James Bay Minerals Advances Low-Cost Gold Development at Nevada’s Independence Project

• Scoping study underway for near-surface oxide gold resource at Independence Project
• Focus on low-capex open-pit heap leach development led by Kappes, Cassiday & Associates
• Indicated Resource of 294,395 ounces at 0.40 g/t Au and Inferred Resource of 90,702 ounces at 0.32 g/t Au
• High-grade skarn system with ~1 million ounces at 6.67 g/t Au offers expansion opportunities