Fjordland Exploration Inc. (CVE:FEX) and Cariboo Rose Resources Ltd. (CVE:CRB) report that they have entered into a LOI to combine their respective interests in the Woodjam North and South copper-gold-molybdenum mineral properties, Williams Lake, British Columbia, Canada.

Fjordland Exploration Inc. (TSXV:FEX) and Cariboo Rose Resources Ltd. (TSXV:CRB) report that they have entered into a LOI to combine their respective interests in the Woodjam North and South copper-gold-molybdenum mineral properties, Williams Lake, British Columbia, Canada.

The press release is quoted as saying:

The purpose of the spin-off transaction is to preserve the interests of Fjordland and Cariboo Rose shareholders in the Woodjam properties by transferring them to a stand-alone corporate entity focused on the exploration and development of the Properties. This transaction will also facilitate the advancement and recognition of the other mineral exploration projects held by Fjordland and Cariboo Rose.

Fjordland’s President and CEO, Tom Schroeter says:

“Combining Fjordland’s and Cariboo Rose’s Woodjam interests into a single company optimizes the projects’ development and retains shareholder value in the Properties.” “Also, this allows Fjordland to focus on its other exciting B.C. projects, especially our 100% owned Iron Range properties, and the Kimberley Gold Trend properties where we plan to drill this summer.”

Click here to access the entire news release.