Golden Independence Receives Notice of Lawsuit

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") has received a copy of a civil complaint filed April 19, 2021 in a state court in Reno, Nevada (the "Claim") on behalf of plaintiffs Brian Nordwall and Independence Gold-Silver Mines, Inc. The Company and its CEO, Christos Doulis, are named as defendants. The Claim follows the amendment of the option to purchase the Independence Project and the subsequent purchase of the Independence Project in January 2021 by the Company's joint venture partner Americas Gold Exploration Inc. As part of the consideration for the purchase, Mr. Nordwall and Independence Gold-Silver Mines, Inc. each received common shares of the Company (the "Purchase Shares"). They allege that, due to a subsequent decline in the market price of the Company's common shares, the Purchase Shares were inadequate consideration and that the Company and Mr. Doulis failed to inform them of an impending decline in the market value of the Company's common shares. The Company and Mr. Doulis deny the allegations and intend to vigorously defend the Claim.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence 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: christos@goldenindependence.co

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 regarding the Company's intention to defend the Claim. 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 risk that the Company will not be successful in its defense of the Claim. 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/82405