Golden Cariboo Acquires District Lot Adjacent to the Historic Quesnelle Quartz Mine
GOLDEN CARIBOO RESOURCES LTD.
1100 - 1111 MELVILLE ST
VANCOUVER, B.C. CANADA V6E 3V6
TELEPHONE: 604-669-6463
GOLDENCARIBOO.com
CSE Stock Symbol GCC
Golden Cariboo Acquires District Lot Adjacent to the Historic Quesnelle Quartz Mine
November 12, 2024
Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF)
(WKN:A402CQ) (FSE:3TZ) wishes to announce the acquisition of the Washburn Lateral D istrict Lot on
the Company’s mineral claims. The Washburn Lateral is a 20.0 ha claim immediately northeast from the
historic Quesnelle Quartz Mine (see Figures 1 and 2 enclosed) and contains the undersurface mineral
rights to the claim area. The collar for the discovery hole QGQ24 -08 in the North Hixon zone returning
0.29 g/t Au over 263.10 m ( see Company news release dated June 18 2024 ) lies approximately 43 m
northwest of the boundary of the Washburn Lateral.
The District Lot was originally located in 1913 and once owned by the Quesnelle Quartz Mining Company
Ltd. Despite its proximity to the historic Quesnelle Quartz Mine, the lot has seen very limited exploration
in its history and has remained virtually untested by drilling. A possible lone drill hole on the lot appears
to have been drilled in 1972 on the southern corner and totaled 91.44 m, intersecting younger, post
mineral cover rocks (see Figure 2).
Golden Cariboo’s President and CEO Frank Callaghan stated: “ Acquiring the Washburn Lateral is an
important milestone for the Company, providing us with a key parcel of land within our multi-kilometer
gold trend on our Property. With this District Lot now in hand, the Company is able to test our gold trend
to the southeast from our discovery made in the North Hixon zone earlier this year.”
Figure 1: Historic map (1933) of District Lots and gold mineralized trends near the Washburn Lateral
(top centre, bolded) and the Quesnelle Quartz Mine
Figure 2: Map containing the Washburn L ateral and Property drill traces with previously reported gold
intervals
The Washburn Lateral District Lot is being acquired for a cash payment of €10,000EUR and 200,000
Company shares at a price of C$0.20, in a sales agreement dated October 18, 2024, subject to approval
by the Canadian Securities Exchange.
The technical information in this news release has been reviewed by Jean Pautler , 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
VISIT OUR WEBSITE FOR MORE DETAILS
www.goldencariboo.com
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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”, “beli eve”, “estimate”, “expect” or similar expressions
and includes information regarding; the expectation that the Company will receive all necessary exemptions and approvals to complete the Offering; the expectation
that the Company will complete the Offering on the terms disclosed, or at all; the expectation that the proceeds will be used for property exploration and for general
working capital; the Company’s exploration plans with respect to its Quesnelle Gold Quartz Mine property; and the anticipated participation of the insider in the
Offering.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will receive all necessary
exemptions and approvals to complete the Offering; that the Company will complete the Offering on the terms disclosed, or at all; that the proceeds will be used for
property exploration and for general working capital; that the Company will have the resources required to proceed with its e xploration plans; that the Company will
not run into regulatory or other barriers in carrying out its business plans; that the insider will participate in the Offering, on the terms and conditions and in the amount
currently expected by management; and that the Company will be able to rely on the exemption from the formal valuation and m inority shareholder approval
requirements on the basis anticipated.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions,
activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward- looking statements. Such risks include, without limitation: that the Company will not receive the necessary
exemptions and approvals to complete the Offering; that the Company will not complete the Offering on the terms disclosed, or at all; that the Company will be
unable to use the proceeds for property exploration and for general working capital; that the Company may incur unanticipated costs; that the Company may not
have the resources required to pursue its exploration plans; that the Company’s operations could be adversely affected by pos sible future government le gislation
policies and controls or by changes in applicable laws and regulations; that the insider may not participate in the Offering on the terms and conditions and in the
amount currently expected by management, or at all; and that the Company may not be able to rely on the exemption from the formal valuation and minority
shareholder approval requirements on the basis currently expected. Such forward-looking information represents management’s best judgment based on information
currently available. No forward -looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to pl ace
undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or
implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any
liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your
representatives or for omissions from the information in this news release.
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.