Mr. J. Frank Callaghan reports

$700,000 FINANCING

Golden Cariboo Resources Ltd. has arranged a non-brokered private placement. The company has opened a private placement offering of units for gross proceeds of up to $700,000. The offering will consist of up to 8.75 million units at a price of eight cents per unit. 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 date at exercise prices as follows: 12 cents in year one, 17 cents in year two, 22 cents in year three, 27 cents in year four or 30 cents in year five.

All securities from the private placement will be subject to a four-month hold period. In connection with the private placement, certain eligible persons may be paid commissions in accordance with the policies of the Canadian Securities Exchange. The proceeds from this private placement will be used for general working capital and continued property exploration.

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.

We seek Safe Harbor.