Mr. Bill Morton reports

CREW AND EQUIPMENT MOBILIZED TO COWTRAIL PROJECT IN PREPARATION FOR JUNE START-UP

Cariboo Rose Resources Ltd. has been advised by optionee BRS Resources Ltd., a private company which is earning an interest in the Cowtrail project that a crew and equipment have been mobilized to the property in preparation for diamond drilling in early June, 2023.

The 4,592-hectare (46 square kilometres) Cowtrail project is 100 per cent owned by Cariboo Rose and located in south-central British Columbia, south of the existing Mount Polley mine and contiguous with the Woodjam copper-gold porphyry project owned by Vizsla Copper Corp. and the Redgold Copper project to the west also recently acquired by Vizsla Copper.

The Cowtrail property covers a magnetic feature that extends to the northwest from a buried alkalic intrusive discovered by Eastfield Resources and Imperial Metals Corp. in 1998. The magnetic signature is comparable in several ways with that of the Mount Polly mine (15 kilometres northwest).

Reconnaissance drill testing of extensive induced polarization anomalies (vintage 1997, 2004 and 2006) define a vector of mineralization trending to the west beyond the area drilled. Significant drill intercepts include 1.16 grams per tonne gold over 18.3 metres and 0.17 per cent copper and 0.11 g/t gold over 40.0 m.

A soil grid at Cowtrail was expanded in 2021 and 2022.

Of note is a 600-metre-long northwest-trending gold/arsenic-in-soil anomaly that covers an area of the BM showing.

The project was optioned to BRS Resources Ltd. in November, 2022, which may earn a 60-per-cent interest over a four-year term by making payments totalling $400,000 and completing $2-million in exploration.

The project is fully permitted.

J.W. (Bill) Morton, PGeo, within the context of the requirements of National Instrument 43-101, is the qualified person who takes responsibility for this news release.

About Cariboo Rose Resources Ltd.

Cariboo Rose owns seven mineral projects in British Columbia. A summary of these projects is as follows.

Carruthers Pass, 100 per cent owned subject to an option with Vizsla Copper (a spinout from Vizsla Silver completed Oct. 1, 2021), which may earn a 60-per-cent interest by making payments of $650,000 and completing $3-million in exploration, is a sediment-hosted massive sulphide discovered by Freeport McMoRan Copper and Gold in 1997. A 100-per-cent interest was acquired by Cariboo Rose from FMC in 2011, located in Northern British Columbia south of the Kemess copper-gold mine. Most significant to the project is a mineralized slab of rock weighing several hundred tonnes protruding from talus with a drill intercept through it of 3.1 metres grading 6.2 per cent copper, 5.8 per cent zinc, 2.37 g/t gold and 192.0 g/t silver. It has numerous untested geochemical and geophysical targets.

Lightning Strike, 100 per cent owned, located 50 kilometres northeast of the community of 100 mile House, B.C. Same rock suite and style of mineralization as exist at Spanish Mountain Gold located 90 kilometres to the northwest and FG Gold 30 kilometres to the north. Drilling completed in 2008, 2009 and 2010 included intercepts of 4.54 g/t Au and 60.2 g/t Ag over 3.8 metres, 19.9 g/t Au over 1.5 metres, and 1.03 g/t Au over 26 metres. Deposit example types include the giant Murantau and Sukoy Log deposits in Russia. Cariboo Rose recently completed 11 reverse circulation drill holes at Lightning Strike, which are currently being analyzed (see the news release dated Sept. 24, 2021). Lightning Strike is fully permitted.

Coquigold, 100 per cent owned, epithermal gold (quartz-adularia) located in Southern B.C., 10 kilometres north of Shovelnose Mountain (Westhaven Gold Corp.: Shovelnose discovery). Central to Coquigold is an area where, in 2008, the B.C. Geological Survey identified and sampled quartz sinter and several areas of silicified (chalcedonic) volcanic and intrusive breccia in bedrock. Sampling in 2019 by Cariboo Rose confirmed an epithermal mineralizing event with bedrock samples returning up to 43.1 grams per tonne silver, 559 parts per million arsenic, 13,400 parts per billion mercury and 101 ppm antimony. Trenching is planned for 2021.

Cowtrail, 100 per cent owned, located in south-central B.C., contiguous with the Woodjam copper-gold porphyry project owned by Vizsla Copper. Reconnaissance drill testing of extensive induced polarization anomalies (vintage 1997, 2004 and 2006) defined a vector of mineralization trending to the west beyond the area drilled. Significant drill intercepts include 1.16 g/t gold over 18.3 m and 0.17 per cent copper and 0.11 g/t gold over 40.0 m. An untested soil gold arsenic anomaly with coincident strong induced polarization is located a further two kilometres to the west. Results for 900 soil samples collected earlier in 2021 have now been received. Cowtrail is fully permitted.

Koster Dam, 55 per cent owned (Ameriwest Lithium Inc.: 45 per cent), located in Southern B.C. 10 kilometres north of the former-producing Blackdome gold mine, with a volcanic-hosted gold target related to the Fraser River fault system. Recent programs have located areas of greater than one gram per tonne gold in rubble and chalcedonic quartz in outcrop. A triaxial magnetic survey and a lidar survey were completed in June with data currently being interpreted. Koster Dam is fully permitted.

Pat, 100 per cent owned, staked by Cariboo Rose in 2004, located in south-central B.C. contiguous with the Woodjam copper-gold porphyry project owned by Consolidated Woodjam Copper, has a very strong unexplained magnetic airborne anomaly in prospective Nicola group volcanic rocks.