Mr. Bill Morton reports

DIAMOND DRILLING UNDERWAY AT CARBONATE HOSTED GOLD

Cariboo Rose Resources Ltd. has been advised by Basin Uranium Corp., which is earning an interest in the Carbonate Hosted gold project (CHG), that diamond drilling is now under way.

In 2021, a VTEM airborne geophysical survey was completed over the Carbonate Hosted gold (CHG) claim block and identified a number of resistivity and magnetic anomalies near the topographical high end of three silt sample gold anomalies. An initial test of some of these conductors was attempted in March, 2023, using reverse circulation drilling but was unsuccessful owing to the inability of the reverse circulation drill to penetrate the overburden with all seven holes abandoned in till at depths ranging from 43 to 64 metres. The current drill program will again target these same anomalies using a diamond drill provided by Paradigm drilling of Kamloops, B.C.

CHG is located in Southern British Columbia on the east slope of the Marble Range near Clinton, B.C. A key contributor to the geological concept of CHG is the permissiveness of gold mineralization to carbonate rocks (silty sediments and limestone) as demonstrated by the Muddy Lake deposit in Northern British Columbia, the Rackla gold project in the Yukon and the numerous gold deposits in Nevada. Since initiating exploration in 2013, Cariboo Rose has targeted three drainages sourcing in the Marble range (limestone dominant) that returned highly anomalous gold analysis in silt with numerous samples returning values ranging from 100 parts per billion (ppb) to 929 ppb gold in silt and to greater than 10,000 ppb gold in sluiced silt. These east-flowing drainages source from an area approximately eight kilometres wide.

Basin Uranium may earn a 60-per-cent interest in CHG by making payments of $300,000 and completing $1.5-million in exploration by Dec. 31, 2027 ($850,000 now completed), and thereafter an additional 10-per-cent interest by completing a bankable feasibility study within 24 months.

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.