Caldera Announces Modification to Private Placement

MONTREAL, Oct. 21, 2011 /PRNewswire/ -- Caldera Resources Inc. (TSX-V: CDR)(OTC: CAEFF )("the Company" or "Caldera") announced on Wednesday, October 19, 2011, that it was undertaking a non-brokered private placement of up to $150,000 in the form of 2,500,000 units priced at $0.06. In discussion with potential investors, the terms of the Private Placement have been modified as follows with changes indicated in BOLD and CAPITAL letters.

Caldera will raise up to $168,000 through the issuance of 2,800,000 units ("Units") at a price of $0.06 per Unit. The proceeds from this financing will be used for general working capital. Insiders of the corporation will be participating in this private placement.

The securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing (the "Hold Period").  Closing is scheduled for Friday October 28, 2011.

Each Unit will be comprised of one common share and ONE FULL share purchase warrant for a term of 24 MONTHS ("Warrant") from date of closing.  One Warrant will entitle the holder to purchase one additional common share at a price of $0.10 per share. The Warrants are subject to an "Acceleration Right" in favor of the Issuer, where the Warrants are subject to early termination if the underlying shares close at $0.15 per share or higher for TWENTY (20) consecutive trading days. The Corporation may give notice by the issuance of a press release that the Warrants' expiration date will be accelerated and the Warrants will expire 20 trading days thereafter (the "Acceleration Right"). The Acceleration Right shall not be exercised prior to the expiry of the Hold Period.

If the placement is fully subscribed, a total of 2,800,000 shares will be issued and 2,800,000 warrants. Caldera currently has 56,533,333 shares outstanding.

The Company may pay finder's fees in connection with the private placement, subject to compliance with the policies of the TSX Venture Exchange ("Exchange"). Completion of the private placement and the payment of any finder's fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange.

About Caldera

Caldera is engaged in advancing its silver and gold project in the Republic of Armenia. Caldera holds a 55% interest in the Marjan Polymetallic Gold and Silver Project with a purchase obligation to acquire 100% of the project from Global Gold Corporation ("GBGD"), by making certain payments by December 2012.

Caldera has filed a complaint with the American Arbitration Association against GBGD who unilaterally and illegally terminated the JVA between the parties. The binding arbitration hearing is currently underway in New York.

For additional background information and details relating to the Joint Venture and Arbitration, please see our press releases of October 12, 2010, October 22, 2010, November 21, 2010, March 1, 2011, May 11, 2011, June 14, 2011, August 2, 5 and 9, 2011, and September 6, 2011 on our website at www.calderaresources.com or on SEDAR.

Cautionary Statement

The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.

Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.

For additional information:

Mr. Bill Mavridis
President and CEO, Caldera Resources Inc.
Direct line: 514-813-9200
Email:  [email protected]
www.calderaresources.com

President, Marjan-Caldera Mining LLC (Delaware)
2711 Centerville Road, Suite 400
Wilmington, Delaware, USA
Tel: 302-482-8121

Mr. David Goldman
Envoy Strategic Partners
Tel: 416-977-7778
[email protected]

SOURCE Caldera Resources Inc.