Summary of Exploration Activities, July 2020

2020-07-27 / @thenewswire

(TheNewswire)

Vancouver, BC - TheNewswire - July 27, 2020 - Cariboo Rose Resources Ltd. (“Cariboo”) (TSXV:CRB) is currently exploring four gold projects in southern and southcentral British Columbia. These projects include two epithermal projects; Koster Dam and Coquigold, one disseminated Carlin style project; Carbonate Hosted Gold and one Shale Hosted Gold project; Lightning Strike. The Koster Dam project claim boundary starts approximately 4 kilometers north of the former producing Black Dome Mine (gold-silver) and is subject to an option with Oakley Ventures Inc. who may earn up to a 50% interest. Carbonate hoisted gold is located in the Marble Range near the community of Clinton BC and is subject to an option with Black Shield Metals Corp. who may earn a 60% interest (increasing to 70% with the completion of a feasibility study). Coquigold, located approximately 8 kilometers north of Shovelnose Mountain where Westhaven Ventures Inc. (TSX-V:WHN) has made a significant epithermal gold discovery, is 100% owned by Cariboo and Lightning Strike, located 60 kilometers northeast of the community of 100 Mile House, is 100% owned by Cariboo. Lightning Strike is exploring shale hosted gold in a similar setting to the Spanish Mountain Project located 90 kilometers to the northwest (owned by Spanish Mountain Gold Ltd. (TSX-V: SPA) and to the Frasergold Project located 30 kilometers to the north (owned by Kore Mining Ltd. (TSX-V: KORE). Crews are currently expanding soil grids at Lightning Strike and have collected approximately 1,100 samples so far this season. Excavator trenching and drilling are currently being permitted (see news release July 6, 2020).

In other matters Freeport- McMoRan of Canada Limited (NYSE: FCX), original owner of the Carruthers Pass copper-zinc-gold-silver-cobalt project located in northern British Columbia, has notified the company of its intent to sell its 2 ½ % reducible royalty in the project to Franco-Nevada Corporation (TSE:FNV) for an undisclosed amount.

J.W. (Bill) Morton P.Geo, within the context of the requirements of NI-43-101, is the qualified person who takes responsibility for this news release.

Bill Morton

J.W. (Bill) Morton, P.Geo.

President

Cariboo Rose Resources Ltd.

Contact:
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: info@eastfieldgroup.com

About Cariboo Rose Resources Limited

Cariboo Rose owns six mineral projects in British Columbia. These projects include Pat and Cowtrail, prospective for copper-gold porphyry mineralization, Carruthers Pass, prospective for copper-zinc-silver-gold-cobalt massive sulfide mineralization, Coquigold and Koster Dam, prospective for epithermal silver-gold mineralization and Carbonate Hosted Gold, prospective for Carlin style gold mineralization. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.