Caldera to Raise $ 2 Million for Drill Program in Armenia

TSXV Trading Symbol: CDR

MONTREAL, Oct. 4 /CNW Telbec/ - Caldera Resources Inc. (the "Company" or "Caldera Resources", TSX.V: CDR) is pleased to announce that it is proceeding with a non-brokered private placement financing to raise gross proceeds of $2,000,000 (the "Private Placement").

The proceeds will be used for a drilling program on the Marjan Gold and Silver Project, located in Armenia and for general working capital.

Insiders and two institutional investors have submitted subscription forms totaling $1,450,000. Additional subscriptions have also been received, with total commitments of up to $2,000,000 of subscriptions. The closing is scheduled for Friday, October 8, 2010.

The private placement is priced at $0.10 per share, for total issuance of up to 20,000,000 common shares. No share purchase warrants will be issued in conjunction with this private placement.

The Company may pay finder's fees to arm's length parties ("Finders") in connection with the Private Placement, equal to 6% of the subscription proceeds realized from the sale of the Shares by the respective Finders and 7% in the form of broker warrants. Each broker warrant entitles the holder to purchase one additional common share for a period of twelve months at an exercise of $0.10 per share.

The securities issued will be subject to a hold period of four months and one day.

About Caldera Resources Inc.

Caldera Resources is engaged in advancing its gold projects in the Republic of Armenia. Caldera holds a 55% interest in the Marjan Gold-Silver project with a clear path to acquire 100% of the project.

You can learn more about the Company's projects by watching recent interviews on our website www.calderaresources.com.

Recent Exploration Results

On August 17, 2010 Caldera Resources announced results of its initial trenching program. Of note, Trench 2 returned a grade of 17.20 g/t Gold and 344.0 g/t Silver over 3.2 meters. Including a 0.8 meter interval grading 51.3 g/t gold and 627 g/t of silver. These values contribute to the validity of the Soviet-era geological model of the Marjan project. Please see our release of August 17, 2010 for complete information.

Additional samples have been received from Armenia and it is expected that results will be published over the next month.

Qualified Person

Mr. Jim Steel, MBA, P.Geo., Vice-President, Mining and Development for the Company, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of NI 43-101.

Historical Soviet-era Resources at the Marjan Gold and Silver Project

The Central Zone of the Marjan Project was extensively explored between 1964 and 1989, and has Soviet-era GKZ standard resources as outlined below:

    
    Historical Resources
    Marjan Central
    Zone only             tonnes      Gold      Silver   Gold oz   Silver oz
    -------------------  ---------  --------  ---------  -------  ----------
    C1 and C2 resources  4,772,757  2.64 g/t  92.67 g/t  405,147  14,211,588
    P1 resources         3,211,843  2.35 g/t  93.42 g/t  242,696   9,647,922
    

The Northern Zone was explored between 1991 and 1992 by the Sissian Geological Exploration Group, and published by the State Committee for Reserves of Armenia, Yerevan, has historical Soviet-era GKZ standard resource, as follows:

    
    Historical Resources
    Marjan Central
    Zone only             tonnes     Gold      Silver    Gold oz  Silver oz
    -------------------  --------  --------  ----------  -------  ----------
    P1 resources           5.77M   2.18 g/t  148.46 g/t  404,456  27,543,865
    

The total C1 and C2 historical resources of the Marjan project outlined above are equal to 405,147 oz of Gold and 14.2M oz of Silver. The total P1 historical resources of the Marjan project are equal to 647,152 oz of Gold and 37.1M oz of Silver.

Mr. Ricardo Valls, P.Geo., independent geologist for Caldera reviewed the Marjan Gold-Silver Project. The NI 43-101 Technical Report on the project was filed on SEDAR on June 17, 2010 and can also be viewed on our website at www.calderaresources.com.

Cautionary Statement

The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

The Private Placement will be subject to approval by the TSX Venture Exchange.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00004575E

For further information: Bill Mavridis, President and CEO, Caldera Resources Inc., Direct Line: 514-813-9200, e-mail: [email protected]