CXO Advise That Gold Fields Selwyn Exploration Corporation Has Completed 2013 Exploration

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") wishes to advise that Gold Fields Selwyn Exploration Corporation ("Gold Fields") has completed its 2013 exploration program which included 13 drill holes totalling 2,614 m on its Oro Property, Yukon, Canada.

Gold Fields noted that although high grade results were not recognized there were sufficient widespread anomalous gold areas to warrant further work. While the results of the 2013 programme were promising, Gold Fields' current exploration mandate is to focus more on near-term development opportunities; it has subsequently provided notice that it will not proceed under the terms of its Option Agreement with the Company.