Edmonton, Alberta – June 24, 2024 – Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River”) has commenced the placer gold mining operations on its 100% owned, fully permitted, and bonded Wabi claim on the Swift River. The Swift River claims are located 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 precious metals projects. The next phase of drilling will commence shortly on the Quesnel Nickel Project. Unlike Green River’s longer-term projects, placer gold mining can generally be permitted and operational within a short period of time. Green River believes that the timing is right to create cash flow from some of its 1,112 hectares of placer mining claims.
Figure 1. Placer Mining Equipment on The Wabi Claim
About Green River’s Swift River Placer Mining Claims and Plans
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. The placer properties owned by Green River are shown in Figure 1 against the backdrop of the Company’s 200 square kilometer Quesnel Nickel/Fontaine Gold mineral property.
Figure 2. Placer Property Location
The Company has held its Swift River placer claims for several years, along with placer claims on other well-known creeks and rivers in the Cariboo Mining District. Some of the claims have been rented to other miners in the past for cash rent. With gold prices currently near all-time highs of above $3,100 Canadian, it was decided that it was time for Green River to mine the Wabi claim on its own. Green River may choose to mine some of its other permitted placer claims in the future. The goal is to achieve self-sustaining cash flow from operations which will allow the Company to apply any funds raised in the capital markets directly to exploration activities. The Wabi claim is located along the Swift River and is shown in Figures 2 and 3.
Figure 3. Wabi Claim Location
Green River is uniquely positioned to efficiently 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.
The placer mining operation is being run by a team dedicated to that operation. It will augment, not distract from the Company’s priority, which is exploration of its mineral properties, particularly drilling and trenching at the Quesnel Nickel Project.
Perry Little, Green River’s President and CEO comments, “With gold prices at current levels, we see the possibility of creating significant cash flow from our placer mining assets. It is our goal to create sufficient revenue from operations to eventually cover at least our annual operating costs so that any money we raise in the capital markets goes directly to exploration or acquisitions. Our primary focus remains the Quesnel Nickel Project and our other mineral properties. In the meantime, any mining activity that produces cash flow for the Company benefits all our shareholders.”
For more information on Green River Gold Corp. and the Quesnel Nickel Project, please visit our website or contact our investor relations team.
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 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-kilometer 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.
For more information contact:
Green River Gold Corp.
Mr. Perry Little – President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193
