Fjordland Exploration and Cariboo Rose Resources report on the Woodjam joint venture whereby Gold Fields Horsefly Exploration Corporation, has been granted an option on the property.

The WJV and Gold Fields are planning a large exploration program, including a minimum of 4,000-m of diamond drilling in the Southeast Zone. This is the beginning of a comprehensive and aggressive exploration campaign which could entail spending a minimum of about C$35 million over a 7.5-year period in the combined Woodjam project (South and North properties). In addition, the comprehensive feasibility study to be completed by Gold Fields to earn a 70% interest at Woodjam South, would add significantly to property expenditures.

Fjordland's President, Tom Schroeter states:

"The partnership with one of the world's largest gold producers now allows for aggressive advancement of the entire Woodjam property, including the very exciting Southeast Zone copper-gold-molybdenum discovery, and pursuing new target development on other Woodjam anomalies. Including a feasibility study on the Woodjam South property is a significant component of this deal as the project will benefit from Gold Fields' exploration and development expertise in gold-rich porphyry deposits. The WJV is well positioned for future discoveries in this area."

For complete news release, click here. ^[1]