The Cariboo property is located approximately 8 kilometres south of Nelson.

The property is underlain by the Elise and Hall Formations of the Lower Jurassic Rossland Group and located within the southward-plunging and overturned Hall Creek syncline, along mineralized structures related to the Silver King shear zone.

The occurrence lies along the Silver King Shear Zone, the core of a fold of the Hall Creek syncline. The shear zone extends over 1000 metres in width. The area contains abundant sericite, chlorite, quartz, carbonate, hematite, and epidote alteration in discrete to pervasive zones.

Shear-hosted hydrothermal veining, mineralization and quartz-stockwork occur within the fine-grained clastic rocks of the Lower Jurassic Hall Formation, which overlies the Elise Formation volcanics, consisting of fine-grained metasediments. The metasediments of the Hall Formation are hydrothermally altered and display intense sericitization, chloritization and iron-carbonate alteration with manganese spotting and silicification. Mineralization occurs within shear hosted quartz veins as pyrite, arsenopyrite, chalcopyrite, galena, tetrahedrite, gold and silver minerals.

In 2001, Sultan Minerals conducted a small drilling program of one hole targeting the occurrence. Mineralization was intersected over 2.14 metres grading 2.57 grams per tonne gold, 23.9 grams per tonne silver, and anomalous lead and zinc values (Dandy, L. (2011-04-08): Technical Report on the Silver King Property).

In 2002, Sultan Minerals Ltd. completed a soil geochemistry survey and trench sampling on the Cariboo property. Highlights include trench sample BCB-9, which assayed 24.86 grams per tonne gold and 53.6 grams per tonne silver (Assessment Report 27240).

In 2007, Excalibur Resources Ltd. entered into an option agreement with Arbutus Resources Ltd for the Silver King (MINFILE 082FSW176) property and an option agreement with Mr. Tom Cherry for an additional five mineral claims, which included the adjacent Cariboo property.

In 2011, Excalibur Resources Ltd. conducted geological mapping, rock sampling and trenching. Eight trenches were excavated totaling 123 metres, and 173 rock samples were collected from the area around the Grizzly and Cariboo adits. Highlights include a 3 metre chip sample taken from Trench 8 that assayed 5.09 grams per tonne gold and 60 grams per tonne silver (Assessment Report 32818).

In 2012, Excalibur Resources Ltd. completed two trenches and 29 diamond drillholes totaling 1469 metres. Highlights of the drill program include drillhole 12Car-16, which returned 1.3 metres grading 11.1 grams per tonne gold and 92 grams per tonne silver (Press Release, Excalibur Resources Ltd., November 29, 2012).