en.Wedoany.com Reported - Vancouver-based gold exploration company Golden Cariboo Resources Ltd. (CSE:GCC, OTC:GCCFF, FSE:3TZ) announced on April 8, 2026, that its previously announced non-brokered private placement was oversubscribed and closed, raising total gross proceeds of C$871,000. The company is advancing drilling at its Quesnelle Gold Quartz Mine project in central British Columbia, Canada, and will initiate the project's first independent mineral resource estimate.
Each "Unit" issued in the placement consisted of one common share of the company and one share purchase warrant. The warrants have a term of five years, with an escalating exercise price: C$0.12 in Year 1, C$0.17 in Year 2, C$0.22 in Year 3, C$0.27 in Year 4, and C$0.30 in Year 5. All securities issued are subject to a four-month hold period. Finders' fees will be paid to qualified individuals in accordance with Canadian Securities Exchange policies, with details to be provided in a subsequent news release. The proceeds will be used for general working capital and continued exploration of the company's assets.
Golden Cariboo Resources, founded in 1987, is an exploration-stage junior mining company headquartered in Vancouver, focused on exploring for gold and silver mineral deposits. The company is revitalizing the historic Cariboo Gold Rush through precision drilling and trenching. Its flagship asset, the Quesnelle Gold Quartz Mine, is located approximately 4 km northeast of Hixon in central British Columbia, is easily accessible, and comprises about 95,000 hectares. The property includes the Quesnelle Quartz Gold-Silver deposit, discovered in 1865 during placer mining activities. It produced 2,048 tonnes of ore in 1932 and 1939, grading 3.14 g/t Au and 4.18 g/t Ag. Small-scale placer production has continued on Hixon Creek within the property since the mid-1860s.
Company President & CEO J. Frank Callaghan has over 30 years of experience in the mining industry in British Columbia and Yukon, Canada. He led the discovery, financing, and initial feasibility work for the Cariboo Gold Project of Osisko Development Corp. (ODV-TSX.V/ODV-NYSE) and sold his previous company for C$330 million in 2014. Callaghan returned to the mining sector as President & CEO of Golden Cariboo Resources in January 2024.
In March 2026, Golden Cariboo expanded its operational footprint by acquiring 13 placer mineral claims (totalling 250 hectares, for C$60,000) in the Halo area. The company plans to initiate a maiden NI 43-101 compliant Mineral Resource Estimate for the Quesnelle property, evaluating the Halo and Main zones, incorporating data from the company's 28 surface diamond drill holes and up to nine historical drill holes. Callaghan stated, "Commissioning an independent resource estimate at this stage reflects the strength and consistency of the drill results we have generated to date."
Couloir Capital analyst Ron Wortel reiterated a "Buy" rating on Golden Cariboo on April 2, 2026, maintaining a fair value estimate of C$0.50 per share, representing a significant premium to the share price of approximately C$0.09 at the time of the report.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
