Colorado Intersects 25 feet of 9.75 g/t Gold at Green Springs

WEST KELOWNA, BC - Colorado Resources Ltd. has received the assay results from its initial phase of RC drilling at Green Springs and continues to expand, explore and advance the property.

Adam Travis, Colorado’s President and CEO states, “Our Green Springs Phase 1 Winter Drill Program was a success encountering  intercepts up to 135 feet of 3.23 g/t gold including 25 feet of 9.75 g/t gold in the E Zone, discovering new mineralization with 125 feet of 1.37 g/t gold occurring in Hole 8 in the A Zone and finding mineralization in the first ever drillholes (Holes 11& 12) completed in the G Zone including 20 feet of 1.12 g/t gold in Hole 12. Based on these results we have completed the staking of additional claims, expanded the collection of soil samples and will be permitting more drilling.”

E Zone - RC Drillholes GSC17-01 to GSC17-04 tested the nature of gold mineralization at the lower Chainman Shale – Joana Limestone contact south of the historic mine workings (“ E” Zone) and along the trend of a north-south striking mineralized structural corridor.  Results include Hole 1 which returned 135 feet of 3.23 g/t gold including 25 feet of 9.75 g/t gold. These results confirm our concept that high grade feeder structures may exist to the south of the old pits and that mineralization can extend into the underlying Joana limestone.

A Zone - RC Drillholes GSC17-05 to GSC 17-10 tested the nature of gold mineralization associated with the lower Pilot Shale – Guilmette Limestone contact in the “A” Zone. This contact is well exposed to the north and to the east of the mine workings and is associated with well developed, thick jasperoidal bodies which have been shown to be spatially related to gold mineralization in both historic1 RC boreholes and surface rock samples.  Results include Hole 8 which returned 125 feet of 1.37 g/t gold, Hole 6 which returned 80 feet of 1.75 g/t gold and Hole 5, which returned 130feet of 1.07 g/t gold. These results confirm our premise that rocks mapped as the underlying and un-mined Pilot Shale have the potential to host significant gold mineralized zones at relatively shallow depths.

G Zone - RC Drillholes GSC17-11 & GSC17-12 were collared in the newly discovered “G” Zone. The G Zone lies at the crest of a regional scale antiform, is associated with a distinctive gold in soil anomaly and has never been drill tested until now. Results include Hole 12 which returned 20 feet of 1.12 g/t gold.

The Colorado RC drill program was designed to be a very preliminary test of these permissive stratigraphic and structural contacts over a combined strike length of approximately 3.0 km and based on these results more drilling is warranted.

To follow up these initial results, Colorado has completed additional claim staking and soil sampling and will be permitting an expanded drill program.

The Green Springs Property is currently under option from Ely Gold & Minerals Inc. whereby Colorado can acquire a 100% interest in 193 unpatented claims (1,416.2 hectares) held or under option by ELY and is located in the eastern Great Basin and 35 miles west of Ely Nevada.