Colorado Resources Approves Advance Notice Policy

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 12, 2013) - Colorado Resources Ltd. (TSX VENTURE:CXO) ("CXO") the "Company" or "Colorado" board of Directors (the "Board") has approved an advance notice policy (the "Policy") effective July 9, 2013. The Company intends to seek ratification of the Advance Notice Policy by the shareholders of the Company at the Company's next general meeting of shareholders to be held on September 10, 2013.

The Advance Notice Policy includes, among other things, a provision that requires advance notice to be given to the Secretary of the Company in circumstances where nominations of persons for election to the Board are made by shareholders of the Company other than pursuant to either a requisition of a meeting made pursuant to the provisions of the British Columbia Business Corporations Act (the "Act") or a shareholder proposal made pursuant to the provisions of the Act.

The Advance Notice Policy sets a deadline by which shareholders must submit to the Company nominations (the "Notice") for the election of directors prior to any annual or special meeting of shareholders, sets forth the information that a shareholder must include in the Notice to the Company, and establishes the form in which the shareholder must submit the Notice.

In the case of an annual meeting of shareholders, a Notice must be provided to the Company not less than 30 days and not more than 65 days prior to the date of the annual meeting. In the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting is made, a Notice must be provided to the Company not later than the close of business on the 10th day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting) notice to the Company must be made not later than the close of business on the fifteenth day following the day on which the first public announcement of the date of the special meeting is made.

The full text of the Policy is available under the Company's profile via SEDAR at www.sedar.com.

About Colorado

Colorado is engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in Canada and is also aggressively seeking quality properties in the US southwest and Latin America.

Colorado's current exploration focus is the advancement of its 100% owned North ROK and its optioned Eldorado projects which are located within 10 - 15Km of the Red Chris mine development, in northern British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS OF

Colorado Resources Ltd.

Adam Travis, President and Chief Executive Officer

NR 13-13

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.