Independence Gold Provides an Update on the Winter Drill Program at the 3Ts Project, BC

Rhea-AI Summary

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) has initiated a winter drilling program at its 100% owned 3Ts Project in British Columbia. The project, located 185 km southwest of Prince George and 16 km from Artemis Gold's Blackwater Project, covers approximately 8,840 hectares. The $3.5 million program includes minimum 7,500m of diamond drilling, with six infill holes already completed along Ted-Mint and Tommy Vein Systems. Future drilling will target the Ian and Johnny vein systems, plus untested targets including Ootsa, Balrog and Alf veins. Surface sampling of Alf veins has yielded up to 8.07 g/t gold and 258 g/t silver. The program is scheduled through winter into spring 2025.

Positive

• Completion of initial infill drilling ahead of schedule and under budget
• High-grade surface samples from Alf veins showing up to 8.07 g/t gold and 258 g/t silver
• Significant $3.5 million funded drilling program of 7,500m underway

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - November 19, 2024) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company" or "Independence") is pleased to provide an update on the winter drilling program currently underway at its 100% owned 3Ts Project. The 3Ts Project is located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and is comprised of seventeen mineral claims covering approximately 8,840 hectares in the Nechako Plateau region of central British Columbia. The project is situated 16 km southwest of Artemis Gold Inc.'s Blackwater Project and covers a low-sulphidation epithermal quartz- carbonate vein district within which more than sixteen individual mineralized veins, ranging from 50 metres ("m") to more than 1,100 m in strike length and with true widths up to 25 m have been identified.

The winter drill program includes a minimum of 7,500 m of diamond drilling with an estimated budget of approximately $3.5 million. The drill plan includes six infill holes along the Ted-Mint and Tommy Vein Systems for a total of 1,200 m, which will be incorporated into the 43-101 resource that was previously updated in 2022 (see report titled "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Armitage and Miller, effective August 18th, 2022; please see news release dated August 18th, 2022 for further details). Due to favourable conditions at the project, including unseasonably mild weather, these infill holes have now been completed and samples are being sent to the lab for analysis. Future drilling will further test more recently discovered targets such as the Ian and Johnny vein systems, which have shown early potential to host significant gold and silver grades. Additional drilling will focus on untested targets including Ootsa, Balrog and Alf veins. The Alf veins have been mapped over the past two years by the geological team and have returned grades up to 8.07 grams per tonne ("g/t") gold and 258 g/t silver. There are two distinct north-south trending veins, with the longest vein traced over 105 m and remaining open along strike and observed up to 2 m in width on surface.

Randy Turner, President and CEO of Independence, commented, "We are pleased that mild weather and careful preparation by the exploration team have resulted in a strong start to the winter drill program. Having the program be ahead of schedule and under budget will enable continued success at 3Ts."

The drill program is scheduled to run through the winter and into spring 2025.

Please refer to the website for a map showing the veins and sample locations.

About Independence
Independence Gold Corp. is a well-financed mineral exploration company with holdings ranging from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. The Company is positioned to add shareholder value through systematic project advancement, while management continues to evaluate additional gold and silver projects for possible acquisition. For additional information, visit the Company's website www.ingold.ca.

Andy Randell, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.

ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.

"Randy Turner"

Randy Turner, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company's planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Independence's public filings under Independence Gold Corp.'s SEDAR profile at www.sedarplus.ca. Although Independence has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Independence disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230548

FAQ

What is the size and budget of Independence Gold's (IEGCF) winter 2024 drilling program at 3Ts?

The winter drilling program includes a minimum of 7,500 meters of diamond drilling with an estimated budget of $3.5 million.

What are the latest gold and silver grades reported from the Alf veins at Independence Gold's (IEGCF) 3Ts project?

Surface sampling from the Alf veins has returned grades up to 8.07 g/t gold and 258 g/t silver.

When is Independence Gold's (IEGCF) current drilling program at 3Ts scheduled to end?

The drill program is scheduled to run through the winter and into spring 2025.