Mr. Perry Little reports

GREEN RIVER GOLD RECORDS ANOMALOUS HIGH GOLD, COBALT, LEAD, AND ZINC XRF READINGS AT THE QUESNEL NICKEL PROJECT

Green River Gold Corp. has provided its preliminary results for drill hole WK-23-01 on its 100-per-cent-owned Quesnel nickel project, located 40 kilometres east by road, from Quesnel, B.C., in the prolific Cariboo mining district in south-central British Columbia, Canada.

The company completed the first Winkie drill hole (WK-23-01) for the 2023 season, which ended at a depth of 120.9 metres. Drilling was halted at this depth due to difficult rock conditions. Drill hole WK-23-01 was drilled approximately 900 metres southeast of zone 1, between zone 1 and zone 2. A strong serpentinized alteration zone was intersected from 47.4 metres to 50.8 metres.

The alteration zone shows a yellowish-green colour and associated disseminated sulphides. Semi-massive sulphides along a narrow quartz vein were noticed at a depth of 48.6 metres. The semi-massive sulphides contain pyrite, sphalerite, galena and highly magnetic pyrrhotite. The XRF scanning on the semi-massive sulphides returned high gold, zinc, lead and cobalt anomalies. Core samples are being sent immediately for assay.

The project geologist Tyler Tian comments: "With the anomaly of gold, zinc, cobalt and lead, we believe this drill hole is close to a potential local source of gold, silver, lead and zinc metallic vein system filled by hydrothermal fluids through the neighbouring Eureka thrust fault. We look forward to seeing more of this type of vein in core and bringing more variety to the project."

The primary host rock for this hole is the ultramafic rock, peridotite, belonging to the Slide Mountain terrane (crooked amphibolite), which contains consistent grades of nickel, cobalt, magnesium and chromium in all previous drill holes. The drill core was delivered to the company's facility in Quesnel and was scanned with an XRF analyzer. From the surface to 120.9 metres, the XRF scanned every 10 centimetres on the drill core and results averaged 0.194 per cent nickel, 0.0157 per cent cobalt, 0.195 per cent chromium and 22.47 per cent magnesium. The XRF results for all four minerals are quite consistent with the assay and XRF results from the previous 42 holes drilled.

Note: The XRF data are taken as point values and will not represent the true grade of the samples analyzed. The elemental data are highly dependent on the location of which the beam intersects the rock. The device used to take the data points is a 2023 SciAps X-550 hand-held X-ray fluorescence (XRF) analyzer, which produces a beam spot diameter up to three millimetres. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.

Perry Little, president and chief executive officer of Green River, comments: "Once again, the nickel, cobalt, chromium and magnesium mineralization started at the bedrock surface. That is the result we were hoping to achieve. The very pleasant surprise was finding the zone with the high gold, zinc, cobalt and lead XRF readings. That introduces even more possibilities for the 14-kilometre-long Deep Purple magnetic anomaly. We await assay results for the newly discovered alteration zone."

This phase of drilling is a continuation of the zone 1 and zone 2 drilling program from 2022 and will comprise approximately 500 metres in five diamond drill holes. The 2022 Quesnel nickel program consisted of 42 diamond drill holes, all of which encountered significant nickel, magnesium, chromium and cobalt commencing at surface. The drill holes from 2022 were drilled from two large outcrops known as zone 1 and zone 2 which rise approximately 700 feet above the surrounding ground. The deepest hole in 2022 was drilled to a depth of 128 metres and ended in mineralization (see press release dated Jan. 5, 2023).

The next drill hole WK-23-02 is presently being drilled 900 metres northwest of WK-23-01. This next hole is intended to verify the nickel potential in the Slide Mountain terrane closer to zone one. The strong alteration zone identified in WK-23-01 will be another exploration target for the coming drilling program.

The second stage of this year's program (see description below) will also include 20 planned NQ diamond drill holes involving a 6,000-metre program to test at depths down to 300 metres and expand on the 14-kilometre strike around and between zone 1 and zone 2. The 2023 program also includes plans for exploration groundwork on its newly acquired Fontaine gold project, which will include bedrock mapping, soil and rock sampling, and a geophysical program. Program details will be announced as they are finalized.

Quality assurance, quality control

An AQTK or 35.5-millimetre (1-3/8ths inches) diameter core barrel was used for the 2023 diamond drill program at the Quesnel nickel and talc property. The drill stem dip and azimuth were oriented at each collar location by a qualified geologist prior to drilling. Core samples were generally selected between 0.6- and 1.5-metre intervals, depending on identified lithology and mineralization style. The core was cut in half with a diamond core saw, with half of the core placed in sample bags and the remaining half securely retained in core boxes at Green River's office in Quesnel. Standard samples and the repeat samples which returned from previous assaying and blanks (CDN-BL-10) were systematically inserted into each batch of samples at regular intervals. The standard samples include high-grade (CDN-ME-2001) and low-grade (CDN-PGMS-29) nickel samples purchased from CDN Resource Laboratories in Langley, B.C. The core samples placed in sealed bags were shipped directly to Met-Solve Laboratories Inc. (MSA) in Langley, B.C. The assaying lab preparation procedure included crushing the entire sample to 80 per cent passing two millimetres, riffle splitting 250 grams and pulverizing the split to 95 per cent passing 105 micrometres. Base metal analyses are determined using the four-acid digestion method with an inductively coupled plasma-optical emission finish. Gold analyses are determined using the fire assaying method with an ICP-EM finish. Analytical results are verified with the application of industry-standard quality assurance and quality control (QA/QC) procedures. MSA Labs has an International Organization for Standardization 17025 certificate.

Qualified person

Stephen P. Kocsis (PGeo) 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 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 kilometres 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 B.C., approximately 28 kilometres west of the town of Invermere in the Golden mining division. The property is made up of two mineral tenures, totalling 1,625 hectares, along the southeast flank of Mount Catherine.

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