Fjordland Exploration Inc.: Gold Fields Completes Due Diligence on Woodjam South Property, BC

Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB), 60%-40% partners in the Woodjam Joint Venture, have announced that Gold Fields Limited’s (NYSE: GFI) exploration company, Gold Fields Horsefly Exploration Corporation, has completed its due diligence review on the WJV’s Woodjam South copper-gold-molybdenum property.

The press release is quoted as saying:

This is in line with a May 20, 2010 agreement, and Gold Fields can now earn a 70% stake in Woodjam South by spending US$15 million and completing a comprehensive feasibility study over a 7.5-year period. The WJV now has two separate agreements with Gold Fields for the North and South areas of the Woodjam Property. Located in south-central British Columbia, 45 km east of the city of Williams Lake, the 13,827-hectare Woodjam South Property contains the Southeast Zone copper-gold-molybdenum mineralization discovered by the WJV in 2007.

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