Mr. J. Frank Callaghan reports

GOLDEN CARIBOO RESOURCES INTERSECTS 364.98M OF 0.41 G/T GOLD

Golden Cariboo Resources Ltd. has intersected 0.41 gram per tonne gold over 364.98 metres in drill hole QGQ25-28. The drill hole extends the footprint of the Halo zone to the north.

President and chief executive officer Frank Callaghan stated: "This drill hole expands the known extent of our Halo deposit and shows lateral continuity of the system that bodes well for our upcoming maiden mineral resource estimate. This long drill intercept from near surface shows 149.6 gram-metres Au, showcases the scale of this system. The gold deposit is only four kilometres away from the community of Hixon in central British Columbia and Highway 97, fully accessible by logging roads, making this project ideal for year-round drilling. Additionally the topography is relatively flat, allowing for easy access to the gold deposit."

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 and split in half before being sent to the laboratory.

The drill core samples were sent to the accredited MSALABS laboratory in Prince George for analysis. Samples were crushed by MSA to greater than 70 per cent passing below two millimetres and split using a riffle splitter, and 250-gram splits were pulverized to greater 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-gram aliquots. Additionally, PhotonAssay (photon) analysis was conducted for gold and silver. Photon analysis uses a larger size (250 to 500 grams), compared with 30 or 50 grams 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 Dr. Sarah Palmer, an independent consultant commissioned by the company. Dr. Palmer is a professional geoscientist (PGeo) registered with the Professional Geoscientists of Ontario 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 it at the northern 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 metres by 150 metres (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 includes some of the world's largest deposits such as Muruntau (Uzbekistan) and Bendigo (Australia).

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