Mr. Randy Turner reports

INDEPENDENCE GOLD ANNOUNCES INCREASE TO PRIVATE PLACEMENT FINANCING

Independence Gold Corp. has increased the size of its previously announced private placement equity financing (see news releases dated June 17, 2023) to a maximum of $1.8-million, due to investor demand.

Under the increased Financing terms, the Company is proposing to issue up to a maximum of 15,000,000 shares (on an undiluted basis, excluding any shares issuable on the exercise of warrants forming part of the Units) comprised of a combination of flow-through common shares (the "FT Shares") and units (each a "Unit"). Both the FT Shares and the Units will be offered at a price of $0.12 for a maximum aggregate proceeds of $1,800,000. Each Unit will consist of one common share of the Company (a "Share") and one- half of one common share purchase warrant. Each warrant (a "Warrant") will entitle the holder to purchase one additional Share at an exercise price of $0.18 per common share for a period of 24 months. Subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange, finders' fees may be payable to eligible arm's length persons with respect to certain subscriptions accepted by the Company.

The proceeds from the sale of the offering will be used by the Company to fund further exploration programs, including drilling, at the Company's 3Ts Property located in central British Columbia, as well as a portion of the proceeds from the Units is also intended to be used for general and administrative purposes.

Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period.

We seek Safe Harbor.