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CALDERA RESOURCES INC.
Canada Australia
481 University 1 Charles Street
Suite 301 Suite 8
Toronto, Ontario, M5G 2E9 South Perth, Western Australia
Telephone: 416-260-9810 ext. 2 Telephone: 011-6189-367-7728
Facsimile: 416-260-9681 Facsimile: 011-6189-367-7705
Website: www.stockgroup.com/cdr.html
____________________________________________________________________________
_________________
PRESS RELEASE
ME Symbol: "CDR" FOR IMMEDIATE RELEASE
Cusip: 12878D 105 October 27, 1998
South Perth, Western Australia
Caldera Resources Inc. is pleased to announce the appointment of Professor
Peter Nixon as Special Advisor to the Board of Directors. Professor Nixon
is Emeritus Professor at the School of Earth Sciences, University of Leeds,
United Kingdom. He is a recognized world authority on the occurrence of
diamonds and diamond exploration and the petrology and mineralogy of
kimberlites and related rocks. He is the author of over 100 scientific
papers and two books on kimberlites or related matters.
In addition to his distinguished academic career, Professor Nixon has
considerable practical field experience with kimberlite and diamond
exploration on all continents. His experience includes involvement in
diamond exploration in Australia, South Africa, Botswana, Nigeria, Morocco,
Namibia, Tanzania, Uganda, Mali, Lesotho, Brazil, Venezuela, Spain, Siberia
and Canada. Professor Nixon has had close involvement in the exploration of
the Forte a la Corne kimberlite field in Saskatchewan. He has recently
co-authored several important papers on the geology of this unusual
kimberlite / diamond occurrence.
Caldera recently engaged Professor Nixon in a consulting capacity to assess
exploration data and provide recommendations for future exploration
strategies. This appointment will ensure Professor Nixon's ongoing
involvement in the Company's exploration projects where he will liaise
directly with the executive board members concerning aspects of exploration
policy, planning and implementation of exploration programs and interpreting
exploration results.
Caldera is privileged to have a person of Professor Nixon's stature accept
this board level appointment to join the executive management team. We are
confident that his expertise and experience will make a significant
contribution to the success of the Company's exploration programs.
Caldera is engaged in diamond exploration in the Abminga region of northern
South Australia and is the major tenement holder in the region.
For further information please contact:
Chris Reindler, President
Telephone: 011-6189-367-7728 Facsimile: 011-6189-367-7705
John Daniels, Chairman
Telephone: 011-6189-364-4645 Facsimile: 011-6189-367-7705
Jason Shepherd, Investor Relations
Telephone: 250-717-1910 Facsimile: 250-717-1909 / E-Mail Address:
jman@direct.ca
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS
APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
Jason Shepherd
President & C.E.O.,
CCC Creative Capital Corp.
CALDERA RESOURCES INC.
CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 1998
With comparative figures as at 30 September 1997
All figures are stated in Australian dollars
30 Sept 1998
$
30 Sept 1997
$
Current Assets
Cash
Receivables
1,022,253
27,336
________
1,049,589 2,239,064
27,310
________
2,266,374
Capital assets
Deferred capital raising costs
Mineral exploration tenements, at cost
Investment
30,353
2,153,820
19,988
________ 55,912
630,752
1,530,221
29,287
________
3,253,750 4,512,546
Current Liabilities
Accounts payable
Due to shareholders
Due to a minority shareholder
24,258
21,475
91,498
________
137,231
28,418
18,430
76,080
________
122,928
Shareholders= equity
Authorized
Unlimited number of common shares
Issued
19,024,121 common shares
Deficit
5,709,293
(2,592,774)
________
5,709,293
(1,319,675)
________
3,253,750 4,512,546
CALDERA RESOURCES INC.
CONSOLIDATED STATEMENT OF
OPERATIONS AND DEFICIT
FOR THE 9 MONTHS ENDED 30 SEPTEMBER 1998
With comparative figures for the 9 month period
to 30 September 1997
All figures are stated in Australian dollars
30 Sept 1998
$
30 Sept 1997
$
Revenue
Interest
38,053
___________
38,060
___________
Expenses
Administration
Exploration expenditure written off
Depreciation
Loss on sale of investment
Foreign exchange loss/(gain)
Professional fees
258,616
1,307
5,077
(14,064)
137,010
___________
387,946 285,302
830
(189,531)
203,533
___________
300,134
___________
___________
Net loss for the period
349,893
262,074
Deficit, beginning of period 2,242,881
___________
1,057,601
___________
Deficit, end of period 2,592,774 1,319,675
CALDERA RESOURCES INC.
QUARTERLY REPORT
for period ending September 30, 1998
October 14, 1998
South Perth, Western Australia
Australia
Suite 8, 1 Charles Street
South Perth, Western Australia
6151
Tel: 011-618-93682800 Tel: 011-618-93677728
Fax: 011-618-93682661 Fax: 011-618-93677705
Canada
481 University Avenue
Suite 301
Toronto, Ontario
M5G 2E9
Tel: 416-260-9810 Fax: 416-260-9681
Tel: 250-717-1910 Fax: 250-717-1909
ME Symbol: ACDR@
Cusip: 12878D 105
QUARTERLY REPORT
ABMINGA DIAMOND PROJECT
During the quarter, Astro Mining N.L. completed their due diligence investigations on the Abminga Diamond Project. The due diligence process included the following work:
Assembly and review of all available data from Caldera and other available sources;
Processing of approximately 1.6 tonnes of reverse circulation drill cuttings supplied by Caldera through Astro=s diamond laboratory for microdiamonds and diamond indicator minerals;
Reprocessing of all available aeromagnetic data to define targets for drill testing;
Drilling of three diamond drill core holes to test for the occurrence of kimberlitic volcanics; and
Petrological and mineralogical investigations of the core material.
Three HQ3 diamond hill holes were cored to test magnetic targets (Anomalies 64, 77 and 167 on Exploration Licences E1890 and E1936). None of these targets had been previously tested by Caldera. A total of 501.2 metres were drilled and seven samples were processed through Astro=s laboratory for microdiamonds and diamond indicator minerals.
101 samples totaling over 2000 kg, comprising reverse circulation drill cuttings and diamond drill core were processed by Astro. No microdiamonds or diamond indicator minerals were reported. The reverse circulation drill cuttings processed by Astro comprised the same material from which Caldera had previously recovered abundant kimberlite indicators and two microdiamonds.
Astro did not report any volcaniclastic material in any of the diamond core holes. Their interpretation of the geology was that the rocks underlying the Cainozoic surficial cover represented the normal Mesozoic stratigraphy of the area. On the basis of this interpretation of the geology of the Abminga area, Astro declined to proceed further with the project and enter a joint venture with Caldera.
Caldera obtained all the core material and has been conducting its own independent investigations. These were carried out, in part, by Caldera=s own petrologists and mineralogists.
Caldera also engaged Professor Peter Nixon, Emeritus Professor of Geology at Leeds University in the United Kingdom, to provide specialized consulting services. Professor Nixon is a world authority on kimberlite geology and mineralogy. He has published extensively on kimberlite mineralogy and diamonds and has co-authored several papers on the Saskatchewan kimberlites. His experience with the Forte a la Come kimberlites was regarded as particularly relevant to assisting Caldera with the Abminga Diamond Project.
Professor Nixon spent two weeks in Perth during the month of September examining all of Caldera=s exploration data and conducting additional mineralogical and petrological investigations.
His report and recommendations for future work are expected at a later date.
CALDERA RESOURCES INC.
CONSOLIDATED STATEMENT OF CHANGES
IN FINANCIAL POSITION
FOR THE 9 MONTHS ENDED 30 SEPTEMBER 1998
With comparative figures for the 9 month period
to 30 September 1997
All figures are stated in Australian dollars
30 Sept 1998
$
30 Sept 1997
$
Operating Activities
Net loss for the period
Non cash items
Depreciation
(349,893)
5,077
___________ (262,074)
830
___________
Changes in non-cash working capital items
Cash used in operating activities
Financing Activities (344,816)
(68,503)
___________
(413,319) (261,244)
(34,886)
___________
(296,130)
Proceeds from issue of shares and special warrants
Capital raising costs
Cash from financing activities
___________
Nil
___________
3,469,698
(546,117)
___________
2,923,581
___________
Investing Activities
Acquisition of capital assets
Capitalized exploration expenditure incurred during the period
Portfolio investment
Loan from minority
Cash used in investing activities
(4,992)
(314,000)
(9,488)
1,270
___________
(327,210)
___________
(32,359)
(649,290)
(29,287)
8,567
___________
(701,369)
___________
Net cash inflow/(outflow)
Cash position, beginning of period
Cash position, end of period
(740,529)
1,762,782
___________
1,022,253
1,925,082
313,982
___________
2,239,064 |
