CANDORADO OPERATING CO V.CDO

Lithium and rare earth metals

[Rambo007]

Candorado samples 5.3 m of 1,757 ppm Rb at Landrienne

2010-07-08 14:41 ET - News Release

Mr. Kirk Reed reports

Candorado Operating Company Ltd. is providing an update.

Quebec lithium properties

Landrienne property

In the area of an east-to-west-trending topographic ridge, a north-to-south-trending pegmatite was channel sampled at four locations over a distance of approximately 55 metres. The accompanying table summarizes the lithium and rubidium results, from south to north.

Location width   Lithium and rubidium values5.3 m                      1,757 ppm RbIncluding              1.3 m 0.37% Li2O3 m            2,310 ppm Rb, 0.58% Li2O 4 m                        2,028 ppm RbIncluding 3 m                0.93% Li2O 2 m            2,580 ppm Rb, 0.32% Li2O 

Channel samples are rock samples cut with a diamond blade rock saw into the outcrop, making a channel about 15 centimetres wide. The rock is chiselled out, typically along one-metre intervals to give a representative grade across a zone.

Within the area of the pegmatite and between the above sample locations, grab samples of pegmatite returned the following values:

• 0.45 per cent Li2O and 3,220 parts per million Rb;
• 0.82 per cent Li2O and 5,070 parts per million Rb;
• 2.09 per cent Li2O and 1,730 parts per million Rb;
• 1.49 per cent Li2O and 4,720 parts per million Rb.

Rock sample preparation and analysis were carried out by Activation Laboratory Ltd.

An orientation soil survey indicates that the lithium-bearing pegmatite continues under overburden to the south. A review of historical reports indicates that the pegmatite has not been drilled.

Lac La Motte South property

Six grab samples from outcrop or angular float contain greater than 0.25 per cent Li2O, as follows, from west to east:

• 0.28 per cent Li2O;
• 2.41 per cent Li2O (float);
• 1.14 per cent Li2O, and greater than 1,000 parts per million beryllium (float);
• 0.30 per cent Li2O and 1,970 parts per million Rb;
• 0.43 per cent Li2O;
• 1.16 per cent Li2O;
• 1.70 per cent Li2O and 2,020 parts per million Rb.

La Corne Valor property

Two grab samples from outcrop contain greater than 0.25 per cent Li2O, as follows:

• 0.71 per cent Li2O, 3.3 per cent beryllium and 2,970 parts per million cesium;
• 0.34 per cent Li2O and 1,570 parts per million Rb.

Exploration on the lithium properties was conducted under the supervision of W. Gilmour, PGeo, of Discovery Consultants, a qualified person as defined by National Instrument 43-101.

Corporate

Candorado wishes to advise the appointment of Terese Gieselman as chief financial officer and secretary of the company.

For the past five years, Ms. Gieselman has held the position of the company's corporate compliance manager. Ms. Gieselman has 24 years of experience with junior mining and exploration companies in the roles of chief financial officer, treasurer and corporate secretary. During her tenure in the resource sector, Terese has accumulated an extensive background in corporate and financial reporting and compliance for Canada and the United States, including particularly relevant experience in financings, treasury, international corporate structures and financial reporting in Mexico, Peru, Chile, Argentina, Zimbabwe and Mozambique.

We seek Safe Harbor.