Lightning Strike

LIGHTNING STRIKE

Gold

Silver

• Target - Shale hosted orogenic gold deposits, also called sediment hosted vein deposits
• Access - Road Access 60 km northeast of the Community of 100 Mile House
• Infrastructure - Excellent infrastructure nearby (powerlines, rail, roads)
• Property - 3,665 hectares (36.65 sq. kilometers)

Gold mineralization in the area of staking was first reported by Homestake Development Corporation in 1984 with the discovery of a significant soil gold anomaly underlain by Triassic aged shale and siltstone from which quartz carbonate boulders grading up to 25.10 g/t gold and 216.8 g/t silver were sampled.

In 2006 Skygold Ventures Ltd. (later Spanish Mountain Gold Corp.) staked this area and completed mechanical trenching and drilling in 2008 and 2010. Seven drill holes completed in this period are located on the Lightning Strike claims staked by Cariboo Rose. Significant intercepts include 4.54 g/t gold over 3.8 meters, 1.03 g/t gold over 26.0 meters, and 19.30 g/t gold over 1.5 meters. In 2019 and 2020 Cariboo Rose extended soil geochemical grids to the south and east of the historic drilling with approximately 2000 samples collected which have confirmed the anomalous gold feature extending 1,500 meters to the south and 1,250 to the east of the previous target area and a larger soil silver anomaly coincident with the gold anomaly excepting that it extends further on the northwest side.

Shale hosted gold deposits, also called sediment hosted vein deposits, are one of the most attractive models for large gold deposits in the world and include the giant Murantau and Sukoy Log deposits in Russia. Similar styles of gold mineralization locally include the FG Gold Project located 35 kilometers to the north (Kore Mining Ltd.) and the Spanish Mountain Gold Project located 95 kilometers to the northwest (Spanish Mountain Gold Corp).  Both the FG Gold Project and the Spanish Mountain Gold Project are currently being actively explored. In 2020 Eric Sprott (through a privately owned corporation) completed investments in both Kore Mining Ltd and Spanish Mountain Gold Corp.

A 2021 diamond drilling program consisting of 11 holes totaling approximately 1,463 metres further evaluated the central anomaly area and confirmed the presence of broad gold-silver mineralization associated with altered sedimentary and structural zones.

Subsequent drilling programs, including more recent drilling completed in 2025, continued to intersect broad intervals of gold-silver mineralization, including 44.4 metres grading 0.77 g/t gold and 37.1 g/t silver (1.51 g/t gold equivalent), including 11.9 metres grading 1.58 g/t gold and 109.7 g/t silver (3.77 g/t gold equivalent), supporting the scale potential of the mineralized system.

RECENT WORK

• Established exploration grids across the central target area.
• Completed approximately 2,000 soil geochemical samples defining a strong gold anomaly extending approximately 1.5 kilometres north-south and 1.0 kilometre east-west.
• Identified a broader coincident silver anomaly extending beyond the primary gold anomaly to the northwest.
• Completed rock sampling, geological mapping, prospecting, and target generation programs across the property.
• Multiple drill-ready and follow-up exploration targets have been identified.
• Received a multi-year exploration permit allowing access trail construction, mechanical trenching, test pitting, and diamond drilling.
• Completed an 11-hole, 1,463-metre diamond drilling program in 2021 focused on the central anomaly area.
• Subsequent drilling programs continued to intersect broad intervals of gold-silver mineralization associated with altered sedimentary and structural zones.
• More recent drilling returned 44.4 metres grading 0.77 g/t gold and 37.1 g/t silver (1.51 g/t gold equivalent), including 11.9 metres grading 1.58 g/t gold and 109.7 g/t silver (3.77 g/t gold equivalent).