Mr. Frank Callaghan reports

GOLDEN CARIBOO TO CONSOLIDATE COMMON SHARES

Subject to the approval of the Canadian Securities Exchange (CSE), Golden Cariboo Resources Ltd. will be proceeding with the consolidation of all of its issued and outstanding common shares on the basis of one new share for every three old shares held, resulting in the company having approximately 14,511,337 shares issued and outstanding on a postconsolidated basis. The record date, expected postconsolidation trading date and new Cusip number will be announced after final approval by the CSE.

Registered shareholders of the company who hold their shares in certificate form will receive a letter of transmittal from the company's transfer agent, Computershare Investor Services Inc., with instructions for exchanging their preconsolidation shares. Shareholders who hold their shares through a broker or other intermediary will not need to complete a letter of transmittal. Shareholders who hold their shares in direct registration system format will automatically receive an exchanged DRS advice and will not need to complete a letter of transmittal.

No fractional shares will be issued as a result of the consolidation. Shares will be rounded down to the nearest whole share.

The consolidation is intended to make the shares more attractive to new and current investors.

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. 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 and successful placer mining continues to this day.

We seek Safe Harbor.