Mr. J. Frank Callaghan reports

GOLDEN CARIBOO RESOURCES GRANTS OPTIONS

Golden Cariboo Resources Ltd. has granted 3.7 million stock options with an exercise price of 10 cents to directors, officers, employees and consultants for a period of five years expiring Dec. 31, 2030.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources is rediscovering the Cariboo gold rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle gold quartz mine property, which is bordered by Osisko Development, partly intertwined with them at the north end of the Cariboo gold project, and located along a favourable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899-hectare (234,501-acre) area. Historically, over 101 placer gold creeks on the 90-kilometre (56-mile) trend, from the Cariboo Hudson mine north to the Quesnelle gold quartz mine property, have recorded production with successful placer mining continuing to this day.

Golden Cariboo's Quesnelle gold quartz mine property is four kilometres (2.5 miles) 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 and developed over a footprint of about 150-metre-by-150-metre (less than six acres) at the main zone straddling Hixon Creek. Over all, the geological setting of the gold mineralization at the company's Quesnelle gold quartz mine property shows strong similarities with the Spanish Mountain gold deposit, situated 120 kilometres (75 miles) toward the southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered to belong to the epizonal orogenic subclass of gold deposits, which include some of the world's largest deposits, such as Muruntau, Uzbekistan, and Bendigo, Australia.

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