Vancouver, British Columbia--(Newsfile Corp. - November 19, 2025) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) ("Independence" or the "Company") is pleased to announce a significant update to the mineral resource estimate ("MRE") for its 3Ts Project in the Omineca Mining Division of British Columbia. The updated resource estimate includes the Tommy and Ted-Mint vein systems, as well as the recently discovered Larry, Johnny and Ian veins. This updated estimate has been prepared by SGS Geological Services group within SGS Canada Inc. under the supervision of a Qualified Person and in accordance with CIM Definition Standards and NI 43-101. This estimate delivers both increased tonnage and the addition of an Indicated resource category, marking a significant progress in project advancement.
| Cut-Off* AuEq (g/t) | Type | Classification | Tonnes | Gold (g/t) | Silver (g/t) | AuEq (g/t) | Gold (Ounces) | Silver (Ounces) | AuEq (Ounces)* |
| 0.3 | In-Pit | Indicated | 2,218,000 | 3.01 | 81.94 | 4.07 | 217,000 | 5,843,000 | 290,000 |
| 2.0 | Underground | 576,000 | 3.72 | 83.87 | 4.77 | 69,000 | 1,553,000 | 88,000 | |
| TOTAL | 2,794,000 | 3.18 | 82.35 | 4.22 | 286,000 | 7,396,000 | 378,000 | ||
| 0.3 | In-Pit | Inferred | 968,000 | 2.71 | 67.80 | 3.56 | 84,000 | 2,110,000 | 111,000 |
| 2.0 | Underground | 1,994,000 | 3.35 | 75.93 | 4.30 | 215,000 | 4,868,000 | 276,000 | |
| TOTAL | 2,962,000 | 3.14 | 73.27 | 4.06 | 299,000 | 6,978,000 | 387,000 |
Table 1: Updated (2025) In-Pit and Underground Mineral Resource Estimate
- The effective date of the 3Ts Mineral Resource Estimate is November 12th, 2025.
- The mineral resource was estimated by Rohan Millar, P.Geo. of SGS Geological Services and is an independent Qualified Person as defined by NI 43-101.
- The classification of the current Mineral Resource Estimate into Indicated and Inferred mineral resources is consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
- Figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding.
- The mineral resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and is considered to have reasonable prospects for eventual economic extraction.
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- The 3Ts mineral resource estimate is based on a validated database which includes data from surface diamond drilling completed between 1995 and 2025.
- The MRE for 3Ts is based on 13 three-dimensional ("3D") resource models representing the Tommy, Ted-Mint, Ian, Johnny and Larry veins.
- Grades for Au and Ag were estimated for each mineralization domain using 1.0 metre capped composites assigned to that domain. To generate grade within the blocks, the inverse distance squared (ID2) interpolation method was used. An average SG value of 2.70 g/cm3 was used for tonnage calculation.
- Based on the location, surface exposure, size, shape, general true thickness, and orientation, it is envisioned that parts of the 3Ts may be mined using open-pit mining methods. In-pit mineral resources are reported at a base case cut-off grade of 0.3 g/t AuEq. The in-pit resource grade blocks are quantified above the base case cut-off grade, above the constraining pit shell, below topography and within the constraining mineralized domain (the constraining volume).
- The pit optimization and base-case cut-off grade consider a gold price of $2,400/oz and a silver price of $30 /oz and considers a gold recovery of 97% and silver recovery of 94%. The pit optimization and base case cut-off grade also considers a mining cost of US$2.80/t mined, pit slope of 55⁰ degrees, and processing, treatment, refining, G&A and transportation cost of USD$22.00/t of mineralized material.
- The results from the pit optimization, using the pseudoflow optimization method in Whittle 2022, are used solely for the purpose of testing the "reasonable prospects for economic extraction" by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used simply as a guide to assist in the preparation of a mineral resource statement and to select an appropriate resource reporting cut-off grade. A Whittle pit shell at a revenue factor of 1.00 was selected as the ultimate pit shell for the purposes of the current MRE.
- Based on the size, shape, general true thickness, and orientation, it is envisioned that parts of the 3Ts deposit may be mined using underground mining methods. Underground mineral resources are reported at a base case cut-off grade of 2.0 g/t AuEq. The mineral resource grade blocks were quantified above the base case cut-off grade, below surface/pit surface and within the constraining mineralized wireframes (considered mineable shapes). Based on the size, shape, general thickness, and orientation of the mineralized structures, it is envisioned that the deposit may be mined using a combination of underground mining methods including sub-level stoping (SLS) and/or cut and fill (CAF) mining.
- The underground base case cut-off grade of 2.0 g/t AuEq considers a mining cost of US$80.00/t mined, and processing, treatment, refining, G&A and transportation cost of USD$25.00/t of mineralized material.
- AuEq grades are based on metal prices of US$2,400/oz Au and US$30/oz Ag. The Au to Ag equivalency ratio is $2,400/$30 = 80.0. Therefore, the AuEq conversion = Au g/t + (Ag g/t/80.0).
- The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2025 MRE Highlights
- Total Indicated mineral resources: 2.79 million tonnes at an average grade of 4.22 g/t AuEq, representing approximately 378,000 gold-equivalent ounces.
- Total Inferred mineral resources: 2.96 million tonnes at an average grade of 4.06 g/t AuEq, representing approximately 387,000 gold-equivalent ounces.
- Open-pit portion (cut-off grade of 0.3 g/t AuEq): Indicated 2.218 Mt at 4.07 g/t AuEq (~290,000 oz); Inferred 0.968 Mt at 3.56 g/t AuEq (~111,000 oz).
- Underground portion (cut-off grade 2.0 g/t AuEq): Indicated 0.576 Mt at 4.77 g/t AuEq (~88,000 oz); Inferred 1.994 Mt at 4.30 g/t AuEq (~276,000 oz).
- In addition to the Tommy and Ted-Mint vein systems, this update now includes the Larry, Johnny and Ian veins for the first time in the resource model - each remains open along strike and at depth, offering significant upside for discovery and expansion.
- An additional 78 drillholes totalling 14,413 metres were used to calculate the updated MRE from the previous 2022 MRE.
- The majority of the 78 drillholes were designed mainly to test the presence and continuity of gold and silver mineralization above a microdiorite sill (from surface down to approximately 100 metres).
The 2022 resource estimate reported an Inferred resource of ~4.47 million tonnes grading 3.64 g/t Au and 96.26 g/t Ag, equivalent to ~522,330 ounces gold and ~13.83 million ounces silver (see news release dated August 18, 2022); the new 2025 model delivers an increase in tonnage, and for the first time includes an Indicated category, opening the possibility of mineral reserves on the property - a step-change in confidence for both the Company and investors.
Under the CIM Definition Standards and NI 43-101, an Indicated Mineral Resource is estimated with sufficient confidence in geological continuity and data that modifying factors (mining, processing, economic, legal, environmental) can be applied to support mine planning and evaluation. By contrast, an Inferred Mineral Resource is estimated on more limited evidence and sampling and cannot be converted directly into mineral reserves. The addition of the Indicated category demonstrates a higher level of confidence, reducing execution risk, improving the project's investment profile and facilitating advanced studies (pre-feasibility, feasibility).
"We are very pleased with the results of the 2025 SGS resource update -- the introduction of a significant Indicated resource opens the door to higher-confidence development pathways," said Randy Turner, President & CEO of Independence Gold. "This milestone strengthens our belief that the 3Ts Project is advancing from exploration toward a development-stage asset."
New Vein Systems Included in the MRE
For the first time, the 2025 MRE incorporates results from the newly discovered Larry, Johnny and Ian vein systems-marking a significant enhancement to the geological footprint of the 3Ts Project. Previous resources had focused on the Ted-Mint and Tommy vein systems; all veins remain open along strike and at depth, offering significant upside for discovery and expansion.
"Including Larry, Johnny and Ian in the new resource model is a pivotal advancement for 3Ts," said Randy Turner, President & CEO of Independence Gold. "Their inclusion not only strengthens our resource base, but it also provides new opportunities for exploration upside and demonstrates the district scale opportunity we have long believed exists on-site."
Each vein set has delivered significant intersections over the past 18 months:
- The Larry vein returned 19.40 m grading 5.58 g/t Au and 73.76 g/t Ag (true width ~11 m) (see news release dated March 26, 2025)
- The Johnny vein returned 52.46 m grading 2.51 g/t Au and 19.73 g/t Ag (true width ~32 m) (see news release dated July 31, 2025)
- The Ian vein returned 26.00 m grading 9.62 g/t Au and 65.42 g/t Ag (true width of ~22 m) (see news release dated August 8, 2024)
With these veins now included in the updated MRE, the Company is positioned to unlock further value through follow-up drilling focused on along-strike and deeper extensions of the Larry, Johnny and Ian veins, as well as the Tommy and Ted-Mint vein systems.
About Independence
Independence Gold Corp. 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. For additional information, visit the Company's website www.ingold.ca.
The 3Ts Project is located approximately 185 kilometres southwest of Prince George, British Columbia, the 3Ts Project comprises thirty-one mineral claims covering approximately 35,486 hectares in the Nechako Plateau region. The project lies 16 km southwest of Artemis Gold Inc.'s Blackwater Mine and hosts a low-sulphidation epithermal quartz-carbonate vein district within which at least nineteen known mineralized veins, ranging from 50 to over 1,100 metres in strike length and true widths of up to 32 m have been identified, twelve of which remain untested by drilling.
The Independence Gold 3Ts project 2025 Mineral Resource Estimate was prepared by Rohan Millar, P.Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), with an effective date of November 12, 2025.
Certain technical information in this press release has been reviewed and approved by Andy Randell, P.Geo. Mr. Randell is a qualified person under Canadian National Instrument 43-101, and is an independent consultant for the Company.
ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.
"Randy Turner"
Randy Turner, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company's planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Independence's public filings under Independence Gold Corp.'s SEDAR profile at www.sedarplus.ca. Although Independence has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Independence disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
3Ts Project Mineral Resource Estimate Notes:
Sensitivity to Cut-off Grade
The 3Ts MRE has been estimated at a range of cut-off grades to demonstrate the sensitivity of the resources to cut-off grades. The current in-pit MRE is reported at a base-case cut-off grade of 0.30 g/t AuEq (highlighted) within a conceptual pit shell, while the underground MRE is reported at a cut-off grade of 2.0 g/t AuEq (highlighted). Values in these tables reported above and below the base-case cut-off grade for the MRE should not be misconstrued with a mineral resource statement. The values are only presented to show the sensitivity of the block model estimate to the selection of the base case cut-off grades. All values are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding.
| Indicated Open Pit | |||||||
| Cut-Off Grade (AuEq) | Tonnes | Au (g/t) | Ag (g/t) | AuEq (g/t) | Au Oz | Ag Oz | AuEq (g/t) |
| 0.2 | 2,233,000 | 3.02 | 81.43 | 4.04 | 217,000 | 5,846,000 | 290,000 |
| 0.3 | 2,218,000 | 3.04 | 81.94 | 4.07 | 216,900 | 5,843,000 | 290,000 |
| 0.4 | 2,190,000 | 3.08 | 82.85 | 4.11 | 216,700 | 5,834,000 | 290,000 |
| 0.5 | 2,155,000 | 3.12 | 84.00 | 4.17 | 216,400 | 5,818,000 | 289,000 |
| 0.6 | 2,110,000 | 3.18 | 85.4 | 4.25 | 215,900 | 5,795,000 | 288,000 |
| 0.7 | 2,063,000 | 3.24 | 86.94 | 4.33 | 215,300 | 5,768,000 | 287,000 |
| 0.8 | 2,016,000 | 3.31 | 88.47 | 4.42 | 214,500 | 5,735,000 | 286,000 |
| 0.9 | 1,963,000 | 3.38 | 90.32 | 4.51 | 213,500 | 5,700,000 | 285,000 |
| 1.0 | 1,913,000 | 3.45 | 92.12 | 4.61 | 212,400 | 5,665,000 | 283,000 |
| Inferred Open Pit | |||||||
| 0.2 | 976,000 | 2.69 | 67.30 | 3.53 | 84,400 | 2,112,000 | 111,000 |
| 0.3 | 968,000 | 2.71 | 67.80 | 3.56 | 84,400 | 2,110,000 | 111,000 |
| 0.4 | 963,000 | 2.72 | 68.14 | 3.58 | 84,300 | 2,109,000 | 111,000 |
| 0.5 | 955,000 | 2.74 | 68.65 | 3.60 | 84,200 | 2,108,000 | 111,000 |
| 0.6 | 940,000 | 2.78 | 69.62 | 3.65 | 84,000 | 2,105,000 | 110,000 |
| 0.7 | 929,000 | 2.81 | 70.38 | 3.69 | 83,800 | 2,101,000 | 110,000 |
| 0.8 | 870,000 | 2.95 | 74.71 | 3.88 | 82,500 | 2,089,000 | 109,000 |
| 0.9 | 851,000 | 3.00 | 76.14 | 3.95 | 82,100 | 2,083,000 | 108,000 |
| 1.0 | 833,000 | 3.05 | 77.51 | 4.01 | 81,600 | 2,076,000 | 108,000 |
Table 2: 3Ts Project Open Pit Sensitivity Table, November 12th, 2025
| Indicated Underground | |||||||
| Cut-Off Grade (AuEq) | Tonnes | Au (g/t) | Ag (g/t) | AuEq (g/t) | Au Oz | Ag Oz | AuEq (g/t) |
| 1.0 | 748,000 | 3.09 | 72.49 | 4.00 | 74,000 | 1,744,000 | 96,000 |
| 1.5 | 640,000 | 3.47 | 79.95 | 4.47 | 71,000 | 1,646,000 | 92,000 |
| 2.0 | 576,000 | 3.72 | 83.87 | 4.77 | 69,000 | 1,553,000 | 88,000 |
| 2.5 | 516,000 | 3.98 | 86.56 | 5.06 | 66,000 | 1,436,000 | 84,000 |
| 3.0 | 440,000 | 4.34 | 89.54 | 5.46 | 61,000 | 1,267,000 | 77,000 |
| 3.5 | 366,000 | 4.73 | 93.86 | 5.90 | 56,000 | 1,105,000 | 69,000 |
| 4.0 | 294,000 | 5.19 | 99.50 | 6.43 | 49,000 | 940,000 | 61,000 |
| 4.5 | 236,000 | 5.68 | 103.93 | 6.98 | 43,000 | 788,000 | 53,000 |
| 5.0 | 194,000 | 6.11 | 107.58 | 7.46 | 38,000 | 671,000 | 46,000 |
| Inferred Underground | |||||||
| 1.0 | 2,883,000 | 2.64 | 62.60 | 3.43 | 245,000 | 5,802,000 | 318,000 |
| 1.5 | 2,410,000 | 2.98 | 69.89 | 3.86 | 231,000 | 5,415,000 | 299,000 |
| 2.0 | 1,994,000 | 3.35 | 75.93 | 4.30 | 215,000 | 4,868,000 | 276,000 |
| 2.5 | 1,462,000 | 4.21 | 67.37 | 5.05 | 198,000 | 3,166,000 | 237,000 |
| 3.0 | 1,166,000 | 4.73 | 72.53 | 5.64 | 177,000 | 2,719,000 | 211,000 |
| 3.5 | 955,000 | 5.19 | 78.22 | 6.17 | 159,000 | 2,401,000 | 189,000 |
| 4.0 | 771,000 | 5.70 | 84.48 | 6.75 | 141,000 | 2,094,000 | 167,000 |
| 4.5 | 612,000 | 6.27 | 90.19 | 7.40 | 123,000 | 1,775,000 | 146,000 |
| 5.0 | 517,000 | 6.75 | 91.74 | 7.89 | 112,000 | 1,525,000 | 131,000 |
Table 3: 3Ts Project Underground Sensitivity Table, November 12th, 2025
Note to Readers:
- AuEq refers to gold-equivalent ounces calculated using silver credits and other assumptions disclosed in the technical report.
- Mineral resources that are not mineral reserves do not have demonstrated economic viability.
- Each resource category (Indicated and Inferred) is reported separately. Inferred resources cannot be aggregated with Indicated resources in economic studies.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275137