Golden Cariboo Resources Ltd. press release

Golden Cariboo Announces Inaugural NI 43-101 Mineral Resource Estimate for the Quesnelle Gold Quartz Mine Property, British Columbia

2026-09-29

CSE - Canadian National Stock Exchange · Gold · Silver · Lead · Zinc · Copper · Molybdenum · Arsenic · Nickel · Antimony · Potash · Lithium · Bismuth · Tungsten · Tellurium · Boron · Mercury · Canada · Resource Estimate

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10 Mt at 0.56 g/t AuEq containing 178,000 oz Au Indicated, plus 71Mt at 0.44g/t for 1.0 Moz Au Inferred

September 29, 2026 - Vancouver, British Columbia - Golden Cariboo Resources Ltd.(the "Company") (CSE: GCC) (OTC: GCCFF) (WKN: A402CQ) (FSE: 3TZ) is pleased to announce an inaugural independent Mineral Resource Estimate (the "MRE") prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects("NI 43-101") for its 100%-owned Quesnelle Gold Quartz Mine Property (the "Property"), located approximately 4 kilometres northeast of Hixon in central British Columbia.

The MRE is reported with an effective date of September 26, 2026 and has been prepared by Sue Bird, P.Eng., of Bird Resource Consulting Corp. (“BRCC”), an independent Qualified Person as defined by NI 43-101. The Company will file an independent NI 43-101 technical report supporting this MRE on SEDAR+ (www.sedarplus.ca) under the Company's profile within 45 days of this news release, as required by NI 43-101.

President & CEO Commentary

“This inaugural mineral resource estimate is a tremendous achievement for Golden Cariboo and validates the strength of the Halo discovery," stated Frank Callaghan, President and CEO. "What makes this resource particularly significant is that it was defined from only 24 of the 30 Company drill holes totaling less than 8,500 metres of drilling, yet has outlined over 1.0 million ounces of inferred gold and 178,000 ounces of indicated gold over. The new Halo deposit occurs over a strike length of 1150m by about 420m wide and remains open in all directions. Equally important, the Main zone remains outside the current estimate, as do four other parallel similar styled geophysical and geochemical targets with multi kilometer potential, providing a compelling opportunity for future resource growth.

The Project's strong growth potential is complemented by excellent existing infrastructure. Located only 4km from Hixon, BC, the Property has year-round road access and benefits from an existing rail corridor running through the community. Major suppliers, contractors, equipment providers, and regional mining support services are readily accessible from nearby Prince George and Quesnel, both approximately 45 minutes away, which also hosts regional and international airports as well as government offices. This established infrastructure network positions the project to efficiently advance exploration and development activities while maximizing opportunities for local employment, procurement, business growth, and long-term economic benefits throughout the Cariboo region.”

MRE Highlights

Readers should refer to the tables and notes that follow. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources have a lower level of confidence than Indicated mineral resources and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.

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Effective date: September 26, 2026

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Quesnelle Gold Quartz Mine Property:Halo-North Hixon Zones

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Indicated Mineral Resources:10 Mt at 0.56 g/t AuEq containing 178,000 oz Au Indicated, plus

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Inferred Mineral Resources: 71Mt at 0.44g/t for 1.0 Moz Au Inferred

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Reporting cut-off grade(s): 0.15 g/t Gold Equivalent (AuEq)

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Price assumptions: US$3600/oz, Silver US$40/oz

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Constraint: Open pit with assumptions as listed in the notes to the Resource table.

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Ownership: 100% Golden Cariboo Resources Ltd.

Mineral Resource Statement

Table 1. Inaugural Mineral Resource Estimate for the Quesnelle Gold Quartz Mine Property at the Base Case cutoff - Effective Date September 26, 2026

| Class | Cutoff - AuEq | Tonnage | AuEq | Au | Ag | AuEq | Au | Ag | | (gpt) | (kt) | (gpt) | (gpt) | (gpt) | (000) | (000) | (000) | | | Indicated | 0.15 | 9,966 | 0.556 | 0.547 | 1.5 | 178 | 175 | 494 | | Inferred | 0.15 | 70,851 | 0.444 | 0.437 | 1.2 | 1,011 | 995 | 2,633 |

Notes to the Mineral Resource Statement (NI 43-101 s. 3.4)

1.

The Mineral Resource Estimate has an effective date of September 26, 2026]. The estimate is current as at the effective date.

2.

Mineral resources are reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 29, 2019).

3.

Reasonable prospects for eventual economic extraction were established by an open pit shell above a cut-off grade of 0.15g/t AuEq.

4.

The base case MRE has been confined by a “reasonable prospects of eventual economic extraction” shape using the following assumptions for open pit mining:

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Metal prices of US$3600/oz gold and US$40/oz silver.

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Metallurgical recoveries of 90% gold and 50% silver.

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Payable metal of 99% for Au ad Ag.

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Forex of 0.72 $US:$CDN

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Processing costs of CDN$15 / tonne milled and General Administrative (GA) costs

CDN$6/tonne milled.

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Treatment/Refining/Transportation Costs of US$5.80/oz for Au and US$0.19/oz Ag.

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Open pit mining costs of CDN$3.00 / tonne for mineralized and waste material

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45-degree pit slopes

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The 150% price case pit shell is used for the confining shape.

The NSR = Au g/t* CDN$158.86 / g 90% + Ag g/t CDN$1.76/g *50%

Gold Equivalent Value, AuEq = NSR/(CDN$158.86 / g * 90%)

1.

A bulk density values of 2.7 is applied to all material based on average measurements.

2.

The mineral resource was estimated using inverse distance cubed into a block model with parent block size of 10mx10mx10m.

3.

Au grade capping of 35g/t and outlier restriction of 5g/t in Domain 1, capping of Au of 10g/t and outlier of 2g/t Au in Domain 2. Ag grade capping of 50g/t and outlier restriction of 30g/t in Domain 1, capping of Ag of 15g/t and outlier of 10g/t Ag in Domain 2.

4.

Classification: No Measured resources are reported. Indicated resources required the average distance to 2 drillhole of less than 50m with the furthest distance to one drillhole of 70m, and data from at least 2 quadrants. Inferred resources required search distances within 1.5x the range of the variograms.

5.

Contained metal is reported in troy ounces. Tonnages are reported in metric tonnes. Grades are reported in grams per tonne. Figures may not add due to rounding.

6.

The Mineral Resource Estimate was prepared by Sue Bird, BRCC, an independent Qualified Person as defined by NI 43-101.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves.

Inferred mineral resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred mineral resource has a lower level of confidence than that applying to an Indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration.

The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues.

The figure below is a long-section through the center of the deposit, looking SW at Az=235o. The figure plots the composited and block Au grades for both the Halo and North Hixon zones of the deposit. The resource pit is shown in black with the extents of the interpolated mineralization shown in orange.

[](https://thenewswire.com/data/tnw/clients/img/61f1d7974e5f0cc43bead8b7390c0839.png) Click Image To View Full Size

Sensitivity to Cut-off Grade

Table 2 is provided to illustrate the sensitivity of the estimate to cut-off grade. The base-case cut-off used for the Mineral Resource Statement is highlighted. Sensitivity cases do not constitute alternative Mineral Resource Statements.

| Class | Cutoff - AuEq | Tonnage | AuEq | Au | Ag | AuEq | Au | Ag | | (gpt) | (kt) | (gpt) | (gpt) | (gpt) | (000) | (000) | (000) | | | Indicated | 0.1 | 12,118 | 0.479 | 0.470 | 1.5 | 187 | 183 | 568 | | 0.15 | 9,966 | 0.556 | 0.547 | 1.5 | 178 | 175 | 494 | | | 0.2 | 8,408 | 0.627 | 0.617 | 1.6 | 169 | 167 | 437 | | | 0.25 | 7,196 | 0.695 | 0.685 | 1.7 | 161 | 158 | 387 | | | 0.3 | 6,191 | 0.763 | 0.753 | 1.7 | 152 | 150 | 341 | | | 0.5 | 3,615 | 1.033 | 1.022 | 1.9 | 120 | 119 | 219 | | | | 1 | 1,231 | 1.700 | 1.687 | 2.2 | 67 | 67 | 86 | | Inferred | 0.1 | 84,914 | 0.391 | 0.384 | 1.1 | 1,067 | 1,048 | 3,022 | | 0.15 | 70,851 | 0.444 | 0.437 | 1.2 | 1,011 | 995 | 2,633 | | | 0.2 | 58,652 | 0.500 | 0.493 | 1.2 | 943 | 929 | 2,248 | | | 0.25 | 48,724 | 0.557 | 0.549 | 1.2 | 872 | 860 | 1,936 | | | 0.3 | 42,271 | 0.600 | 0.592 | 1.3 | 815 | 805 | 1,707 | | | 0.5 | 18,689 | 0.863 | 0.855 | 1.3 | 518 | 513 | 807 | | | 1 | 4,058 | 1.487 | 1.477 | 1.6 | 194 | 193 | 207 | |

Key Assumptions, Parameters and Methods

The following summarizes the key assumptions, parameters and methods used to estimate the mineral resources, as required by NI 43-101 s. 3.4(c). Full detail is contained in the technical report that will be filed on SEDAR+.

Geology and mineralization

The main deposit model for the Quesnelle Gold Quartz Mine Property is the orogenic (also known as mesothermal, gold quartz, greenstone, Mother Lode) type, consisting of gold-bearing quartz-carbonate veins and quartz-carbonate-pyrite replacement style mineralization. Gold-quartz vein type mineralization commonly occurs in a system of en echelon veins on all scales. Tabular fissure veins occur in more competent host lithologies, with veinlets and stringers forming stockworks in less competent lithologies. Host rocks are varied, including mafic volcanic rocks, ultramafic and mafic intrusions, fine clastic rocks, chert, and felsic to intermediate intrusions. On the Quesnelle Gold Quartz Mine Property quartz-carbonate veins are present and mineralization is hosted by intermediate-mafic volcanics, with possible ultramafic dykes, and sedimentary rocks. Native gold, pyrite, arsenopyrite, galena, sphalerite, chalcopyrite and tennantite have been identified on the Property.

Drilling, sampling and database

The MRE is based on a drill-hole database comprising of 24 NQ sized surface diamond drill holes, totaling 8,466 meters, and all were completed by the Company. The Main zone, which includes six of the Company’s drill holes plus several historical surface drill holes are not included in the MRE. The estimate used 8,509 gold assays in 9,539 m of drilling composites. Drill spacing in the Indicated volumes is less than 100m and in the Inferred volumes less than 200m. Collar surveys, down-hole surveys, lithology, alteration, mineralization and assay data were compiled and validated by the independent QP.

Data verification (NI 43-101 s. 3.2)

The independent QP has verified the data disclosed, including sampling, analytical and test data underlying the information in this news release. The independent QP considers the data adequate for the purposes of the Mineral Resource Estimate. The Company QP has also reviewed the technical information in this news release.

QA/QC

The Company’s diamond drill core, trench and rock samples supporting the Mineral Resource Estimate were prepared and analyzed by ALS Canada Ltd. ("ALS") at its facilities in North Vancouver, British Columbia and Thunder Bay, Ontario, and by MSALABS at its facilities in Prince George and Langley, British Columbia. Both ALS and MSALABS are independent laboratories accredited to ISO/IEC 17025 and ISO 9001 standards

Analytical methods used in the database supporting the Mineral Resource Estimate included:

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ALS Au-AA23 and Au-AA26: Fire assay with AAS finish on 30g and 50g aliquots for gold determination, with lower detection limit (‘LDL’) of 0.01 g/t Au.

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ALS Au-GRA21: Fire assay with gravimetric finish for overlimit gold samples exceeding 10 g/t Au.

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ALS Au-SCR 21 and Au-SCR24 Metallic Screen: Applied to selected samples exhibiting visible gold or coarse-gold characteristics, utilizing a 1 kg pulp screened to 106 µm with weighted-average gold grades calculated from oversize and undersize fractions, with LDL of 0.05 g/t Au.

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ALS ME-ICP41: Aqua regia digestion with ICP-AES finish for silver and multi-element analysis on 0.5g aliquots, with a silver detection limit of 0.2 ppm Ag

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ALS Au-PA01: PhotonAssay™ analysis on crushed rejects, with a lower detection limit of 0.03 ppm Au

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MSALABS CPA-AgAu1: PhotonAssay™ analysis for gold and silver on nominal 400-600 g aliquots, with lower detection limits of 0.03 ppm Au and 1.5 ppm Ag

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MSALABS CPA-Au1E: PhotonAssay™ gold analysis to extinction on large aliquots, with a lower detection limit of 0.015 ppm Au.

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MSALABS ICP-130: 0.5g aqua regia digestion with ICP-ES finish for silver and multi-element analysis, including a silver detection limit of 0.2 ppm Ag

Gold values incorporated into the Mineral Resource Estimate were derived from fire assay, metallic screen, and PhotonAssay™ analytical methods, as applicable. Silver values were derived from either ALS ME-ICP41, MSALABS ICP-130, or MSALABS CPA-AgAu1 PhotonAssay™ analyses, as applicable. The use of large-mass PhotonAssay™ methods was considered appropriate for portions of the deposit characterized by coarse gold mineralization.

The Company's quality assurance and quality control ("QA/QC") program included the systematic insertion of certified reference materials, blanks and duplicate samples at a rate of approximately one quality control sample for every 20 routine samples. Review of QA/QC results demonstrated acceptable levels of accuracy and precision and supports the suitability of the analytical database used for the Mineral Resource Estimate.

Historical data were assessed by the independent QP and was used only after verification. No material QA/QC failures were identified that would preclude use of the data in the MRE, except as described in the technical report.

Estimation methods

Composites of 5m were generated within domain boundaries. Variography was completed by domain. Grades were interpolated by inverse distance cubed in four search passes with expanding search ellipses. Blocks were classified using distance-to-composite, number of holes and geologic continuity criteria described in the notes above. A visual and statistical validation, including swath plots and comparison with declustered composites, was completed by the independent QP.

Known Legal, Political, Environmental and Other Risks

Pursuant to NI 43-101 s. 3.4(d), the following known risks could materially affect the potential development of the mineral resources. This list is not exhaustive. Investors should read the technical report and the Company's continuous disclosure filings.

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Title and surface rights. The Company holds 100% mineral claim ownership in good standing. There are no underlying NSR or option payments owing and the mineral claims are not at risk of expiry.

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First Nations and consultation. The Property is located in the traditional territory of Lheidli T'enneh First Nation. Permitting of any future advanced exploration or development will require consultation and, where applicable, accommodation. There is no assurance that agreements will be reached on acceptable terms.

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Permitting and environmental. The MRE is not a development decision. Any future mining would require provincial and federal environmental assessment and permitting, including under the Mines Act, Mineral Tenure Act, Environmental Assessment Act, Environmental Management Act, Fisheries Act, as well as other agency Acts and Regulations as applicable, and would be subject to water, fisheries, wildlife, cultural-heritage and reclamation requirements. The Property includes historical workings and is proximal to Hixon Creek. Salmon-bearing drainages and riparian constraints may affect pit or infrastructure siting.

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Metallurgy. No metallurgical testing has been carried out at the Property.

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Commodity prices, costs and exchange rates. The cut-off grade and pit/stope constraints use assumed gold prices, costs and FX that may not be realized. A sustained decrease in gold price or increase in costs could reduce or eliminate mineral resources.

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Inferred resources. A material portion of the estimate is Inferred. Inferred mineral resources are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

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Infrastructure and climate. Although the Property is road-accessible from Hixon, any future operation would require confirmation of power, water, tailings, waste-rock and access solutions. Seasonal weather and wildfire risk in central British Columbia may affect work programs.

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No mineral reserves; no production decision. The Company has not completed a preliminary economic assessment, pre-feasibility study or feasibility study, and has not made a production decision. The MRE does not demonstrate economic viability.

Technical Report Filing

An independent technical report will be prepared in accordance with NI 43-101 and Form 43-101F1, titled "NI 43-101 TECHNICAL REPORT on the QUESNELLE GOLD QUARTZ MINE PROPERTY,Hixon, British Columbia",withan effective date of September 26, 2026,will be filed on SEDAR+ at www.sedarplus.ca under the Company's profile within 45 days of the date of this news release, as required by NI 43-101 s. 4.2. The technical report will include the information required by Form 43-101F1, including data verification, estimation methods, and the Qualified Person's certificates and consents. If the filed technical report contains a material difference from the disclosure in this news release, the Company will issue a further news release reconciling the difference, as required by NI 43-101 s. 4.2(6).

This news release is the first-time written disclosure of mineral resources on the Property and is a technical-report trigger under NI 43-101 s. 4.2(1)(j).

Next Steps

The Company intends to use the MRE as the foundation for ongoing step-out and infill drilling at the Halo deposit, targeting upgrades of Inferred to Indicated, implementing metallurgical testwork, environmental baseline studies and further geological modelling.Any decision to complete a preliminary economic assessment will be announced separately and will be supported by the required NI 43-101 disclosure. This paragraph is forward-looking information and is subject to the cautionary statements below.

About the Quesnelle Gold Quartz Mine Property

The Quesnelle Gold Quartz Mine Property is located approximately 4 kilometres (2.5 miles) northeast of, and is road accessible from, Hixon in central British Columbia. The Property includes the Quesnelle Quartz gold-silver deposit, which was discovered in 1865 and historically developed over a footprint of about 150 m by 150 m at the Main zone straddling Hixon Creek. The Property is bordered by the Cariboo Gold Project held by Osisko Gold Group and is located along a favourable corridor adjacent to the Spanish and Eureka thrust faults. The Company's land position covers approximately 96,183 hectares (237,673 acres).

Overall, the geological setting of gold mineralization on the Property shows strong similarities with the Spanish Mountain gold deposit, situated approximately 120 km to the southeast along the same geological trend. As a sediment-hosted vein (SHV) deposit, the Spanish Mountain deposit is considered to belong to the epizonal orogenic subclass of gold deposits. Similarity of geological setting does not mean that the Property will host a mineral resource or mineral reserve of comparable size or grade, and no economic comparison is intended.

About Golden Cariboo Resources Ltd.

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 Gold Group, partly intertwined with them at the north end of the Cariboo Gold Project, and located along a favourable corridor adjacent to the Spanish and Eureka thrust faults over a 96,183 hectare (237,673 acre) area. Historically, over 101 placer gold creeks on the 90-kilometre (56 mile) trend, from the Cariboo Hudson mine north to the Quesnelle Gold Quartz Mine Property, have recorded production, with successful placer mining continuing to this day.