Caldera Resources Inc.: Barrick Joint Venture on Mt. Carulina Project-South Australia

Caldera Resources Inc. (TSX: CDR) is pleased to announce that a Farm In and Joint Venture Letter Of Intent has been reached with Barrick Gold of Australia Limited, the wholly owned Australian subsidiary of Barrick Gold Corporation (TSX: ABX), on the Mt Carulina Project in South Australia.

The Mt Carulina target is a large magnetic anomaly with an intense and coincident gravity anomaly that shows similar geophysical characteristics to the massive uranium/gold/copper Olympic Dam deposit.

Caldera and Ellendale Resources NL, which is listed on the ASX, own a 75% and 25% interest respectively of the Mt Carulina Project and Barrick may earn a 75% interest in the Exploration Licence under the following terms:-

1. Barrick must incur a minimum of A$400,000 on exploration expenditures within 12 months.

2. Barrick may earn a 75% interest in the tenement by sole funding A$4 million in exploration expenditures within 5 years. If Barrick withdraws at any time after meeting the minimum expenditure but before it earns 75%, it will not retain any interest in the tenement.

Upon Barrick earning its 75% interest, a joint venture will be formed with Caldera holding an 18.75% interest and Ellendale Resources NL holding a 6.25% interest. If Caldera dilutes its interest to less than 10%, then all of Caldera's equity in the tenements will be relinquished and it will hold a 1.5% net smelter royalty.

The Exploration Licence covers 97 square kilometres and lies within the structurally significant O'Driscoll G2 Corridor, which also hosts the Olympic Dam deposit.

The Mt Carulina Project was previously the subject of a joint venture in 2002, which resulted in one drill hole being completed to a depth of 621 metres, but did not identify the source of the gravity or magnetic anomalies.

Barrick completed a due diligence of all previous geophysical data and inspected the drill core from the 2002 drill hole and believe that the evidence of alteration is of sufficient interest to warrant a further exploration program.

The Barrick program will include a detailed 150 metre line spaced airborne magnetic survey, which has already been completed, along with a ground gravity survey to better delineate the gravity target for drill testing. Upon completion of the geophysical surveys, Barrick will complete a deep diamond drilling programme to fully test the target. This drill program is expected to commence mid-year subject to drill rig availability.

Dr. Greg Pooley, a member of the Aus. I.M.M. is the qualified person responsible for the technical information in this news release.

This Joint Venture agreement is subject to approval by the Toronto Stock Exchange.

Other Activities

Caldera is engaged in diamond exploration in Australia through eight projects. Three projects are located in the Pilbara region of northern Western Australia, one of which is joint ventured with Mr. Ronald Winston. The Company also has two projects located adjacent to the Ellendale Lamproite Field in the Kimberley region of Western Australia, one of which is also ventured with Resource and Investment NL, an associated company of Kimberley Diamond Company Limited.

Caldera also has two base metal/gold projects in South Australia. One of these projects is the Mt. Carulina Project, which is an Olympic Dam - style base metal/gold target.

CAUTIONARY STATEMENT

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Caldera, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Caldera's expectations are exploration risks detailed herein and from time to time in the filings made by Caldera with securities regulations.


Canada                                 Australia
------                                 ---------

Suite 3100                             1 Charles Street
40 King Street West                    Suite 8
Toronto. Ontario. M5H 3Y2              South Perth. Western Australia. 6151
Telephone:  416-865-6605               Telephone: 011-618-9367-7728
Facsimile:  416-865-6636               Facsimile: 011-618-9367-7705
Website:  www.calderares.com             E-mail:  calderares@bigpond.com

Cusip: 1287D 105

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contacts: Caldera Resources Inc. Chris Reindler President 61-8-9367-7728 61-8-9367-7705 (FAX) Caldera Resources Inc. Robert Levitt Investor Relations (514) 242-1852 Website: www.calderares.com