SPOKANE, WA - July 28, 2017- Goldrich Mining Company (OTCBB: GRMC) (“Goldrich” or the “Company) announces the following:
Short-term Bridge Financing
Goldrich has received a short-term bridge loan for $600,000. The interest rate is 15% per annum and the loan is due August 31, 2017. The loan is from a director of the company. The Company is currently in discussions to obtain a long-term loan but terms have not been finalized.
Goldrich further announces the Chandalar mine produced 2,937 ounces of raw placer gold, which is approximately equivalent to 2,417 ounces of fine gold, in June. The Chandalar mine is owned by Goldrich NyacAU Placer, LLC (“GNP”), a 50/50% joint venture between Goldrich and NyacAU, to mine the various placer deposits that occur throughout Goldrich’s 23,000-acre Chandalar gold project in Alaska. NyacAU is the manager of the joint venture.