05:00:00 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Green River Gold Corp
Symbol CCR
Shares Issued 124,846,053
Close 2024-04-01 C$ 0.045
Market Cap C$ 5,618,072
Recent Sedar Documents

Green River to begin Wabi placer gold mining in May

2024-04-02 09:51 ET - News Release

Mr. Perry Little reports

GREEN RIVER GOLD CORP. TO COMMENCE PLACER GOLD MINING ON THE WABI CLAIM ON THE SWIFT RIVER IN MAY 2024

Green River Gold Corp. intends to commence placer gold mining operations on its 100-per-cent-owned, fully permitted and bonded Wabi claims on the Swift River, approximately 45 minutes from its field headquarters in Quesnel, B.C. The company has two very strong, exciting 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. This placer gold mining operation demonstrates Green River's commitment to move both platforms forward in parallel as the company sees significant potential in both its critical minerals and precious metals properties.

About Green River's Swift River placer mining claims and plans

Green River holds six contiguous placer mining claims totalling 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 1870s. The company also holds placer claims on several other creeks and rivers in the Cariboo mining district.

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 hitting all-time highs of above $3,000, the decision was made to have the company mine some of the claims 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 direct any funds raised in the capital markets directly to exploration activities.

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 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 (PGeo), has decades of experience in placer gold mining and has personally designed and operated placer mining operations.

The placer mining operation will be 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 chief executive officer, 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."

Qualified person

Mr. 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 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 is committed to creating long-term value for shareholders and stakeholders.

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 of land, along the southeast flank of Mount Catherine.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.