Golden Cariboo Identifies Mineralization 600m below Surface of the Halo Zone

• Date: April 21, 2026.
• Headline: Golden Cariboo Identifies Mineralization 600m below Surface of the Halo Zone.
• Core Announcement: Drill hole QGQ25-29 (also referred to as QGQ26-29) reached approximately 660m depth, identifying mineralization roughly 600m vertically below the initial discovery trench.
• Geology: Andesitic tuff with moderate sericite-silica alteration; quartz-carbonate veinlets (3–5%, locally up to 12%); ~2% disseminated pyrite.
• Status: Assay results for this specific hole are pending ("expected within the coming week"). Results for QGQ25-28 are also expected shortly.
• MRE Progress: The Mineral Resource Estimate is in progress, incorporating this drill hole, 28 other NQ-sized holes, and historical data.
• Context: This follows a series of drilling updates since January 2026 targeting the Halo zone and northern extensions.

• Positive Validation: Confirming mineralization at 600m depth is a significant technical milestone for the Quesnelle project, suggesting vertical continuity beyond the near-surface intercepts reported in March (e.g., 70m @ 0.89 g/t Au). This supports the potential for a larger resource volume in the upcoming MRE.
• Lack of Grade Data: Unlike previous releases (March 10, Feb 3) which provided specific gold grades and widths, this release confirms presence but not quality. Without assay numbers, the economic impact remains theoretical until results are released.
• Routine Nature: The company announced a 7,500m drill program in January 2026. This update is consistent with that plan. It does not represent an unexpected discovery outside of the exploration model but rather confirms the model's depth potential.
• Capital Context: The news follows closely on the heels of an oversubscribed private placement (April 10, 2026) at $0.08/share. The current trading price ($0.09) is slightly above this financing level, suggesting the market views the capital raise as sufficient to fund this progress without immediate distress.
• Risk Mitigation: The confirmation of mineralization at depth reduces the risk that the deposit is a shallow-only system, which would limit long-term value. However, the lack of high-grade numbers keeps it from being "Material - Positive" immediately.

• Company: Golden Cariboo Resources Ltd. is an exploration-stage junior mining company focused on gold assets in British Columbia, Canada.
• Flagship Project: Quesnelle Gold Quartz Mine Property. Located ~4km northeast of Hixon, BC.
• Geology: Historic quartz gold-silver deposit discovered in 1865. The property sits within a corridor rich in placer gold creeks and is adjacent to Osisko Development's Cariboo Gold Project.
• Current Focus: Defining the "Halo Zone" and extending strike length from ~600m to ~2km along the black argillite-greenstone contact.
• Land Package: Approximately 94,899 hectares (234,501 acres), with recent applications to add another 1,283.59 ha.