Fjordland and Cariboo Rose Add Ground to WOODJAM Copper,
Gold, Molybdenum Project, Central British Columbia
Vancouver, B.C., February 26,
2008 � Fjordland Exploration Inc. (TSX-V: FEX) and Cariboo Rose
Resources Ltd. (TSX-V: CRB), the Woodjam Joint Venture (60% FEX, 40%
CRB) partners, are pleased to announce two property acquisitions adjoining their
Woodjam property in the Cariboo region. In both cases, the acquisitions were
completed to cover prospective ground along a postulated SW-NE trend of
mineralization, adjacent to the west/southwest boundaries with the Megabuck and
Takom zones respectively, where significant amounts of "porphyry-style" copper
and gold mineralization have previously been outlined.
For a 100% clear title and ownership in the Big -
Moose Horn mineral property, Fjordland and Cariboo Rose will pay to John Bot,
President of Botco Mining and Exploration, the cash sum payment of $2,500 and
issue 30,000 shares of Fjordland Exploration Inc. and 20,000 shares of Cariboo
Rose Resources Ltd. on the Effective Date, subject to acceptance of the TSX
Venture Exchange.
For the right and option to acquire a 100%
interest in the Magalloy 1-14 and Magex 1-12 mineral property, Fjordland and
Cariboo Rose will pay to Herb Wahl and Jack Brown-John, as to 50% each as
beneficial owners of the property, the cash sum payment of $25,000, plus issue
20,000 shares of Cariboo Rose Resources Ltd. and 30,000 shares of Fjordland
Exploration Inc. on the Effective Date of the option agreement. On or before the
first, second and third anniversaries of the Effective Date, the Joint Venture
must make annual cash payments of $25,000, plus issue annually 20,000 shares of
Cariboo Rose and 30,000 shares of Fjordland. On or before the fourth anniversary
of the Effective Date, the Joint Venture must make a cash payment of $100,000,
plus issue 40,000 shares of Cariboo Rose and 60,000 shares of Fjordland. The
respective contributions to the cash payments required to be made shall be on a
Sixty/Forty basis (60% Fjordland/40% Cariboo Rose). This transaction is subject
to acceptance of the TSX Venture Exchange.
The Joint Venture partners plan on conducting
exploration on these two new acquisitions during 2008, as part of their
aggressive exploration program on the Woodjam project.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral
exploration company focused on the discovery of gold, copper and molybdenum
deposits in British Columbia and the Yukon. Fjordland has a 60% interest in the
42,000-hectare Woodjam copper-gold-molybdenum property in south-central British
Columbia and is operator of the project; Cariboo Rose Resources Ltd holds the
remaining 40% interest. Fjordland also has a 50%-50% joint venture with
Serengeti Resources Inc. (TSX-V: SIR) on the QUEST project to explore over 47,000
square kilometres in the heart of British Columbia�s Quesnel Terrane for
precious and base metals. Shares of Fjordland Exploration Inc. trade on the TSX
Venture Exchange under the symbol "FEX". For further information visit the
Company�s website at www.fjordlandex.com.