COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) announces that it has changed its auditors from BDO Canada LLP (the “Former Auditors”) to Smythe Ratcliff LLP, (the “Successor Auditors”) effective April 23, 2015.
At the request of the Company, the Former Auditors resigned as auditors for the Company effective April 23, 2015 and the board of directors of the Company appointed the Successor Auditor as the Company’s auditor effective April 23, 2015, until the close of the next Annual General Meeting of the Company.
There were no reservations in the Former Auditor’s reports for the two most recently-completed fiscal years or for any period subsequent to the more recently completed period for which an audit report was issued and preceding the date of the Former Auditors’ resignation. There are no reportable events between the Company and the Former Auditors.
The Notice of Change of Auditor, together with the letter form the Former Auditor and the letter form the Successor Auditor have been reviewed by the Company’s audit committee and board of directors and will be filed on SEDAR accordingly.
Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and is also seeking opportunities in Southwest USA and Latin America.
Colorado’s current exploration focus is to continue to advance its North ROK property, located 15 km’s northwest of the Red Chris mine development, and its KSP property optioned from SnipGold, located 15 km’s along strike to the southeast of the past producing Snip Mine, both located in northern central British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
COLORADO RESOURCES LTD.
President and Chief Executive Officer
For more information, please contact:
Colorado Resources Ltd.
Adam Travis, President and Chief Executive Officer or
Terese Gieselman, Chief Financial Officer
T: (250) 768-1511
F: (250) 768-0849
TF (855) 768-1511
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, specifically the resource estimate and any future exploration work at the North ROK project, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the mineralization at North ROK conforms with the geological model as described in the Report, that the Company continues to maintain a good relationship with the local North ROK project communities, and that future metal prices reflect or exceed those used in the resource estimate as a result of future demand for metals. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.