m lengths are also noted and remain untested.
These magnetic anomalies have a strong correlation with new gold in soil
anomalies (gold greater than 56 ppb) currently being compiled. 


To view a map of the area, please visit the following link:
http://media3.marketwire.com/docs/cxo612i.pdf. 


Adam Travis, the Company's President and CEO stated, "We have been very busy
over the last few weeks completing ground geophysical, geochemical and
geological surveys in preparation for future drilling. We now have extensive
technical data for the southern portion of our property in hand that will allow
for an effective drill campaign to begin. Significant mineralized intercepts
from Drillholes NR13-001, 003 and 004 correlate well with magnetic highs that
occur over 1200 m lengths and up to 400 m widths and deeper than our surveys can
detect at 500 m depths. Where we have intersected the magnetic high feature in 3
drillholes over 694 metres of cumulative lengths our average grade is 0.40 %
copper and 0.60 g/t gold. To put that in context, the East and Main Zones at
Imperial Metals new Red Chris Mine occurs in a 200-500 m wide by 1500 m long
zone (301.5 mt of 0.36% copper and 0.27 g/t gold). We are also seeing other very
prospective anomalies both to the north and south which indicate to me that we
may also have the start of a mineralized trend not unlike the satellite zones at
Red Chris."


Qualified Person 

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


About Colorado 

Colorado is 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 quality properties in the US southwest
and Latin America. Colorado's primary exploration focus is on the Eldorado and
North Rok properties in the Red Chris area. 


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
reports filed on SEDAR at www.sedar.com   for a more complete discussion of such
risk factors and their potential effects.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Colorado Resources Ltd.
Adam Travis
President and Chief Executive Officer
(250) 768-1511 or Toll Free: 1 888 860 2666


Colorado Resources Ltd.
Terese Gieselman
Chief Financial Officer and Secretary
(250) 768-1511 or Toll Free: 1 888 860 2666
(250) 768-0020 (FAX)
www.coloradoresources.com
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