Independence GOLD Announces Closing of $2.0M Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION INTO THE USA

NEWS RELEASE

INDEPENDENCE GOLD ANNOUNCES CLOSING OF $2.0M NON-BROKERED PRIVATE

PLACEMENT

Vancouver, B.C. (December 19, 2024) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the “Company”) is

pleased to announce that it has closed the non -brokered private placement announced December 12, 2024 (the

“Offering”). The Company issued 6,666,633 flow-through common shares (“FT Shares”) at a price of $0 .30 per FT

Share for total proceeds of $1,999,989.90 (the “Offering”).

The Company paid finder’s fee s of $ 95,999 cash and 159,997 non -transferable finders compensation warrants

(“Finder’s Warrants”) in connection with the distribution of FT Shares to arm’s length subscribers. Each Finder’s

Warrant entitles the holder to purchase one common share of the Company at a price of $0. 30 per common share

until December 19, 2026 . In accordance with applicable securities legislation, all securities issued pursuant to the

Offering are subject to a hold period of four months plus one day from the date of the completion of the Offering.

The proceeds from the sale of the FT Shares will be used by the Company to incur for “Canadian exploration

expenses” as defined by the Income Tax Act (Canada) at its 3Ts Property in British Columbia.

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 resul ts 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 th ose

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.

UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States

Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the United States to eligi ble

investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United

States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United St ates

Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements

of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance

with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities,

nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.