Colorado Earns Initial 51% in KSP and Allocates $4M to Expand Inel Zone and Achieve 80% Ownership

Colorado Resources Ltd.

WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces it has made the final cash payment of $150,000 and completed the initial exploration expenditures of $6,000,000 at KSP; more than 6 months ahead of schedule. This will satisfy its agreement with SnipGold Corp. (a wholly owned subsidiary of Seabridge Gold Inc.) to earn its initial 51% interest in the KSP Property.