Mr. J.W. Morton reports

CARIBOO ROSE RESOURCES LTD. ANNOUNCES MANAGEMENT CEASE TRADE ORDER

Cariboo Rose Resources Ltd. has initiated a management cease trade order (MCTO), effective immediately.

Two weeks prior to the June 28, 2023, deadline to file its audited annual financial statements and accompanying management's discussion and analysis and related chief executive officer and chief financial officer certificates for the fiscal year ended Feb. 28, 2023, as required under applicable Canadian securities laws, Cariboo Rose was informed by its auditor that due to a change in its licensing, Cariboo Rose must engage a new auditor because it no longer had the ability to issue audit opinions. As a result, Cariboo Rose will be unable to meet the June 28, 2023, deadline for filing its annual filings.

In connection with Cariboo Rose's inability to file the annual filings on time, it has been approved for a management cease trade order under National Policy 12-203 -- Management Cease Trade Orders by the British Columbia Securities Commission.

Cariboo Rose remains confident in its ability to complete these annual filings and expects to file them as soon as they are available, but is looking at completion by or about Aug. 18, 2023.

Until Cariboo Rose files the annual filings, it will comply with the alternative information guidelines set out in NP 12-203. These guidelines, among other things, require Cariboo Rose to issue biweekly default status reports, in the form of news releases, for so long as the annual filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in Cariboo Rose's common shares listed on the TSX Venture Exchange. However, Cariboo Rose's chief executive officer and chief financial officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade in Cariboo Rose's shares, nor will Cariboo Rose be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee until such time as the annual filings and all continuous disclosure requirements have been filed by Cariboo Rose, and the MCTO has been lifted.

Cariboo Rose confirms that as of the date of this news release there are no insolvency proceedings against it and there is no other material information concerning its affairs that has not been generally disclosed.