VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2012) - CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company") (TSX VENTURE:CKR)(FRANKFURT:CB8) is pleased to announce it has acquired two groups of claims in B.C. adjacent to both Barkerville Gold Mines Ltd. and Gold Reach Resources Ltd. ("Gold Reach").
The contiguous claims adjoining Gold Reach cover 1,800 hectares and are situated on the northeast boundary of their 100%-owned Ootsa Property. Gold Reach recently announced the addition of a third drill rig to its drilling program currently underway at its West Seel Deposit, located in the Ootsa Property and also adjacent to the producing Huckleberry Copper Mine in British Columbia (see Gold Reach news release dated June 26, 2012).
The contiguous ground adjacent to Barkerville Gold Mines property is 980 hectares in size and sits on the northwest boundary of the known gold deposit (see Barkerville Gold Mines news release dated June 30, 2012).
For 100% ownership in the properties the Company will pay $10,000 cash and issue 400,000 shares upon TSX Venture approval.
Caribou King's mission is to identify, acquire, and advance high potential base and precious metal prospects. For more information visit the website at www.caribouking.com.
ON BEHALF OF THE BOARD
Michael England, CEO, Caribou King Resources Ltd.
Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Caribou King Resources Corp. Actual results may differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.