Green River Gold Corp. (CCR on the Canadian Stock Exchange) was founded in the Summer of 2017 by a group of investors with experience doing placer mining in the Cariboo Mining District of British Columbia through a private corporation. The Company’s executive saw near term cash flow potential in the placer mining industry and also recognized the great potential for hard rock gold discoveries based on the rich mining history of the Cariboo District. With the assistance of locally based geological consultants and miners, the Company set out to find both placer and mineral properties with good potential.

The Company’s first property acquisition was on March 13, 2019 when the Company announced that it has entered into a letter of intent with an independent third party to acquire over 8,200 hectares of mineral rights and 640 hectares of placer rights situated 12 kilometers southwest of Barkerville, in the Cariboo Mining District of British Columbia, Canada. The Fontaine Gold Project straddles an 18-kilometer length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Gold Royalties Ltd.’s Cariboo Project (formerly Barkerville Gold Mines Ltd.) and adjacent other past producing mine sites. After due diligence was completed, the acquisition closed on August 23, 2019.

One month after the acquisition closed, the area began to draw attention when the Company’s neighbour, Barkerville Gold Mines Ltd., was acquired by Osisko Gold Royalties Ltd. for $335 million.

In addition, the gold price has increased dramatically over the past year. Canadian dollar gold prices have increased from $1,741 when the acquisition was announced in March 2019 to $2,218 on March 31, 2020, an increase of $477 or 27% over the year.

In recent months the Company has continued to acquire additional placer claims. The Company is currently raising $1,000,000 through a non-brokered private placement to fund its planned exploration on the Fontaine mineral property.

While CCR is excited about the opportunity presented by their 82 square kilometres of mineral claims, the Company sees the potential to generate near term cash flow from “renting” placer claims to other placer miners. The Company sees the rising costs of acquiring claims and the increasing cost of bonding as creating barriers to entry for new placer miners and experienced miners alike. CCR’s intention is to have an inventory of placer claims that are permitted for various sized operations and charge a cash “rent” to mine the properties. Managements’ experience with various joint venture and royalty agreements has convinced the Company that enforcing a royalty on a placer claim is an extremely difficult thing to accomplish. Charging a fixed cash “rent” will generate a certain level of income from the claim while leaving the actual mining risk with the operator.

CCR also operates a mining equipment and supplies store from its office location in Quesnel in the heart of the Cariboo Mining District. An affiliated private company builds larger mining equipment such as trommels and feed hoppers and sells them under the Green River Gold Corp. brand.

CCR’s business plan is to generate short term income from “renting” placer mining claims and providing services to placer miners while continuing to explore its 82 square kilometre mineral property. All the Company’s employees and consultants are local people from the Quesnel area. The Company’s diverse operations allow for year-round employment for local residents. Placer mining is a seasonal business that typically runs from May through September or October. Being able to offer year-round employment allows the Company to keep skilled employees for the long term.

The current environment for placer mining is the best that it has been in decades. One of the prime determinants of success in placer mining is the ratio of the gold price to the oil price. That ratio is currently near an all time high. Historically, placer mining tends to enjoy a resurgence during times of economic dislocation.

CCR is headquartered in Edmonton Alberta with an office and retail mining supplies store in the heart of the Cariboo Mining District in Quesnel, British Columbia.

Company Background

Green River Gold Corp. began trading on the Canadian Stock Exchange under the symbol CCR on September 6, 2017. Previously, the Company had been known as Greywacke Exploration Ltd. and traded under the symbol GWL. The current management team took over management on May 17, 2017. On July 14, 2017 the Company issued 5,305,250 common shares at a deemed price of $0.06 per share in settlement of $318,552 of debt. This transaction restored the Company to a positive working capital position and allowed Green River Gold Corp. to transition to its new focus on gold in British Columbia.