Update ON Filing of Audited Financial Statements

NEWS RELEASE

June 29, 2020

UPDATE ON FILING OF AUDITED FINANCIAL STATEMENTS

Vancouver, B.C. – Cariboo Rose Resources Ltd. (TSX V:CRB )(“Cariboo Rose” or the “Company”)

announces that as a result of the COVID-19 pandemic, the Company has experienced delays associated with

the limited availability of our auditors and certain employees critical to the audit process. In response to

similar issues experienced by other busines ses, the Canadian Securities Administrators granted blanket

relief for all market participants, providing up to a 45-day extension for periodic filings normally required

to be made between June 2, 2020 and September 30, 2020.

In accordance with the blanket relief, the Company will delay the filing of its audited annual financial

statements for the year ended February 2 9, 2020, the management's discussion and analysis for the

corresponding period, and related management certifications of annual filings.

The company intends to file these documents prior to mid -August under the terms of the 45-day extension

announced by the B.C. Securities Commission under BCI 51-517, dated May 20, 2020.

Until such time as the filings are made, the Company’s management and other insiders are subject to a

trading blackout that reflects the principles contained in Section 9 of National Policy 11 -207 - Failure to

File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Other than as disclosed in the company's pres s releases, there have not been any material business

developments since the date on which the company filed its interim consolidated financial statements for

the three and nine month periods ended November 30, 2019.

For more information please visit Cariboo Rose’s website at www.cariboorose.com.

Cariboo Rose Resources Ltd.

David M Douglas, CPA, CA

CFO, Director

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 adequacy or accuracy of this news release.