Golden Independence Provides Drilling Update

Vancouver, British Columbia--(Newsfile Corp. - January 6, 2021) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to provide an update on drilling progress at the Company's flagship Independence project located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

Drill Program Update

Golden Independence has completed its 2020 resource expansion drill program at the Company's Independence project. A total of 23 reverse circulation (RC) holes were drilled with the objective of confirming the historic resource and expanding the areas of known mineralization. Assays from the recently completed drill program are being integrated with data from the 56 recently released historic RC drill holes (see News Releases dated December 9^th, 2020 and December 15^th, 2020), to produce an NI 43-101 compliant resource estimate for the Independence project anticipated in Q1 2021. Figure 1 provides a plan view of the location of the RC drill hole collars that will be incorporated into the resource update.

Concurrent with the Q1 2021 NI 43-101 resource calculation, drilling is continuing with a 6,000-foot RC drill program targeting the extension of both known oxide and gold skarn mineralization in addition to testing the gold skarn mineralization's depth from surface. The Company also intends to drill three to five diamond core (DC) holes in early 2021 for geotechnical and engineering purposes.

"With the completion of our 2020 drill program, our next step is to table an NI 43-101 compliant resource for the Independence project in early 2021 as we advance to a PEA in the second half of this year," commented Golden Independence CEO, Christos Doulis. "We believe the integration of both the 23 holes drilled in 2020 plus the 56 historic holes should result in a significantly expanded resource estimate at the Independence project."

Figure 1: Plan View Showing Drill Collar Locations

Click here for a full-size map

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (B.C.), a director and president of Golden Independence Mining and a qualified person under National Instrument 43-101.

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 and the Champ precious metal property near Castlegar, British Columbia. 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71446