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Golden Independence Engages Resource & Water Consultants

Newsfile Corp.
·4 min read

Vancouver, British Columbia--(Newsfile Corp. - November 16, 2020) - Golden Independence (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce it has engaged Dyer Engineering Consultants, Inc. ("Dyer") and JUB Engineers, Inc. ("JUB), both of Reno, Nevada to assist with Civil Engineering design work and water right permitting for the Company's flagship Independence gold project in Battle Mountain, Nevada. James Ashton, P.E., has been engaged to update the resource model and provide initial pit and waste dump designs necessary for permitting. Mr. Ashton has over 32 years of mine engineering and management experience.

"We have engaged Dyer to begin with the compilation of data ahead of the planned resource estimate in Q1/2020," commented CEO Tim Henneberry. "We selected Dyer because they assisted in calculating the historic 2010 resource estimate, and have a deep understanding of the project gained over the past decade. In addition, we have engaged JUB Engineers to undertake permitting of water rights for a proposed heap-leach operation targeting the surficial oxide resource. Similarly with Dyer, JUB also has an extensive history with the project as they successfully spearheaded the previously-granted water right application on the Independence claims."

James Ashton stated: "As my involvement with this project began with the development of the historic 2010 resource estimate, I have a great deal of familiarity and understanding of this project. I have commenced working on updating the resource model, incorporating the results from 56 holes completed after the cut-off date for the historic estimate, in addition to the ongoing drill program. My early re-engagement combined with my long project association and knowledge gives me the confidence that a NI 43-101 Resource Estimate can be completed in short order following the availability of final assay results from the Q4/2020 drill program. Based on an initial review of all available data, I see the potential for significant growth in the oxide resource compared to the historic estimate."

About Dyer Engineering Consultants, Inc. and JUB Engineers, Inc.

Dyer Engineering Consultants, Inc. (https://www.dyerengineering.com/) is a multi-discipline civil engineering firm based in Reno, Nevada, specializing in aviation, development, environmental, mining, and water resources engineering.

JUB Engineers, Inc. (https://web.jub.com/), is a fully integrated civil engineering firm with expertise in transportation engineering, water resources, and land development-just to name a few. We plan and execute projects with precision and in a timely, effective manner.

Dyer and JUB, which recently merged in January 2020, both have extensive track records of project development across multiple sectors and in varying sizes.

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 Corporation and 38.5% by Newmont Corporation.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68234