VANCOUVER, BRITISH COLUMBIA - February 18, 2025 (NEWMEDIAWIRE) - Golden Cariboo Resources Ltd. (the "Company") (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) wishes to announce the exploration plan for the 2025 field season at the Company's Quesnelle Gold Quartz Mine Property. The primary focus of the program is to build upon the Company's drilling success from the previous year, which resulted in the discovery of the Halo and North Hixon zones (see News Release dated January 29, 2024), and to aggressively advance the newly staked 91,085 ha (225,076 acre) claim package across the northern Cariboo Gold District (an additional 96 ha was staked by the Company on February 11, 2025). See Figures 1 to 3 enclosed and on the Company website www.goldencariboo.com.
The Halo zone, as currently defined by all drill holes with assays released, contains a strike length of approximately 210 m with a 292 m width along a northwest-trend (see Figure 1 enclosed). The northwestern extent of the zone has not been defined and remains open, including 574 m of untested strike between the Pioneer past producer and the end of hole QGQ24-20 (Figure 2 enclosed). The initial focus of the drill program will be to continue northwest step outs along this trend, and to target for further high-grade domains in the Halo zone, such as that encountered in QGQ24-13 which returned 136.51 m of 1.77 g/t gold.
Diamond drilling beyond the Halo zone, along the several kilometers of untested strike on multiple parallel trends, remains of high priority to the Company. This is to begin at the southeastern extension of the North Hixon zone, which includes 1.2 km of untested strike towards the Cayenne showing (Figure 2 enclosed). Additionally, the historic Quesnelle Quartz Mine (Main zone) which contains an approximately 150 m by 150 m footprint of underground workings, exists on a separate parallel trend to the North Hixon zone. Drill testing the northwest or southeast extensions to the mine has never been undertaken in the Property's history, and is a high priority target for the Company.
Fieldwork will primarily be focused on the newly staked 91,085 ha claim group, with an objective to establish northwest continuity of major gold systems in the Cariboo Gold District. The claims encompass an area with a similar geologic setting to that of the Quesnelle Gold Quartz Mine Property, the 5.3 Moz Cariboo Gold Project, and the 4.7 Moz Spanish Mountain Deposit (see News Release dated December 17, 2024 and Figure 3 enclosed). Field crews are anticipated to mobilize in the late Spring for initial prospecting and mapping activities, while an airborne LiDAR survey is planned to support the mapping activities.
Golden Cariboo's President and CEO, Frank Callaghan, stated "The 2024 exploration program was nothing short of spectacular, centred around a major gold discovery that re-defined the Cariboo Gold District as we know it. Looking to 2025, our focus is set not only on growing the discovery, but pushing beyond that to prove that a major gold camp exists at Hixon. Even further to this, the field campaign will unlock the potential for major gold systems across the northern Cariboo where previously unimagined."
Figure 1: Reported drill intercepts in the Halo and North Hixon zones, with the immediate priority area for drilling to the northwest from drill hole QGQ24-20.
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 bordered by Osisko Development Corp. and partly intertwined 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 95,218 hectare (235,289 acre) area. 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
Neither the "CSE" Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements:
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general working capital; the Company's exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for property exploration and for general working capital; that the Company will have the resources required to proceed with its exploration plans; that the Company will not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis anticipated.
Additionally, forward-looking information 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 the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not receive the necessary exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not have the resources required to pursue its exploration plans; that the Company's operations could be adversely affected by possible future government legislation policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority shareholder approval requirements on the basis currently expected. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
The forward-looking statements herein speak only as of the date they were originally made. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
