Golden Cariboo Resources Ltd. (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces it has intersected 0.90 g/t gold over 88.39m (289.99 ft), including 1.77 g/t gold over 30.19m (99.05 ft) from 21.61m (70.90 ft) and 6.09 g/t gold over 6.17m (20.24 ft), within a broader interval of 0.53 g/t gold over 213.06m (699.02 ft) from near surface in drill hole QGQ26-29. Additional drill intercepts include 0.97 g/t gold over 6.35m (20.83 ft) from 567.00m (1860.24 ft) and 1.11 g/t gold over 2.79m (9.15 ft) from 660.20m (2166.01 ft). Drill hole QGQ26-29 ended in a new mineralized zone at the end of hole, with drilling stopping due to technical difficulties.

*Interval widths reported at this point have insufficient data to reliably estimate true width.

^Gold grades have been capped at 10 g/t (“grams per tonne”)

President and CEO Frank Callaghan states: “Drill hole QGQ26-29 represents a significant intercept from near surface with a new mineralized zone at depth, and illustrates the continuity of mineralization. This is the final drill hole that will be included in the upcoming maiden resource. We have been consistently hitting mineralization in our drill holes, allowing us to quickly progress this project to the resource stage. The topography of the Halo zone is flat and the mineralization consistently starts from surface, making it amenable for potential open pit extraction. The Halo zone is located approximately 5 kilometers northeast from the community of Hixon and is only a 30 minute drive on logging roads from Highway 97 in an established mining jurisdiction. This combination of excellent infrastructure, proven jurisdiction, and favorable geology makes this a very rare opportunity.”

QA/QC samples, including blanks, standards and coarse reject duplicates, constitute 5% of the total number of samples. The reported drilling has all been NQ core, which has been logged then split in half before being sent to the laboratory, MSALABS (“MSA”), in Prince George for analysis. Samples were crushed by MSA to >70% passing below 2 mm and split using a riffle splitter, and 250g splits were pulverized to >85% passing below 75 microns. An aqua regia digest with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish was used for 35-element analysis on 0.5g aliquots. Additionally, PhotonAssay™ (photon) analysis was conducted for gold and silver. Photon analysis uses a larger size (250-500g), compared to 30 or 50g in a fire assay, providing a more thorough assessment of gold distribution in coarse gold settings, characteristic of the Halo zone, where nugget effects can impact conventional assay results. MSA is accredited for the procedures performed and entirely independent from the Company.

The technical information in this news release has been reviewed and approved by Jean Pautler, an independent consultant commissioned by the Company. Jean Pautler is a Professional Geoscientist (P.Geo.) registered with the Association of Professional Engineers and Geoscientists of the Province of BC (“APEGBC”) and licensed by Engineers and Geoscientists BC, and is 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 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-kilometer (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 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 and developed over a footprint of about 150m x 150m (< 6 acres) at the Main zone straddling Hixon Creek. Overall, 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 km (75 miles) towards the southeast along the same geological trend. As a sediment-hosted vein (SHV) 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.