RE: NewsEXPLORATION
Eldorado Property
The Company is currently pursuing joint venture opportunities on its Eldorado property and during the period carried
out a minimum amount of exploration of $3,216 and paid $7,691 in cash in lieu to maintain the property
Man-Prime Property
A thorough review and interpretation of the induced polarization and resistivity geophysical survey, completed in
2007, was undertaken by Fritz Geophysics of Boulder, Colorado. The interpretation has allowed a much better
understanding of the structures and mineralized zones at the Man-Prime Property which will assist in identifying drill
targets and in determining orientation of drill holes. A preliminary 4-hole drill program was commenced in June.
Drilling tested geophysical anomalies, copper-gold soil anomalies and an area of copper mineralization exposed in a
trench at the Prime Zone. During the period $215,193 was expended on the Man-Prime and primarily included
drilling, fieldwork and geological consulting.
Murphy Lake Property
CANDORADO OPERATING COMPANY LTD.
MANAGEMENT DISCUSSION AND ANALYSIS
NINE MONTHS ENDED SEPTEMBER 30, 2010
At Murphy Lake the Company completed the installation of 58 km of cut lines in preparation for a
reconnaissance induced polarization and resistivity geophysical survey, which started in June. A report by
Peter E. Walcott & Associates states that the survey found a large zone of complex IP response
(anomalous chargeability readings) trending across the grid. In addition, magnetic anomalies appear to
be related to the IP anomalies. Further IP and magnetic survey work is necessary to properly delineate
the anomaly or anomalies, in advance of drilling. The exploration targets are similar to alkali copper-gold
porphyry Takom, Megabuck and Deerhorn Zones on the adjacent Gold Field Woodjam property to the
north, which are well delineated by IP and magnetic surveys. During the period the Company expended
$269,101 in carrying out the exploration work program.
This property includes the Timothy Lake, Summer Lake, Bluff Lake, Mac and Spout, and the Tillicum Lake properties.