Resource Developer Finds Excellent District-Scale Gold Potential in BC

1. Golden Cariboo Resources Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. In addition, Golden Cariboo Resources Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Golden Cariboo Resources Ltd. (GCC:CSE; GCCFF:OTC; A402CQ:WKN; 3TZ:FSE) provided a summary of its 2025 exploration activities at the Quesnelle Gold Quartz Mine Property, located approximately 4 kilometers northeast of Hixon and 50 kilometers southeast of Prince George, British Columbia, as detailed in a January 7 announcement.

The company reported that it launched its two-phase spring and fall drilling program in April 2025, completing the remaining 90.18 meters of QGQ24-21. The 2025 drilling efforts focused on expanding gold mineralization within the Halo zone while also assessing geochemical and structural targets, including the argillite-greenstone contact area.

Initial difficulties were encountered when drilling in the argillite on the eastern side of the contact, leading to the loss of four holes either short of or within the mineralized Halo zone to the west due to technical challenges.

"In 2025, the Company drilled a total of 1,729.79 meters in eight NQ-sized surface diamond drill holes, including 90.18 meters to complete QGQ24-21 and 354.19 meters of QGQ25-28, which was still in progress at year end," the announcement stated.

Drilling was paused on December 18, 2025, for a short break into the new year, with plans to resume in early 2026 to investigate both the northern extension of the Halo zone and the down-dip mineralization of one of several MMI gold-in-soil anomalies.

Highlights of the 2025 exploration program include:

• Adoption of PhotonAssay™ technology as part of the Company’s standard assay protocol.
• Reevaluation of QGQ24-20 using PhotonAssay™ technology confirmed and increased gold grades by 5.9% compared to fire assay, yielding 0.56 grams per tonne (g/t) gold over 475.4 meters from a depth of 7.97 meters, including 236.88 meters of 1.06 g/t gold.
• Discovery of the Km Uno Zone: Situated 2 kilometers southeast of the Halo zone, where initial samples from mineralized volcanic subcrop or angular float returned 1.1 g/t gold with 8 g/t silver and 0.57 g/t gold with 3.3 g/t silver. These results align with airborne resistivity, ground conductivity anomalies, and a significant gold-silver-arsenic soil anomaly.
• QGQ25-23 intersected 0.56 g/t gold over 99.84 meters from 182.2 meters and concluded in mineralization at the Halo zone.
• Golden Cariboo has recently collaborated with MSALABS in Prince George, B.C., to perform PhotonAssay™ for gold and silver. The proximity of the property to the lab and the availability of silver with PhotonAssay™ technology may speed up assay result turnaround times.

Currently, samples from drill hole QGQ25-25 are being analyzed by MSALABS, QGQ25-26 to 27 are being prepared for shipment to the lab, and QGQ25-28 is being logged with plans to continue drilling in January, the company mentioned in the announcement.

Building on the momentum of the fall 2025 program, Golden Cariboo stated it is preparing for an ambitious and technically comprehensive exploration strategy for 2026. The company intends to significantly increase drilling and trenching activities and broaden its regional understanding of the district-scale geology across its 94,899-hectare mineral land package.

Results Could Be Key Catalyst for Long-Term Development

To bolster the execution of its autumn drilling campaign at the project, the company enlisted two experienced geologists, as noted by Couloir Capital's Analyst Ron Wortel and his research team in a November 29 research note.

"The campaign is expected to broaden the footprint of existing gold-bearing zones and define new drill-ready targets," Wortel wrote. "The campaign's results will play a central role in determining follow-up drilling priorities and could represent a key catalyst for reassessing the longer-term development potential of the project."

At the time of Wortel's report, Golden Cariboo's share price was around CA$0.05 per share. The analyst pointed out that GCC is trading at a significant discount compared to its peers active in established B.C. gold camps. The market caps of these companies range from about CA$6 million to over CA$40 million, while Golden Cariboo's market cap is approximately CA$5.3 million, with 106.9 million shares outstanding. Given the strong indications of scale potential at Halo and multiple additional targets on the Quesnelle property, Couloir believes Golden Cariboo should be in the upper end of the range. Thus, Couloir's fair value target price for the Canadian junior miner is CA$0.40 per share. The difference between this target and GCC's current price suggests a potential return of 700%. Golden Cariboo remains a Buy.

With the ongoing surface drill program at Quesnelle, Golden Cariboo is concentrating on priority sites identified through previous exploration work, including trenching, sampling, and surface mapping, reported Wortel. The company aims to extend the known strike of the Halo and Main zones to approximately 2 kilometers from about 600 meters. Success in this endeavor would increase the likelihood that the mineralized system at Quesnelle is of district style and scale, potentially leading to a valuation rerating.

Before starting the drill program, Golden Cariboo raised CA$1.5 million in equity funding, Wortel noted. The funds will be used not only to advance the 2-km Halo-Main corridor expansion but also to accelerate work in emerging parallel trends. Prior to the capital raise, at the end of Q3/25 (September 30), the company had CA$0.73 million in cash and CA$1 million in working capital. It has an estimated 8.53 million options and 53.11 million warrants, all out of the money.

In early September, Cariboo discovered the KM Uno zone at Quesnelle, a derisking and value-enhancing event, reported Wortel. Initial bedrock sampling from volcanic subcrop and angular float material there returned encouraging gold and silver results, up to 1.1 grams per ton gold and 8 g/t silver. The zone contains consistent gold-silver-arsenic soil anomalies and the same geophysical features as the mineralization at Halo. The discovery also means that Quesnelle contains multiple mineralized zones. "With KM Uno now identified, Golden Cariboo evolves from a single-zone story into a multizone gold-silver system," wrote Wortel.

The analyst highlighted that there are several parallel mineralized structures at Quesnelle. Halo is situated between two of them, Sunset to the west and KM Uno to the southeast. This trio directly correlates to "previously mapped gold-silver-arsenic soil anomalies, airborne resistivity highs and ground conductivity features, suggesting a district-scale gold system," Wortel wrote.

Halo has shown near-surface mineralization. Highlight hole QGQ24-13 intersected 1.77 g/t Au over 136.51 meters. Follow-up hole QGQ24-20 showed 0.56 g/t Au over 475.4 meters, including 1.06 g/t Au over 236.88 meters. Sunset has indicated the presence of mineralization, including possible extensions toward historically producing areas like the Hixon Creek Placer. The company is testing possible northern extensions of the mineralized system with its work at Buckley Creek, 1 kilometer north-northwest of the Halo discovery hole and 2 kilometers north of the Main zone shaft.

The Catalyst: The Yellow Metal Continues Rising

Gold maintained its upward momentum on Tuesday, fueled by heightened safe-haven demand following the U.S. capture of Venezuela’s president, which escalated global tensions, as reported by CNBC on January 6.

Meanwhile, investors were eagerly awaiting U.S. payroll data for insights into the Federal Reserve’s interest rate policy. Spot gold increased by 0.8% to US$4,485.39 per ounce, building on a nearly 3% rise in the previous session, moving closer to the record high of US$4,549.71 reached on December 24. U.S. gold futures for February delivery ended 1% higher at US$4,496.10.

"Precious metals traders see more risk on the horizon than stock and bond traders do at present," commented Jim Wyckoff, senior analyst at Kitco Metals.

He noted that the U.S. operation in Venezuela over the weekend has maintained the demand for gold and silver as safe-haven assets. Ousted Venezuelan President Nicolas Maduro pleaded not guilty to narcotics charges on Monday after being seized by the U.S. and brought to New York over the weekend. Gold, traditionally seen as a safe haven, surged 64.4% last year, marking its strongest annual performance since 1979.

Bernstein raised its 2026 gold price forecast to US$4,180 per ounce in a note released on Wednesday, warning that several significant tailwinds might already be largely reflected in the metal’s impressive multiyear rally, according to a report by Sam Boughedda for Investing.com on January 7.

Analyst Bob Brackett stated that the firm is "marking gold price to market at US$4,180/ounce in 2026," citing support from "continued central bank buying … as they diversify reserves away from the US dollar," the report said.

He also noted that "gold ETF inflows accelerated in 2025 … reflecting rising interest from both institutional and retail investors," and anticipated Federal Reserve rate cuts in 2026 "should also support gold prices."

Bernstein highlighted gold’s unusual resilience despite rising real interest rates. The firm observed that real rates increased by more than 3% over the past four years while gold climbed 135%, describing this as "an anomaly, as gold usually has a negative relationship to real rates."

Although the connection between TIPS and gold seems to have weakened, Bernstein argued it “still exists, although it is no longer linear,” with safe-haven flows, central bank acquisitions, and the “currency debasement trade” driving a structural re-rating since 2023.

Despite strong underlying demand, Bernstein suggested that upside potential might be limited, Boughedda wrote. Global central bank purchases slowed in the first nine months of 2025, and while ETF inflows compensated for the decline, the firm noted that ETF flows are “a pro-cyclical force,” capable of amplifying both rallies and downturns.

Ownership and Share Structure¹

Two insiders own 9.13% of Golden Cariboo. They include president and CEO Frank Callaghan, who is the largest shareholder overall with 9.01%. Laurence Smoliak owns 0.12%. The rest is in retail. There are no institutional investors at this time.

The Canadian explorer has 106.86 million outstanding shares, and 106.86 million free float traded shares. Its market cap is CA$5.9 million. Its 52-week range is CA$0.04–CA$0.16 per share.