Golden Cariboo Resources Ltd. (CSE: GCC) Stakes 90,989 ha (224,052 acres) of Mineral Claims in the Cariboo Gold District

Dec 17, 2024

Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces today the staking of 90,989 ha (224,052 acres) of contiguous mineral claims to the Company’s Quesnelle Gold Quartz Mine Property (the “Project”) across the northern region of the Cariboo Gold District (see Figure 1 enclosed and on the Company website at www.goldencariboo.com ), bringing a new total of 95,122 ha (235,264 acres) held by the Company, and now making it the third largest claim holder in the Cariboo Gold District. The new mineral claims encompass an area with a similar geological setting to that of the Project (Figure 1 enclosed), as well as having a history of placer gold production and limited modern exploration for lode gold.

The potential for significant orogenic gold systems in the northern region of the Cariboo Gold District was identified by the recent discovery by the Company of the Halo zone, from which 1.77 g/t gold over 136.51 m was intersected in diamond drill hole QGQ24-13 ( see News Release dated October 1, 2024 ). Following the discovery, the Company staked a geological belt encircling a regional-scale intrusion known as the Naver pluton. This belt contains key geological criteria encountered on the Project, and at major gold deposits in the Cariboo Gold District, including:

presence of the Nicola Group (Quesnel terrane), which contains the host rock formations to the Project and several others in the Cariboo Gold District, including the 4.7 Moz Spanish Mountain Deposit*.
the Snowshoe Group (Barkerville subterrane), which contains the host rock formations to the 5.3 Moz Cariboo Gold Project currently under construction by Osisko Development Corp. (TSXV: ODV)**
major thrust faults on the terrane boundary between Quesnel terrane and the Barkerville subterrane, namely the Eureka and Spanish thrusts, which are the inferred deep-seated crustal faults that produced orogenic gold systems across the Cariboo Gold District.
presence of placer gold occurrences situated at the confluence of the above faults

Golden Cariboo’s President and CEO, Frank Callaghan, stated, “The first thing we did after making the Bonanza Ledge discovery in the Wells-Barkerville camp nearly 25 years ago was to stake most of the entire belt surrounding it. It is hard to fathom that the opportunity has presented itself to do it over again this past fall. Following our new discovery, which redefined the gold potential this far north in the Cariboo, we secured over 900 square kilometres of prospective ground over a parallel belt to our discovery and our Project. We look forward to bringing our exploration expertise to unlock its potential as we enter into a new era for Golden Cariboo.”

Dr. Sarah Palmer, P. Geo., Consulting structural geologist for the Company, commented “The newly staked ground contains the key ingredients for a productive mineral system, highlighted by deep-seated structures and receptive host rocks, which come together right next door to the Quesnelle Gold Quartz Mine property. That, along with placer gold surface indicators, provides a strong technical framework for an underexplored geological belt.”

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Figure 1: Map of the Cariboo Gold District displaying mineral titles, gold showings and major projects, select Thrust Fault traces***, and the newly staked claim area by the Company.

*See Spanish Mountain Gold Ltd. News Release dated May 11, 2021

**See Osisko Development Corp. News Release dated January 3, 2023

***Thrust Fault traces have been compiled from BCGS OF2017-8, from Thomas et al. 2011 (CJES), from Logan 2008 (BCGS) and from Panteleyev et al. 1996 (BCGS).

The technical information in this news release has been reviewed by Dr. Sarah Palmer, P.Geo., a qualified person with respect to NI 43-101.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with highly targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by Osisko Development (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine property have recorded production and successful placer mining continues to this day.

Golden Cariboo’s Quesnelle Gold Quartz Mine property is 4 km northeast of, and road accessible from, Hixon in central British Columbia. The Project includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities. Hixon Creek, which dissects the old workings, is a placer creek which has seen 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: 604-669-6463