Caribou King Resources Ltd.
TSX VENTURE : CKR
OTCBB : CBULF

Caribou King Resources Ltd.

November 18, 2013 09:09 ET

Caribou King Resources Ltd.: Grab Samples Assay Over 81% Cg at Buckingham Graphite Property, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2013) - Caribou King Resources Ltd. ("Caribou" or the "Company") (TSX VENTURE:CKR)(OTCBB:CBULF) is pleased to announce assay results from multiple new graphite vein and large flake discoveries at its Buckingham graphite property. Total graphite contents up to 81% Cg were obtained in grab samples collected from subcrops detected through Beep Mat surveys that were recently conducted on the property (see news release November 12, 2013).

The seven samples were collected from the southeastern area of the property and consist of white to light grey pegmatites composed of feldspar with 5-10% mafic minerals. Graphite is present within the pegmatite both as irregular zones and as veins of mm to cm scale thickness. Assay results and UTM coordinates for the seven samples are summarized in the table below.

Sample Easting* Northing % Cg
W1138477 460772 5052954 81.1
W1138479 461003 5052869 79.2
W1138480 460964 5052996 35.1
W1138483 460843 5053012 19.1
W1138478 460735 5053026 18.3
W1138481 460964 5052996 18.1
W1138482 460986 5052906 17.0
*Nad83, Zone 18N

The samples were treated at Actlabs (Ancaster, ON.) using protocol 5D-C, where they underwent drying, crushing with up to 90% passing through a #10 square-mesh screen, riffle splitting (250 g) and pulverizing to 95% passing a 105 micron square-mesh screen. Graphitic carbon (Cg) was determined by multistage furnace treatment and infrared absorption, with a 0.05% detection limit.

Michael England, CEO & Director states, "The Company is very pleased with these exceptional graphite assays. Buckingham is a strategic acquisition, located only 750 meters from the Walker Graphite Mine which produced graphite from 1876 to 1920. To obtain high values at such an early stage of exploration is a great indication of upside for the property. Immediate follow-up work is being planned for Buckingham, to expand on these results as well as to investigate other unsampled anomalies on the property."

The technical contents of this release were approved by Dr. Michel Boily, P. Geo., qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report, and Dr. Boily has not verified the technical data disclosed in this release.

About the Buckingham Project

The Buckingham property is comprised of eight claim blocks totaling 480 hectares, situated in southwestern Quebec in the Central Metasedimentary Belt of the Grenville Geologic Province. Graphite occurs in veins and within pegmatite, diopside skarn, marble and gneiss. The region is known for its graphite deposits that were mined periodically from 1875 to 1920 and delivered graphite of exceptional quality. Buckingham is situated approximately at the western limit of historic Walker Graphite Mine, which extracted 816 tons of both disseminated flaky graphite and vein-type (lump) graphite. Vein-type graphite is the most valuable with large-size flake graphite having the highest price of the flake types. At the main test pit of Walker Mine, situated some 750 meters east of Buckingham property, disseminated graphite occurred in gneiss, in proportions up to 25% and was described as affording a very high percentage of large flakes (F. Cirkel, 1907, Mining Division of Canada, Ottawa Department of Mines, 306p.). Recent work by the Company has identified new conductors on the southeastern portion of the property in close proximity to the historic Walker Graphite mine. Similar geology is shared throughout the area and follow-up EM surveys and drilling are planned to test these highly anomalous areas.

About Caribou King Resources

Caribou King Resources Ltd. (TSX VENTURE:CKR) is a publicly-listed, Canadian junior exploration company that holds a portfolio of highly prospective mineral properties located throughout Canada, including its seven newly-acquired graphite projects. These include: Mulloy and Nezen in Ontario that are near to or adjoin the Zenyatta Ventures Ltd. Albany graphite project; TAC in Quebec with historic drilling including 9.86% Cgf over 46.75 meters; Lac Vert in Quebec with graphite intersections in three historic drillholes; Calumet in Quebec that is contiguous to the Canada Carbon (TSX VENTURE:CCB) Miller hydrothermal lump-vein graphite project; Buckingham that is located 750 meters west of the historic Walker Graphite Mine; St. Aime property that is contiguous with the Timcal Graphite Mine, currently Canada's only producing graphite mine. Caribou is advancing each of these projects through multiple active exploration programs now underway.

On Behalf of the Board of Directors

CARIBOU KING RESOURCES LTD.

Michael England, CEO and Director

"Neither 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."

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

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