NEXU.CN · 2023-07-13 12:00:00

Golden Independence Completes Phase One Exploration Program at Napoleon Project

Exploration Programs

Golden Independence Completes Phase One

Exploration Program at Napoleon Project

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2023) - Golden Independence Mining Corp.

(CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NNA) (the "

Company

" or "

Golden Independence

") is pleased

to announce the completion of the first phase exploration program at the Napoleon project located in the

Kamloops Mining Division of British Columbia. The exploration program was completed by Tripoint

Geological Services during June and was comprised of rock sampling and prospecting. A total of 13

rock samples were collected and submitted to ALS Global for assaying with results expected over the

coming weeks.

In the southern portion of the Napoleon claims, the prospecting program at Napoleon located similar

intrusive to those hosting the Bonaparte deposit, along with vuugy quartz veins hosted in Nicola Group

rocks in the north, which represents a second potential host of mineralization.

"The initial exploration program met with overall success," commented Jeremy Poirier, CEO of Golden

Independence. "Particularly, the observation of similar geology and mineralization to that of the high-

grade Bonaparte mine to the southeast is highly encouraging and we await assay results to both confirm

observations and guide the next stage of exploration at the project."

In the southern portion of the claims closest to the Bonaparte mine, prevalent subcrop of quartz diorite

occurs hosting up to 5% disseminated pyrite and pyrrhotite which appears genetically similar to that

observed at the Bonaparte mine. The Company will be reviewing the subsequent phase of exploration

following the receipt of assay results.

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

. 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

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, P.

Geo (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:

[email protected]

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 receipt of positive assay results and the exploration potential of the Napoleon 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.