Caldera announces share consolidation and AGM for December 4, 2009

Symbol: tsx-v CDR

MONTREAL, Oct. 1 /CNW Telbec/ - Caldera Resources Inc. announced today that it will hold an Special and Annual General Meeting on December 4, 2009. The record date will be set for October 30, 2009.

At the meeting, the Shareholders will be asked to approve a resolution to consolidate the Corporation's common shares on a 1-for-10 basis (the "Resolution"). If the Resolution is approved the Corporation's outstanding shares would be reduced from 141,925,767 to 14,192,576.

Proposed Financing

The Corporation also announced that it will be raising up to $500,000 in equity financing by way of Private Placement. The closing for the transaction is set for October 30, 2009. The Corporation will be offering investors Subscription Receipts (the "Receipts") priced at $1,000 per Receipt. The Receipts will be automatically converted to Common Shares (the "Shares") with an equal number of Share Purchase Warrants (the "Warrants"), on the close of trading of December 4, 2009.

Pending approval of the Resolution by the Shareholders, the Shares will be priced at a 25% discount to current market, on a post-consolidated basis. The conversion price for the Receipts will be set at $0.1125 per Share. Each Share issued will include 1 full Warrant. The exercise price of the Warrants would be set at $0.15 expiring in 24 months. Each Receipt held would be converted to 8,888 Shares and 8,888 Warrants (fractions will be dropped).

If the total financing is closed, then 4,444,000 Shares would be issued at $0.1125 per share and 4,444,000 Warrants would be issued that can be exercised by the holder at $0.15 per share, expiring in 24 months. All shares issued in the Private Placement would have a 4 month hold.

If the Resolution is not approved then the Receipts will be converted at $0.015 per Share, for a total issuance of 66,666 Shares per Receipt and 66,666 Warrants. The Warrants will expire in 36 months and be exercisable at $0.05 for the first 12 months and $0.10 thereafter (all fractions will be dropped). If the financing is fully subscribed, then a total of 33,333,000 Shares will be issued and an equal number of Warrants.

The proceeds from the financing will be used for working capital, for general and administrative expenses and for potential acquisition.

Reviewing Prospective Gold Project in Armenia

The Corporation is currently reviewing investment opportunities in the Republic of Armenia. Since May of this year, the Corporation has made 2 visits to Yerevan, the capital of Armenia, where it is working to secure an advanced gold exploration project. The Corporation has established an Armenian corporate entity under the name of BIOMINE LLC. The Corporation owns 91% of the shares of its subsidiary and the balance of the shares are owned by its local partner.

In other news, Mr. Edward Ierfino has resigned from the position of Corporate Secretary because of other professional commitments. Management would also like to inform readers that based on a review of the due diligence report from GWP Consultants on the Gjegjan Copper Wastes project, and taking in to consideration the current volatility of the copper market, the project is being put on hold. Management also would like to announce that as per Board resolution of February 19, 2009, it has terminated all options issued by the corporation on December 4, 2008.

About Caldera Resources Inc.

Caldera Resources Inc. is focusing on projects amenable to utilizing bioleaching or chloride leaching technology for the economic recovery of base metals and precious metals from mine waste and tailings with a focus on Southeastern Europe and the Causes. Caldera is actively seeking a gold exploration project in the Republic of Armenia and owns 100% the Ellendale and Runton diamond exploration properties in Australia.

    
    THIS NEWS RELEASE MAY INCLUDE CERTAIN "FORWARD-LOOKING STATEMENTS". ALL
    STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT, INCLUDED IN THIS
    RELEASE INCLUDING 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 FROM THOSE
    ANTICIPATED IN SUCH STATEMENTS NO STOCK EXCHANGE, SECURITIES COMMISSION
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SOURCE CALDERA RESOURCES INC.

For further information: For further information: Bill Mavridis, President, Caldera Resources Inc., Direct Line: (514) 813-9200, bmavridis@calderaresources.com; www.calderaresources.com

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CALDERA RESOURCES INC.

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