CaribGold Reports Third Quarter Results for 1999.

TOR0NTO--(BUSINESS WIRE)--Nov. 23, 1999--

CaribGold Resources Inc. (TSE:CG) reports a loss of US$105,883 for the nine months ended September 30, 1999 compared with a loss of US$513,204 in 1998. CaribGold ended the period with cash and short-term investments of US$2,072,512 (equivalent to approximately Cdn$3,043,300 or about Cdn$0.27 per share) based on 10,985,680 shares outstanding, and no debt.

  Expressed in US dollars
                                     9 months ended September 30
                                             1999           1998
                                             ----           ----
  REVENUE
  Investment income                     $ 119,518      $ 149,297
  EXPENSES
  General & Administrative Expenses       167,901        261,783
  General Exploration                      25,289        180,284
  Investment write down to market          32,211        220,434
                                           ------        -------
  Net loss for the period                (105,883)      (513,204)
                                         ---------      ---------
  Net loss per share                        (0.01)       $ (0.05)
  Weighted-average number of
  shares outstanding;                  10,985,680     10,482,222

Note: CaribGold has reviewed its activities to determine if any risk to its data or operations could arise from the failure of computer systems to function correctly in the year 2000. Management concluded that there is no substantial risk of failure that would have an impact on the Company's assets or operations. Although the company believes it has acted reasonably to minimize the Y2K risk, there can be no assurances the company will not experience disruptions from sources outside the Company's control.