“The strategic shift towards clean energy fuels, such as uranium, comes as a result of an extensive evaluation of opportunities to drive shareholder value” commented Jeremy Poirier, CEO and Director of Golden Independence Mining Corp. “The current market fundamentals for uranium, highlighted by multi-decade highs in spot uranium prices coupled with a systemic market supply shortage, highlights the prospectivity of uranium projects and reinforces the decision to gain exposure to this market. Conversely, despite spot gold prices trading near historic levels around US$2,000 per ounce, gold-focused equities trade at the lower range of historical market valuations. While we believe our gold assets hold significant value in the long-term, we feel the diversification of commodity exposure allows shareholders to capture near-term value.”

Wray Mesa Uranium Project, Utah (Option to Acquire 90%)

The Wray Mesa project is comprised of 308 unpatented lode claims totalling 6,282 acres located in San Juan County, Utah. The project was the subject of extensive historical exploration, including the drilling of over 500 holes, with mineralization ranging from 25 to 75 feet thick at depths of 500 to 700 feet. Mineralization is typical sandstone-hosted tabular deposits wherein the uranium occurs in reduced and altered sandstones and sandstone-mudstones in major stream channels in the Upper Salt Wash Member of the Morrison Formation. The property is contiguous to and adjoins Energy Fuel Inc.’s (EFR-T, UUUU-NYSE) fully permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012). The Company has the option to acquire up to a 90%-interest through staged cash and share payments in addition to exploration commitments. The Company is reviewing all the historical data to prioritize targets prior to finalizing an exploration program. The Company cautions investors that the presence of mineralization at the La Sal project is not necessarily indicative of similar mineralization at the Wray Mesa project.

Independence Gold Project, Nevada (51% Interest and Operator)

The Independence project is comprised of 14 unpatented BLM claims and 60 millsite claims covering 640 acres, residing entirely within the permitted Plan of Operations of Nevada Gold Mines’ (Barrick-Newmont JV) Phoenix Mine. Since acquiring the project in 2020, the Company has delivered multiple resource estimates outlining both a near-surface, open-pittable resource in addition to a high-grade skarn resource. In late 2021, the Company completed a Preliminary Economic Assessment for the near surface resource which outlined life-of-mine (LOM) production of 195,443 ounces of gold plus 1,281,420 ounces of silver at an AISC of US$1,078 and an after-tax NPV_5% of US$45 million and IRR of 22% at US$1,799/oz gold and US$22.47/oz silver. More recently, the Company has outlined a follow-up exploration and resource expansion drill program targeting the Rebel Zone for which all permits have been received and all preliminary earthworks have been completed. Golden Independence cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

Napoleon Gold Project, BC (100% ownership)

The Napoleon project is comprised of 7,828 acres of contiguous claims with no underlying royalties or obligations within the Kamloops Mining Division of British Columbia. An initial exploration program comprised of rock sampling and prospecting was met with overall success, specifically identifying similar geology and mineralization to that of the Bonaparte high-grade deposit located adjacent to the claims. Exploration within the region dates back to the 1970’s and 1980’s with the discovery of gold mineralization in several clusters of quartz vein float material over a diorite intrusion with grades varying from 3.4 to 547 g/t gold. The adjoining Bonaparte deposit has been extensively explored including underground development, open pit mining, and a bulk sampling which yielded grades of 26.5 g/t gold from a 3,700 metric tonne bulk sample.

HY-Jay, VBA and VM Gold Projects, Yukon (100% ownership)

The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

The HY-JAY project is comprised of 198 claims covering an area of 10,156 acres located on the NW corner of Seabridge Gold’s 3 Aces project and adjoins Stratabound Mineral’s Golden Culvert project to the west. Prior exploration has outlined three areas of anomalous gold in rock and soil (the Zig Zag, East Ridge and West zones), all of which occur in a similar geologic setting to those reported at the adjoining 3 Aces project.

The VM project is comprised of 104 claims covering approximately 5,337 acres located 20 kilometres northwest of the HY-Jay project. The VBA project is comprised of 80 claims covering an area of 4,102 acres located 45 kilometres northwest of the HY-Jay project. Both the VM and VBA projects were originally staked to cover stream drainages highlighted by favorable geology and coincident arsenic and/or gold anomalies identified from regional geochemical surveying.

Fraser Lake Copper Project, BC (49% Interest, Under Option)

The Fraser Lake project is comprised of three claim blocks totalling 24,463 acres located proximal to the Quesnel Trough of Central British Columbia. The Company acquired the project through direct staking based on the geology and location supported significant copper molybdenum porphyry prospectivity. The Optionee has acquired a 51% interest through the issuance of 1.0 million shares and incurring $100,000 in exploration expenditures and may acquire the remaining 49% interest through the issuance of an additional 2.0 million shares and $200,000 in exploration within 18 months of acquiring the initial 51% ownership. In addition, the Company retains a 2% NSR royalty on the project of which 1% can be repurchased for $2.0 million in cash.

The technical content of this news release has been reviewed and approved by Warren Robb, PGeo (BC) a Qualified Person under NI43-101 and a Director and the VP of Exploration of Golden Independence Mining Corp.

Completion of the Name Change remains subject to the approval of the Canadian Securities Exchange. The Company will issue a further news release announcing the effective date of the Name Change and the new CUSIP number for the Company’s common shares.

About Golden Independence Mining Corp.

Golden Independence Mining is a multi-commodity development company focused on advancing the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia, and a package of gold claims in the Yukon. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

Golden Independence cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Golden Independence further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ‎and there has been insufficient exploration to define these inferred Mineral Resources as ‎indicated Mineral Resources.

Golden Independence cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier, Chief Executive Officer
Telephone: 1.604.722.9842 Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the future exploration or development potential of any of the Company’s projects, completion of the Name Change and future acquisitions in the uranium space. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

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“We are excited to welcome Mr. Warren Robb to the Board,” commented Jeremy Poirier, Chief Executive Officer. “Warren’s extensive exploration experience not only in multiple commodities but in numerous continents is a tremendous asset to the Company and Board as we navigate new opportunities.”

Mr. Robb has over 35 years of mineral exploration experience with Senior and Junior mining companies throughout Canada, the United States, China, Africa and South America. He managed exploration programs for precious and base metal and diamond projects ranging from early exploration through to reserve definition and operating mines. Notable senior positions include VP of Exploration for Nexus Gold from 2015 to present, VP Exploration for WPC Resources (now Bluestar Gold) from 2012 to 2020, Chief Geologist for Roxgold Inc. in 2012, VP of Exploration for TTM Resources from 2007 to 2011, Country Manager for Majestic Gold Corp. from 2003 to 2005, and an Officer of Trivalence Mining Corp. from 1997 to 2002. Mr. Robb earned a Bachelor of Science in Geological Sciences from the University of British in 1987 and has been a registered Professional Geoscientist since 1993.

In connection with his appointment, Mr. Robb has been granted 100,000 stock options and 25,000 Restricted Share Units.. The stock options have an exercise price of C$0.38 per share and will expire five years from the date of grant.

About Golden Independence Mining Corp.

Golden Independence Mining is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez trend of Nevada, the Wray Mesa uranium-vanadium project in Utah, in addition to the wholly owned Napoleon gold project located in the Kamloops mining division of British Columbia and Yukon gold claims in the Watson Lake district of the Yukon. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

Golden Independence cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Golden Independence further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ‎and there has been insufficient exploration to define these inferred Mineral Resources as ‎indicated Mineral Resources.

Golden Independence cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier, Chief Executive Officer
Telephone: 1.604.722.9842 Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the exercise of the option under the Option Agreement and the future exploration and development potential of the Wray Mesa project. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

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The Wray Mesa project is comprised of 308 unpatented lode claims totalling 6,282 acres located in San Juan County, Utah. The property is accessible via Utah State Highway 46 and unpaved Forest Service Roads, with access to power, water and proximal to the town of La Sal. The property is contiguous to and adjoins Energy Fuel Inc.’s fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012). The La Sal project is host to Measured & Indicated resources of 4.1 Mlb of uranium (U3O8) plus 21.5 Mlb of vanadium (V2O5) plus Inferred resources of 0.4 Mlb of uranium plus 1.9 Mlb of vanadium (source: Technical Report on the La Sal District Project, prepared for Energy Fuels Inc. by D.C. Peters and dated March 25, 2014.). The Company cautions investors that the presence of mineralization at the La Sal project is not necessarily indicative of similar mineralization at the Wray Mesa project.

“With the recent resurgence of uranium prices to over US$70 per pound, representing 10-year highs, and the global push towards clean energy, this has created a resurgence in the prospectivity of conventional uranium deposits within the USA that had been overlooked during a depressed spot price environment,” commented Jeremy Poirier, CEO of Golden Independence. “The ability to acquire a majority interest in an advanced-stage uranium project which has benefited from extensive past exploration and drilling located within a Tier-1 jurisdiction provides an exciting opportunity for shareholders to gain exposure to the growing energy trend while maintaining a Tier-1 portfolio for both gold and uranium.”

“With Basin Uranium’s focus firmly shifted towards it’s Chord project in South Dakota, this agreement allows the project to advance while still providing the Company exposure to an exciting uranium district in Utah,” commented Michael Blady, CEO of Basin Uranium. “We look forward to working with the Golden Independence team as the project operator under the initial earn-in agreement to advance the understanding of the project and better define the areas of historical mineralization. Given the significant appetite for advanced-stage uranium assets in safe jurisdictions combined with support from the US Government in advancing clean energy security, this allows both companies to benefit from this pivotal time in the global energy transition.”

Wray Mesa Project Overview

• Uranium and vanadium production in the district dates back to the early 1900’s with the majority of the production derived from the Upper Salt Wash Member of the Morrison Formation (the ‘Formation’).
• Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for the majority of production in the district (Upper Salt Wash Member of the Morrison Formation).
• Mineralization on the property occurs at depths of 500 to 750 feet with the drill-defined mineralization ranging from 25 to 75 feet. Mineralization is typical sandstone-hosted tabular deposits wherein the uranium occurs in reduced and altered sandstones and sandstone-mudstones in major stream channels in the Formation.
• Historical work dates back to Atlas Minerals and Pioneer Uravan in 1976 to 1983, who drilled a total of 495 exploration holes (of which logs for 193 holes totaling 137,510 feet or 41,913 metres were preserved), and Homeland Uranium in 2007-2008 who drilled 15 holes. Note: some of the historical drilling was on 3rd party claims not currently owned.
• Past exploration was primarily focused on the Dylan, Ajax, Whiskey and Carlin targets. All of the mineralized areas are open to expansion. Historic drill data is not available for Carlin:
  • Ajax: most heavily drilled and tightest spacings with some holes 25 to 50 feet apart. A total of 164 historic holes drilled which defined mineralization a 1,200 by 25-75 metre area. Thirty (30) holes returned grades in excess of 0.1% eU3O8.
  • Dylan: best defined with drilling on a 100 by 100-foot grid. Thirty-nine holes were drilled in 1976 to 1983 with follow-up drilling in 2007 which defined mineralization over a 500 by 40-100 metre area. Seven (7) holes returned grades in excess of 0.2% eU3O8, with highlight grades of 2.5% eU3O8 over 2.6 feet.
  • Whiskey: A total of 29 holes drilled at 100-foot spacings with a number of holes intersecting significant mineralization and defining an area of 400 by 10-70 metres. Highlights of drilling included 0.98% eU3O8 over 5 feet. Further follow-up and more systematic drilling is required.
  • Carlin: While complete historical records are unavailable, based on limited data mineralization was defined over a 150 by 20-70 metre area.

Figure 1: Wray Mesa Property Map

Transaction Terms

Under the terms of the Option Agreement between the Company and Basin Uranium Corp. (CSE: NCLR), the Company will have the right to acquire up to a 90%-interest in the project through staged cash, share and work commitments. To earn an initial 51% interest in the project, the Company must pay C$50,000 in cash and issue 300,000 shares within five days of approval of the Canadian Securities Exchange and incur US$250,000 in exploration within the first year, in addition to paying C$100,000 in cash, issuing C$250,000 worth of stock and incurring US$500,000 of exploration by the end of the second year. Once the 51% earn-in has been completed, the Company has the option to earn an additional 20% interest (for a total of 71%) through an additional payment of C$75,000 in cash plus issuing C$250,000 worth of stock and incurring US$1,000,000 in exploration by the end of the third year. Assuming the completion of a 71% earn-in, the Company can earn a further 19% interest (for a total of 90%) through the payment of C$75,000 in cash plus issuing C$250,000 worth of stock and incurring US$1,000,000 in exploration by the end of the fourth year. Once the Company has earned a 90% interest in the project, Basin Uranium Corp. will have a free carried 10% interest in the project.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director and President of Golden Independence Mining Corp. and a Qualified Person under National Instrument 43-101.

About Golden Independence Mining Corp.

Golden Independence Mining is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops mining division of British Columbia. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28M tonnes at 0.41 g/t gold) and an inferred resource of 847,000 ounces (9M tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2021 preliminary economic assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold.

Golden Independence cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Golden Independence further cautions investors Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability and further cautions investors the quantity and grade of the reported inferred Mineral Resources are uncertain in nature ‎and there has been insufficient exploration to define these inferred Mineral Resources as ‎indicated Mineral Resources.

The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier, Chief Executive Officer
Telephone: 1.604.722.9842 Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the exercise of the option under the Option Agreement and the future exploration and development potential of the Wray Mesa project. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

The post Golden Independence Announces Option to Acquire Wrey Mesa Uranium Project appeared first on Golden Independence Mining Corp..

In addition, the Company currently has two applications for water rights with the State of Nevada Division of Water Resources to support mining and production activities for the Independence project. The application process consists of 1) filing an application with supporting documents and payment of fees, 2) a ‘Map Table’ review, 3) sent for publication, 4) protest period, 5) Ready for Action (or “RFA”), 6) a hearing, if required, and 7) determination of action (approved with or without conditions or denied). Both of the Company’s permits are currently at the Ready for Action stage and are pending approval. The Company remains optimistic about a favorable outcome as water rights were previously granted for this 480-acre parcel of land (referred to as “Section 17” as first announced on November 19, 2020) in 2013 by the State Engineer of Nevada.

“We eagerly await the results from our exploration program at the Rebel Zone which will guide future exploration and development drilling to expand the project’s scope” commented Jeremy Poirier, CEO of Golden Independence. “The securing of water rights in the Buffalo Valley River Basin represents a significant de-risking milestone for the eventual development and operation of a heap-leach operation at Independence.”

Golden Independence cautions investors grab samples are by their nature select samples and may not necessarily be indicative of similar mineralization elsewhere on the property.

The Independence project is a joint venture between Golden Independence Mining Corp. (the “Company”) and Americas Gold Exploration Inc., with the Company being the operator and majority owner.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director and President of Golden Independence Mining Corp. and a Qualified Person under National Instrument 43-101. Figure 1: Image Showing Independence Project Relative to NGM’s Phoenix Mine

Figure 1: Image Showing Independence Project Relative to NGM’s Phoenix Mine

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier,
Chief Executive Officer

Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Napoleon project.. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

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“We look forward to being able to get boots on the ground and advancing a meaningful exploration program for the Napoleon project” commented Jeremy Poirier, CEO of Golden Independence. “The Napoleon project represents only one of the exciting exploration projects within the Company’s portfolio, along with the development-stage Independence project in Nevada which is currently undergoing preliminary site preparation in advance of a resource expansion drill program. We also recently attained a portfolio of highly prospective gold projects covering almost 8,000 hectares within the Upper Hyland River Gold Belt of the Yukon.”

About the Napoleon Project

The Napoleon property occurs along the same northwest trending erosional exposure through Chilcotin basalts as the Bonaparte Mine. The Bonaparte Mine, located to the southeast, is comprised of several en echelon high-grade gold-bearing quartz veins with similar intrusive rocks mapped within the Napoleon property. Exploration within the region dates back to the 1970’s and 1980’s with the discovery of gold mineralization in several clusters of quartz vein float material over a diorite intrusion with grades varying from 3.4 to 547 g/t gold[1]. The adjoining Bonaparte deposit has been extensively explored including underground development, open pit mining, and a bulk sampling which yielded grades of 26.5 g/t gold from a 3,700 metric tonne bulk sample[2].

Golden Independence cautions investors it has yet to verify the historical information and further cautions mineralization on the Bonaparte deposit is not necessarily indicative of similar mineralization on the Napoleon Gold Project.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (BC) a Qualified Person under NI43-101 and a Director and the President of Golden Independence Mining Corp.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC and Yukon gold claims in the Watson Lake district of the Yukon. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier,
Chief Executive Officer

Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Yukon Claims. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

[1] ARIS 32930 BC Geological Survey Assessment Report

[2] Bonaparte Gold Technical Report dated April 12, 2019

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“We are excited to commence with the first phase of a planned multi-phase exploration program at the Napoleon project” commented Jeremy Poirier, CEO of Golden Independence. “Given the significant infrastructure and year-round property access, we would be able to quickly advance the project on the back of a successful exploration program.”

The Napoleon property occurs along the same northwest trending erosional exposure through Chilcotin basalts as the Bonaparte Mine. The Bonaparte Mine, located to the southeast, is comprised of several en echelon high-grade gold-bearing quartz veins with similar intrusive rocks mapped within the Napoleon property. Exploration within the region dates back to the 1970’s and 1980’s with the discovery of gold mineralization in several clusters of quartz vein float material over a diorite intrusion with grades varying from 3.4 to 547 g/t gold[1]. The adjoining Bonaparte deposit has been extensively explored including underground development, open pit mining, and a bulk sampling which yielded grades of 26.5 g/t gold from a 3,700 metric tonne bulk sample[2].

Golden Independence cautions investors it has yet to verify the historical information and further cautions mineralization on the Bonaparte deposit is not necessarily indicative of similar mineralization on the Napoleon Gold Project.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (BC) a Qualified Person under NI43-101 and a Director and the President of Golden Independence Mining Corp.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC and Yukon gold claims in the Watson Lake district of the Yukon. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier,
Chief Executive Officer

Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Yukon Claims. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

[1] ARIS 32930 BC Geological Survey Assessment Report

[2] Bonaparte Gold Technical Report dated April 12, 2019

The post Golden Independence Announces Exploration Program for Napoleon Project appeared first on Golden Independence Mining Corp..

“The acquisition of these claims for no material consideration represents an accretive transaction which provides optionality on an emerging gold district in the Yukon” commented Jeremy Poirier, CEO of Golden Independence. “While we are currently aggregating all the historical exploration data from these projects in order to determine the best next steps forward for the projects, as there are a number of very prospective high-grade samples that have not previously been followed up on.”

Figure 1: Regional Map Showing Location of Projects

HY-Jay Project

The HY-Jay project is comprised of 198 claims covering an area of approximately 4,110 hectares located on the northwest corner of Seabridge Gold’s 3 Aces project and adjoins Stratabound Mineral’s Golden Culvert project to the west. Prior exploration has outlined three areas of anomalous gold in rock and soil (the Zig Zag, East Ridge and West zones), all of which occur in a similar geologic setting to those reported at the adjoining 3 Aces project. The West zone is characterized by a 1.4 kilometre north-northwest trending anomaly, with the East Ridge zone spanning some 0.9 kilometres-long located 800 metres east of the West Zone. Previous exploration at the West and East Ridge zones returned values greater than one gram per tonne gold from quartz veins hosted in metasediments, with one highlight value returning 144 g/t gold. Sampling from the Zig Zag zone returned significant gold assays from grab samples of quartz-arsenopyrite vein material collected from a large field of metasediment and phyllite sub-crop and float boulders, with results from seven grab samples ranging from 2.19 g/t gold up to a maximum of 47.0 g/t gold. (Source: Bearing Resources Ltd. News Releases dated 2011-Nov-24 and 2016-Nov-08)

The project has seen limited historical drilling with one three-hold program totalling 232-metres completed in 2005. The project is comprised of 48 claims for the HY project, which was acquired from Freeport-McMoRan Exploration in 2011 and the balance of the 150 claims were acquired through staking by Bearing Resources Ltd. A 2% net smelter royalty (“NSR”) in the favor of Freeport remains on the HY claims, which can be reduced to a 1% NSR through a one-time payment of $1 million. The Jay claims are not subject to a royalty.

VM & VBA Projects

The VM project, comprised of 104 claims covering approximately 2,160 hectares, is  located 20 kilometres northwest of the HY-Jay project. The VM property was staked to cover two stream drainages highlighted by favorable geology and coincident gold and arsenic anomalous (greater than 95 percentile) government regional geochemical survey samples (sample 813102: 53 ppb Au & 50.8 ppm As; sample 813104: 41 ppb Au & 22.0 ppm As).

The VBA project is comprised of 80 claims covering an area of approximately 1,660 hectares located 45 kilometres northwest of the HY-Jay project. The VBA project was staked to cover drainages highlighted by an 824.4 ppm arsenic (greater than 99 percentile) government regional geochemical stream sediment survey anomaly (sample 811614). Results from preliminary work completed at VBA identified a number of multiple station, coincident gold (33 of 265 samples above 17 ppb with a high of 405 ppb gold) and arsenic (23 of 265 above 45 ppm with an high of 14,000 ppm arsenic) soil anomalies. (Source: Bearing Resources Ltd. News Release dated 2016-Nov-08)

The VBA and VM projects are located adjacent to Trailbreaker Resources’ Plateau project where drilling has intersected significant mineralization including 13.25 g/t gold over 17.5 metres at the Goldstack Zone and 7.6 g/t gold over 9.03 metres at the Gold Dome Zone. There are no underlying royalties associated with the VBA and VM claims.

Golden Independence cautions investors it has yet to verify the historical data and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC and Yukon gold claims in the Watson Lake district of the Yukon. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director and president of Golden Independence Mining and a qualified person under National Instrument 43-101.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier,
Chief Executive Officer

Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Yukon Claims. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

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EMC is a third-party marketing firm retained by the Company to provide communications and media services and to amplify the distribution of Company news release content. Regarding the Material, the Company does not believe the statements were false or misleading, and notes that it provided EMC with publicly available sources of information and provides sign off on content.

On March 1, 2023 the Company also announced the engagement of MIC Market Information & Content Publishing GmbH (“MIC“) to provide marketing services, including digital content creation, distribution, and market awareness campaigns. Other than EMC and MIC, the Company has not engaged any other third-party providers to provide investor relations services, public relations services, marketing, or other related services including the promotion of the Company or its securities in the last twelve months.

The Company does not believe these marketing campaigns have resulted in any unusual trading activity, though they have resulted in more investors becoming aware of the Company and its activities, which could affect trading volumes.

The Company notes that, to its knowledge, after inquiry of management, no directors, officers or third-party service providers traded in the Company’s securities within the past 90 days. The Company notes that, according to publicly available filings, one shareholder owning 10% or more of the Company’s securities sold a total of 365,500 shares and purchased a total of 5,000 shares in the market. To the Company’s knowledge, this shareholder reported all acquisitions and dispositions in accordance with Canadian securities regulations.

Pursuant to a private placement the Company has issued the following shares and warrants that closed in March of 2023. The shares were issued at a discount to market pursuant to the private placement pricing policies of the Canadian Securities Exchange (the “CSE“) and all securities issued were restricted and subject to statutory hold periods.  The warrant exercise prices were at a premium to the market price at the time of grant and as such were not discounted.

On March 1, 2023, the Company closed a non-brokered private placement an issued a total of 7,076,353 units (each, a “Unit”) at a price of $0.31 per Unit for gross proceeds of $2,193,000. Each Unit consisted of one common share (each, a “Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant entitled the holder to purchase one additional common share at a price of $0.50 for a period of two years from the date of issuance. In connection with the Private Placement, the Company paid an aggregate of $70,401 in finders’ fees and issued 236,778 finders’ warrants (the “Finders’ Warrants“). The Finders’ Warrants have the same term as the Warrants.

The Company confirms that it has not issued convertible securities allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.

The Company is committed to compliance with the OTC Markets Group Policy on Stock Promotion and the OTCQB Standards. The Company encourages those interested in the Company to rely solely on information included in press releases issued and distributed by the Company via an approved dissemination service and its filings and disclosures made with the Canadian securities regulators and the CSE and available on their websites: www.sedar.com and www.thecse.com, respectively.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier
Chief Executive Officer

Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the exploration potential of its properties. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

The post Golden Independence Mining Responds to OTC Markets Request on Recent Promotional Activity appeared first on Golden Independence Mining Corp..

“We are excited to get back to an active exploration program at our Independence project in Nevada” commented Jeremy Poirier, CEO of Golden Independence. “Since tabling our Preliminary Economic Assessment (PEA) in December of 2021, the market for gold and gold-related equities has improved significantly – with the price of gold appreciating from US$1,800 to near all-time highs of over US$2,050 per ounce. This improved sentiment, coupled with significant opportunities to both refine and improve the resource and economics at Independence, allows for this exploration program to have a meaningful impact on the project’s valuation and attractiveness to peers.”

The Independence project is a joint venture between Golden Independence Mining Corp. (the “Company”) and Americas Gold Exploration Inc., with the Company being the operator and majority owner.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director and President of Golden Independence Mining Corp. and a Qualified Person under National Instrument 43-101.

Figure 1: Image Showing Independence Project Relative to NGM’s Phoenix Mine

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly owned Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.

——

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier
Chief Executive Officer
Telephone: 1.604.722.9842             
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Napoleon project.. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

The post Golden Independence Commences Earthworks Ahead of Upcoming Drill Program appeared first on Golden Independence Mining Corp..

“We have been able to significantly expand our exciting Napoleon project land position by almost 20%, with the new grounds demonstrating gold mineralization based on a thorough analysis of historical records” commented Jeremy Poirier, CEO of Golden Independence. “We are actively working to formalize an exploration program in the coming weeks which is facilitated by year-round project access and strong established infrastructure.”

The Company also announces an agreement with Emerging Markets Consulting, LLC (“EMC”) (Address: 390 North Orange Ave. Suite 2300, Orlando, FL, 32801; email: info@emergingmarketsllc.com; phone: + 321-206-6682) for marketing services for up to six months, commencing April 17^th, 2023 which is renewable or cancelable anytime within the term.

EMC will utilize their online programs with the aim of increasing investor awareness and attracting potential new investors through various online platforms and methods of engagement in consideration of US$150,000. The promotional activity will occur by YouTube, Twitter, Facebook, and Google. EMC is an arm’s length service provider and does not have any prior relationship with the Company.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the advanced-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the wholly-owned Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple-forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director and president of Golden Independence Mining and a qualified person under National Instrument 43-101.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier,
Chief Executive Officer
Telephone: 1.604.722.9842
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking information is subject to a number of risks and uncertainties and, as such, forward-looking statements are not guarantees of future performance of the Company. Forward-looking information in this news release includes, without limitation, statements regarding the commencement of the exploration program at the Napoleon project and the exploration potential of the Napoleon project.. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information in this news release, including without limitation, inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company’s most recently filed management’s discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

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