Caerus Resource Acquires Gold Interests in Colombia



    Symbol: CA TSX-V

    VANCOUVER, June 15 /CNW/ - Caerus Resource Corporation (TSX-V: CA) ("The
Company") is pleased to announce that it has entered into a Letter Agreement
for the 100% acquisition of White Gold Corp. "White Gold", a private Alberta
corporation, is engaged in gold exploration in Colombia, South America. The
agreement is an arm's length transaction. The Agreement enables the Company to
acquire a large, strategic solicited ("claimed") property portfolio in some of
Colombia's most important gold exploration and mining regions.

    Terms of Acquisition

    Caerus and White Gold entered into a Letter Agreement June 8, 2009 for
the 100% acquisition of White Gold Corp., by way of a plan of arrangement or
other business transaction. Terms of the acquisition include:

    
    1.  A one for one share exchange of 13,786,000 common shares of Caerus
        for all the issued and outstanding shares of White Gold Corp;
    2.  Payment of $100,000 to White Gold Corp., split into a payment of
        $50,000 non-refundable upon the signing of this Letter Agreement, and
        a further $50,000 (refundable if the transaction does not close) upon
        completion of a Definitive Agreement;
    3.  Completion of a Definitive Agreement two weeks from the signing of
        this Letter Agreement; and
    4.  The appointment of Mr. John Gomez, the President of White Gold Corp.,
        to the board of directors of Caerus at closing.

    Closing of this transaction is contingent upon but not limited to the
following:

    1.  Approval of the TSX Venture Exchange, other regulatory bodies and
        potentially shareholder approval from both White Gold and Caerus;
    2.  Completion of legal due diligence by Caerus; including a property
        title opinion and,
    3.  The completion of a NI 43-101 compliant report on the project(s).

    About White Gold
    ----------------
    
    Through its wholly-owned Colombian subsidiary, Oro Barracuda Ltda., White
Gold has solicited approximately 220,000 hectares in Colombia for mineral
exploration. The concessions are located in three of the major gold areas of
Colombia, covering parts of five departments ("Provinces"). The largest group
of concessions is in the "Sura Gold Region" in northeast Colombia that
comprises approximately 180,000 hectares, including in and around the
California-Vetas mining district, host to Greystar Resources Ltd.'s (TSX: GSL)
multi-million ounce Angostura gold deposit, and Ventana Gold Corp's (TSX: VEN)
La Bodega gold discovery. A single concession of approximately 500 hectares is
located adjacent to Continental Gold Ltd.'s Buritica gold mine in Antioquia
Department. The balance of properties are located in the Tolima and Quindio
departments in three distinct blocks near the La Colosa project, a major gold
deposit discovered last year by AnlgoGold Ashanti Ltd. (NYSE:   AU). All the
areas claimed by White Gold are currently "in process" and are expected,
though not guaranteed, to be granted over the coming months.

    Sura Gold Region - Santander and Norte de Santander

    The Sura Gold Region straddles the border among the departments of
Santander and Norte de Santander, and is an area of significant exploration
and gold discovery. This region hosts a large number of small historic mines,
and major gold deposits including Greystar's 11.5 million ounce (measured and
indicated) Angostura gold deposit, where a feasibility study is currently
underway, as well as Ventana's La Bodega gold property. There are currently
three drill rigs working at La Bodega, with a further three planned, to
delineate a new high-grade gold discovery. With 180,000 hectares solicited by
White Gold - covering geological targets - the company would have the largest
land position in this prolific gold region. Two mineralized areas of as yet
unknown significance have already been discovered by White Gold; one area is
west of La Bodega along a parallel NE trending fault structure; the other in a
more remote area north of La Bodega that has been recently invaded by gold
miners.

    La Colosa Region - Tolima and Quindio: White Gold has applied for three
separate concessions in the departments of Tolima and Quindio south, east and
west of AngloGold's La Colosa discovery. The package totals 38,000 hectares,
with the closest group of concessions just 5 km from the La Colosa deposit.
With reported resources of 12.3 million ounces, La Colosa is one of the
largest new gold discoveries in South America. In a 2005 report on the area
completed by INGEOMINAS (the Colombian Institute of Geology and Mining) two
areas were reported as being highly prospective for gold. One of those areas
is the group of concessions solicited by White Gold 5 km SW of La Colosa.

    Buritica Region - Antioquia: White Gold also has applied for a 500
hectare concession located near the town of Buritica in Antioquia department,
Colombia's highest producing gold province. The property is adjacent to and
along the projection of Continental Gold Ltd.'s flagship Buritica gold
project, a discovery made in January 2008, which hosts breccias pipes and
mesothermal veins in a gold porphyry environment. Continental Gold is a
private company and announced in January the commencement of gold production
at Buritica on a pilot scale.
    Company management have now initiated a due diligence process and will
report back to shareholders with further property details. Mr. Paul Pelke, a
registered geologist in the State of Nevada, and a Qualified Person as defined
in National Instrument 43-101, has been retained by the Company to produce a
technical report on the project(s).

    Board Appointment of Founder of White Gold at Closing: Upon closing of
the transaction, White Gold founder and president, John Gomez, will join the
Board of Directors of the Company. Mr. Gomez is an entrepreneur with 18 years
experience in investor relations, corporate finance, and business development
with public and private companies. He has developed communications programs
for several leading Canadian and international companies including
corporations listed on the NASDAQ and TSX Venture Exchanges. Mr. Gomez is
founder of U3O8 Media Inc., (www.u3o8.biz) a leading online investor portal on
the uranium industry; founder of RAGOM Sports Inc., a retailer of professional
sports merchandise; a director of Texcan Capital Inc. (www.texcancapital.com)
a start-up financial services company; and founder of Riviera Maya WorldSite
(www.mayanriviera.travel) an online travel portal. Mr. Gomez has a B.A. from
the University of Victoria, British Columbia.

    Private Placement Financing: The Company is pleased to announce a
non-brokered private placement financing of up to 4 million units. Each unit
is priced at $ 0.20 and is comprised of one common share and one common share
purchase warrant. Each common share purchase warrant allows the holder to
purchase an additional common share of the Company at a price of $ 0.375 per
share for a period of two years from the date of the closing of the placement.
A portion of the placement will be subject to a finder's fee of 10% cash and
10% warrants. Each warrant will allow the holder to purchase one common share
of the Company for a period of two years form the date of closing. Pursuant to
the terms of the private placement, commencing on the date that is four months
from the date of closing of the placement, the Company will have the right
upon giving written notice to the holders of the warrants to accelerate the
warrant expiry to a period of 30 days from the date of the written notice,
where the average closing price a common share of the Company on the TSX
Venture Exchange is greater than $ 0.60 for any consecutive 20-day period. To
be valid, the notice must be sent to the warrant holders within five business
days of the 20-day period. The finder's fee warrants are subject to the same
terms. The proceeds from the placement will be used for the above noted
transaction. Closing of the placement is subject to regulatory approval, and
is contingent upon closing of the above transaction.

    On Behalf of the Board of Directors of Caerus Resource Corporation

    Adrian F.C. Hobkirk/President and Chief Executive Officer

    ---------------------------------------------------------------------

    On Behalf of the Board of Directors of White Gold Corporation

    John Gomez/President and Chief Executive Officer

    The TSX Venture Exchange has not reviewed the content of this News
Release and therefore does not accept responsibility or liability for the
adequacy or accuracy of the contents of this News Release. This news release
contains certain "forward- looking statements" within the meaning of Section
21E of the United States Securities and Exchange Act of 1934, as amended.
Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward- looking statements.
Forward-looking statements are based upon opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors which could cause actual results to differ
materially from those projected in the forward-looking statements. The reader
is cautioned not to place undue reliance on forward-looking statements. The
transaction described in this News Release is subject to a variety of
conditions and risks which include but are not limited to : regulatory
approval, shareholder approval, market conditions, legal due diligence for
claim validity, financing, political risk, security risks at the property
locations and other risks. As such, the reader is cautioned that there can be
no guarantee that this transaction will complete as described in this News
Release. We seek safe harbour.





For further information:

For further information: Caerus Resource Corporation, No.258 - 2950
Newmarket, Suite 101, Bellingham, WA, USA, 98226, Tel: (360) 961-4462, Fax:
(360) 738-8917, www.resourceexploration.com, info@resourceexploration.com

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CAERUS RESOURCE CORPORATION

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