Colorado Appoints New Director
WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - May 7, 2015) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce the appointment of William Lindqvist as a Director of the Company. Dr. Lindqvist possesses more than thirty-five years of international exploration experience, and has participated in gold discoveries across a broad spectrum of geologic terrains.
Dr. Lindqvist is presently a director of Luna Gold Corp., Andean Gold Ltd. and Damara Gold Corp. In the past, he served as the Vice President of Exploration for Homestake Mining Company, and as the Executive General Manager of Exploration for Newcrest Mining Ltd..
Dr. Lindqvist has a Ph.D in Applied Geology from the Royal School of Mines in London, and is a member of the Aus IMM, SEG, and AIME.
Dr. Lindqvist's previous discovery experience includes:
- Gosowong bonanza gold deposit in Indonesia
- Chimney Creek, Mule Canyon, Ruby Hill, Gold Hill gold deposits in Nevada
- Mesquite gold deposit, California
- Shafter silver deposit, Texas
- Ortiz gold deposit, New Mexico
- Extensions of Eskay Creek gold-silver deposit, British Columbia
- Jeronimo gold manto, northern Chile
- Arenal Deeps, Uruguay
Adam Travis stated; "We want to welcome Dr. Lindqvist to our board, his extensive experience will be highly beneficial to the Colorado Board and its shareholders. William will also serve as the Chair of our Audit Committee, and we look forward to his guidance as we move forward in the advancement of Colorado and its North ROK and KSP projects.
The Company further announces it has granted 960,000 stock options (the "Options") in accordance with the terms of the Company's 10% rolling Stock Option Plan approved by shareholders on October 7, 2014, to Directors, Officers, Consultants and Employees of the Company.
The Options are exercisable for a period of five years at a price of $0.15 per common share granted.
About Colorado
Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and is also seeking opportunities in Southwest USA and Latin America.
Colorado's current exploration focus is to continue to advance its North ROK property, located 15 km's northwest of the Red Chris mine development, and its KSP property optioned from SnipGold, located 15 km's along strike to the southeast of the past producing Snip Mine, both located in northern central British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.
Adam Travis, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, specifically the resource estimate and any future exploration work at the North ROK project, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the mineralization at North ROK conforms with the geological model as described in the Report, that the Company continues to maintain a good relationship with the local North ROK project communities, and that future metal prices reflect or exceed those used in the resource estimate as a result of future demand for metals. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management's Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
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.
Contact
Colorado Resources Ltd.
Adam Travis
President and Chief Executive Officer
(250) 768-1511 or TF (855) 768-1511
(250) 768-0849
Colorado Resources Ltd.
Terese Gieselman
Chief Financial Officer
(250) 768-1511 or TF (855) 768-1511
(250) 768-0849
www.coloradoresources.com