Mr. J. Frank Callaghan reports

GOLDEN CARIBOO RESOURCES INTERSECTS 0.89 G/T GOLD OVER 70.65 M (231.79 FT) FROM NEAR SURFACE

Golden Cariboo Resources Ltd. has released the results from diamond drill holes QGQ25-26 and QGQ25-27 at its Quesnelle gold quartz mine property, located four kilometres (km) northeast of Hixon, B.C., south of Prince George. Drill hole QGQ25-27 intersected 0.89 gram per tonne (g/t) gold over 70.65 metres (m) (231.79 feet (ft)) from near surface at 14.20 m (46.59 ft) depth within the Halo zone.

Drill hole QGQ25-27 is located in the Halo zone and was drilled at the preferred orientation of 353 degrees. It was terminated prematurely due to technical issues. Drill hole QGQ25-26 was drilled between the main zone and the Halo zone. The drill hole intersected large quantities of andesitic flow, which is not a favourable host rock for quartz veining. Drill hole QGQ25-28 is currently continuing, testing the northwest extension of the Halo zone.

Golden Cariboo president and chief executive officer Frank Callaghan states: "Intersecting nearly 71 metres of continuous gold mineralization from near surface is another strong indication of the scale and continuity developing within the Halo zone. Results like this reinforce our confidence that we are delineating a significant mineralized system at the Quesnelle gold quartz property. As drilling continues to expand the Halo zone and test the broader trend, each hole is adding to the data set that will support the company's planned mineral resource estimate."

QA/QC (quality assurance/quality control) samples, including blanks, standards and coarse reject duplicates, constitute 5 per cent of the total number of samples. The reported drilling has all been NQ core, which has been logged then split in half before being sent to the laboratory.

The drill core samples were sent to the accredited MSALABS laboratory (MSA) in Prince George for analysis. Samples were crushed by MSA to more than 70 per cent passing below two millimetres (mm) and split using a riffle splitter, and 250-gram (g) splits were pulverized to more than 85 per cent passing below 75 microns. An aqua regia digest with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish was used for 35-element analysis on 0.5 g aliquots. Additionally, PhotonAssay (photon) analysis was conducted for gold and silver. Photon analysis uses a larger size (250 to 500 g), compared with 30 or 50 g in a fire assay, providing a more thorough assessment of gold distribution in coarse gold settings, characteristic of the Halo zone, where nugget effects can impact conventional assay results. MSA is accredited for the procedures performed and entirely independent from the company.

The technical information in this news release has been reviewed and approved by Jean Pautler, an independent consultant commissioned by the company. Mr. Pautler is a professional geoscientist (PGeo) registered with the Association of Professional Engineers and Geoscientists of the Province of British Columbia (APEGBC), and licensed by Engineers and Geoscientists B.C., and is a qualified person with respect to National Instrument 43-101.

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 m by 150 m (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 km (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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