Colorado Closes Strategic Investment by Goldcorp to Fund Additional Exploration - Seite 2

Colorado has been advised that Goldcorp has acquired beneficial ownership of 16,960,000 Units at $0.26 per Unit for a total purchase price of $4,409,600. Accordingly, Goldcorp will be acquiring beneficial ownership of: (i) 16,690,000 Common Shares, representing approximately 14.0% of the issued and outstanding Common Shares; and (ii) 8,480,000 Warrants representing approximately 25.48% of the issued and outstanding warrants of the Company. Should Goldcorp exercise all of the Warrants, Goldcorp would hold 25,440,000 Common Shares representing approximately 19.61% of the issued and outstanding Common Shares (on a partially diluted basis). Prior to this acquisition Goldcorp did not own any securities of Colorado. Goldcorp is acquiring the beneficial interest in the securities for investment purposes. Goldcorp will evaluate its investment in Colorado from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require. The exemption relied on by the Company for the sale of the FT Units and the Units to Goldcorp was Section 2.3 of National Instrument 45-106 - Prospectus Exemptions. Goldcorp will be filing an early warning report in connection with the acquisition which will be filed on Colorado's SEDAR profile. Goldcorp's head office is located at Suite 3400 - 666 Burrard St. Vancouver, BC, V6C 2X8.

All securities issued in the Placements are subject to a statutory hold period ending January 1, 2018.

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 Nevada.

Colorado's main BC exploration projects include the 100% owned KSP property, the 100% owned Kingpin property and the 100% owned North ROK property. Additionally Colorado holds an option on the Green Springs Property (Nevada) from Ely Gold & Minerals Inc.

ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.

Adam Travis, President and Chief Executive Officer

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.