Cariboo Rose signs option agreement for Thunder Ridge gold-silver property

• Cariboo Rose Resources (TSXV:CRB) reached an agreement to option the Thunder Ridge gold-silver property, which lies next to its Lightning Strike gold-silver property in British Columbia
• Subject to Venture Exchange approval, the company has the right to earn a 100 per cent interest in the Thunder Ridge property through a series of cash payments and share issuances over three years
• The Thunder Ridge property has a history of impressive gold-silver drill intercepts
• Cariboo Rose Resources stock (TSXV:CRB) opened trading at $0.035

Cariboo Rose Resources (TSXV:CRB) reached an agreement to option the Thunder Ridge gold-silver property, which lies next to its Lightning Strike gold-silver property in British Columbia.

Subject to Venture Exchange approval, the company has the right to earn a 100 per cent interest in the Thunder Ridge property through a series of cash payments and share issuances over a three-year period.

Under the terms of the agreement, Cariboo Rose will make cash payments totalling $50,000 and issue 900,000 shares. An initial payment of $5,000 and 100,000 shares is due upon signing the option agreement. A 2.0 per cent Net Smelter Return (NSR) is also reserved for the vendor, which can be reduced to 0.75 per cent for $1.25 million cash and 500,000 shares within 36 months of a positive preliminary economic assessment.

Highlights

The Thunder Ridge property has a history of impressive gold-silver drill intercepts. This acquisition complements Cariboo Rose’s 100 per cent owned Lightning Strike property, located 60 kilometres northeast of the community of 100 Mile House, B.C. Encompassing roughly 42 square kilometres, Lightning Strike is known for its potential for shale-hosted precious metals. Shale-hosted gold deposits are among the most attractive models for large gold deposits globally, including the giant Murantau and Sukhoi Log deposits in Russia.

Noteworthy drill holes on the Lightning Strike property (outside Thunder Ridge) include:

• 3.42 g/t gold and 228.1 g/t silver over 5.0 metres
• 0.62 g/t gold and 7.2 g/t silver over 38.0 metres
• 0.77 g/t gold over 20.0 metres
• 19.30 g/t gold over 1.5 metres

The property is well bisected by logging roads and is accessible by pickup truck. An exploration permit to drill, valid until April 28, 2029, was granted in last year.

Cariboo Rose Resources Ltd. operates several gold, copper, silver and zinc exploration projects with active development programs. It is engaged in the acquisition and exploration of prospective copper, gold and molybdenum properties in Western Canada.

Cariboo Rose Resources stock (TSXV:CRB) opened trading at $0.035 and has risen 40.00 per cent over the past three months.

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