Mr. Bill Morton reports

CARBONATE HOSTED GOLD PROJECT OPTION BECOMES EFFECTIVE

Cariboo Rose Resources Ltd. has entered into an option agreement, effective May 18, 2018, with privately owned ZP Mining Inc. to advance its carbonate-hosted gold project. Terms of the agreement will allow ZP to earn a 60-per-cent interest in the project, currently 100 per cent owned by Cariboo, by completing $1.5-million in work and making $300,000 in payments over a 5.5-year term. Following earning a 60-per-cent interest, ZP may earn an additional 15-per-cent interest in the project by paying Cariboo an additional $100,000 and completing a feasibility study within a further 36 months. An initial option payment of $20,000 has been made.

The project encompassing 5,109 hectares was initiated by Cariboo in 2013 to explore for carbonate-hosted gold in south-central British Columbia, such as occurs in Carlin, Nev., and Muddy Lake, British Columbia (Wheaton River Minerals; now Goldcorp), and at the Rackla gold project in Yukon (Atac Resources Ltd.). The claims overlie a sequence of Paleozoic- and Mesozoic-aged carbonate rocks located near the community of Clinton, B.C. Rationale for the project includes historical Geologic Survey of Canada reference to high-grade gold values being obtained in jasperoid float samples in the area (silicified carbonate).

Beginning in 2013, Cariboo began a program of silt sampling on east-trending water courses in the Marble range. Significant gold anomalies were obtained in three drainages trending eastward and spanning a north-south distance of approximately three kilometres. All of the stream anomalies abruptly cut off on their western (upslope) edge, indicating a discrete source. Since 2013, Cariboo has collected and analyzed a total of 324 stream sediment samples, 895 soil samples and 132 rock (float or rubble) samples.

The 2018 program is anticipated to include an airborne geophysical survey and further ground surveys.

J.W. (Bill) Morton, PGeo, within the context of the requirements of National Instrument 43-101, is the qualified person who takes full responsibility for this news release.

About Cariboo Rose Resources Ltd.

In addition to its 100-per-cent-owned Canadian Creek property located in Yukon, Cariboo Rose owns interests in four mineral projects in British Columbia.