Green River Gold Corp. Provides Updated Information Regarding Mineralogy on the Area of Talc Alteration on Zone 1 of the Quesnel Nickel Project

Zone 1 is an outcrop covering an area of approximately 1.5 square kilometers of the 14 linear kilometer Deep Purple magnetic anomaly. Zone 1 was the subject of a drill program in the Winter of 2021 and Spring of 2022. That drill program confirmed the presence of an area of intense talc alteration which had been previously identified and studied in the 1980's. The drill program also identified the presence of anomalous amounts of nickel, chromium and magnesium along with the talc. The particular area that was targeted with the drilling was the subject of an exploration program designed to assess the potential for a commercial talc deposit in the 1980's. That earlier exploration resulted in the preparation of a preliminary talc mining plan in 1986, [1]

A 50-kilogram drill core sample from Zone 1 was sent to Base Metallurgical Laboratories Ltd., Kamloops, British Columbia, for a mineralogical assessment. This program determined the mineral composition and nickel distribution in the core sample. The analytical results indicate that the core sample contains 0.16% nickel and 0.44% sulfur. Moreover, the mineral abundance by weight (wt%) is 50.7 % talc, 27.1% dolomite, and 12.8% serpentine. The mineral content and nickel distribution have been determined by QEMSCAN BMA analysis. The analysis shows that pyrite (23.8%), pyrrhotite (33.8%), pentlandite (39.0%), and chalcopyrite (1.90%) are the main sulfide minerals. For the nickel distribution, 97.8% of the nickel composites are in pentlandite and 2.15% of nickel composites are in pyrrhotite. Pentlandite was the main nickel mineral observed. Nickel in the form of pentlandite can generally be recovered with gravity and/or flotation methods. Part of the sample was also submitted to an external lab for asbestos content determination. The core sample measured 0.3% chrysotile, which is not classified as "asbestos-containing material" as the chrysotile content is less than 0.5%.

Perry Little, President and CEO of Green River Gold Corp. comments "We are pleased to see the high percentage of talc content and the early indication that asbestos content will not be an issue. The nickel grades, while not as high as we have encountered in Zone 2, present an interesting possibility to develop an operation on Zone 1 that could produce both nickel and talc. While this combination is rare, it would not be a totally unique operation."

Kyle Townsend, Mine Manager of Green River Gold Corp. comments, "We are also pleased to see that 97,8% of the nickel is contained in pentlandite. Nickel contained in pentlandite can generally be recovered by gravity and/or flotation methods with high recovery rates. We are hopeful that Zone 2, which has exhibited higher nickel grades, will also find the nickel composites primarily in pentlandite."

More recently, the Company has shifted its focus to Zone 2 which is approximately 8 kilometers southeast of Zone 1 on the same Deep Purple magnetic anomaly. Zone 2 shows higher XRF nickel grades than Zone 1 but does not show significant visible talc in the 19 holes that have been drilled to date. The host rock appears to be similar to Zone 1 but without the talc alteration.

As drilling continues in Zone 2, the Company will be sending further samples to Base Metallurgical Laboratories Ltd. (BML) for a scoping level metallurgical extraction testing program, with results expected in calendar Q1 2023.

Figure 1. Zone 1 and 2 on The Deep Purple Target

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[1] Trifaux, R (1986). Wim, Wim-Ta & Arne Claims Assessment Works 1986-1987, Retrieved from https://apps.nrs.gov.bc.ca/pub/aris/Report/15522.pdf/
https://apps.nrs.gov.bc.ca/pub/aris/Report/15729a.pdf/
https://apps.nrs.gov.bc.ca/pub/aris/Report/15729b.pdf/
https://apps.nrs.gov.bc.ca/pub/aris/Report/15729c.pdf/ on Nov 08, 2022.

Quality Assurance, Quality Control

An AQTK or 35.5 mm (1 3/8 in) diameter core barrel was used for the 2022 diamond drill program at the Quesnel Nickel and Talc Property. The drill stem dip and azimuth were orientated at each collar location by a qualified geologist prior to drilling. Core samples were generally selected between 0.5 and 1.5-meter intervals, depending on identified lithology and mineralization style. The core was cut in half with a diamond core saw, with half of the core placed in sample bags and the remaining half securely retained in core boxes at the Green River's office in Quesnel. Standard samples and blanks (CDN-BL-10) were systematically inserted into each batch of samples at regular intervals. The standard samples include high-grade (CDN-ME-2001) and low-grade (CDN-PGMS-29) nickel samples purchased from CDN Resource Laboratories in Langley, British Columbia. The core samples placed in sealed bags were shipped directly to Activation Laboratories Ltd. (Actlabs) in Kamloops, British Columbia. The Actlabs preparation procedure included crushing the entire sample to 80% passing 2 millimeters, riffle splitting 250 grams, and pulverizing the split to 95% passing 105 micrometers. Base metal analyses are determined using the four-acid digestion method with an ICP-OES finish. Analytical results are verified with the application of industry-standard Quality Assurance and Quality Control (QA/QC) Procedures. Activation Laboratories Ltd. has an ISO 17025 certificate.

Qualified Person:

Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned Fontaine Gold Project, Quesnel Nickel Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.

The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.

The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.

In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

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