Economic Conditions Leading Analysts to Predict Gold Prices Will Continue to Rise

Palm Beach, FL – October 15, 2020 – Gold has always been a rare but mostly coveted commodity. Rarity is the primary reason for its value and it will continue to be a ‘safe haven’ in times of global crisis and it’s uncertain when the world will recover from of this crisis. Many believe that it is in such times of uncertainty that gold is touted as a “safe haven” for those looking for shelter from more traditionally volatile investments, like stocks. But other observers also see gold stocks as a good place to be. Renowned investor Warren Buffett once famously said: ““Gold gets dug out of the ground in Africa or someplace, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” Yet for all that, we remain in love with gold – especially in times of uncertainty. With the COVID-19 crisis, interest in gold has soared, driving its price to historic highs. Even Buffett seems to have softened his longstanding antipathy, with his company Berkshire Hathaway acquiring a US$565 million stake in the world’s second-largest gold miner, Canada’s Barrick Gold Corporation.   An article from The Conversation continued saying why gold is and has been a safe haven: “The simple answer is that it has worked in the past. Based on past experience in a crisis, people believe in the safe haven feature of gold and it works because they believe in it.  Active stocks in the mining markets this week include Barrick Gold Corporation (NYSE: GOLD)(TSX: ABX), Golden Independence Mining Corp. (CSE: IGLD), Gold Standard Ventures Corp. (NYSE: GSV) (TSX: GSV), Eldorado Gold Corporation, (NYSE: EGO) (TSX: ELD), Kinross Gold Corp. (NYSE: KGC) (TSX: K).


Gold has been used since ancient times as a store of value. Helping it achieve this status is its aesthetic appeal, malleability (with a relatively low melting point making it easy to produce coins or jewelry), virtual indestructibility (almost all the gold that has ever been found or mined is still around) and, most importantly, rarity. Though hundreds of thousands have dug and panned for it over history, the amount of gold mined has never been enough to devalue it.   The article continued: “Because of these features, gold became the basis for money and played a formal monetary role during the gold standard, which required nations to hold gold reserves as a backing of their currency.”


Golden Independence Mining Corp. (CSE: IGLD) BREAKING NEWS:  GOLDEN INDEPENDENCE COMMENCES DRILLING AT ITS   INDEPENDENCE PROPERTY IN NEVADA –  Golden Independence (CSE: IGLD) (FRA:6NN) (the “Company”) is pleased to announce the drill program has commenced on its Independence Gold project in Battle Mountain, Nevada (the “Independence Property”).


New Frontier Drilling LLC of Reno, Nevada, contracted to complete the drill program, collared the first drill hole on October 11th, 2020. The 12,000-foot Phase 1 diamond and reverse-circulation drilling program, is fully-funded through the Company’s recently-completed oversubscribed $4 million private placement. The Company is currently permitted to drill in excess of 160 holes from over 80 drill sites. The objective of the drill program remains to confirm the historic resource to current and expand the areas of known mineralization, culminating in a resource estimate anticipated in early 2021


Tim Henneberry, CEO & Director, stated “We are excited to have drills turning at Independence, which will allow us to attain our corporate objective of delivering a resource estimate in Q1/2021. Given the strategic location of our Independence Property, within ~3,000 feet from Nevada Gold Mines’ Phoenix-Fortitude operation, we remain highly encouraged about the prospectivity of the project and the potential for further discoveries.”


Corporate Update – The Company is pleased to announce it has retained Digital257 Technologies Inc. (“Digital257”) to provide investor relations services to the Company, pursuant to a consulting agreement dated October 6th, 2020.  Digital257 is a digital marketing firm specializing in investor audience growth and awareness.  Digital257 provides digital media and capital markets communications services and will assist the Company with online communications with the goal of increasing market awareness of the Company (the “Services”). In consideration for these Services the Company has agreed to pay Digital257 a fee of C$9,000 per month for a six-month period plus an initial set-up fee of C$10,000. To the knowledge of the Company Digital257 does not have any interest, directly or indirectly, in the Company or its securities or any right or intent to acquire such an interest.  The appointment of Digital257 is subject to TSX Venture Exchange approval.   Read this entire release along with charts and images for the Golden Independence news at:


Other recent developments in the markets include:


Barrick Gold Corporation (NYSE: GOLD) (TSX:ABX) recently announced that wholly-owned subsidiaries of Barrick and Bullfrog Gold Corp. (“BFGC”) have entered into a definitive purchase agreement pursuant to which Barrick will sell to BFGC all of Barrick’s mining claims, historical resources, permits, rights of way and water rights in the Bullfrog mine area. The transaction is expected to close during the fourth quarter of 2020.


The Mineral Lease and Option to Purchase Agreement between a subsidiary of BFGC and Barrick dated March 23, 2015, as amended, has been terminated, eliminating Barrick’s back-in right.


Gold Standard Ventures Corp. (NYSE: GSV) (TSX: GSV) recently announced plans for an expanded 2020 development and exploration drilling program on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend.  The approximate USD $10.05M program includes an estimated 10,457m of reverse-circulation (“RC”) and core drilling in 67 holes, and includes funding for development, exploration, permitting and operational requirements in support of the ongoing South Railroad Feasibility Study.  The Company currently has approximately CAD $28.3M in treasury.


The expanded 2020 program objectives are: (1) complete the conversion of Pinion Phase 4 to Measured and Indicated confidence level to increase reserves; (2) advance the South Railroad Project Feasibility Study; (3) file the south Railroad Plan of Operations to begin the permitting process; (4) extend and define the limits of near-surface oxide mineralization at the Dark Star and Pod / Sweet Hollow deposits to increase resources; and (5) test a variety of new near-surface oxide gold targets within the district.  Funding for this program was obtained through an at the market (“ATM”) equity program announced on April 17, 2020 (see news release) and investment by Orion Mine Finance on July 16, 2020 (see news release).  GSV has completed its previously announced “at the market” equity offering program (the “ATM Program”) on September 7, 2020. Pursuant to the ATM Program, 15,000,000 common shares of the Company were issued for aggregate gross proceeds of approximately $15,678,000.


Eldorado Gold Corporation, (NYSE: EGO) (TSX: ELD) recently announced Q3 2020 preliminary production of 136,672 ounces of gold, a 35% increase over Q3 2019.  Gold production at Kisladag increased 66% over Q3 2019 and was consistent with Q2 2020. Gold recoveries continue to be as expected and solution grades increased over the summer due to drier weather. Production for 2020 remains slightly below expectations as solution inventories remain higher than normal. We expect to see continued benefit from drawing the solution inventory down through the balance of 2020 and into 2021. Budgeted improvements are being made in the solution processing plant to further increase capacity and are expected to start coming online in Q1 2021.


Lamaque had record gold production in Q3 2020. Production was higher compared to Q3 2019 and Q2 2020 due to an increase in tonnes mined per day that was enabled by the revised Certificate of Authorization from the Quebec Ministry of Environment. Additionally, for the month of September, underground development moved into higher grade ore at the top of the C4 zone which had a positive impact on ounces produced.


Kinross Gold Corp. (NYSE: KGC) (TSX: K)  has entered into agreements to acquire a 70-per-cent interest in the high-quality Peak gold project in Alaska from Royal Gold Inc. and Contango ORE Inc. for total cash consideration of $93.7-million. Kinross will have broad authority to construct and operate the Peak gold project, with Contango retaining a 30-per-cent non-operating minority interest.


The Peak gold project is a relatively high-grade deposit with a large estimated resource base that is expected to commence production in 2024 as a low-cost, open-pit mine. The project, which is located approximately 400 kilometres (250 miles) southeast of the company’s Fort Knox mine, is a low-risk tuck-in to supplement Kinross’s existing Alaska operation. Kinross plans to process Peak gold ore at Fort Knox and utilize the existing mill and infrastructure to benefit both the project and the mine.


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