Cariboo Rose Resources Ltd. and Joint Venture partner Discovery Lithium Inc. announced that gold mineralization has been discovered at the Koster Dam gold-silver Project in British Columbia as a result of systematic prospecting. The current program was designed to target vectors originating from reconnaissance work completed in 2022 and high resolution airborne magnetic surveying completed in 2021. Four samples of float, predominantly subangular and consisting of quartz vein and quartz breccia hosted in rhyolite, returned gold analysis of 2.61, 2.38, 1.47 and 0.74 grams per tonne gold respectively (from a total of 58 samples collected with many of them heavily altered and flooded with chalcedonic quartz).

The area of interest on Koster Dam is situated approximately 10 kilometers south of the former producing Blackdome Mine which is developed on a volcanic hosted epithermal deposit of Eocene age that was in production from 1986 to 1991 during which time it produced 225,000 ounces of gold and 547,000 ounces of silver. One of the challenges and opportunities at Koster Dam is that, while mineralization at the Blackdome Mine outcrops in steep terrane at an elevation of approximately 7,000 feet, Koster Dam is situated on the same volcanic complex in a relatively flat landscape at a much lower elevation and is predominantly till covered. The climate is semiarid and the property is road accessible from the city of Williams Lake, B.C. 80 kilometers to the north.