Candorado Operating Company Ltd. - News Releases - Candorado Announces New Directors and Non-Brokered Private Placement Financings for up to $750,000


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	October 21, 2009 Candorado Announces New Directors and Non-Brokered Private Placement Financings for up to $750,000
	Kelowna, British Columbia -- October 21, 2009 Candorado Operating Company Ltd. (the ''Company") (TSX VENTURE: CDO FRANKFURT/ BERLIN: HQU) is pleased to announce the appointments of Mr. Ray Ashley, B.Sc., P.Geoph. and Mr. Bill Gilmour, B.Sc., P.Geo., to the Company's board of directors. Mr. Raymond Ashley is an internationally recognized geophysicist with 25 years experience in mineral exploration. He has been involved in the management of exploration programs at a number of listed companies including BHP, Dia Met, Trigon Uranium, Trigon Diamonds and Diamondex Resources. Mr. Ashley also brings extensive contacts within the mineral exploration and financing industry to the existing Candorado management team. Mr. Gilmour is a co-founder of Discovery Consultants, a geological consulting firm and has over 35 years experience in worldwide mineral exploration. Mr. Gilmour also brings extensive management experience involving publicly traded mineral exploration companies. With this combined geological expertise the new directors bring a renewed focus to the Company's projects. Non-Brokered Private Placements Subsequent to a review of programs and budgets the Company is undertaking a best efforts non-brokered private placement for up to gross proceeds of $500,000. The private placement will consist of 10,000,000 flow-through units ("FT Unit") at a price of $0.05 per FT Unit. Each FT Unit will consist of one flow-through common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional non-flow-through common share at a price of $0.20 per share for a period of 12 months. In addition, the Company will complete on a best efforts basis a non-brokered private placement for up to 5,000,000 non-flow-through units ("NFT Unit") at a price of $0.05 per NFT Unit for gross proceeds of $250,000. Each NFT Unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.10 per share for a period of 12 months. The funds raised by way of the flow-through financing will be used for exploration of Candorado's recently acquired La Motte lithium properties in Quebec and ongoing development of the B.C. Quesnel Trough projects. Proceeds from the non-flow-through financing will be used for the evaluation and potential acquisition of "rare earth" and additional lithium prospects available to the Company and general working capital purposes. Finders fees in accordance with the Policies of the TSX Venture Exchange (the "Exchange") may be payable in a portion of the financings in cash and/or warrants. The private placement is subject to Exchange approval and in accordance with the securities legislation currently in effect, the shares will be subject to a "hold period" of four months plus one day from the date of issuance. About Candorado Candorado is a B.C. based mineral exploration company with extensive mineral tenures in central, northern and southern British Columbia, and lithium properties in Quebec. ON BEHALF OF THE BOARD OF DIRECTORS OF CANDORADO OPERATING COMPANY LTD. Kirk Reed, President and CEO For Further Information Please Contact: Candorado Operating Company Ltd. Tel: (250) 979-2595 Fax: (250) 860-2957 www.candorado.com The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release

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