Mr. Bill Morton repots

BASIN URANIUM TO CONTINUE WITH CARBONATE HOSTED GOLD OPTION

Cariboo Rose Resources Ltd. has been advised by Basin Uranium Corp. that it will continue with a revised option to earn an interest in the carbonate-hosted gold project located in Southern British Columbia near the community of Clinton.

To finish the option obligations to earn a 60-per-cent interest in the project, Basin Uranium is required to make exploration expenditures of $1-million, a cash payment of $110,000, and cash and/or share payments of $110,000 before Dec. 31, 2028. An exploration expenditure of $100,000, a cash payment of $15,000, and cash and/or share payments of $35,000 are due by Dec. 31, 2025. Cariboo Rose will accept exploration expenditures and payments made by Basin Uranium up to Dec. 31, 2024, which total $448,930 and $135,000, respectively, sufficient to satisfy obligations that were due by that date. Basin Uranium may earn a further 10-per-cent interest (70-per-cent total) in the carbonate-hosted gold project by completing a bankable feasibility study within 24 months of earning a 60-per-cent interest.

CHG is drained to the east by three creeks with very strong gold silt anomalies in a predominantly limestone terrane with many silt values exceeding 500 parts per billion gold. A versatile time domain electromagnetic airborne survey completed in 2022 indicates a number of resistivity and magnetic anomalies in the potential source area of these geochemical anomalies, which has a north-south extent of at least six kilometres. In 2023, Basin Uranium completed a seven-hole reverse circulation drill program in one target with none of the holes penetrating through the overburden. In March, 2024, a single diamond drill hole was completed in the same area, which encountered overburden to 120 metres followed by a clay altered unit to 139 metres before the hole was lost in a fault.

CHG is located in a semi-arid setting on the east slope of the Marble range. 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 territory and the numerous gold deposits in Nevada. An interesting observation on the potential of CHG is an excerpt from the report to the Minister of Mines (British Columbia) 1886, referencing G.M. Dawson of the Geological Survey of Canada. From the report, "Specimens of a jaspery quartz containing free gold and assaying $300 to the ton have been found in the early part of this year in three separate locations within the surveyed bounds of the town of Clinton." (Readers are warned to treat this reference with caution owing to its time frame and rudimentary context.)

Details of the 2025 program are still being formulated and will be released at a future date.

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. In addition to carbonate-hosted gold, these are:

• Lightning Strike, shale-hosted gold, located east of 100 Mile House, 100 per cent owned;
• Carruthers Pass, massive sulphide, located southwest of Kemess mine, 100 per cent owned;
• Cowtrail, contiguous with Woodjam project (Vizsla Copper Corp.), 60-per-cent option to BRS Mining Resources;
• Pat, porphyry copper-gold, contiguous with Vizsla Copper's Woodjam project, 100 per cent owned;
• Coquigold, epithermal gold, north of Westhaven Gold's Shovelnose, 70-per-cent option to CMP Minerals;
• Koster Dam, gold, located near Black Dome mine, 55-per-cent to 45-per-cent joint venture with Discovery Lithium Corp.