Candorado Operating Company Ltd.: Acquires Option on Deer and Friendly Claims,
Kamloops Area British Columbia

KELOWNA, BRITISH COLUMBIA, April 30, 2007

Candorado Operating Company Ltd. (the "Company") (TSX VENTURE: "CDO" FRANKFURT/BERLIN:"HQU") is pleased to announce it has entered into an option agreement to earn a 100% interest in the Deer and Friendly Lake properties from Electrum Resource Corp. The Company will pay aggregate cash payments of $825,000 with $40,000 due in the first year. The Company must also incur exploration and development expenditures totaling $1,350,000 over the next five years and upon TSX Venture Exchange approval, the Company will issue 75,000 common shares and an additional 885,000 over the next five years.
 
The Deer and Friendly Lake properties are situated northwest of Kamloops in southern British Columbia. These properties, covering 43 and 72 square kilometers respectively, are accessible via Highway 24 between Little Fort and 100 Mile House. Numerous logging roads provide access to both properties.

These strategic property acquisitions are situated along a northwest trending belt of volcanic, sedimentary and plutonic rocks that form the Quesnel Trough. This prolific geologic belt hosts many economically important mineral deposits including the currently producing Mt Polley mine. Other notable deposits are the former Copper Mountain and Afton-Ajax mines as well as the Mt. Milligan deposits. Recent exploration has resulted in the discovery of alkalic copper-gold porphyry deposits at GWR's Lac La Hache property and Serengeti's Kwanika property north of Mt Milligan.

Collectively the two properties host 10 documented mineral occurrences. Seven precious and base metal bearing skarn, intrusion and volcanic hosted copper and gold occurrences are documented on the Deer Lake property. Recent work resulted in the discovery of felsic intrusive float grading 20.7 g/t Au within a 400+ metre gold-copper-molybdenum-in-soil anomaly as well as a logging road discovery of copper-gold skarn bedrock grading 2.75 % Cu and up to 14.9 g/Au. Property wide stream sampling identified eight streams with visible gold for which the source(s) remain undiscovered.

On the Friendly Lake property mineral occurrences include copper-molybdenum-gold and in one case platinum group mineralization within intrusive and Nicola volcanic rocks. Past geochemical sampling outlined broad gold, silver, and lead-in-soil anomalies. In 2004 a drill hole reportedly intersected 24.5 metres of 0.104% copper.

The recently completed Bonaparte airborne geophysical survey delineated several large northwest trending potassium anomalies which may be prospective for the porphyry style copper mineralization. Detailed analysis of this data will be conducted and form the basis of the 2007 exploration programs.  

Warner Gruenwald, P.Geo. a Qualified Person as defined by National Instrument 43-101, has reviewed the technical information contained in this news release.

About Candorado

Candorado is one of British Columbia's largest mineral rights land holder with its copper/gold porphyry targets within the Quesnel Trough in Central British Columbia, the Serb Creek molybdenum deposit, the Eldorado property next to the BC Metal's Red Chris copper porphyry deposit and the Pitt Island VMS prospect all located in Northern British Columbia. 

ON BEHALF OF THE BOARD OF DIRECTORS of Candorado Operating Company Ltd.

For Further Information Please Contact:
Candorado Operating Company Ltd.

Rene Bernard    
Tel: (250) 979-2595   
Fax: (250) 860-2957   
www.candorado.com

Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Christine Stewart : cstewart@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.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.