Mr. Frank Callaghan reports

GOLDEN CARIBOO ANNOUNCES EFFECTIVE DATE FOR SHARE CONSOLIDATION

Further to Golden Cariboo Resources Ltd.'s news release of Jan. 19, 2024, it will effect the consolidation of its common shares on the basis of one new share for every three old shares on or about Wednesday, Feb. 7, 2024, resulting in the company having approximate ly 14,511,337 shares issued and outstanding on a postconsolidation basis.

The shares of the company will begin trading on a consolidated basis at the opening of trading on or about Wednesday, Feb. 7, 2024. The new ISIN of the company is CA3808134025 and the Cusip is 380813402.

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 DRS 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, as any fractional share will be rounded to the nearest whole number. Specifically, each fractional share remaining after consolidation that is less than half of a share will be cancelled and each fractional share that is at least half of a share will be changed to one 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.

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 Au and 4.18 g/t Ag in 1932 and 1939, with an additional 217 tonnes of unknown grade reported in 1878 (B.C. Minfile, 2021). Hixon Creek, which dissects the Quesnelle gold quartz mine property, is a placer creek which 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 was mined from Hixon Creek.

We seek Safe Harbor.