Golden Cariboo Announces Private Placement Financing

NOT FOR DISSEMINATION IN THE US OR TO US WIRE SERVICES

Golden Cariboo Resources Ltd. (TSX VENTURE:GCC.H) ("Golden Cariboo" or the
"Company") announces a private placement financing of up to 6,000,000 units at a
price of $0.25 per unit (the "Units") to raise up to an aggregate total of
$1,500,000 (the "Financing"). Each Unit consists of one common share in the
equity of Golden Cariboo and one half of one share purchase warrant (the
"Warrants"); each whole Warrant entitles the holder to purchase one additional
common share (a "Share") at a price of $0.35 per Share for a period of one year
from closing of the Financing. Proceeds of the Financing will be used for
general working capital purposes. Finder's fees may be payable in connection
with the Financing. Closing of the Financing is subject to regulatory approval.


About Golden Cariboo Resources Ltd.

The Company is an exploration and development mineral resource company focused
on the identification of potential mineral exploration projects. The Company is
listed on the NEX board of the TSX Venture Exchange under the symbol GCC.H.
Additional information about the Company is available under the Company's SEDAR
profile at www.sedar.com.


This news release has been prepared on behalf of the board of directors which
takes full responsibility for its contents.


J. Frank Callaghan, President and CEO

This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events and conditions and
therefore involve inherent risks and uncertainties. These statements are only
predictions and involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any future results
expressed or implied by these forward-looking statements. These forwardlooking
statements, and any assumptions upon which they are based, are made in good
faith and reflect our current judgment. Except as required by applicable law,
the Company does not intend to update any of the forward looking statements to
conform these statements to actual results.


These securities have not and will not be registered under the United States
Securities Act of 1933 or any state securities laws and may not be offered or
sold in the United States or to a U.S. Person unless so registered, or an
exemption from registration is available to be relied upon. This news release
does not constitute an offer of securities for sale in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Golden Cariboo Resources Ltd.
J. Frank Callaghan
President and CEO
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
www.theresourcegroup.ca