News Release Highlights:
- Additional mining equipment has been added to more than double the throughput
- Plans are being made to expand production further in future and to add additional placer mining operations to provide additional cash flow to the Company
Edmonton, Alberta--(Newsfile Corp. - August 20, 2024) - Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") has demonstrated steady advancement since commencing mining operations at the end of June 2024, achieving promising results that have led to strategic decisions aimed at bolstering our production capabilities.
About Green River Gold Corp.'s Mining Plan
In recognition of the positive outcomes realized thus far, Green River Gold Corp. has added a second trommel (See Figure 1. below) and additional support equipment to the placer mining operation. This strategic enhancement is expected to more than double production capacity for the remainder of the current mining season. This decision is in line with the Company's commitment to maximizing resource extraction while adhering to sustainable practices that benefit both the environment and our stakeholders.
Figure 1. Placer Mining Equipment on The Wabi Claim
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In addition to this expansion, the Company is actively laying the groundwork to broaden its mining operations to encompass multiple locations in future seasons. This diversification strategy is designed to optimize resource utilization, mitigate risks, and drive further growth and cash flow, solidifying Green River Gold Corp.'s standing as a resilient and forward-thinking player in the mining sector.
The Wabi placer mining claims are located on the Swift River, approximately 45 minutes from Green River's field headquarters in Quesnel, British Columbia. The placer gold mining project is intended to provide immediate cash flow to the Company while it continues to explore its longer‐term mineral growth projects with a focus on both critical minerals and precious metals. The Company has very strong growth platforms with the Quesnel Nickel Critical Minerals Project and the Fontaine Gold and Kymar Silver Projects.
Green River holds six contiguous placer mining claims totaling 255.94 hectares straddling the Swift River, a river which has a significant history of placer mining production dating back to the Cariboo Gold Rush in the 1870's. The Company also holds placer claims on several other creeks and rivers in the Cariboo Mining District. Several of the placer properties are already permitted and bonded. In total, Green River holds 1,110 hectares of placer mining claims along with over 228 square kilometers of mineral claims.
Green River is uniquely positioned to mine the placer claims because of its relationship with its privately held affiliate, Gold Rush Supplies Inc. The two companies share space in a fully equipped shop and office building located in Quesnel, approximately 45 minutes from the Swift River placer claims. Gold Rush Supplies Inc. builds placer mining equipment and provides mining supplies from a retail and shop location in the shared facility. The fully equipped shop and yard provides an excellent location from which to stage the mining operation and to handle all related administration and management functions. The Company's Qualified Person, Stephen P. Kocsis (P.Geo) has decades of experience in placer gold mining and has personally designed and operated placer mining operations.
"We are encouraged by the progress we have made since the launch of our operations, and the results we are witnessing are a testament to our team's hard work and dedication," stated Perry Little, President and CEO of Green River Gold Corp. "The strategic decision to integrate a second trommel reflects our commitment to scaling up production and achieving our corporate objectives, while our plans to explore and mine multiple locations next season will position us for sustained success and expansion. The success of our longer-term projects, including the Quesnel Nickel Project are only enhanced by any operating cash flow from placer mining. Our other projects, including Quesnel Nickel, are also proceeding. A drilling and exploration update will be provided shortly."
Qualified Person:
Stephen P. Kocsis (P.Geo) 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 dynamic mining company dedicated to sustainable resource development and innovation in the mineral exploration sector. With a strategic focus on identifying and advancing high-potential mining projects, Green River Gold Corp. is committed to creating long-term value for shareholders and stakeholders.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are all located in renowned mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area exceeding 200 square kilometers and straddle a 32-kilometre length of the Barkerville and Quesnel Terranes. They 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.
In addition, Green River is actively mining some of its 1,110 hectares of placer mining claims in the Cariboo Mining District of Quesnel.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedarplus.ca.
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.
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