Golden Independence Expands Land Position
GOLDEN INDEPENDENCE EXPANDS INDEPENDENCE LAND POSITION
Vancouver, British Columbia –November 6, 2020 – Golden Independence (CSE:
IGLD, FRA:6NN) (the “Company”) is pleased to announce it has expanded its land
position at its flagship Independence gold project in Battle Mountain, Nevada.
The Company has successfully staked and filed with the Bureau of Land Management
(BLM) in Nevada, an additional 24 claims contiguous to it’s existing claims. Including
the additional 120 acres staked, the Independence project now encompasses 640
acres of lode and mill-site claims.
“The expansion of the claim package to 640 acres keeps us within the upper limit
allowable for an environmental permit application, while allowing us to increase the
project footprint,” commented Golden Independence CEO Tim Henneberry.
“Management continues to focus on an updated resources estimate in H1/2021, to be
immediately followed by a Preliminary Economic Assessment in H2/2021 and a mine
development application. Our project location within the Nevada Gold Mines’
(Barrick/Newmont JV) Plan of Operations combined with our 640 acre project footprint
should facilitate a permitting turn-around time within the guidelines of the Battle
Mountain BLM office,” he continued. ‘Our reverse circulation drilling program is
progressing with samples from the first six holes submitted to ALS Minerals prep lab in
Elko,” he concluded.
Corporate Update
On November 6, 2020, The Company granted stock options (“Options”) to a consultant
to purchase an aggregate of up to 60,000 common shares in the capital of the Company
(“Common Shares’) for a period of three years with an exercise price per Common
Share of .60
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on
exploring the advanced-stage Independence Gold Property located in the Battle
Mountain-Cortez Trend, Nevada. The Independence Gold Property benefits from over
US$25 million in past exploration, including over 200 holes drilled, and is located
adjacent to Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle
Mountain-Cortez trend of Nevada. Nevada Gold Mines is a joint venture owned 61.5%
by Barrick Gold Corporation (ABX:TSX, GOLD:NYSE) and 38.5% by Newmont
Corporation (NGT:TSX, NEM:NYSE).
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Tim Henneberry, Chief Executive Officer
Telephone: 1.250.715.5329 Email: [email protected]
Forward Looking Information
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 involving a number of risks and uncertainties and such forward-
looking statements are not guarantees of future performance of the Company, and
include, without limitation, statements relating to plans and results of exploration and
the magnitude and quality of the Independence Property, the Company’s near term
exploration plans and the preparation of an updated mineral resource statement for the
Independence Property. There are numerous risks and uncertainties that could cause
actual results and the Company's plans and objectives to differ materially from those
expressed in the forward-looking information in this news release, including without
limitation, the following risks and uncertainties; (i) risks inherent in the mining industry;
(ii) regulatory and environmental risks; (iii) results of exploration activities and
development of mineral properties and the risk that such results cause the Company to
elect to terminate the Option Agreement; (iv) risks relating to the estimation of mineral
resources; (v) stock market volatility and capital market fluctuations; and (vi) general
market and industry conditions. 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.