Independence Gold Announces Grades of Up To 7.69 g/t Gold and 447 g/t Silver at Surface on the Merit Property, British Columbia

VANCOUVER, Oct. 08, 2020 - Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to the announce results and findings from follow up exploration at the Merit Property (“the Property”), located in the prospective Spences Bridge Gold Belt. Activity targeted several zones identified during the 2019 season with the objective of further understanding, delineating, and expanding targets.

Sullivan Ridge Target
Sullivan Ridge is an elongated, dome-shaped hill in the northern portion of the Property. Work in 2019 discovered low-sulphidation quartz veins which assayed up to 9.5 grams per tonne (“g/t”) gold (“Au”) and 341 g/t silver (“Ag”). Follow up in 2020 discovered additional chalcedonic quartz veins that branch off at 10-15 degrees from the main vein. Samples from these veins returned grades of up to 4.35 g/t Au and up to 50 g/t Ag. A 200 metres (“m”) by 100m area of branching veins were identified through mapping. Outcrops along a 700m strike length also show potential for similar structures and will be further delineated by both trenching and follow up drilling pending final permit approval.

Central Zone
The Central Zone is located 3 kilometres southwest of Sullivan Ridge and was first discovered in 2019 where grades included a high-grade sample from chalcedonic float returning 6.71 g/t Au and 326 g/t Ag. Follow up work in 2020 found additional chalcedonic quartz material approximately 70m northeast of the 2019 high grade sample and returned 7.69 g/t Au and 447 g/t Ag. Additional mapping and structural interpretation indicate that this area is part of the same structure that hosts the Sullivan Ridge veins but has been offset along a northwest to southeast trending fault. Further exploration will consist of trenching and drilling pending final permit approval.

About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. The Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. For additional information, visit the Company's website www.ingold.ca.

Andy Randell, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.

ON BEHALF OF THE BOARD OF Independence Gold Corp.

“Randy Turner”

Randy Turner, President & 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.sedar.com. 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.

For further information please contact Randy Turner at 604-687-3959 or info@ingold.ca.