Edmonton, Alberta (October 3, 2022) – Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River“) is pleased to update the progress on the 2022 exploration program at its Quesnel Nickel/Magnesium/Talc Project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

Figure 1. Drill Collar Locations Zone 1 and Zone 2 and two additional holes

The Company has intercepted nickel and chromium in seven additional backpack Drill Holes in Zone 2 (Drill Holes FCD-22-11 to FCD-22-17). The Company also extended the depth of Drill Hole FCD-22-08. This brings the total number of holes drilled in Zone 2 to seventeen. Every hole drilled in Zone 2, as well as all holes drilled previously in Zone 1, have intercepted nickel and chromium from surface.

The drill core for all Drill Holes was delivered to the Company’s facility in Quesnel and scanned with an XRF analyzer. The XRF results for nickel and chromium for each of the seventeen Drill Holes in Zone 2 are reported in the following table.

Zone 2 Hole Averages

Hole #Meters drilledNi Hole Average %Cr Hole Average %
FCD-22-015.90.2080.141
FCD-22-022.00.2030.171
FCD-22-033.00.2450.139
FCD-22-045.30.2140.165
FCD-22-055.20.1950.141
FCD-22-064.70.1910.174
FCD-22-076.00.2130.133
FCD-22-087.00.1730.125
FCD-22-094.90.1610.169
FCD-22-105.20.1850.128
FCD-22-116.00.1920.162
FCD-22-123.90.2290.199
FCD-22-132.30.1750.150
FCD-22-144.40.2100.120
FCD-22-156.00.1870.147
FCD-22-167.30.2180.166
FCD-22-174.50.2160.154
Total Meters Drilled83.6
XRF Average Grade over 17 Holes0.2000.152

Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series handheld X-ray fluorescence (XRF) and produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.

Zone 2 is located approximately 8 kilometers southeast of Zone 1 which is known to contain nickel, chromium, magnesium, and talc, based on previous drilling. Zone 2 consists of a bedrock outcrop covering an area of over 1.2 square kilometers. Both Zone 1 and Zone 2 are located along the 14 kilometer long Deep Purple magnetic anomaly.

The Company has also drilled two holes outside of the previously drilled Zones 1 and 2 and intersected nickel and chromium from surface in each of the holes. Drill Hole DD-22-11 was drilled from a small outcrop southeast of Zone 1, and in between the two larger outcrops known as Zone 1 and Zone 2. Drill Hole DD-22-11 averaged 0.223% nickel and 0.119% chromium over 2.5 meters. Drill Hole DD-22-12 was drilled from a small outcrop northwest of Zone 1 and averaged 0.178% nickel and 0.140% chromium over 6.6 meters. The distance between Drill Hole DD-22-12 which is the furthest hole drilled toward the northwest of the property, and Drill Hole FCD-22-13 which is toward the southeast portion of Zone 2, is approximately 10 kilometers.

The drill core for these two new Drill Holes was delivered to the Company’s facility in Quesnel and was scanned with an XRF analyzer. The following tables show the meter-by-meter XRF results of Drill Holes DD-22-11 and DD-22-12. As with all the previous drill holes mineralization was present from surface.

Magnesium values are not recorded with the XRF scanner so any magnesium values will have to await assay.

Perry Little, President and CEO of Green River Gold Corp. comments; “We are thrilled to see a continuation of the mineralization from surface everywhere we have drilled on Zone 2. We are also very excited to see similar results from two locations outside of Zone 1 and Zone 2. Green River has yet to drill a hole anywhere on the 14 kilometer long Deep Purple anomaly that does not have similar nickel and chromium values from surface and we have drilled various locations over a 10 kilometer stretch of the property so far. We remain hopeful that the mineralization will continue over the entire Deep Purple anomaly.”

Figure 2 – Zone 2 with all 17 Drill Hole Locations

Future Drilling Plans on Zone 1 and Zone 2

On October 1st, The Company started a new drilling program. Green River plans to drill a total of 10 Drill Holes on Zone 2 using a Winkie drill capable of reaching depths of 100 meters in ideal conditions. The Company will also use a Winkie drill to drill deeper on two Drill Holes that were started in Zone 1 last Spring and will be drilling one additional hole in Zone 1 as well. The backpack drilling completed so far has given Green River information that has been of great assistance in choosing the locations for the deeper holes. Backpack drilling will be continuing.

Quesnel Nickel/Magnesium/Talc Project Highlights:

There are 3 BC MINFILE occurrences as follows:

  • 093A 013 – Sovereign Creek – developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.
  • 093A 130 – Sovereign – showings containing talc and nickel sulfides.
  • 093H 061 – R.T. – showing containing nickel, chromium, and cobalt.

Fontaine Lode Gold Exploration Plan:

Last year, the UAV magnetic survey identified many anomalies in the area. In 2022, the exploration crew will collect soil and rock samples from the anomalous locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate mineralized occurrences. The project geologist will summarize historical mining activities and previous exploration records. The historical records will be plotted on a map and verified during the 2022 field season.

Qualified Person:

Stephen P. Kocsis 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 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 and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and 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

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

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.