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News 2008

Canoe Reach Geophysical Survey Shows Potential Reservoirs

September 23, 2008

Dr. E. Max Baker reports


Christopher James Gold Corp., together with its wholly owned subsidiary, DeepRock Geothermal Inc., has completed a preliminary geophysical survey at the Canoe Reach geothermal project in British Columbia.

The Canoe Reach geothermal project is located approximately 32 kilometres southeast of the town of Valemount, B.C., along the banks of the Canoe River (between the Malton range of the Monashee Mountains and the Canoe range of the Rocky Mountains). Surface manifestations of the geothermal system, consisting of a series of high-temperature hot springs and mud pools, extend over a 1,500-metre strike length. The geothermal permit area is 550 hectares and the project is covered by permit No. 55274, consisting of seven PNG grid units. The hot springs are accessible via the local forestry service road, a journey of approximately 21.8 kilometres from Valemount, and can also be accessed via Kinbasket Lake. The project is approximately seven km away from a substation on the B.C. Hydro power grid.

The company contracted Quantec Geoscience Ltd. to conduct a Titan-24 magnetotelluric (MT) resistivity survey, which was completed in August, 2008. The purpose of this geophysics survey is to determine the likely extent and depth of the geothermal reservoir. The final report is pending; however, a preliminary assessment of the data shows a series of resistivity lows under the hot spring zones which are interpreted as potential reservoirs. The data will aid significantly in delineating the boundaries of the geothermal reservoir and for planning follow-up exploration work expected to take place in late 2008.

Company president and chief executive officer, Dr. E. Max Baker, commented: "The preliminary results from the Titan 24 MT survey conducted over the Canoe Reach geothermal project are encouraging, and the company will be conducting several additional lines of Titan 24 in October, to better define the extent of the resistivity lows already identified. In addition, several shallow thermal-gradient drill holes (three to four DDH) and down-hole geophysical soundings are planned for late 2008, subject to regulatory approvals."

The company can acquire up to a 90-per-cent interest in the Canoe Reach geothermal project by making a final payment of $1-million by Dec. 15, 2008. Candorado will retain a 10-per-cent free-carried interest, which can be bought out by the company at any time over the next five years for $2.5-million.

This news release was prepared by Dr. Baker. The PGeo for the project is Timothy L. Sadlier-Brown, a geothermal consultant based in Vancouver.

 2008 Canjex Publishing Ltd.