Press Releases

Goldrich Receives Approval to Significantly Expand Gold Mining Operations at Chandalar

Spokane, WA - September 4, 2013 - Goldrich Mining Company (OTCBB: GRMC) (“Goldrich”) is pleased to report that its 50% owned subsidiary, Goldrich NyacAU Placer, LLC (“GNP”), has received the necessary permit and government approvals to expand its mining operations at Chandalar, Alaska where production began this summer.

The new permit allows GNP sufficient space to install multiple plants. A modified mining plan and construction of components for a multi-plant facility are already underway. Fabrication of a feeder capable of feeding three plants has been substantially completed. It will be shipped to Alaska this winter and will be commissioned for use with the existing plant in 2014. A second and third plant are planned to be added after 2014.

“This is a major milestone and we are extremely pleased to have the permit in hand,” said Goldrich President and CEO William Schara. “The permit further enhances the Chandalar project and will allow us to substantially increase gold output.”

In anticipation of receiving the permit, GNP modified its 2013 mine plan to allow for a multi-plant facility. While modification of the mining plan will result in fewer days of production and decrease 2013 output, overall future production will be able to be materially increased. The initial modifications under the new mining plan have already been completed and production using the existing plant began in the latter part of August.

While the mineralized material at the mine is not a mineral reserve as defined in SEC Industry Guide 7, Goldrich has completed approximately 15,000 feet of drilling to date and have outlined 10.5 million cubic yards, at an average head grade of 0.025 ounces of gold per cubic yard, for an estimated total of 250,000 contained ounces.

Mining operations at the Chandalar mine utilize conventional gravity technologies for gold recovery. All plants will employ a recirculating closed-loop water system to minimize water usage and protect the environment . The new mining permit provides an increased area for stockpiling topsoil, a larger settling pond system with greater capacity to ensure water quality and availability, and room to allow concurrent mine reclamation as the project advances. In addition the permit also allows for construction of a new airstrip. The total area authorized by the new permit, including area for the new airstrip, is approximately 350 acres.

FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern use of proceeds and potential exercise of the warrants. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, “should” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation:

- risks related to our ability to continue as a going concern being in doubt;
- risks related to our history of losses;
- risks related to our outstanding gold forward sales contracts and notes;
- risks related to need to raise additional capital to fund our exploration and, if warranted, development and production programs;
- risks related to our property not having any proven or probable reserves;
- risk related to our limited history of commercial production;
- risk related to operating a mine;
- risk related to accurately forecasting production;
- risks related to our dependence on a single property – the Chandalar property;
- risks related to climate and location restricting our exploration and, if warranted, development and production activities;
- risks related to our mineralization estimates being based on limited drilling data;
- risks related to our exploration activities not being commercially successful;
- risks related to actual capital costs, production or economic return being different than projected;
- risk related to our joint venture arrangements;
- risks related to mineral exploration;
- risks related to increased costs;
- risks related to a shortage of equipment and supplies;
- risk related to fluctuations in gold prices;
- risks related to title to our properties being defective;
- risks related to title to our properties being subject to claims;
- risks related to estimates of mineralized material;
- risks related to government regulation;
- risks related to environmental laws and regulation;
- risks related to land reclamation requirements;
- risks related to future legislation regarding mining laws;
- risks related to future legislation regarding climate change;
- risks related to our lack of insurance coverage for all risks;
- risks related to competition in the mining industry;
- risks related to our dependence on key personnel;
- risks related to our executive offices not dedicating 100% of their time to our company;
- risks related to potential conflicts of interest with our directors and executive officers;
- risks related to market conditions; and
- risks related to our shares of common stock.

This list is not exhaustive of the factors that may affect our forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are discussed in the Company’s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

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