May 27, 2025 – TheNewswire - Vancouver, Canada – Golden Cariboo Resources Ltd. (the “Company”) (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces that the most recent drill hole QGQ25-24 on the Halo zone at the Quesnelle Gold Quartz Mine property (the “Property”), 4 km (2.5 miles) from Hixon, BC, has intersected strong quartz-carbonate veining, including visible gold (“VG”) measuring 1.0 x 0.5 mm (for pictures see the Company’s website https://goldencariboo.com/latest-news). QGQ25-24 marks a 175 m (574 ft) step-out from previous drilling, confirming the Company's geological model of a strongly mineralized zone associated with the lithological contact between argillite and greenstones.
The footprint of all mineralization drilled at the Halo zone currently measures up to approximately 470 m by 290 m by 320 m (1540 ft by 950 ft by 1050 ft) and remains open along strike and towards depth, including approximately 620 m (2030 ft) of untested north-northwest strike towards the Pioneer limited past producer and 750m (2460 ft) of untested south-southeast strike towards the Main zone target at the past producing Quesnelle Quartz Mine. With its current step-out drill program, the Company is focusing on the strike expansion of the Halo zone mineralization.
Overall, the geological setting of the gold mineralization at the Company’s Quesnelle Gold Quartz Project shows strong similarities with the Spanish Mountain gold deposit, situated 120 km (75 miles) towards the southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered to belong to the same subclass of orogenic gold deposits as some of the world’s largest deposits, including, e.g. Muruntau, Uzbekistan (>80 Moz) and Bendigo, Australia (>20 Moz) (Klipfel 2005).
Golden Cariboo’s President and CEO, Frank Callaghan, stated, “Each new drill hole in our step-out program continues to validate the strength and accuracy of our geological model. The consistency of mineralization we are seeing, particularly along the contact between argillite and greenstones, is highly encouraging. With visible gold now identified in 12 out of 13 holes, the potential scale of this zone is becoming increasingly evident. What makes this even more exciting is the near-surface nature of the mineralization and the property’s close proximity to infrastructure. These advantages position us well for future development and underscore the exceptional opportunity we have at the Quesnelle Gold Quartz Mine property.”
The latest drill hole, QGQ25-24, was drilled as a 175 m (574 ft) step-out towards the north of previous drilling and was set up at an azimuth of 016° and inclination of -45° to target a strong soil geochemical (MMI) gold anomaly related to the inferred surface expression of the contact between upper argillite and greenstones. It was collared in the upper argillite unit and intersected the lithological contact into the upper greenstone domain at a depth of 140.43 m (460.7 ft). Similar to all previous drill holes that intersected this contact, a strong stockwork of quartz-carbonate veins, including visible gold, is developed in association with brittle shear zones on both sides of the lithological contact (Photos 1 & 2). QGQ25-24 was terminated within the mineralized zone at a depth of 173.50 m (569.2 ft), due to technical issues.
Geological 3D modelling of the recent drill results (Figures 1 & 2) shows a general moderately steep westerly to west-southwesterly dip of lithological units in the area of the Halo zone discovery. A unit mainly comprising carbonaceous argillites (upper argillite) forms the stratigraphically highest member of the lithologies drilled at the Halo zone. The upper argillite overlies a package of greenstones, divisible into three domains, including upper greenstones (intermediate to mafic tuffs and volcanic sediments), variolitic greenstones (mainly variolitic and pillowed mafic to intermediate flows), and lower greenstones (fine-grained to aphanitic intermediate to mafic flows and volcaniclastics). The lower boundary of the greenstone package is marked by a lower argillite unit.
Gold mineralization, associated with multi-directional quartz-carbonate veining, which is related to multiple brittle shear zones, has been intersected throughout the greenstone package and to a lesser degree in the upper argillite. A zone of particularly high grades occurs within the upper greenstone domain in close spatial association with the contact between the upper argillite and the greenstone package. For the first time, this zone was intersected in its entirety in the top of drill hole QGQ24-20, resulting in an intercept of 1.45 g/t Au and 16.05 g/t Ag over 137.17 m (450.0 ft), including 4.61 g/t Au and 86.26 g/t Ag over 23.20 m (76.1 ft) (February 25, 2025 News Release).
The recent drill holes, QGQ24-21, QGQ25-23, and QGQ25-24, all intersected a visually strong quartz-carbonate vein stockwork along the argillite to greenstone contact (assays pending), including several occurrences of visible gold-bearing veins (e.g. May 13, 2025 News Release). The observations made in these drill holes correlate very well with the aforementioned high-grade zone, which marks significant step-outs from previous drilling along strike towards the north-northwest, while simultaneously proving the down-dip potential (Figures 1 & 2). To date, 12 out of 13 drillholes intersecting this high-grade zone at the Halo target showed visible gold mineralization.
The technical information in this news release has been reviewed by Jean Pautler, an independent consultant commissioned by the Company. Jean Pautler is a Professional Geoscientist (P.Geo.) registered with Engineers and Geoscientists BC and a “Qualified Person” with respect to NI 43-101.
Photo 1: Quartz-carbonate stockwork hosting visible gold (1.0 x 0.5 mm) in intensely sericite-iron-carbonate-fuchsite altered andesite tuff (upper greenstone domain). Drill hole QGQ25-24 at 152.95 m (501.8 ft).
Photo 2: Example of intense quartz-carbonate vein stockwork at the contact between upper argillite and upper greenstone in QGQ25-24. The yellow box marks the location of Photo 1.
Figure 1: Reported gold intercepts in the Halo and North Hixon zones, plan view.
Figure 2: Cross-section through geological 3D model of the Halo zone. Lithological domains are shown as 3D-shaded silhouettes of their contact surfaces. Red dashed lines mark the inferred boundaries of the high-grade mineralization zone associated with the argillite-greenstone contact. Depth of field is 250 m (820 ft).
Figure 3: Location of the Halo Zone discovery and nearby infrastructure
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 bordered by Osisko Development (NSE:ODV/TSXV:ODV), partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favorable corridor adjacent to the Spanish and Eureka thrust faults over a 94,899 hectare (234,501 acre) area. Historically, over 101 placer gold creeks on the 90-kilometer (56 mile) 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 kilometers (2.5 miles) 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 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
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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 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 exploration 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 minority 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 possible future government legislation 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 place 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.
