June 21, 2023
Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (TSXV: GCC | OTC: GCCFF | WKN: A0RLEP) is pleased to report that the infill sampling from two of three surface drill holes from 2022 has been completed, and 253 drill core samples including 13 QA/QC samples have been shipped to ALS Minerals in North Vancouver, BC.
Drill hole QGQ22-01, which targeted mineralization at the North Hixon zone, had 205 infill samples over a total of 200.15m to further define several gold intercepts including some of which were previously open in both directions as tabulated in the Company’s News Release dated April 25, 2023. Drill hole QGQ22-02 targeted the Koch Vein as well as the greenstone-phyllite contact; and 35 samples over a total of 36.55m complete the entire infill sampling program of 2022. Sampling of drill holes QGQ22-03 and logging of QGQ23-01, both drilled in the Main zone, are in progress.
Golden Cariboo Director, Andrew H. Rees commented “Golden Cariboo’s exploration team is encouraged that initial select assays received from the company’s 2022 drill program necessitated that the Company infill sample two of three holes drilled. Our 2023 drill program is underway and results will be released as they become available.”
The technical information in this news release has been reviewed 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 high-grade targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine project which is almost fully encircled on 3 of 4 sides by Osisko Development (NYSE: 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 have recorded production in excess of 2.6 million ounces of gold up to 1933 (Hall, 1986) 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 Property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 in conjunction with placer mining activities and produced 2,048 tonnes grading 3.14 g/t Au and 4.18 g/t Ag in 1932 and 1939, with an additional 217 tonnes of unknown grade reported in 1878 (BC Minfile, 2021). Hixon Creek, which dissects the Hixon Gold claims, is a placer creek which has seen limited, small-scale placer production since the mid 1860’s. From Ministry of Mines Reports prior to 1945, estimates of up to $2,000,000 worth of placer gold was mined from Hixon Creek.
GOLDEN CARIBOO RESOURCES LTD
“Andrew H. Rees”
Andrew H. Rees, Director
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Golden Cariboo Resources Ltd. which may cause actual results, performance or achievements of Golden Cariboo Resources Ltd. to be materially different from the results, performance or expectation implied by these forward-looking statements. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.