Total Inferred Resources Increase To 522,330 Ounces Gold And 13,831,415 Ounces Silver

VANCOUVER - Independence Gold Corp. reported on the updated National Instrument (NI) 43-101 compliant inferred resource calculation for the 3Ts Project, located approximately 185 kilometers (km) southwest of Prince George, British Columbia. The new numbers contain an in-pit component and an underground component, each at the calculated cut-off grades from the optimization parameters. The combined in-pit and underground components of the Tommy and Ted-Mint vein systems contain a total inferred resource estimate of 4,469,297 tonnes grading 3.64 grams per tonne ("g/t") gold and 96.26 g/t silver, at a cut-off grade of 0.4 g/t gold equivalent ("AuEq") in-pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver. The previous resource estimate contained a total inferred resource estimate of 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver, at a cut-off grade of 1 g/t gold, containing 441,000 ounces of gold and 12,540,000 ounces of silver in the Tommy and Ted-Mint veins systems combined.

Drill data that had been collected during campaigns between 2020 and 2022 were used to update the model, with an additional five drill intercepts being added at the Tommy Vein, eight at the Ted vein and eight at the Mint vein. The project is underlain by a near-horizontal microdiorite sill which bisects the vein systems into an upper and lower portion. The upper portion of the veins above the sill have been modeled as in-pit resources, while the vein extensions below the sill are considered as an underground resource.

Randy Turner, CEO, said, “We are pleased with the updated inferred resource which has demonstrated an increase in gold and silver grades and ounces since the last review. This coupled with the 2021 metallurgical results are extremely positive indicators for the 3Ts Project. We look forward to continuing exploration on the project and advancing it further."