Colorado Resources Ltd. ("Colorado") and Buckingham Copper Corp. ("Buckingham"), announced that they have completed their previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Colorado acquired all of the issued and outstanding common shares of Buckingham and, in exchange, shareholders of Buckingham received 0.5 of a common share of Colorado for each Buckingham Share held (the "Transaction"). Upon the completion of the Transaction, the five-member board of directors of Colorado (the "Colorado Board") was reconstituted by the addition of Michael Cathro and Dr. Fletcher Morgan to the existing Colorado Board, which was previously comprised of Cecil Bond, Alastair Still and Bryan Wilson.