Mr. Randy Turner reports

INDEPENDENCE GOLD INTERSECTS 7.95 METRES GRADING 10.04 G/T GOLD AND 76.35 G/T SILVER FROM THE TOMMY VEIN AT THE 3TS PROJECT, BC

Independence Gold Corp. has released the first assay results from its continuing, 4,000-metre winter drill program at its 100-per-cent-owned 3Ts project, located approximately 185 kilometres southwest of Prince George, B.C., and situated 16 km southwest of Artemis Gold Inc.'s Blackwater mine project.

The 3Ts project comprises 15 mineral claims, covering approximately 5,200 hectares, in the Nechako Plateau region of central British Columbia. The 3Ts project covers an epithermal quartz-carbonate vein system, within which more than a dozen individual mineralized veins, ranging from 50 m to more than 900 m and true widths of up to 25 m, have been identified.

The winter drill program was designed to infill significant gaps within the historical drilling of the Tommy vein system that were highlighted in the 2022 resource model undertaken by SGS Geological Services (see news release dated Aug. 18, 2022). The combined in-pit and underground components of the Tommy and Ted-Mint vein systems contain a total inferred resource estimate of 4,469,297 tonnes grading 3.64 grams per tonne gold and 96.26 g/t silver, at a cut-off grade of 0.4 g/t gold equivalent in pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver, or 678,156 oz AuEq.

Drill holes 3TS-23-05 and 3TS-23-06 targeted the central-section Tommy vein within its known 900 m strike length, and within the pit shell modelled by SGS. Under this current drill program, a total of 13 drill holes have targeted the pit to increase the resource model. Both holes, 3TS-23-05 and 3TS-23-06, were drilled from the same collar location, at minus-45-degree and minus-60-degree dips, respectively, to intersect the Tommy vein system at two different depths.

Base metal results

The Tommy vein system is evolving as more drill data are collected. The Independence technical team has noted a second, later phase of base metal formation in some areas that intrude the primary gold-silver vein systems and are interpreted to be deeper-sourced fluids that carry elevated base metals. The host rocks are interpreted to be highly altered sericite-silica breccia pipes of rhyolitic country rock and reworked quartz.

Update on the current drill program

Drilling commenced at 3Ts on March 7, 2023, and is continuing at the time of this release. Drilling has focused on the Tommy vein system and within a 300 m area around it. Drilling is designed to provide infill data for the resource model, to test northerly and southerly extensions of the vein system and possible peripheral veins and mineralization. Drilling has extended the Tommy vein system 75 m to the north and 100 m to the south of the current resource model, with the vein system open along strike and at depth.

To date, the company has completed 3,138 m of drilling in 27 drill holes.

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

About Independence Gold Corp.

Independence Gold 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, PGeo, the company's qualified person as defined by National Instrument 43-101, has reviewed the technical information in this news release.

We seek Safe Harbor.