Candorado Operating Company Ltd. - Timothy Lake

Overview:

Candorado Operating Company Ltd owns 100% of the Timothy Lake Property
The Property is located in the Quesnel Terrane and the exploration target is an alkalic copper-gold porphyry deposit

Location, Infrastructure and Resources:

The Timothy Lake property is located north and south of Timothy Lake in the Cariboo region of British Columbia, 15 km east of Lac La Hache, and comprises some 9,500 hectares
The Property adjoins the southern boundary of GWR Resources' Lac La Hache property, which hosts copper-gold porphyry mineralization at several occurrences
The Property has good access by a network of logging and exploration roads from the community of Lac La Hache, which is 15 km west of the Property
Lac La Hache and Williams Lake, located along Highway 97, are resource oriented communities

History:

Various parts of the Property have been explored by a number of companies in the 1980s and 1990s
Selco Inc explored the central part of the Property in 1982-1983, conducting a ground IP survey, soil sampling and a 2-hole percussion drill program
The Cyan-SW occurrence was discovered during a mapping program by PMA Resources in 1994, located in the northern part of the Property

Geology:

Situated within the central 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
A plug of monzonitic intrusive at the south-east end of Timothy Lake may be correlated to the mineralized Spout Lake intrusives to the north of the Property

Mineral Occurrences:

The Cyan-SW showing in the north part of the Property lies within Nicola Group polylithic breccia and conglomerate, where native copper occurs as vesicle fillings within a volcanic flow
Angular float within the area of the monzonitic intrusive contains anomalous copper, gold and silver

Recent Developments in the Area:

GWR Resources Inc. is continuing with an active drill program on its copper-gold porphyry prospect, adjoining the Property to the north
At the Spring Lake occurrence, recent exploration by Candorado consisted of prospecting in the areas of the airborne geophysical targets, follow-up soil surveys, and a ground IP-magnetometer survey. The IP anomaly remains untested.

2006 - 2008 Exploration Program Highlights:

A detailed radiometric and magnetic airborne survey was flown over the Property in 2006. The data was interpreted by R. Shives, consultant to Candorado. Several geophysical targets were generated
In 2007, Candorado, in a joint venture with GWR Resources, conducted a reconnaissance-scale exploration program including a heavy-mineral stream sediment program over major drainages, prospecting in the area of the 2006 geophysical targets, and four reconnaissance-type grid soil surveys
This work was followed up in 2008 with silt stream sampling, infill grid soil sampling and prospecting in the area of the soil grids. A 300 m x 400 m copper-gold soil anomaly was defined on a grid located near the southeast end of Timothy Lake in the area of the monzonitic intrusive

Proposed Exploration:

Conduct an IP-magnetic ground survey over selected parts of the Property
Extend the soil grid to better define the copper-gold anomaly south of Timothy Lake
Trench the main copper-gold anomaly