Mr. Andrew Rees reports

GOLDEN CARIBOO ANNOUNCES $750,000 PRIVATE PLACEMENT

Golden Cariboo Resources Ltd. has arranged a non-brokered private placement of up to 10 million units, at a price of 7.5 cents per unit, for gross proceeds of $750,000. Each unit will consist of one common share and one share purchase warrant; each warrant is exercisable for a period of five years from the closing at a price of 15 cents per share.

The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. Finders' fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.

Proceeds will be used for property exploration and for general working capital.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources is rediscovering the Cariboo gold rush by proceeding with high-grade targeted drilling and trenching programs on its Quesnelle gold quartz mine project, which is almost fully encircled on three of four sides by Osisko Development Corp. Historically, over 101 placer gold creeks on the 90-kilometre trend from the Cariboo Hudson mine north to the Quesnelle gold quartz mine have recorded production in excess of 2.6 million ounces of gold up to 1933 (Hall, 1986) and successful placer mining continues to this day.

Golden Cariboo's Quesnelle gold quartz mine property is four kilometres northeast of, and road accessible from, Hixon in central British Columbia. The property includes the Quesnelle quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities and produced 2,048 tonnes grading 3.14 grams per tonne (g/t) gold (Au) and 4.18 g/t silver (Ag) in 1932 and 1939, with an additional 217 tonnes of unknown grade reported in 1878 (British Columbia Minfile, 2021). Hixon Creek, which dissects the Hixon gold claims, is a placer creek that has seen limited, small-scale placer production since the mid 1860s. From Ministry of Mines reports prior to 1945, estimates of up to $2-million worth of placer gold were mined from Hixon Creek.

We seek Safe Harbor.