Candorado Acquires Rare Earth Element Property East of Canadian International Minerals at Wicheeda

Candorado Operating Company Ltd. ("Candorado" or the "Company") (TSX
VENTURE:CDO) (FRANKFURT:HQU) (BERLIN:HQU) is pleased to announce today, subject
to TSX Venture Exchange (the "Exchange") approval, that it has entered into an
agreement with a private vendor to earn a 100% interest in certain mineral
claims, approximately 1,370 hectares in size, situated in the vicinity of the
Canadian International Minerals Ltd. ("CIN") (V-CIN) Carbo rare earth elements
(REEs) prospect located in the Wicheeda Carbonatite Belt, north of Prince
George, BC.


Candorado can earn a 100% interest by way of making payment of five thousand
dollar cash payment and issuing four million common shares of the Company upon
the Exchange's approval. In addition, CIN will receive one million common shares
of the Company on the first anniversary date of the agreement's acceptance by
the Exchange.


The western boundary of mineral claims is approximately 3 kilometres northeast
from the CIN eastern claim boundary. CIN has recently announced a progress
report on drilling on the Carbo prospect in a news release published November 8,
2010. 


Also active in the area is Spectrum Resources, a private company. The company
has reported that it had made a drill discovery of carbonatite-hosted rare earth
elements bordering the CIN claims.


About Candorado

Candorado is a British Columbia based mineral exploration company with a large
land position within the Quesnel Trough, home to some of Canada's biggest
copper-gold porphyry deposits.


Among its active exploration projects are the Man-Prime copper-gold porphyry
project near Princeton, British Columbia, and the Summer and Timothy Lake
copper-gold projects south of GWR Resources' Lac La Hache copper-gold project. 


Candorado also has a large land position adjacent to the Fjordland Exploration's
and Cariboo Rose Resources' Woodjam property east of Williams Lake that is now
under option by Gold Fields. Candorado has completed a reconnaissance IP survey
in this area and a report by Peter E. Walcott & Associates states that the
survey found a large zone of complex IP response (anomalous chargeability
readings) trending across the grid. In addition, magnetic anomalies appear to be
related to the IP anomalies. Further IP and magnetic survey work is necessary to
properly delineate the anomaly or anomalies, in advance of drilling. The
exploration targets are similar to alkali copper-gold porphyry Takom, Megabuck
and Deerhorn Zones on the adjacent Woodjam property to the north, which are well
delineated by IP and magnetic surveys. 


Furthermore it is the intention of the Company to continue exploration work on
its land position bordering Imperial Metals' Red Chris property. Candorado's
Eldorado property was acquired in 2004, years before the staking rush and sits
in a geologically favourable area.


ON BEHALF OF THE BOARD OF DIRECTORS OF CANDORADO OPERATING COMPANY LTD.

Kirk Reed, President and CEO 

Caution Regarding Forward-Looking Statements - This news release contains
certain forward-looking statements, including statements regarding the business
and anticipated financial performance of the Company. These statements are
subject to a number of risks and uncertainties. Actual results may differ
materially from results contemplated by the forward-looking statements. Factors
that could cause actual results to differ materially from those in the
forward-looking statements include unsuccessful exploration results, changes in
metal prices, changes in the availability of funding for mineral exploration and
development, unanticipated changes in key management personnel and general
economic conditions. When relying on forward-looking statements to make
decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any
forward-looking statements, oral or written, made by itself or on its behalf.