Base Metals

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that the 2022 exploration drilling program has started at its Quesnel NickelMagnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

The first phase of the 2022 exploration drilling program will consist of 3 drill holes, approximately 100 meters each, using a portable Winkie drill purchased by the Company late in 2021. The drill sites are being accessed from a major logging road, travelling by snowmobile for the last 3km.

The map that follows shows the locations of the drill holes.. The map also shows the area that will be covered by a new UAV-MAG survey which has been commissioned and which is due to commence later this month.

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During the 2021 exploration drilling 9 shallow holes were drilled from a talc outcropping. The assay results for the first of the nine holes were previously released. The hole intercepted 17.80% Magnesium, 0.18% Nickel and 0.15% Chromium over 15 meters beginning right at surface. (see News Release dated April 20, 2022 for more details). Assay results for additional holes are pending and expected very shortly.

Kyle Townsend, Mine Manager for Green River Gold Corp. comments "We are excited to drill these deeper holes on the Project. While much time was spent studying the potential for a talc mine on the property in the 1980's, the holes drilled were all shallow, as were the initial holes drilled by Green River. This is the first time that anyone has attempted to drill this deep on the Quesnel Nickel/Magnesium Project. Our intent is to determine whether the talc occurrence continues to at least one hundred meters and whether the nickel and magnesium content is consistent. This program, combined with the recently commissioned UAV-MAG survey will determine the scale and location of the next phase of drilling."

The previously completed UAV-MAG survey results over the Quesnel Nickel/Magnesium Project area indicated the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. These results are similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.

The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.

Quesnel Nickel/Magnesium Project Highlights:

There are 3 BC MINFILE occurrences as follows:

  • 093A 013 - Sovereign Creek - developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.
  • 093A 130 - Sovereign - showings containing talc and nickel sulfides.
  • 093H 061 - R.T. - showing containing nickel, chromium, and cobalt.

Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.

Regional Exploration Plan:

Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel/Magnesium Project and is also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Plans are also being made for exploration on the Company's Kymar Silver Project in southeast B.C. later in the Summer.

Qualified Person:

Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.

The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.

The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.

In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123398

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