Mr. Randy Turner reports

INDEPENDENCE GOLD ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Independence Gold Corp. has closed the non-brokered private placement announced Dec. 8, 2025.

The company issued 3,622,400 units at a price of 10 cents per unit for proceeds of $362,240, and 28,525,092 flow-through common shares (FT common shares), and together with the units, at a price of 11 cents per FT common share for proceeds of $3,137,760 for total proceeds of $3.5-million under the offering.

Randy Turner, president and chief executive officer of the company, commented: "We are very pleased that the market continues to support the company with the completion of another successful financing. This funding will allow us to focus on growing the resources, as well as a major exploration program at the 3Ts project."

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share in the capital of the company at an exercise price of 15 cents per common share for a period of 24 months from the date of issue. The company paid aggregate cash finders' fees of $193,545 cash and issued an aggregate of 1,773,953 non-transferable finders' compensation warrants in connection with the distribution of FT shares and units to arm's-length subscribers. Each finder's warrant entitles the holder to purchase one common share of the company at a price of 15 cents per common share until Dec. 19, 2027.

Insiders of the company participated in the private placement on the same terms and conditions as non-arm's-length subscribers, subscribing for a total of 472,400 units and 500,000 FT common shares for aggregate proceeds of $102,240. The issuance of these securities to the insiders of the company are related party transactions under the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related party transactions under sections 5.7(1)(b) and 5.5(b), respectively, of MI 61-101. There has been no prior formal valuation of the common shares and warrants issued as there has not been any necessity to do so. The private placement has been reviewed and unanimously approval by the company's board of directors, including the independent directors. In accordance with applicable securities legislation, all securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of the completion of the offering.

The proceeds from the sale of the FT common shares will be used by the company to incur for Canadian exploration expenses as defined by the Income Tax Act (Canada) at its properties in British Columbia, Canada, and the unit proceeds will be used for both exploration and general and administrative expenses.

We seek Safe Harbor.