Golden Cariboo Prepares for Geochemical and Ground Geophysical Surveys

May 21, 202412:07 UTC

(TheNewswire)

May 21, 2024 – TheNewswire -Vancouver, Canada – Golden Cariboo ResourcesLtd. (“GCC” or the “Company”) (CSE:GCC), (OTC:GCCFF),(WKN:A0RLEP) is pleased toannounce that field personnel have commenced preparation of a grid forground geophysical and geochemical surveys at its Quesnelle Gold Quartz Mine property (the “Property”) nearHixon, British Columbia.

Company personnel have commenced brushing of existingolder trails and new grid lines in preparation for soil sampling andground geophysical surveys at the Property. In addition to regionalmapping and sampling in progress, as reported in News Release datedMay 14, 2024, MMI soil sampling will be conducted across select linesand trails, at first, to test its viability for defining new trenchingand drilling targets. Anew grid is also being prepared for ground self-potential geophysicalsurveys across the known and inferred location of thegreenstone-schist contact to help define the contact along trend aswell as any associated conductive and possibly mineralized zones. Theself-potential geophysical method is the same method that GCC’sstaff utilized to define the bounds of Osisko’s Bonanza Ledge beforedrilling was completed on it in its discovery year; and the very sameteam will utilize this survey method at the Property near the Main,Halo and North Hixon zones.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources Ltd. is rediscovering theCariboo Gold Rush by proceeding with highly targeted drilling andtrenching programs on its Quesnelle Gold Quartz Mine property which isalmost fully encircled on 3 of 4 sides by Osisko Development(NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the90 km trend from the Cariboo Hudson mine north to the Quesnelle GoldQuartz Mine property have recorded production and successful placermining continues to this day.

Golden Cariboo’s Quesnelle Gold Quartz Mine propertyis 4 km northeast of, and road accessible from, Hixon in centralBritish Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which wasdiscovered in 1865 in conjunction with placer mining activities. HixonCreek, which dissects the old workings, is a placer creek which hasseen small-scale placer production since the mid 1860s.

For further information please contact:

GOLDEN CARIBOO RESOURCES LTD

“J. Frank Callaghan”

J. Frank Callaghan, President &CEO

Tel: 604-682-2928

VISIT OUR WEBSITE FOR MOREDETAILS

www.goldencariboo.com

LIKE AND FOLLOW

Instagram, Facebook, X (Twitter), LinkedIn

Neither the “CSE” Canadian Securities Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

Cautionary Statements:

This news release containsstatements which constitute “forward-looking information” withinthe meaning of applicable securities laws, including statementsregarding the plans, intentions, beliefs and current expectations ofthe Company with respect to future business activities and plans ofthe Company. Forward-looking information is often identified by thewords “may”, “would”, “could”, “should”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” or similar expressions and includesinformation regarding; the expectation that the Company will receiveall necessary exemptions and approvals to complete the Offering; theexpectation that the Company will complete the Offering on the termsdisclosed, or at all; the expectation that the proceeds will be usedfor property exploration and for general working capital; theCompany’s exploration plans with respect to its Quesnelle GoldQuartz Mine property; and the anticipated participation of the insiderin the Offering.

Such forward-looking statements arebased on a number of assumptions of management, including, withoutlimitation, that the Company will receive all necessary exemptions andapprovals to complete the Offering; that the Company will complete theOffering on the terms disclosed, or at all; that the proceeds will beused for property exploration and for general working capital; thatthe Company will have the resources required to proceed with itsexploration plans; that the Company will not run into regulatory orother barriers in carrying out its business plans; that the insiderwill participate in the Offering, on the terms and conditions and inthe amount currently expected by management; and that the Company willbe able to rely on the exemption from the formal valuation andminority shareholder approval requirements on the basisanticipated.

Additionally, forward-lookinginformation involve a variety of known and unknown risks,uncertainties and other factors which may cause the actual plans,intentions, activities, results, performance or achievements of theCompany to be materially different from any future plans, intentions,activities, results, performance or achievements expressed or impliedby such forward-looking statements. Such risks include, withoutlimitation: that the Company will not receive the necessary exemptionsand approvals to complete the Offering; that the Company will notcomplete the Offering on the terms disclosed, or at all; that theCompany will be unable to use the proceeds for property explorationand for general working capital; that the Company may incurunanticipated costs; that the Company may not have the resourcesrequired to pursue its exploration plans; that the Company’soperations could be adversely affected by possible future governmentlegislation policies and controls or by changes in applicable laws andregulations; that the insider may not participate in the Offering onthe terms and conditions and in the amount currently expected bymanagement, or at all; and that the Company may not be able to rely onthe exemption from the formal valuation and minority shareholderapproval requirements on the basis currently expected. Suchforward-looking information represents management’s best judgmentbased on information currently available. No forward-looking statementcan be guaranteed and actual future results may vary materially.Accordingly, readers are advised not to place undue reliance onforward-looking statements or information. Neither the Company nor anyof its representatives make any representation or warranty, express orimplied, as to the accuracy, sufficiency or completeness of theinformation in this news release. Neither the Company nor any of itsrepresentatives shall have any liability whatsoever, under contract,tort, trust or otherwise, to you or any person resulting from the useof the information in this news release by you or any of yourrepresentatives or for omissions from the information in this newsrelease.

The forward-looking statementsherein speak only as of the date they were originally made. TheCompany has no intention and undertakes no obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.