GCC:CC - Intercept of 0.58 g/tonne Gold Over 61.40m (201 feet) on North Hixon Zone with Additional Gold Mineralization Above and Below at the Quesnelle Gold Quartz Mine Property

(TheNewswire)

June 11, 2024 – TheNewswire - Vancouver, Canada – Golden Cariboo ResourcesLtd. (the “Company”) (CSE:GCC) (OTC:GCCFF)(WKN:A042CQ) (FSE:3TZ) is pleased to announceit has intercepted gold mineralization in QGQ24-08 QGQ24-07 andQGQ24-05 at both the North Hixon and the Main zones on its Quesnelle Gold Quartz MineProperty (the “Property”) near Hixon,British Columbia.

Initial results from the first 265.34m (871 ft) of QGQ24-08 (final depth of 712.01m or 2,336 ft)successfully intersected the up-dip extent of mineralization whichtested the Company’s 2019 discovery of metasedimentary-hostedmineralization in float at the North Hixon zone. QGQ22-01 yielded 0.87grams per tonne (“g/t”) gold (0.57g/t cut) over 32.0m (105 ft) , open down hole (See May 7, 2024 Press Release). QGQ24-08has returned 0.58 g/t gold over 61.40m (201.40 ft) with assaysvariable through the zone and reflect fault, replacement and veinstyles of mineralization. True width intercepts are not definitelyknown since the orientation and controls are not fully understood dueto the scarcity of outcrop on the Property. There is an associationwith carbonate alteration which is reflected in assays. Significantgold results are tabulated below, with complete results pending.Additional narrow zones of gold mineralization were alsointersected.

QGQ22-08 Results

True widths are not yet known.

Holes QGQ24-05 to -07 were drilled on theMain zone. QGQ24-05 targeted a suspected F2 fold closure to thenorthwest of the intercept in QGQ23-04 which yielded 1.35 g/t Au over 41.0m (134.5 ft). QGQ24-05,drilled to 321.60m, yielded a number of greater than 1 g/t goldintercepts over narrow down hole intervals (0.4-1.4 g/t gold) and isthought to have been drilled completely in the hanging wall of themineralized zone. QGQ24-06 was terminated at a depth of 172.20 with nosignificant results due to difficulty in recovering the fault hostedmineralized zone, similar to the top of the zone in QGQ23-04, and holeQGQ24-07 was lost at 56.65m.

3D geological modelling is in progress and structuralgeologist, Dr. Sarah E. Palmer, PhD, has been on site to aid in theanalysis. Ms. Palmer identified three phases of folding which isconsistent with the suspected model for mineralization on theProperty, which is epizonal orogenic, also recently described ascontinental margin sediment-hosted gold and previously known asturbidite-hosted gold and saddle reefs. Examples of such depositsinclude the Cariboo Gold deposit in Wells-Barkerville, BritishColumbia, the Spanish Mountain property near Likely, Nova Scotia’sMeguma district, Newfoundland’s Queensway Project, Australia’sBendigo district, and Uzbekistan’s large Muruntau deposit. Thedeposits discussed above are not necessarily indicative of theQuesnelle Gold Quartz Mine Property.

The technical information in this news release has beenreviewed by Jean Pautler, P.Geo., a qualified person with respect toNI 43-101.

About Golden Cariboo Resources Ltd.

Golden Cariboo Resources Ltd. is rediscovering theCariboo Gold Rush by proceeding with highly targeted drilling andtrenching programs on its Quesnelle Gold Quartz Mine property which is almost fully encircled on 3 of 4 sides by OsiskoDevelopment (NSE-ODV/TSXV-ODV). Historically, over 101 placer gold creeks on the 90 km trend from the CaribooHudson mine north to the Quesnelle Gold Quartz Mine property haverecorded production and successful placer mining continues to thisday.

Golden Cariboo’s Quesnelle Gold Quartz Mine Propertyis 4 km northeast of, and road accessible from, Hixon in centralBritish Columbia. The Property includes the Quesnelle Quartz gold-silver deposit, which wasdiscovered in 1865 in conjunction with placer mining activities. HixonCreek, which dissects the old workings, is a placer creek which hasseen 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:  604-551-7685

Scott Young, CorporateDevelopment

Tel: 705-888-2756

VISIT OUR WEBSITE FOR MOREDETAILS

www.goldencariboo.com

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Neither the “CSE” Canadian Securities Exchange norits Regulation Service Provider (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

Cautionary Statements:

This news release containsstatements which constitute “forward-looking information” withinthe meaning of applicable securities laws, including statementsregarding the plans, intentions, beliefs and current expectations ofthe Company with respect to future business activities and plans ofthe Company. Forward-looking information is often identified by thewords “may”, “would”, “could”, “should”, “will”,“intend”, “plan”, “anticipate”, “believe”,“estimate”, “expect” or similar expressions and includesinformation regarding; the expectation that the Company will receiveall necessary exemptions and approvals to complete the Offering; theexpectation that the Company will complete the Offering on the termsdisclosed, or at all; the expectation that the proceeds will be usedfor property exploration and for general working capital; theCompany’s exploration plans with respect to its Quesnelle GoldQuartz Mine property; and the anticipated participation of the insiderin the Offering.

Such forward-looking statements arebased on a number of assumptions of management, including, withoutlimitation, that the Company will receive all necessary exemptions andapprovals to complete the Offering; that the Company will complete theOffering on the terms disclosed, or at all; that the proceeds will beused for property exploration and for general working capital; thatthe Company will have the resources required to proceed with itsexploration plans; that the Company will not run into regulatory orother barriers in carrying out its business plans; that the insiderwill participate in the Offering, on the terms and conditions and inthe amount currently expected by management; and that the Company willbe able to rely on the exemption from the formal valuation andminority shareholder approval requirements on the basisanticipated.

Additionally, forward-lookinginformation 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 theCompany to be materially different from any future plans, intentions,activities, results, performance or achievements expressed or impliedby such forward-looking statements. Such risks include, withoutlimitation: that the Company will not receive the necessary exemptionsand approvals to complete the Offering; that the Company will notcomplete the Offering on the terms disclosed, or at all; that theCompany will be unable to use the proceeds for property explorationand for general working capital; that the Company may incurunanticipated costs; that the Company may not have the resourcesrequired to pursue its exploration plans; that the Company’soperations could be adversely affected by possible future governmentlegislation policies and controls or by changes in applicable laws andregulations; that the insider may not participate in the Offering onthe terms and conditions and in the amount currently expected bymanagement, or at all; and that the Company may not be able to rely onthe exemption from the formal valuation and minority shareholderapproval requirements on the basis currently expected. Suchforward-looking information represents management’s best judgmentbased on information currently available. No forward-looking statementcan be guaranteed and actual future results may vary materially.Accordingly, readers are advised not to place undue reliance onforward-looking statements or information. Neither the Company nor anyof its representatives make any representation or warranty, express orimplied, as to the accuracy, sufficiency or completeness of theinformation in this news release. Neither the Company nor any of itsrepresentatives shall have any liability whatsoever, under contract,tort, trust or otherwise, to you or any person resulting from the useof the information in this news release by you or any of yourrepresentatives or for omissions from the information in this newsrelease.

The forward-looking statementsherein speak only as of the date they were originally made. TheCompany has no intention and undertakes no obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.

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