Mr. Randy Turner reports

INDEPENDENCE GOLD DISCOVERS SECOND MAJOR NEW VEIN SYSTEM GRADING 2.54 G/T GOLD AND 17.54 G/T SILVER OVER 16.08 METRES AT THE 3TS PROJECT, BC

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

The Johnny vein system is located approximately 575 metres west of the Tommy vein system and 335 metres west of the newly discovered Ian vein system (see news release dated July 10, 2023). This is the second new vein system to be discovered during the 2023 drilling campaign and represents a significant stepout to the west from the Tommy vein system. Anomalous quartz vein samples collected in 1996 yielded grades up to 10.2 grams per tonne gold and 28.2 grams per tonne silver but no further exploration has been undertaken in this area since then. During the 2023 drill campaign, two drill holes were designed to explore the extent of the Johnny vein based on these historical results. Hole 3TS-23-31 was drilled 45 metres west of the vein sample and intersected the new Johnny vein cutting 16.08 metres grading 2.54 grams per tonne gold and 17.54 grams per tonne silver. The second hole, 3TS-23-30, was drilled 25 metres to the southeast and intersected highly altered country rock at 89.0-metre depth before terminating at 98.0 metres. The Johnny vein is the widest vein discovered to date in comparison with other known veins within the 3Ts project and remains open at depth and along strike. Multiple gold and silver quartz-bearing veins within an area greater than 1.1 kilometres east-west and 1.1 kilometres north-south have been discovered.

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

Independence president and chief executive officer Randy Turner stated: "The discovery of two major new vein systems at the 3Ts during the recent drill program demonstrates the exploration potential of the project area, with only 25 per cent of the property explored to date. Both the Ian and the Johnny veins, along with other targets, will be further tested during the upcoming exploration and drill programs."

Winter drill program

All drill holes completed in the 4,000-metre winter drill program have been sent to SGS's lab 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 microns. All samples are submitted for four-acid digest 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.

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 a low-sulphidation epithermal quartz-carbonate vein system within which more than a dozen individual mineralized veins, ranging from 50 metres to more than 1,075 metres and true widths up to 25 metres, have been identified.

Corporate update

The company wishes to clarify that the 251,416 non-transferable finder compensation warrants issued in connection with the closing of its private placement financing previously announced on July 18, 2023, will be exercisable at a price of 18 cents per common share until July 18, 2025.

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.

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