Golden Cariboo closes $710,800 tranche one of placement
2026-07-16 04:41 ET – News Release
Mr. J. Frank Callaghan reports
GOLDEN CARIBOO RESOURCES CLOSES TRANCHE ONE OF PRIVATE PLACEMENT
Golden Cariboo Resources Ltd. has closed tranche one of the non-brokered private placement announced June 17, 2026.
The company has raised gross proceeds of $710,800 through the issue of 8,885,000 units at a price of eight cents per unit. Each unit consists 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, 15 cents in year two, 18 cents in year three, 21 cents in year four or 25 cents in year five. The private placement remains open.
All securities from the private placement will be subject to a four-month-and-a-day hold period. In connection with the private placement, certain eligible persons will be paid commissions in accordance with the policies of the Canadian Securities Exchange. Commission for tranche one is $9,984 and 124,800 finder warrants exercisable for a period of five years from the closing date at exercise prices as follows: 12 cents in year one, 15 cents in year two, 18 cents in year three, 21 cents in year four or 25 cents in year five. The proceeds from the private placement will be used for general working capital and continued property exploration.
Insider participation of $330,000 in this tranche constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider exceeds 25 per cent of the company’s market capitalization.
About Golden Cariboo Resources Ltd.
Golden Cariboo 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 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 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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