Mr. Randy Turner reports

INDEPENDENCE GOLD INTERSECTS 26.00 METRES OF 9.62 G/T GOLD AND 65.42 G/T SILVER IN THE IAN VEIN SYSTEM AT THE 3TS PROJECT, BC

Independence Gold Corp. has released assay results from the Ian vein system from the spring drill program carried out at its 100-per-cent-owned 3Ts project. The 3Ts project is located approximately 185 kilometres (km) southwest of Prince George, B.C., and comprised 17 mineral claims covering approximately 8,840 hectares in the Nechako Plateau region of central British Columbia. It is situated 16 km southwest of Artemis Gold Inc.'s Blackwater project and covers a low-sulphidation epithermal quartz-carbonate vein district within which more than a dozen individual mineralized veins, ranging from 50 metres (m) to more than 1,100 m in strike length, with true widths up to 25 m, have been identified.

The spring drill program, consisting of 22 holes and totalling 5,130 m, was designed to test several targets along the Ted-Mint and Tommy vein systems, both near surface and at depth below the sill. The program also tested early stage exploration targets, including the Ian and Johnny veins, in order to generate additional drill data for incorporation into the current resource model (see report titled "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Armitage and Miller, effective Aug. 18, 2022; please see news release dated Aug. 18, 2022, for further details). 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 (g/t) gold and 96.26 g/t silver, at a cut-off grade of 0.4 g/t gold equivalent (AuEq) in-pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver, or 687,156 AuEq ounces.

The Ian vein system is a series of parallel quartz-carbonate veins that lie approximately 240 m to the west of the Tommy vein system. Two drill holes were completed during the 2024 spring program to test the Ian vein system along strike and at depth below the original discovery hole (3TS-23-29) which intersected 6.10 grams per tonne gold and 66.05 g/t silver over 6.98 m (see news release July 10, 2023).

Drill hole 3TS-24-13 was drilled approximately 40 m northeast of drill hole 3TS-23-29 and drill hole 3TS-24-14 was designed to test the Ian vein at depth below drill hole 3TS-23-29. One sample from drill hole 3TS-24-14 returned 131 g/t gold which is the highest assay for gold since work started at 3Ts in 1995. The main Ian vein system has now been traced laterally for approximately 160 m and to 115 m below surface and remains open along strike and at depth.

Randy Turner, president and chief executive officer of the company, commented: "We are very pleased with the drill results from the Ian vein system. Not only does this drilling indicate high-grade gold and silver intercepts but the Ian vein system appears to be increasing in both width and grade at depth and remains open along strike and at depth, giving us many targets for future drill programs. We look forward to incorporating the Ian vein system into our current resource model."

Update on the exploration program

Following the lifting of an evacuation order issued due to a nearby wildfire, exploration work at the 3Ts will resume on Aug. 8, 2024. All field personnel were safely evacuated and there was no damage to the camp or to the core storage. The summer field program includes regional mapping, airborne geophysics and trenching, including detailed exploration on the Ootsa copper-silver target which is located 1.2 km north of the camp.

* Based on true north. For magnetic declination add 17.5 degrees.

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 per cent passing 75 micrometres. 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.

About Independence Gold Corp.

Independence Gold is a well-financed 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.