Colorado Announces New Tami Zone Porphyry Discovery at KSP

WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2015) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces the results from the Tami Zone as part of its 2015 summer exploration program on the KSP Property located 12 km SW of Alta Gas' road accessible McClymont Creek hydroelectric project. Colorado acquired the Tami Zone claims from Teck Resources in a transaction announced in a January 19, 2015 News Release, which form part of the KSP Property under option with SnipGold Corp.

Adam Travis, President and C.E.O of Colorado, states, "The recognition by Colorado of the Tami Zone as a significant copper gold porphyry target associated with the newly recognized Sky Fault thrust system and the 3 km x 8 km Sericite Ridge alteration system supports our postulation that the KSP Property may potentially host several large scale porphyry targets in a geological setting similar to the KSM Camp* located 30 kilometres to the SE. Tami is a compelling copper gold porphyry target that warrants a large scale drill program."

The 2015 field program at Tami consisted of the collection of 109 rock chip, channel and grab samples, detailed geological mapping and prospecting; 12.5 km of ground magnetometer surveying and compilation of historical data (see Figure 1). This work indicates the following:

• Channel and Chip Samples - Colorado's rock saw channel and chip samples have returned anomalous values over 700 metres of strike from the main Tami showing, further highlighting the exploration potential (see table below):

Tami Zone: Channel Sampling
Zone	Channel ID	Interval (m)	Au (g/t)	Cu (%)
Tami	CH14-006A	8.0	1.80	0.32
Tami	CH14-006B	15.0	2.94	0.51
78 m East of Tami	CHTami-10	28.8	1.17	0.15
690 m East of Tami	ChipTami-11A	45.0	0.45

• Historical Drilling - Although historical drillholes completed in 1987 did not test the main showing, results included SR87-07 which returned 208.2 m of 0.323 g/t gold from 1.8-210 m including 21.9 m of 1.99 g/t gold from 1.8-23.7 m indicating potential for bulk tonnage gold.