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| | Overview: Candorado Operating Company Ltd (CDO-TSX.V) has entered into an option agreement with Callinan Mines Ltd (CAA-TSX.V), whereby Callinan Mines has the right to earn a 60% interest in the Rayfield River property by making a one time cash payment of $ 50,000, issue a total of 100,000 shares of the company to Candorado, and spend $ 600,000 in exploration expenses on the property by Dec 31, 2008. The agreement is subject to an underlying 2% NSR to the original owner. Location, Infrastructure and Resources: • The Rayfield River property covers 787 km2 in the Southern Cariboo region of British Columbia 25 km east of 70 Mile House • Property has good access by a network of logging and exploration roads • 70 Mile House, 100 Mile House and Williams Lake, located along Highway 97 west of the property are strongly resource orientated communities History: • The property has been explored by Kennco Explorations Ltd and Cominco Ltd in the 1960s • In 1968 -- 1970 Amex carried out geological mapping, soil sampling, magnetometer and IP surveys, and 1748 m of shallow percussion drilling • In 1989 Brenda Mines completed geological mapping, an IP survey and 1141 m of drilling. Geology: • Situated within the southern portion of the Quesnel Terrane, which is dominated by alkalic and calc-alkalic island-arc volcanics and co-magmatic intrusives of the Triassic Nicola Group • Lies in a window through extensive Miocene plateau basalts, which blanket much of the region • The Jurassic Rayfield River pluton has been mapped as a zoned pluton, grading inward from diorite to amphibole syenite to leucocratic syenite. Mineral Occurrences: • Copper sulphide minerals (chalcopyrite, bornite) and copper oxide minerals (malachite, cuprite and native copper) are present, along with potassium feldspar alteration • The geology, alteration and mineralization encountered confirm that an copper porphyry system exists on the property Historic Exploration Results: The best drill results by Brenda Mines were: 0.18 % Cu and 71 ppb Au over 33.9 m 0.14 % Cu and 30 ppb Au over 66.7 m 2006 - 2008 Exploration Program Highlights: • In 2006 a detailed radiometric and magnetic airborne survey was flown over the property; Robert Shives, a recognized expert in the interpretation of airborne radiometric surveys and consultant to Candorado has been encouraged by the results • In 2007 reconnaissance soil surveys were carried out • In late 2007 and early 2008 Callinan Mines completed 6 diamond drill holes, totalling 1543 metres 2008 Exploration Program: • Analytical results are pending for most of the drilling • A thorough review of all past and recent exploration is now underway • If results are encouraging, Callinan plans to continue the drill program in the spring Rayfield Fact Sheet
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