CANDORADO OPERATING CO V.CDO

This Just In

[blackgold99]

News Release


Candorado Operating Company Ltd. (CDO)Announces Letter of Agreementwith GWR Resources Inc. (GWR)

Kelowna, British Columbia - September 28,2011

CandoradoOperating Company Ltd. (“Candorado” or the “Company”) (TSX VENTURE: “CDO”FRANKFURT/BERLIN: “HQU”) and GWR ResourcesInc. (“GWR” or the “Company”) (TSX Venture: GWQ) arepleased to announce that theyhave entered into a letter agreement datedSeptember 21, 2011 to acquire the Vendor’s 100% interest in 89 unpatentedmineral claims located east of Williams Lake, British Columbia (the “Claims”), subject to a 2% net smelterroyalty to be retained by the Vendor (the “NSR”).The Company will have the right topurchase the NSR for $2,500,000.Pursuantto the Letter Agreement, the Company will acquire a 100% undivided interest inthe Claims (the “Acquisition”) fromthe Vendor for cash consideration of $870,000 ($170,000 of which has beenadvanced as a refundable deposit) (the “CashConsideration”), the issuance of an aggregate of 2,400,000 common shares ofthe Company (the “Consideration Shares”),the issuance of 2,000,000 warrants (the “ConsiderationWarrants”), with each Consideration Warrant exercisable to purchase oneadditional common share at an exercise price of
.40 per share for a period of2 years from the closing of the Acquisition.

The Claims form part of the Vendor’s Murphy Property,located north and west of GWR’s Lac La Hache property, in the Cariboo region ofBritish Columbia, 50 km north of 100 Mile House.The Claims are located in the Quesnel Trough,a geologic belt in British Columbia hosting many copper-gold alkalic porphyrydeposits.

Mr. RobShives, a director of the Company, is also a director of the Vendor and, assuch, the Acquisition is considered to be a related party transaction withinthe meaning of Multilateral Instrument 61-101 – Protection of MinoritySecurity Holders in Special Transactions (“MI61-101”).

Completionof the Acquisition is subject to obtaining the approval of the TSX Venture Exchange(the “Exchange”), obtaining anyother approvals required under applicable legislation, including MI61-101, andthe Company and the Vendor entering into a definitive agreement on or beforeOctober 17, 2011, or such other date as the parties may agree.

For further information, please contact:
Responsible officer: Kirk Reed,CEO
Company Telephone Number: 250 768 7767
The TSX VentureExchange Inc. has in no way passed upon the merits of the proposed transactionand has neither approved nor disapproved the contents of this press release.


About Candorado

Candorado is a B.C.based mineral exploration company with extensive mineral tenures in central,northern and southern British Columbia, and lithium properties in Quebec.

ON BEHALF OF THE BOARD OF DIRECTORS
OFCANDORADO OPERATING COMPANY LTD.

Kirk Reed, President and CEO

For Further Information Please Contact:
Candorado Operating Company Ltd.
Tel:[phone]
Fax:[phone]
www.candorado.com

Caution Regarding Forward-Looking Statements – This news releasecontains certain forward-looking statements, including statements regarding thebusiness and anticipated financial performance of the Company.These statements are subject to a number ofrisks and uncertainties.Actual resultsmay differ materially from results contemplated by the forward-lookingstatements.Factors that could causeactual results to differ materially from those in the forward-lookingstatements include unsuccessful exploration results, changes in metal prices,changes in the availability of funding for mineral exploration and development,unanticipated changes in key management personnel and general economicconditions.When relying onforward-looking statements to make decisions, investors and others shouldcarefully consider the foregoing factors and other uncertainties and should notplace undue reliance on such forward-looking statements.The Company does not undertake to update anyforward-looking statements, oral or written, made by itself or on its behalf.
Neither the TSX VentureExchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.