Caribou Acquires Property in Ontario With High Visual Graphite Content in Historic Drill Intercepts

CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company") (TSX
VENTURE:CKR)(FRANKFURT:CB8) announces that it has acquired the Pito graphite
property, with a historic drill intercept of 90% graphite over eighteen meters.
In the late 1970s Shell Canada Resources Ltd. drilled a north-directed hole at
60 degrees inclination that intercepted graphitic schist from 107.9-126.58
meters. As reported in the drill log, graphite forms 90% of schist over the
18.68 meter interval. After passing through roughly four meters of
quartzite/chlorite schist, an additional 19.78 meters of graphitic schist was
intercepted from 130.28-150.0 meters that is reported to be less silicified,
resulting in zones of soft graphite (see Ontario Ministry of Northern
Development and Mines, Report 42F15NE8019). An estimate of true thicknesses is
not determined from the historic drilling, and the graphite intercepts are
visual historical intercepts and should not be relied upon without lab assay
confirmation. The total depth of the drillhole was 182.70 meters. 


The Pito property is located 80 kilometers northwest of Hearst, Ontario, and
consists of 96 units covering 1,536 hectares (3,840 acres). Twenty kilometers to
the east, the Albany East graphite deposit that is presently under advanced
exploration by Zenyatta Ventures Ltd. has reported five holes with 146m of 5.2%
Cg, 177m of 5.3% Cg, 186m of 4.9% Cg, and 125m of 4.6% Cg, respectively (see
Zenyatta Ventures news releases, July 2, 2013). 


CEO Michael England states, "The Pito property represents an area with
significant historic graphite values that, though visual in nature, are
extremely intriguing and worthy of follow-up. We are presently reviewing all of
the available historical data with the objective of making a property visit in
the coming weeks." 


To acquire a 100% interest in the property, Caribou will issue a cumulative 5
million shares and incur expenditures of $600,000 over a 3 year period plus
grant a 2.5% NSR to the vendor, one % of which can be purchased back for
$1,000,000. This transaction is subject to TSX Venture approval. 


The technical contents of this release were approved by Dr. Tom E. McCandless,
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.
McCandless has not verified the technical data disclosed in this release. 


For more information, visit the website at www.caribouking.com. 

ON BEHALF OF THE BOARD  

Michael England, CEO, Caribou King Resources Ltd. 

Forward-Looking Statement: 

Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Caribou
King Resources Ltd. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Caribou King Resources Ltd.
Michael England
CEO
1-604-683-3995 or Toll Free: 1-888-945-4770
www.caribouking.com

Caribou King Resources Ltd. (TSXV:CKR)
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