• TSX.V: CXO

News Releases

COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) is pleased to announce the appointment of Alex Blanchard as VP of Corporate Development effective November 21, 2016.

Mr Blanchard entered the brokerage business in 1996 and enjoyed a 20 year career as an investment advisor with a focus on resource equities and public venture capital.  Over the course of his career, he was involved in advising and financing numerous public and private companies and developed a large network of retail and institutional clients in Canada, Europe and the United States. Alex holds a Bachelor of Arts degree which he received from UBC in 1992.

The Company further announces effective today, it has granted 200,000 options to Mr. Blanchard (the “Options”).  The Options are exercisable for a period of five years at a price of $0.22 per common share in accordance with the terms of the Company’s 10% rolling Stock Option Plan approved by shareholders on November 3, 2016.

About Colorado

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: the KSP property currently under option with Seabridge Gold Inc., located 15 km’s along strike to the southeast of the past producing Snip Mine*; its 100% owned Kingpin property; its 100% owned North ROK property, located 15 km’s northwest of the Red Chris* mine development, both located in northern central British Columbia.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF

COLORADO RESOURCES LTD.

 

“Adam Travis”

 

Adam Travis

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

W: www.coloradoresources.com

NR 16-17

 

Cautionary Note

*This news release contains information about adjacent properties on which Colorado has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

 

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, 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 Company continues to maintain a good relationship with the local project communities. 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.

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