Independence Gold Corp. (TSX-V: IGO) (OTCQB: IEGCF) is pleased to announce assay results from the Ian Vein discovered during the Company’s recent 4,000 metre drill program at its 100% owned 3Ts Project. The Project is located approximately 185 kilometres southwest of Prince George, British Columbia and situated 16 km southwest of Artemis Gold Inc.’s Blackwater Project.

The Ian Vein is located approximately 240m west of the Tommy Vein system and was previously explored by a single drill hole in 1995. This is the first major new vein discovery at 3Ts in almost 30 years. During the 2023 drill campaign three drill holes were designed to explore the extent of this vein based on field mapping and data compilation results. These holes were drilled towards the east and undercut a historical surface sample grading 11.59 grams per tonne (“g/t”) gold and 38.6 g/t silver. Holes 3TS-23-27 and 3TS-23-28 successfully confirmed the presence of sheeted veins while 3TS-23-29 intersected the newly discovered Ian Vein which exhibits a similar width and grade to the Tommy Vein system, with an intercept of 6.98m grading 6.10 g/t gold and 66.05 g/t silver.

Please refer to the website for a map showing the veins and drill hole locations.

*the true widths of the veins are approximately 85% of the reported interval width
**Using a cut-off grade of 0.4 g/t gold as per the resource estimate for “in-pit” grades

The drill program has defined this vein system over a 100m strike length which remains open along strike and at depth. The Ian Vein System presents as a series of six parallel sheeted veins within a 95m-wide zone of fractured and brecciated rhyolite and indicates mineralization between the Ian and Tommy Vein Systems. No drilling has explored the area east of the Ian Vein System and west of Tommy Vein System allowing for the potential to discover more mineralized veins.

The density of the veining associated with the grades provides new targets for future drilling and the potential to increase the global resource at the 3Ts Project.

Figure 1: 3Ts Project Ian Vein System

Update on the Program

The drill program commenced at the 3Ts Project on March 7^th, 2023, and was completed during mid-May, with a total of 4,000m of drill core recovered from 33 drill holes. Results are being released as they arrive from the lab and may be out of sequential order due to varying submission dates after logging and sample preparation times.

All drill holes completed to date have been sent to SGS lab in Vancouver for sample preparation and analysis. Robotic sample preparation is used to ensure reproducibility; samples are pulverized to greater than 85% passing 75 microns. All samples are submitted for four acid digest with an ICP finish. Gold grades are obtained by fire assay with AAS finish. Samples which return greater than 10 parts per million gold and 100 parts per million silver are resubmitted for fire assay with a gravimetric finish.

The 3Ts Project is comprised of fifteen mineral claims covering approximately 5,200 hectares in the Nechako Plateau region of central British Columbia. The 3Ts Project covers a low-sulphidation epithermal quartz- carbonate vein district within which more than a dozen individual mineralized veins, ranging from 50 m to more than 1,075 m and true widths up to 25m, have been identified.

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.

Andy Randell, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.