OTCMKTS: GRMC www.goldrichmining.com

Spokane, Washington/ACCESSWIRE/December 8, 2021/Goldrich Mining Company (OTCQB:GRMC) ("Goldrich" or "Company") is pleased to announce that the company has filed with the Alaska Department of Natural Resources ("DNR") License application") to carry out a multi-year, 25,000-foot diamond core drilling program at the company’s Chandalar property. After approval and financing, Goldrich plans to start an initial 12,000-foot project in May 2022 .

The target area of ​​the drilling program is located on the Little Squaw Creek ("LSC") drainage system, adjacent to and partially overlapping with the LSC placer deposit and deposit-historically one of the largest placer deposits and production placer deposits in North America (see " Goldrich Mining issued a preliminary assessment report; the results showed that the strong project economics of the $64 million after-tax NPV" press release on June 11, 2021). The target area is located in the center of an area, surrounded by historic placer operations and four historic hard rock gold mines in each creek. The edges and corners of the placer gold nugget also indicate that it is very close to the hard rock source.

Figure 1-Proposed drill floor site in 2022:

Dr. Michael Rasmussen, Director of Goldrich, pointed out: “Comprehensive geological evidence shows that gold mineralization is surrounded by a magma-hydrothermal system, which forms the underlying body of felsic intrusive igneous rock (ie, granite-like rock mass), which is now covered by Goldrich geology. Scientists believe it is the main source of placer gold in the Chandalar area. Such geological data put the area into a geological category similar to Fort Knox (13.6 million ounces) and Tanglin Creek (45 million ounces)-also known for its long history of placer gold Famous for production."

The understanding of the Chandalar magma-hydrothermal alteration system comes from considering a large number of geological factors, including structural, lithofacies, geochemical and geophysical evidence-including previous vein drilling upstream of Little Squaw Creek, which found important gold-bearing pegmatites Die rock belt. <2 feet thick), usually associated with heavy chlorite schist containing gold and gold-associated (arsenopyrite) minerals. The small dykes are composed of quartz, siderite and feldspar, which are completely transformed into clay by the hydrothermal fluid. Importantly, the vessel contains high-temperature accessory minerals that indicate an invasive association, especially xenotime and sphenoidal lead.

In 1982, John Dillon (John Dillon) published the Alaska public document report 158 ​​entitled "The source of the Chandalar and Upper Koyukuk area of ​​the veins and placer gold deposits", the similarity of gold sources related to intrusiveness was expressed in the report 158 in conclusion. DNR. Mr. Dillon concluded: “The most likely prospects for more gold deposits are in the roofs and cupolas of granite rock masses”.

It is worth noting that the U.S. Geological Survey ("USGS") No. 66-53 public document report considers that the Kobuk Trench may be the offset or opening of the Tintina fault system. The province has many huge gold deposits, which are important gold deposits. Mineral deposit. The driving force of the Alaska economy. The Chandalar gold mine is close to the Kobuk Trench, so it may have similar gold deposits.

Proposed drill floor location and drilling

The proposed diamond core drilling application involves six drill pads from which multiple holes can be completed. The drilling site is located in a mountainous area with an altitude of approximately 2,600 to 4,650 feet. The drill floor is shown in Figure #1, #3 and #4, and the geographic coordinates of the drill floor are listed in the recommended drill floor location table (Figure #2).

Most of the proposed rigs are currently located in mines, wide areas of existing roads, or previous drilling yards. Tentatively, drilling activities will begin on the proposed drill floor #3 (Figure 1). Thereafter, the location and sequence of the drill holes will depend on the geological findings of the previous drill holes. A combination of angle and vertical HQ size drilling can be used at any location, and for longer holes, it may be reduced to NQ size holes. The drilling depth can reach up to 3,000 feet vertically below the surface. The total footage of some combinations of vertical and angular drilling is expected to reach approximately 25,000 feet. The exercise plan is a multi-year plan. Each drilling activity will be limited to approximately the summer between May 1 and September 30, depending on weather conditions.

As the Chandalar mining area has a well-developed and well-used channel system that connects all historical mines and most exploration areas, there is no need for helicopter-supported drilling plans. The existing network of old roads and tracks can be used to access all proposed drill floor sites. Currently, no new passages are expected to be constructed.

Figure 2-Proposed table of drill floor locations in 2022:

Figure 3-Topographic map with the proposed 2022 drill floor site:

Figure 4-The proposed mine claim map for the 2022 drill floor location:

Goldrich Mining (OTCQB: GRMC) is an American resource company focused on the development of the Chandalar gold mining area in Alaska, USA. The company controls a 23,000 acres of potential gold target and a land parcel of a historic mine. Goldrich's main focus is on the exploration and discovery of hard rock (vein) targets, which are the source of placer deposits, while also working to build shareholder value by monetizing placer assets.

For more information about Goldrich Mining Company or this press release, please contact Mr. William Schara at (509) 768-4468 or this email address is protected from spam bots. You need to enable JavaScript to view it. .

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve the use of proceeds and the potential exercise of warrants. These statements involve analysis and other information based on forecasts of future results, undetermined amount estimates, and management assumptions. Any statement that expresses or involves discussion of predictions, expectations, beliefs, plans, budgets, forecasts, goals, assumptions, or future events or performance (usually, but not always, using words such as "expected" or "unexpected" or Phrase) “expected”, “anticipated”, “anticipated” or “unexpected”, “planned”, “estimated” or “intended”, or stated that certain actions, events or results “may”, “may” or “will” , “May”, “should” or “will” take, occur or achieve) statements that are not historical facts and may be forward-looking statements. Forward-looking statements are subject to various known and unknown risks, uncertainties and other factors These factors may cause actual events or results to differ from those expressed or implied in forward-looking statements. Investors should not rely excessively on any forward-looking statements and should consider the company’s latest annual report on Form 10-K and quarterly report on Form 10-Q The uncertainties and risks discussed under the heading "Risk Factors" are submitted to the U.S. Securities and Exchange Commission ("SEC") and can be found on the SEC website or www.goldrichmining.com and other SEC documents of the company. We are not responsible for subsequent Modify any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect any obligations that anticipate or unexpected events occur, unless required by law.

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