Golden Independence Expands Independence Land Position
Vancouver, November 6, 2020 - Golden Independence (CSE: IGLD) (FSE: 6NN) (the "Company") is pleased to announce it has expanded its land position at its flagship Independence gold project in Battle Mountain, Nevada.
The Company has successfully staked and filed with the Bureau of Land Management (BLM) in Nevada, an additional 24 claims contiguous to it's existing claims. Including the additional 120 acres staked, the Independence project now encompasses 640 acres of lode and mill-site claims.
Figure 1
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"The expansion of the claim package to 640 acres keeps us within the upper limit allowable for an environmental permit application, while allowing us to increase the project footprint," commented Golden Independence CEO Tim Henneberry. "Management continues to focus on an updated resources estimate in H1/2021, to be immediately followed by a Preliminary Economic Assessment in H2/2021 and a mine development application. Our project location within the Nevada Gold Mines' (Barrick/Newmont JV) Plan of Operations combined with our 640 acre project footprint should facilitate a permitting turn-around time within the guidelines of the Battle Mountain BLM office," he continued. "Our reverse circulation drilling program is progressing with samples from the first six holes submitted to ALS Minerals prep lab in Elko," he concluded.
Corporate Update
On November 6, 2020, The Company granted stock options ("Options") to a consultant to purchase an aggregate of up to 60,000 common shares in the capital of the Company ("Common Shares') for a period of three years with an exercise price per Common Share of .60.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada. Nevada Gold Mines is a joint venture owned 61.5% by Barrick Gold Corp. and 38.5% by Newmont Corp..
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Tim Henneberry, Chief Executive Officer
Telephone: 1.250.715.5329 Email: t.henneberry@goldenindependence.co
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans and results of exploration and the magnitude and quality of the Independence Property, the Company's near term exploration plans and the preparation of an updated mineral resource statement for the Independence Property. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties and the risk that such results cause the Company to elect to terminate the Option Agreement; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
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