Colorado Announces Second New Porphyry Discovery at KSP

WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2015) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces the results of its 2015 summer exploration program from the Pins Area on the KSP Property ("the Property"), located 12 km SW of Alta Gas' road accessible McClymont Creek hydroelectric project. Colorado acquired claims over the Pins Area by staking in November of 2013 significantly expanding the size of the original claim groups held by SnipGold. The KSP Property under option from SnipGold now totals over 33,593 hectares covering approximately 33 1/2 square kilometres.

Adam Travis, President and C.E.O of Colorado states, "Since 2013 we recognized the exploration potential of the larger district, and quadrupled the size of the original Property. Our theories were confirmed by our 2014 fieldwork completed in conjunction with important work conducted by B.C Geological Survey Geologists Joanne Nelson and Jeff Kyba. The recognition of regional thrust faults spatially associated with large alteration systems favourable for mineral occurrences led us back to many areas this year, including the Pins area. The NGU (Never Give Up) Porphyry discovery demonstrates the calibre and persistence of our exploration team and the validity of our exploration model. There's lots of room within the > 5 kilometres of favourable strike at Pins to expand the current 500 metre trend of copper and gold mineralized rocks found in our initial work at NGU as highlighted by the regional geology, geochemistry and airborne magnetic data"

The 2015 field program at Pins consisted of the collection of 79 rock chip, channel and grab samples, 10 soil samples, detailed geological mapping and prospecting; 17.5 km of ground magnetometer surveying and compilation of historical data. Highlights of this work include:

• NGU Porphyry Discovery hosted within a >5 km thrust panel and adjacent to the 2 x 3 km Pins Alteration System (see Figure 1 - http://media3.marketwire.com/docs/1028036a.pdf) which has only been moderately explored to date within a 500 m area with rock, chip and channel samples returning up to 2.44% copper and 1.13 g/t gold in grab samples and up to 0.93% copper and 0.28 g/t gold across one metre in limited channel sampling to date. Just as importantly, the mineralization occurs within quartz and magnetite, stockwork veined monzodiorites typical of porphyry systems in zones that trend under gravel cover to the northwest and into tree covered slopes to the southeast.