Mr. Kirk Reed reports
OPERATIONAL UPDATE
Candorado Operating Company Ltd. has received an option agreementinstalment for the Summer property in the Murphy Lake area fromGreenwood Gold Resources Inc. The terms of the deal are as follows:Greenwood Gold Resources is required to complete a $350,000 explorationprogram and pay $150,000 cash to Candorado in order to earn the40-per-cent interest within six months of the option date. In total,6,144,975 common shares subject to a six-month hold period have beenissued to Candorado under the terms of the agreement.
Historic exploration on the Summer property has focused oncopper-gold-alkalic-porphyry mineralization. Drilling at the edge of thechargeability anomaly intersected 21 metres of 0.184 per cent Cu whichgives potential that the rocks host porphyry copper mineralization.
The Summer property is part of the Quesnel trough that extends fromsouth to north in British Colombia. The belt is the location of alreadyoperating copper-gold mines and also mines in development. Productionin the Quesnel trough totals historically 4.7 million ounces of gold and3.5 billion pounds of copper.