MegumaGold Corp. announced that drilling has started at the Caribou gold project ("Caribou" or the "Project"). Maritime Diamond Drilling Ltd. of Brookfield, Nova Scotia has mobilized their EF-50 rig to the property last week to begin a minimum 600m multi-hole drilling program. The Project consists of 16 contiguous mining claims (256 hectares) located 80 km northeast of Halifax, Nova Scotia and is approximately 12 kilometers on existing roads from St Barbara Minerals Moose River Consolidated operating mill. Nova Scotia government records for the Caribou Gold District indicate that the area produced slightly over 100,000 ounces of gold between 1869 and 1955. The main styles of gold mineralization currently defined is in the area of the past-producing Holman Mine. This was the large historical mine in the Caribou Gold District and was operated by Consolidated Mining and Smelting Ltd. (Cominco) between 1932 and 1947. The main source of gold production was a plunging quartz stockwork zone developed over a vertical distance of approximately 220 meters and along a length of approximately 400 meters. Subsequent exploration by Seabright Exploration Inc. in the 1980's identified additional parallel, gold-bearing stockwork zones that to date have not been fully delineated by drilling. A northwest-trending structural corridor that crosses the northeast-trending Caribou Anticline controls the location of the plunging stockwork zones. Cominco also mined several bedding-parallel quartz veins, the most notable of which was the "High Grade Vein". The reported average gold grade during Cominco's production period is ~14 g/t. Mercator Geological Services Limited of Dartmouth, Nova Scotia completed a geological modelling of the Project using a Seequent-Leapfrog® digital geological modeling program. The Project's historical drilling database, underground sampling results, and a digital model of historical mine workings were combined in a 3D geological model which aided the determination of drilling targets.