Vancouver, B.C. (December 6, 2022) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the “Company”) wishes to announce that is modifying the terms of the private placement equity financing (the “Financing”) that was announced on November 16, 2022 due to market conditions. of up to a maximum of 21,666,666 shares comprised of a combination of flow-through common shares (the “FT Shares”) and units (each a “Unit”). Both the FT Shares and the Units will be offered at a price of $0.06 for a maximum aggregate proceeds of $1,300,000, and a combined total of a maximum of up to 21,666,666 shares to be issued, on an undiluted basis (excluding any shares issuable on the exercise of warrants forming part of the units). Each Unit will consist of one common share of the Company (a “Share”) and one common share purchase warrant. Each warrant (a “Warrant”) will entitle the holder to purchase one additional Share at an exercise price of $0.12 per common share for a period of 24 months. Subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange, finders’ fees of 6% for eligible subscribers and finders’ warrants may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company. Each finders’ warrant is exercisable for one common share at a price of $0.12 for a period of 24 months.

The proceeds from the sale of the offering will be used by the Company to fund a winter exploration program at the Company’s 3Ts Property located in central British Columbia. Exploration is expected to commence in February 2023. A portion of the proceeds from the Units is also intended to be used for general and administrative purposes.

Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period.

ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.

“Randy Turner”

Randy Turner, President and CEO