UPDATE: Golden Cariboo Resources Ltd. (CSE: GCC) Commences 2025 Drill Program at the Quesnelle Gold Quartz Mine Property

Apr 8, 2025

Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) is announcing that its 2025 drill program is now underway at the Company’s flagship Quesnelle Gold Quartz Mine property (the ”Property”), located approximately 4 kilometers (2.5 miles) northeast of Hixon, central British Columbia, Canada.

Today’s commencement marks a significant operational milestone as drilling crews and equipment are fully mobilized to execute a comprehensive diamond drilling program designed to delineate and expand high-potential gold targets across the Property. Initially, the Company is completing surface drill hole QGQ24-21, currently the westernmost drill hole collar within the permit area, which is located 80 meters (262 feet) WSW of QGQ24-20, which encountered significant gold grades found, in part, to be associated with a major fault along a northwesterly striking contact between the mafic to intermediate volcanic host rocks (greenstones) and a black argillite unit. QGQ24-20 returned 137.17m (450.0ft) of 1.45g/t gold and 9.77g/t silver, including 4.29m (14.1ft) of 16.35g/t gold and 9.09g/t silver and including 2.0m (6.1ft) of 6.36g/t gold and 957.0g/t silver ( February 25, 2025 News Release ). Strong lithologic similarities have been noted between the top of hole QGQ24-20 and the deepest section drilled in QGQ24-21 so far. Assay results are pending for the top 220.2 meters (722.44 feet) of QGQ24-21.

“We are excited to launch our 2025 drill program and build on the encouraging results from previous exploration campaigns,” said J. Frank Callaghan, President & CEO of Golden Cariboo Resources. “Our program strategically targets extensions of established zones—such as the Halo and North Hixon areas—while also exploring new avenues identified through our integrated geological and geospatial analyses. This phase of exploration and development is pivotal in our ongoing mission to reveal the remarkable and yet-untapped potential of the Cariboo Gold District.”

The current drill program forms a core component of Golden Cariboo’s broader exploration strategy, which combines historical data with state-of-the-art surveying and mapping techniques. Surface drill holes are being collared to systematically test key targets where indications of higher-grade mineralization have been recently recorded. The Company anticipates that forthcoming assay results and real-time field assessments will guide the expansion of drilling activities into additional high-priority areas over this season.

The technical information in this news release has been approved by Jean Pautler, 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 bordered by Osisko Development (NSE : ODV/TSXV : ODV), partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favorable 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-kilometer (56 mile) 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 kilometers (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 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