VANCOUVER, BRITISH COLUMBIA - April 29, 2025 (NEWMEDIAWIRE) - Golden Cariboo Resources Ltd. (the "Company") (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) is announcing its plans to engage ALS Canada Ltd. to commence an orientation study utilizing innovative Chrysos PhotonAssay(TM) technology ("photon assay") to analyze gold content in drill core and rock samples from its Quesnelle Gold Quartz Mine property (the "Property"), located approximately 4 kilometers (2.5 miles) northeast of Hixon, central British Columbia, Canada. This study is designed to evaluate the potential for better addressing the nugget effect, one of the most persistent challenges in precious metals exploration, while potentially improving assay turnaround times.
The non-destructive photon assay procedure employs high-energy photons (X-rays) to interact with the atomic structure of the samples, resulting in characteristic gamma emissions from gold atoms. This process allows for the quick analysis of larger volumes (up to 500 g) of sample material per assay. Compared to traditional fire assay methods (30 50 g sample material) it, therefore, boasts a huge advantage in addressing the nuggety nature typical for gold mineralization. The nugget effect is usually found to be particularly strong when coarse, visible gold is present, as encountered in almost all of the recent drill holes at the Company's Halo zone target. By analyzing a bigger and therefore more representative sample, the photon assay assures that both finely dispersed gold and coarse gold particles are accurately quantified. Photon assay is an established method widely used in multiple gold exploration and mining projects around the world with excellent results.
The orientation study will initially be conducted on core samples, which have already been analyzed by traditional fire assay for a comparison of both methods. If successful, photon assay may replace fire assay as the main method for gold quantification in all future core and rock samples taken at the Quesnelle Gold Quartz Mine property. Company geologists will include a selection of the previous drill holes in the study along with the most recent drill hole QGQ24-21. Assay results are anticipated to be received and reported in the coming weeks.
Golden Cariboo's President and CEO, Frank Callaghan, states, "This innovative technology not only optimizes resource evaluation but also strengthens the transparency and reliability of assay data, which is vital for informed decision making in our exploration program and possible future resource development."
The technical information in this news release has been approved 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 bordered by Osisko Development, 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
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 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.
