Diamond Drilling and Airborne Geophysical Surveys Begin at Cowtrail

The most recent release dated May 13, 2026, announces the commencement of the 2026 field program at the Cowtrail Copper-Gold Porphyry Project. The program involves a helicopter-borne geophysical survey covering 27 square kilometers and 1,500 meters of diamond drilling. This follows previous announcements in April regarding the 2026 exploration plan and an option agreement extension with BRS Resources Ltd. The project is located near the operating Mount Polley Mine. Historical intercepts from 2023 and 2025 are cited as targets for this new program, specifically CT23-16 (108m @ 0.15% Cu) and CT25-23 (70m @ 0.20% Cu). The option agreement allows BRS to earn a 60% interest by meeting specific expenditure and cash payment milestones by December 2028.

The commencement of drilling is an expected operational milestone following the April 17, 2026 announcement of the 2026 program and the April 28, 2026 financing upsizing. There are no new assay results or discovery announcements in this release; it confirms execution rather than value creation. Given the recent dilutive private placement (up to $1M total raised in April at low prices), the market may view this as necessary capital deployment but not a catalyst for immediate price appreciation without assay data. The news is consistent with previous expectations and does not alter the fundamental risk profile regarding cash burn or exploration success probability. Therefore, the impact on stock price is expected to be minimal in the short term.

Cariboo Rose Resources Ltd. operates as a hybrid prospect generator in British Columbia. The company manages a portfolio of 100% owned projects and option/JV arrangements. * Cowtrail Project: A copper-gold porphyry project (4,717 hectares) contiguous with Vizsla Copper Corp.'s Woodjam project. It is the primary focus of current drilling activity. BRS Resources holds an option to earn 60% interest. * Lightning Strike Project: A 100% owned gold-silver project (4,193 hectares). Recent drilling in late 2025/early 2026 returned significant intercepts (e.g., 44.4m @ 0.77 g/t Au), which previously drove price momentum. * Other Assets: Includes Carruthers Pass, Pat, CHG Project, Coquigold, and Koster Dam projects.