Financing, Timelines, and Exit Vision

Frank Callaghan, President and CEO of Golden Cariboo Resources Ltd.  (CSE:GCC) (OTC:GCCFF), joins me for an exploration update on the first 28 drill holes completed, and the 29th hole ready to be drilled imminently. Stepout drill has been extending the mineralization and strike length beyond the Halo Zone, located at their flagship Quesnelle Gold Quartz Mine, in the Cariboo Mining District of British Columbia.  The immediate workstreams are to compile all this drilling data, in combination with some historic drill holes, into an upcoming Maiden Resource Estimate, targeted to come out later in the month of May.

We start off having Frank outline the broad bulk-tonnage style of mineralization coming back from the prior assays returned, when stepping out from the Halo Zone; and why these large disseminated gold systems can become some of the largest producing gold mines.   This large project footprint and continuity of the broad intercepts of mineralization is what will allow the Company to put out the maiden resource estimate in about a month’s time.

On March 25, 2026 Golden Cariboo Resources announced that drill hole QGQ25-28 was completed on March 19, 2026 to a total length of 754.69 m (2,476 ft), ending in mineralization approximately 12 m (39.37 ft) from Osisko Development Corp.’s claim boundary. The end of drill hole QGQ25-28 is located approximately 283 m (928.48 ft) beyond the end of drill hole QGQ25-25, which also ended in mineralization.

Next we discuss how all 28 holes drilled to date have hit gold mineralization and how their geologists have really come to a good understanding of the mineralization and have vectored in on exploring for gold at the greenstone belt contact zone at their Quesnelle Gold Quartz Mine.   Much of the drilling has been testing the approximately 2-3km area between the Main Zone and Halo Zone and straddling Hixon Creek.  One drill will be turning doing large step-outs and extending the strike length of the mineralized trend. There is a strong geophysical signature helping out with drill targeting, that also extends on to their neighbor’s land package at Osisko Development.

Next we got into the recent acquisition of the 13 cells of placer claims at the Halo zone; which when combined with past staking around their main property, has brought the new total land position up to around 95,000 hectacres (~235,000 acres) held by the Company, and now making it the third largest claim holder in the Cariboo Gold District. 

We wrap up with potential rerating the company could get once their initial resource estimate is out and digested by the market.  With regards capital on hand, they announced a modest raise in late March to get them to this key upcoming milestone, where they believe more institutional interest will be coming in to assist with funding the next phase of exploration and project derisking.

If you have any questions for Frank regarding Golden Cariboo, then please email them into me at Shad@kereport.com.

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