Peter Bell: Hello, I'm Peter Bell and I'm here with Mr. Perry Little of Green River Gold Corp. Hello Perry.

Perry Little: Hello Peter. How are you?

Peter Bell: Very well, thanks. Nice to talk to you again. It's September 23rd. We talked earlier in the year and I've been following your progress since then. Well done. Keep up the hard work. One question for you here -- what's your vision for the company three years out?

Perry Little: Following the path that we're on. We have got a multi-pronged approach to generating revenue from placer mining while focusing our longer-term efforts on the hard rock potential. We've got a spectacular prospect with 90 square kilometers of hard rock property that we picked up actually in March of '19. I will get kyle to address that to you in a moment. We're unique in that we generate cash flow and have the potential to generate significant cash flow from all of the placer activities we're doing.

Perry Little: Again, we're unique in that we are a placer mining company that will never actually do any placer mining. We rent out placer mining claims to other miners and have them take the exploration risk. We get to find out what's on the property and we collect some rent while the property remains in our hands. At the same time, we are also actively selling picks and shovels to all the placer miners. We make a bit of money on equipment on supplies.

Perry Little: We've recently entered into the gold buying business. Considering the fact that we pretty much have our overhead covered in this building, it's good business. We'll just leave it at that. It's a good, solid business.

Perry Little: We think we can generate more cash flow. We have other businesses we're looking at that we would integrate into this model that would generate additional, incremental cash flow but the big prize is still a hard rock property. Kyle can speak to that more. By the way, we're proud of Kyle here this morning because last night he nailed down the nomination for the local Conservative party in the Provincial election. It was a snap election and he's a snap candidate.

Peter Bell: Wonderful. Thanks Perry. I look forward to talking to you again sometime. Please let's talk to Kyle. This is my first time talking to him. If you could pass the phone to him please and thank you.

Kyle Townsend: Hi, Peter. How's it going?

Peter Bell: Nice to meet you Kyle. I gather you are an essential part of the Green River Company here. Could you tell me a little bit about how you first got involved with us?

Kyle Townsend: I've been a placer miner for years and met Perry through the local mining community. I went and visited a few of his mine sites back in old days and the relationship grew from there.

Peter Bell: And what's your title or role here now through summer 2020 with Green River and looking into the future? There are lots of changes going on for this company and lots of opportunities to get in on the ground floor. I wonder what have you been doing, what are you going to be doing in the future, and what do you want to do?

Kyle Townsend: My title with the company is Mine Manager. My job entails overseeing the placer properties and the rentals of them, designing and performing some of the explorations on the hard rock property, permitting which is a huge part of the job, and overseeing a lot of the day-to-day operations.

Peter Bell: Great. That's a juggle. There are a few things there. I'd love to talk about all of them in turn. The stuff I'm most familiar with is probably the placer side of things and even the retail store. How much of that of your time is spent on this or that? Is it like half your time between the placer properties and the retail store?

Kyle Townsend: It's around a third of my time.

Peter Bell: OK. So the hard rock is the big question here. I wonder how much time you're putting into that and what you can say about it?

Kyle Townsend: Hard rock is my main focus. We are using outside geological consultants to design the hard rock exploration projects to get the best bang for the buck as fast as possible.

Peter Bell: Thanks, I wasn't aware much about the outside consultants with the hard rock program. Despite how closely I've been following it, I wonder about the exploration concepts -- where are those ideas are coming from and what kinds of the plan will you bring to bear on that? So many junior mining companies don't have anything going on other than their hard rock exploration, so they don't really talk about anything else. Green River is a bit different with all the cash-generating sides of the business that you're trying to launch, so it competes for attention from the audience out here looking at the company. What can you tell us about those outside consultants and those hard rock projects?

Kyle Townsend: Like I say, we use the outside consultants to get the best possible targets for exploration and to get the best out of the results.

Peter Bell: And what do those look like? I guess there's a pretty clear deposit model in mind for this part of the Cariboo gold belt, right? And you can spend millions of dollars quickly on core drilling. It's a high-stakes exploration work. I haven't seen news flow from Green River on that, so where are we with those hard rock projects? Is it just Fontaine that we're talking about here?

Kyle Townsend: For hard rock projects, yes Fontaine is is the only hard rock project. We're doing grassroots exploration to identify proper targets for drilling. We're in the grassroots stage of exploration at this point.

Peter Bell: I had a look at the MinFile and didn't see any indications of old workaround Swift River. Lots of placer records and some drilling hard rock, but not as much work here as in other parts of the Cariboo.

Kyle Townsend: Yes, the Swift River is our placer claim area. The Fontaine is a little bit to the east of the Swift River and that's where most of our where the hard rock project is located. We purchased the hard rock claims outright back in March of 2019.

Peter Bell: Do we know the price offhand?

Kyle Townsend: No, I don't know the price offhand.

Peter Bell: And work done to date versus work planned here? Where are we at?

Kyle Townsend: Work to date is some geophysical sampling, some backpack diamond drilling, some LiDAR, and some VLF-EM geophysical surveys.

Peter Bell: Building a case! I wonder about the geochem.

Kyle Townsend: We are currently awaiting results on that.

Peter Bell: There weren't any prior programs nearby when I looked around. I didn't see any geochem coverage east of Swift River. Maybe some specific, localized stuff in some of the river bends but that's more likely to be people looking for placer stuff. On the hard rock claims that we have, is there much historical work that we're building on, or are we starting from basically nothing?

Kyle Townsend: There are some previous geochem surveys that were done in the area. Most of it was done by one person and there were some pretty good results. We're trying to get similar results in the same areas to base our plan off of.

Peter Bell: And what kind of stuff was that? Was he finding outcropping quartz veins or float or were these soil geochem numbers? What are we talking about?

Kyle Townsend: Soil geochem, for the most part. There are some outcroppings, as well, with quartz veins stringers.

Peter Bell: Those start to get interesting too. Chasing those down and stripping around those -- you mentioned a backpack drill, too. In places where you have this exposure, you can go and put a bunch of short holes to add some dimensions and start to get a sense for the dip and basic orientations.

Kyle Townsend: Yes, and that program is starting this week. We got the drill last week, went and tried it out, and it works amazing. We're hitting the road running.

Peter Bell: Wonderful. Is that a drill that the company is renting or did you buy that?

Kyle Townsend: We purchased that drill.

Peter Bell: Glad to hear it. I love an exploration company that owns its own equipment. And backpack drills are one of my most favorite things. There are some guys out in Newfoundland I've talked to who have experience in the construction industry where they do non-explosive rock blasting techniques. They'll go and they'll put a little hole in with one of these small drills, then they'll put this grout in there and come back a day later -- it'll have expanded and broken the rock. If you do enough of that in a concentrated area then you can bust up the rock into pretty small pieces.

Kyle Townsend: Funny you bring that up because we've been approached by a few of our clients to have us perform that service for them on their mine sites.

Peter Bell: Wonderful. Do it! It's a great thing to do. You do that, then you go at it with a jackhammer to kind of classify it a little bit, then put it through a rock crusher and put that over a shaker table. That gives you a heavies concentrate of black sand you can assay. Maybe you will get some coarse gold off that, too. And that is all quick and cheap compared with some of the labs out there now. There's a big risk of long wait times this winter season -- planning will be important. Setting up your productive circuit is worth considering. I think of it like sniping the hard rock gold. It's like an enhanced version of what I've heard other people do to snipe gold by hand or with simple equipment. I like all the stuff you can do with these backpack drills. There are different ways of going at it and I'm glad to hear that people are talking to you about that, too. Good ideas travel, Kyle!

Kyle Townsend: One of the biggest things about the backpack drill is that they're considered a "hand mining method" so you don't need to wait for permits. You can get results relatively quickly.

Peter Bell: Even better! When I'm hunting for opportunities in various places in the USA, I look for patented claims because of the benefits those give you on the permitting side. You can get similar results working on placer claims with non-mechanized mining methods in BC, Canada. If you're doing non-machine mining then can you can do it without permitting. That's another one that warms my heart, Kyle. I'm glad to hear it. Thank you very much.

Kyle Townsend: The other thing we have going for our exploration program is all our people are local. We have no camp costs. We travel from home every day. It's a cheap way of getting exploration work done.

Peter Bell: Well done. Priorities, exploration-wise -- you bought the drill last week and you're spinning up for a program. Do you have a sense of where the outcrops are that you want to test? Do they have past grabs that had grade? Are you hunting for more new outcrops? What are we looking at?

Kyle Townsend: There are past grab samples off of the outcrops in the area, but the mapping system that they used back then is not accurate enough to guarantee that that's the outcropping that the sample came from. We're starting from scratch to make sure that our results are accurate. I have five targets to hit next week with the drill and hopefully we'll have results in a timely fashion.

Peter Bell: Wonderful. I love these old reports -- the data collections can be a big challenge when the grids don't line up for example. I heard a story recently from someone who said they had drilled off two deposits somewhere in Ontario and were mining one of them underground, but when they to build a stope out to the other one it wasn't there! Turns out the two deposits had been drilled on different grid systems. Somebody had made a choice along the way and no-one had gone back to first principles to build the story up from scratch and audit the integrity of the data. I don't know the details of that project but it was a pretty surprising story. I'd say that's an unacceptable mistake. And you are someone who's sitting in a mine manager seat, Kyle, I think you can understand.

Kyle Townsend: Definitely.

Peter Bell: I asked you before, but to ask you again -- priorities? You said you have these targets that you want to hit next week. What about the week after that? Are there more outcropping areas that you think you'd be able to find?

Kyle Townsend: We're using a drone to identify some of the outcrops that might not be accessible on foot. We locate them, go in on foot, inspect them, take grab samples while we're there, and then send them to the lab. We have pending for some of the soil samples that we've sent in as well, which will help design the rest of the season's exploration program.

Peter Bell: It's amazing what you can see from above. Sometimes you can see old shafts and sunken spots that stick out in the tree canopy. Or sometimes you can see old workings in steeper areas with exposed rock. Great stuff that fits well with having the field crew close at hand so they can mobilize and expand the program as needed. That's important, too. Funding is always the constraint really -- especially for such a new company as Green River. One question for you about labs, Kyle. Is everything going ISO certified labs for the grab samples?

Kyle Townsend: Yes, everything goes to an accredited lab.

Peter Bell: OK. Fair enough, we are a public company after all so that's the cost of doing business I guess. But I've heard tell of somebody who has a mobile fire assay laboratory that they've built in a truck or something and I think that would be a handy piece of equipment for you to have in some of these places. Just for the speed of turn-around.

Kyle Townsend: That is an interesting concept. I may have to bug you for some contact info after this.

Peter Bell: Yes, absolutely. Believe it or not, that was a contact that I made through Twitter! Wasting all this time on social media can turn up some pretty sharp people out there who are doing interesting things. Big shout out to @Howlandflat Dave Howard in California. He's pretty active on twitter recently with a lot of goldbug stuff. He's in the Sierra Mountains in California and embedded in the gold community there. It's a nascent community, but it deserves to have time in the light. Lots of opportunities down there. And the history that connects up to the Cariboo where you are now, Kyle, with that gold rush that just kept rolling along the west coast. It went far north to Yukon, too. I'm sure there's potential for Green River to follow some of those same paths, too, and maybe go north. Maybe even go south to California someday. Who knows. There is potential to build a pretty big empire for Green River I think, especially when it's such an uncontested space. The competition seems to be absent. The market's been so weak for so long and there hasn't been a lot of money to fund niche gold stuff like this. When I look at the placer industry in the Cariboo, I think how underfunded it is and I think of like how many opportunities there must be. It seems like a small niche or cottage industry private business market, but there are some really smart people doing some really good work and it makes me think -- how do you invest in this? How do you invest in this? Illiquid markets are where you get the real big returns. And you have opportunities to be that capital that takes some business to another level. That's what the discovery story is all about -- that's why we drill these holes to make these discoveries that level-up. But I see all kinds of opportunities to level-up in the placer gold mining business in BC and it's amazing to me that in Canada of all places! You'd think that the Canadian markets would be well-funded and closely watched over by sophisticated people hunting for opportunity, but I'm not convinced that's the case. I've been following you guys for six months and it's amazing how wide open it seems to be at this point. And to find that in Canada at the start of a gold boom no less? It's a very bullish setup. I love it, thank you. Anything else that you'd say about the history of projects there and what you're aiming for? Is this another Spanish Mountain or another Cow Mountain? The orogenic gold model that we're looking for is fairly clear. And you're in a good geological setting with the Eureka Thrust Fault nearby -- you're on the right side of that based on the maps I've studied.

Kyle Townsend: At this point in grassroots exploration, the sky is the limit for the results we can get.

Peter Bell: Well, I hope you do some mapping. Those drone shots are helpful, but there's so much cover. I think that area has probably been neglected from proper hard rock exploration work. I don't know how much mapping you can do without good exposure, but maybe some geophysics can help with that too Please do some mapping.

Kyle Townsend: An aero mag survey is on the horizon in the future.

Peter Bell: And drone geophysics? Go for it. That's a very important area that's changing quickly. As you start doing these geophysical programs, you can do data mining. These programs generate a lot of data and if you have data coverage of known deposits nearby then you have a true positive, right? You can start calibrating your search to those other deposits -- what does another Cow Mountain look like? There are differences in the structural setting or the rock types or other important things, it's game-on in terms of new things in old places.

Kyle Townsend: Exactly. Some of our neighbors are quite active and our area is heating up.

Peter Bell: Big shout out to Omineca Mining and Metals to the north of you. Their Wingdam project is very exciting. And Kore Mining, too. I think I saw them come in and option a thousand square kilometers in the Cariboo? That's the largest mineral land package I've ever seen in Canada or the USA. It's down in the southern Cariboo around Spanish Mountain. You may look at the geological maps and say that's the wrong ground -- not very interesting -- but I'm just saying that you've gotta look at the headline. Look at how much ground they picked up! They're a pretty sophisticated group, Kore Mining $KORE is the ticker. They're well known and well-liked from what I understand. Anyone online, please tell me otherwise if I'm missing something. I've followed them for a while and interacted with them a bit here and there and always been impressed. To see them make a major move into Cariboo like that is very encouraging.

Peter Bell: And there's been some excitement in northern BC with porphyry copper stuff recently. And northern BC is always wild in the Triangle. Then, you can go out the Peace River in the northeast part of the province and there's some other stuff going on with nickel at Turnagain making waves and catching attention. And even in southeast BC, the Eagle Plains guys drilled a Sullivan look-alike target this year. I don't think they hit any grade to write home about yet, but I see there are all kinds of examples of people taking big swings across the province of BC this year. It's nice to see you guys with the backpack drill taking a little swing for a change! Let's just drill some outcrop with a one-inch diameter tube -- quickly and cost-efficiently. Let's get the results we need to proceed and get you on base. Green River was like a $2M market cap company recently that's not widely known. And even the people who do know it seem to be confused. The people I talk to about it have all kinds of questions and concerns, "What is this company? What's it doing?" They don't exactly recognize it. That's fine, you'll need dollar buyers at a $50M market cap or whatever they say.

Peter Bell: Well, thank you, Kyle. Have you been involved in anything like this yourself before Green River Gold?

Kyle Townsend: No, this would be a first for me.

Peter Bell: Wonderful. And what's the sense of things in Quesnel -- the local perspective on the company?

Kyle Townsend: It's good. Everybody likes to see a local company grow in the local job market and give back to the community.

Peter Bell: And there wasn't anybody else selling picks and shovels before this?

Kyle Townsend: Not like we are., no. There was the odd bit here and there scattered throughout town, but there was a need for a gold mining store. We've fulfilled it and it's beating our expectations. It's amazing.

Peter Bell: And the chicken-and-egg stuff is at play here. Sometimes supply creates demand. People say they wouldn't have gone in on an opportunity like the retail side of things just because it wasn't proven, but how could you know? What statistics are available? There's not much info out there. And nobody's done it, yet there's a huge need if you know how to read the local community and see what's going on although doing that is not so easy. I've tried to look around for some government stats on gold production from the BC government on placer gold mining and it's pretty hard to find anything current or accurate. Over the next decade or whatever, will the placer mining become more mainstream? Will it become more important? I think it deserves to be. Perry's talked before about the history of the Great Depression how placer mining in Cariboo was a job creator for the Canadian government. I think it can be that way again. I think it can be a really good business for that community, BC, and the whole country.

Kyle Townsend: We're seeing that in our retail store. It is a big job creator and there are a lot of people getting out there to hit the rivers for placer gold this year that aren't working elsewhere.

Peter Bell: Well, I'll invite those people out to come visit you at the store and say hi. What's the address?

Kyle Townsend: 3650 highway 97 North in Quesnel.

Peter Bell: Kyle, thank you very much for talking with me here. Goodbye.