CXO Colorado Resources Ltd

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is
pleased to announce it will conduct a non-brokered flow through private
placement of up to 5,000,000 flow-through common shares of Colorado (a
"Flow-Through Share") at a price of $0.80 per Flow-Through Share for gross
proceeds of $4,000,000 of which 2,500,000 Flow-Through Shares have been
allocated to one institutional purchaser (the "Financing").


Proceeds from the Financing will be used primarily to advance exploration
activities on the Company's North ROK and other Canadian properties.


Colorado may pay finder's fees on a portion of the Financing in accordance with
TSX Venture Exchange (the Exchange") guidelines. All securities issued under the
Financing will be subject to a four month hold period from the date of issuance.
The proposed Financing is subject to the approval from the Exchange.


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 current exploration focus is on the Red Chris
area. 


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

Adam Travis, President and Chief Executive Officer

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or sold within
the United States or to United States Persons unless an exemption from such
registration is available.


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.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Colorado Resources Ltd.
Adam Travis
President and Chief Executive Officer
(250) 768-1511 or TF: (855) 768-8511


Colorado Resources Ltd.
Terese Gieselman
Chief Financial Officer
(250) 768-1511 or TF: (855) 768-8511
(250) 768-0020 (FAX)
www.coloradoresources.com

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