VANCOUVER, BRITISH COLUMBIA - April 15, 2025 (NEWMEDIAWIRE) - Golden Cariboo Resources Ltd. (the "Company") (CSE:GCC) (OTC:GCCFF) (WKN:A402CQ) (FSE:3TZ) announces that the current drill hole QGQ24-21 on the Halo zone at the Quesnelle Gold Quartz property ("the Project"), intersected a zone of strong persistent gold mineralization including multiple occurrences of visible gold ("VG") starting from 257 m (843.2 ft) downhole. This makes the current drillhole the ninth consecutive hole with visible gold since the initial discovery of the Halo zone in July, 2024 (July 18, 2024 News Release).
Similar to mineralization intersected in previous drilling at Halo zone, the visible gold was found in a stockwork of quartz-carbonate-pyrite veins hosted in an intensely sericite and iron-carbonate altered greenstone package of intermediate to mafic volcanics (see pictures at https://goldencariboo.com/latest-news). QGQ24-21 drilled 257 m (843.2 ft) of carbonaceous argillites in the hanging wall before intersecting the greenstones. The mineralization, similar to that in the previous drill hole QGQ24-20, lies in close spatial relation with shear zones at the contact (February 25, 2025 News Release).
Drill hole QGQ24-21 was set up at an azimuth of 355 and inclination of -45 to intersect veins of several different directions and lithological contacts at favourable angles. It was started in December 2024 and now continues in April 2025, currently underway at 285.3 m (936 ft) without intersecting the lower boundary of the mineralized zone.
Golden Cariboo's President and CEO, Frank Callaghan, stated, "Building on the success of last year's exceptional discovery at our Quesnelle Gold Quartz Mine property, the whole crew couldn't wait to resume drilling in 2025. To kick off with yet another strike of visible gold is nothing short of thrilling. It's the perfect start into what we believe will be a standout season. We are looking forward to more fantastic intercepts as we keep expanding our Halo Zone discovery along strike and towards depth."
Photos 1 & 2: Example of visible gold bearing quartz-carbonate vein in drill hole QGQ24-21 at 266.3 m (873.7 ft) depth
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 Corp. and partly intertwined 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 94,889 hectare (234,501 acre) area. Historically, over 101 placer gold creeks on the 90 km (56 mile) trend from the Cariboo Hudson mine north to the Project have recorded production and successful placer mining continues to this day.
Golden Cariboo's Project is 4 km (2.5 miles) northeast of, and road accessible from, Hixon in central British Columbia. It 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
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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.
