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IGO.V ·

Independence Gold Grants Incentive Stock Options

Share Capital & Compensation

Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6

Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]

NEWS RELEASE

Independence Gold Grants Incentive Stock Options

Vancouver, B.C. ( January 18, 2023 ) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the

“Company”) wishes to announce the granting of incentive stock options to certain directors, officers,

employees and consultants to purchase up to 2,650,000 shares under the Company’s Incentive Stock

Option Plan. The options will be granted for a period of three (3) years, commencing on January 18, 2023,

exercisable at a price of $0.15 per share.

About Independence

Independence Gold Corp. is a 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.

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.sedar.com. 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 result s 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.