Cariboo Grants Option on Koster Dam
Cariboo Grants Option on Koster Dam
Vancouver, BC, July 17, 2017 – Cariboo Rose Resourc es Ltd. (TSX-V: CRB ) (“Cariboo Rose”) is
pleased to announce that it has granted an option o n its 100% owned Koster Dam project located near
Gang Ranch, British Columbia, to a private company called Oakley Ventures Inc. (“Oakley”).
The Koster Dam project is a reconnaissance gold exploration initiative targeting gold-silver mineralization
similar to what occurs at the formerly producing Bl ackdome mine located approximately 18 kilometres to
the south. The Blackdome mine was a low sulphidatio n epithermal gold-silver deposit. It was in
production from 1986 to 1989 during which it produced 225,000 oz of gold and 547,000 oz of silver.
At Koster Dam, exploration initiated in 2012 and co ntinuing in 2013, 2014 and 2015 was predominantly
conventional silt sampling augmented with the preco ncentrating of those samples in a portable sluice b ox.
This work defined a well-focused anomalous target area. Conventional silt samples in the target area reach
632 ppb gold while samples preconcentrated in a portable sluice box reach 1,451 ppb gold. The next phase
of exploration will develop procedures to identify the source of these anomalous gold results in an ar ea
that is devoid of outcrop.
Oakley may earn an initial 50% interest in Koster D am by matching Cariboo Rose's prior expenses of
$110,495 within 12 months of the effective date. Oakley may thereafter, at its sole discretion, purchase the
remaining 50% interest in the project by paying $40 0,000 within 20 days of completing the initial opti on
or proceed with a joint venture interest of 50%.
Cariboo Rose is now focusing on its 100% owned Cana dian Creek gold project in the Yukon contiguous
to Western Copper and Gold Corp’s (TSX: WRN ) Casino porphyry copper-gold-molybdenum property on
the east and Goldcorp Inc.’s (TSX: G, NASDAQ: GG ) Coffee property on the north. Exploration is
currently underway at Canadian Creek and drill program scheduled to start in early August.
J.W. (Bill) Morton, P.Geo. is a qualified person wi thin the context of National Instrument 43-101, and has
read and takes responsibility for this news release.
J.W. Morton
Cariboo Rose Resources Ltd.
Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611
About Cariboo Rose Resources Limited
In addition to its 100% owned Canadian Creek proper ty Cariboo Rose owns interests in five mineral proj ects in
British Columbia three of which are 100% owned. Car iboo Rose also owns a strategic investment of 500,0 00 free
trading shares in Western Copper and Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the ad equacy or accuracy of this release.