ADVANCING GOLD DEPOSITS IN ARMENIA

Caldera Resources Inc. entered into a letter agreement with Global Gold Corporation on December 2009, to form a Joint Venture, whereby Caldera shall, subject to terms and conditions, earn a 55% interest in the Marjan Gold-Silver-Polymetallic Project, located in southwestern Armenia, after completing a bankable feasibility study on the deposit or spending US$3.0M on the property.

The Company is also seeking to acquire and develop the Lichkvaz-Tey gold deposit, also located in the Republic of Armenia. This deposit is currently owned by the Armenian government.

The Marjan Gold-Silver Deposit
The Marjan deposit has a Soviet-era GKZ mineral resource, categorized as C1 and C2, of 3.84 million tonnes grading on average 2.68 g/t Au, 97.3 g/t Ag. This translates to approximately 330,000 oz of gold, 12 million oz of silver.

The deposit is located in Armenia, some 28 km south-west of the village of Sisian and a 6 hour drive from the capital, Yerevan. Global Gold, through its wholly owned subsidiary Global Gold Hankavan LLC, holds a twenty-five year “special mining license” for the Marjan property. The license was issued April 22, 2008 and expires April 22, 2033. The license area covers approximately 18.5 km2.

The Lichkvaz-Tey Gold-Silver-Copper Deposit
The Lichkvaz-Tey deposit has a Soviet-era GKZ mineral resource, categorized as C1 and C2, of 3.4 million tonnes grading on average 5.1 g/t Au, 33.2 g/t Ag and 0.41% Cu. This translates to approximately 575,000 oz of gold, 3.7 million oz of silver and 33.4 million pounds of copper. The Gold ore of the Lichkvaz-Tey deposit is considered refractory and requires bioleaching technology to treat the ore to release the gold.

The Lichkvaz-Tey project is presently owned by the Armenian Government and is being pursued jointly by Caldera and BacTech Mining Corporation. Caldera has a Strategic Alliance Agreement with BacTech, the owner of the patented BACOX Bioleaching Technology. BacTech has the option to acquire a 40% interest in Caldera’s subsidiary, Biomine LLC, in return for providing technical support and test work for the project.

The exploration results referred to above are historical in nature and were compiled before NI 43-101. Caldera has not independently analyzed the results of the previous exploration therefore the historical results should not be relied upon. Caldera Resources believes these historical results provide an indication of the potential of the properties and are relevant to potential exploration.