Mr. J. Frank Callaghan reports

GOLDEN CARIBOO TO DELIVER MINERAL RESOURCE ESTIMATE

Golden Cariboo Resources Ltd. has provided an update on its inaugural mineral resource estimate (MRE) for the Quesnelle Gold Quartz mine property, located approximately four kilometres (2.5 miles) northeast of Hixon, B.C.

Independent consultants are in the final stages of the company's inaugural MRE, which will provide the first formal quantification of the gold mineralization outlined through the company's drilling, exploration and geological modelling programs to date and will include historical exploration. The company anticipates releasing the completed MRE upon receipt of its independent National Instrument 43-101 technical report.

"This is an exciting time for Golden Cariboo, our shareholders and the region," stated Frank Callaghan, president and chief executive officer. "Every drill hole, every assay result and every geological breakthrough has expanded our understanding of the Halo, North Hixon and Main zones. We are now approaching the point where all of that work will be consolidated into a single independent resource model, providing the first comprehensive technical snapshot of the project and our first step towards the next phase of development."

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 Gold Group, 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 include some of the world's largest deposits such as Muruntau (Uzbekistan) and Bendigo (Australia).

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