Golden Cariboo 5-Year Exploration Permit Approved
GOLDEN CARIBOO RESOURCES LTD.
804 –750 WEST PENDER STREET
VANCOUVER, B.C. CANADA V6C 2T7
TELEPHONE: 604-682-2928
FAX: 604-685-6905
GOLDENCARIBOO.com
CSE Stock Symbol GCC
Golden Cariboo 5-Year Exploration Permit Approved
February 7, 2024
Vancouver, Canada –Golden Cariboo Resources Ltd. (the “ Company”) (CSE -GCC, OTC-GCCFF,
WKN-A0RLEP) announces its Notice of Work application to expand mineral exploration activities at the
Company’s 100% owned Quesnelle Gold Quartz Mine Project (“QGQ Project”) near Hixon, British
Columbia has been approved.
The Company’s mineral exploration permit has been authorized for an additional five years. The
exploration team will first target the newly discovered replacement mineralization and high-grade gold
bearing veins between and adjacent to the Main zone and th e new discovery of the Halo zone ( See
News Release dated May 18, 2023 ), which is open along strike and at depth. The approved
permit includes up to 270 surface diamond drill holes on 54 drill pads as well as up to 5.7 km of trenching,
7.86 km of trail construction and 10 line km of IP geophysical surveying. Additional exploration activities
may include soil sampling, self -potential geophysica l surveying, bedrock mapping and regional
prospecting activities.
Company President and CEO, Mr. J. Frank Callaghan commented “We’re excited to advance an
extensive multi-phase exploration program at the Company’s QGQ Project. The Company acquired the
project due to its historic production, presence of a greenstone contact and its potential to host similar
mineralization to the Bonanza Ledge Mine, which our team originally discovered and put into production
at Osisko Development’s Cariboo Gold Project. After Golden Cariboo’s team put the Bonanza Ledge
Mine into production and further developed the Cariboo Gold Project, it was acquired by Osisko
Royalties for $330 million and is now owned and operated by Osisko Development. We f eel that there
is a similar opportunity to repeat our achievements at the QGQ Project and fundamentally believe that
you make a mine, you don’t find one.”
About Golden Cariboo Resources Ltd.
Golden Cariboo Resources Ltd. is rediscovering the Cariboo Gold Rush by proceeding with high-grade
targeted drilling and trenching programs on its Quesnelle Gold Quartz Mine Project 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
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 property includes the Quesnelle Quartz gold-silver deposit, which
was discovered in 1865 in conjunction with placer mining activities . Hixon Creek, which dissects the
Quesnelle Gold Quartz Mine property, is a placer creek which has seen small -scale placer production
since the mid 1860's.
GOLDEN CARIBOO RESOURCES LTD.
“J. Frank Callaghan”
J. Frank Callaghan, President & CEO
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 regardin g: the number of Shares outstanding
following the Consolidation; the effect of the Consolidation on the market for the Shares; and the treatment of fractional sh ares in the
Consolidation.
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.