Golden Cariboo Resources Ltd. Increases Strike Length of Known Gold Mineralization by 1 km Through Outcrop Sampling

A total of 16 rock samples were collected from outcrops at the Halo zone, North Hixon zone and Pioneer area. In the Halo zone, a newly uncovered outcrop 101 m to the northeast from the nearest drill collar contained grab samples of 8.47 g/t Au, 6.59 g/t Au and 2.39 g/t Au in altered andesite tuff with quartz-carbonate veins. exposure similarly containing altered andesite tuff with quartz-carbonate veins near the Pioneer showing, 1 km to the northwest, returned highlights of 1.13 g/t Au and 0.40 g/t Au (see Figure 3 enclosed for sample locations). https://goldencariboo.com

Golden Cariboo's President and CEO Frank Callaghan stated "Although there is a lot of glacial cover on this project, our geologists still managed to find new gold-bearing outcrops in areas of great significance. We have now expanded the surface footprint of gold mineralization at the Halo zone to the northeast and increased the strike length of our gold trend. We're in a very large gold system that is being demonstrated by multiple, varied work programs".

Figure 1 (left): New outcrop exposure of altered andesite tuff with quartz veins from the Pioneer Area. Figure 2 (right): Oxidized and bleached altered andesitic volcaniclastic with quartz vein from outcrop, returned 1.13 g/t Au.

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Figure 3: Map of grab samples from the Halo zone and northern extensions.

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

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www.goldencariboo.com

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