Colorado Resources Ltd.

#110 - 2300 Carrington Road www.coloradoresources.com Tel: (250) 768-1511 West Kelowna, British Columbia Fax: (250) 768-0849 V4T 2N6 Canada Toll Free: 1 (855) 768-1511

News Release

COLORADO ANNOUNCES SECOND NEW PORPHYRY DISCOVERY AT KSP

October 8, 2015 TSX-V: CXO

COLORADO RESOURCES LTD. (TSX-V: CXO) ("Colorado" or the "Company") announces the

results of its 2015 summer exploration program from the Pins Area on the KSP Property (“the

Property”), located 12 km SW of Alta Gas’ road accessible McClymont Creek hydroelectric project.

Colorado acquired claims over the Pins Area by staking in November of 2013 significantly

expanding the size of the original claim groups held by SnipGold. The KSP Property under option

from SnipGold now totals over 33,593 hectares covering approximately 33 ½ square kilometres.

Adam Travis, President and C.E.O of Colorado states, “Since 2013 we recognized the exploration

potential of the larger district, and quadrupled the size of the original Property. Our theories were

confirmed by our 2014 fieldwork completed in conjunction with important work conducted by B.C

Geological Survey Geologists Joanne Nelson and Jeff Kyba. The recognition of regional thrust faults

spatially associated with large alteration systems favourable for mineral occurrences led us back to

many areas this year, including the Pins area. The NGU (Never Give Up) Porphyry discovery

demonstrates the calibre and persistence of our exploration team and the validity of our

exploration model. There’s lots of room within the > 5 kilometres of favourable strike at Pins to

expand the current 500 metre trend of copper and gold mineralized rocks found in our initial work

at NGU as highlighted by the regional geology, geochemistry and airborne magnetic data”

The 2015 field program at Pins consisted of the collection of 79 rock chip, channel and grab

samples, 10 soil samples, detailed geological mapping and prospecting; 17.5 km of ground

magnetometer surveying and compilation of historical data. Highlights of this work include:

NGU Porphyry Discovery hosted within a >5 km thrust panel and adjacent to the 2 x 3

km Pins Alteration System (see Figure 1) which has only been moderately explored to date

within a 500 m area with rock, chip and channel samples returning up to 2.44% copper and

1.13 g/t gold in grab samples and up to 0.93% copper and 0.28 g/t gold across one metre

in limited channel sampling to date. Just as importantly, the mineralization occurs within

quartz and magnetite, stockwork veined monzodiorites typical of porphyry systems in zones

that trend under gravel cover to the northwest and into tree covered slopes to the

southeast.

The recognition of a > 5 km Highly Prospective Trend in the Pins area associated with

the Sky Thrust Fault which is highlighted by anomalous copper and gold results in rock

samples of up to 3.6 % copper and 88.2 g/t gold located as much as 2 ½ kilometres away

from the NGU Porphyry Discovery.

Large portions of the Pins alteration system and surrounding areas on trend of the NGU

Porphyry remain both under explored or totally unexplored, providing exploration upside to

continue to expand upon known mineralization and make new discoveries.

Colorado Resources Ltd.

#110 - 2300 Carrington Road www.coloradoresources.com Tel: (250) 768-1511 West Kelowna, British Columbia Fax: (250) 768-0849 V4T 2N6 Canada Toll Free: 1 (855) 768-1511

The rock samples reported by Colorado in 2015 were analyzed by Activation Laboratories Ltd. of

Kamloops, B.C for 68 elements using an Aqua Regia digest with an ICP-MS finish (Code UT-1) and

for gold by fire assay fusion with an AA finish ( Code 1A2).

For more information on the KSP Project the reader is directed to the company’s website at

www.coloradoresources.com.

Qualified Person

Greg Dawson, P.Geo is the Qualified Person as defined by National Instrument 43-101 who

supervised the preparation of the technical data discussed in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS OF

COLORADO RESOURCES LTD.

“Adam Travis”

Adam Travis

President and Chief Executive Officer

For more information, please contact:

Colorado Resources Ltd.

Adam Travis, President and Chief Executive Officer or

Terese Gieselman, Chief Financial Officer

T: (250) 768-1511

F: (250) 768-0849

TF (855) 768-1511

W: www.coloradoresources.com

NR 15-06 Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this news release, constitute "forward-looking information" as such term is used in

applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of

management at the date the information is provided and is subject to certain factors and assumptions, including: that the

Company's financial condition and development plans do not change as a result of unforeseen events, that the Company

obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project

communities.. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could

cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.

Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are

not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays,

or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory

approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the

possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties

applicable to mineral exploration and development activities and to the Company as set forth in the Company's

Management’s Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no

assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ

materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on

forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or

statements, other than as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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!(Ç1.9% Cu

3.6% Cu

0.65% Cu

1.06% Cu0.69% Cu

0.64% Cu0.68% Cu

1.18% Cu0.66% Cu

1.22% Cu

2.44% Cu1.13% Cu 0.58% Cu

0.51%

0.61% Cu0.97% Cu

0.99% Cu

1.43% Cu1.94% Cu

0.52% Cu

3.45% Cu

0.98% Cu

0.93% Cu0.76% Cu

0.7g/t Au

2.8g/t Au

0.7g/t

20.3g/t Au4.85g/t Au

76.5g/t Au

0.63g/t Au

0.52g/t Au

0.64g/t Au

88.2g/t Au49.3g/t Au

2.15g/t Au

1.13g/t Au

10.7g/t Au

45.5g/t Au

0.53g/t Au

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KSP: Pins TargetNews Release: 15-06

¯

ÇPins

KSP

Triassic Volcanics

Early Jurassic Lehto Pluton(Mitchell Suite)

Pins Ridge Cu-Au ZonePins Bowl Cu-Au Zone

Contours (500ft)2007 Aibrone Mag AnomaliesQSP Alteration ZonesGlacial IceVolcanicsGranodioriteMonzodioriteQuartz Monzonite

#* CXO Gold Rock Sample >0.25g/t#* CXO Copper Rock Sample >0.25%#* CXO Molybdenum Rock Sample >100ppm!( Gold Soil Sample >50ppb!( Copper Soil Sample >500ppm( Copper (>500ppm) & Molybdenum (>50ppm) Soil Sample 0 500250

Meters

2007 Airborune Survey Extent

2007 Airborune Survey Extent

No Sampling - No Mapping

Area Unexplored

East Pins Cu-Au Zone

Monzodiorite

Sky Thrust Fault

Sky Thrust Fault

Normal Fault

Normal Fault

Modified Geology after J.Kyba, J. Nelson (2014) & J.Oliver (2015)

Lower Pins Mo-Cu Zone

West Pins Cu-Au Zone(1.3km West of NGU)

(2.5km Southeast of NGU)

0.5 CXO Gold Rock Sample >0.5g/t0.5 CXO Copper Rock Sample >0.5%

Channel: CHPins-1Copper Staining at NGU

New NGU Porphyry Discovery