Proven Probable

Photo of Visible Gold

Rowan Project Section Locator Plan

Section 1: Looking Southwest

Vein 101 Long Section Looking North

Rowan & Madsen Projects Location Map

VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:WRLG) (OTCQB: WRLGF) is pleased to announce the following update from the 2023 exploration drilling program on its 100% owned Rowan Property located in the prolific Red Lake Gold District of Northwestern Ontario, Canada. Hole RLG-23-163B intersected 70.80 grams per tonne (“g/t”) gold (“Au”) over 8.3 metres (“m”), including 1,120.19 g/t Au over 0.5 m.

This hole represents the highest-grade intercept ever drilled across the Rowan Property and is a testament to the continued success our exploration team is achieving with the 2023 drilling campaign. The drill program at Rowan has already been expanded from 17,000 m to 25,000 m, and these results only further validate the team’s commitment to the Rowan asset.

HIGHLIGHTS:

• Hole RLG-23-163B Intersected 8.3m @ 70.80 g/t Au in Vein Zone 101 from 387 m to 395.3 m, including 0.5 m @ 13.46 g/t Au from 389 m to 389.5 m, 0.5 m @ 1,120.19 g/t Au from 393.5 m to 394 m and 0.6 m @ 29.64 g/t Au from 394.7 m to 395.3 m.
• This represents the highest-grade intercept ever drilled across the Rowan Property.
• The location of the pierce point on Vein 101 represents one of the deeper intercepts drilled within the high-grade East Zone which could be indicating that the vein system is increasing in grade and thickness with depth.
• The exploration team is immediately following up on this success to further define this extremely high-grade and thick portion of gold mineralization within the already impressive East Zone at Rowan.

Figure 1. Impressive visible gold showing within intercept grading 1,120.19 g/t Au. Diamond drill core in this photo is NQ diameter (47.6 millimeters).

Shane Williams, President & CEO, stated, “There are very few places in the world where the geologic conditions exist to produce an intercept of this calibre, and the Red Lake district has demonstrated time and again that it is most definitely one of them. Our exploration team has already been immensely successful with the drilling program at the Rowan Mine target in 2023, and the spectacular drill results highlighted in this news release only emphasize the upside that still exists at Rowan. Our team is confident that we are only just starting to scratch the surface at Rowan with many more exciting discoveries to come.”

The high-grade mineralized vein zones encountered at the Rowan Mine target area (the “Rowan Mine Target”) continue to exceed expectations, confirm the geologic model, and further improve the existing high-grade (9.2 g/t Au) 827,462 ounce Inferred Mineral Resource at the Rowan Mine. Plan map and sections for the Rowan Mine drilling outlined in this release are provided in Figures 2 through 4.

TABLE 1. Significant intercepts (>4 g/t Au) from RLG-23-163B at the Rowan Mine Target.

*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core.

A total of 17,000 m of infill and expansion drilling was originally proposed for the Rowan Mine target in 2023. Based on the positive results received to date, the program has been expanded to 25,000 m and is expected to be completed by year end 2023. The additional drill meters will be used to continue de-risking the Rowan Mine resource, and test the growth potential down-plunge on the highest-grade portions of the resource. Current drilling at Rowan has only tested mineralization down to a depth of approximately 550 m. All of the high-grade zones still remain open below this vertical depth. The Red Lake Mining District is known to host orebodies that extend down to +4 kilometre (“km”) depth, which bodes well for the down-plunge growth potential at Rowan.

It is the Company’s belief that potential synergies could exist between high-grade resources at the Rowan Mine target area and Madsen. The Company has initiated a metallurgical study at Rowan to begin evaluating this potential opportunity, as well as a geotechnical study to better characterize the rock mass properties within the mineralized vein zones at Rowan.

In conjunction with infill and expansion drilling, the Company is also initiating the necessary baseline environmental and archaeological assessments to begin moving the project towards an Advanced Exploration Permit status.

FIGURE 2. Deposit-scale plan map of Rowan Mine Target area showing traces and intercepts for holes highlighted in this News Release.

TABLE 2: Drill collar summary for hole reported in this News Release.

DISCUSSION

The Rowan Mine Target consists of more than seven sub-parallel, near-vertical, east-west trending veins that are currently defined over a strike length of approximately 1.1 km– mineralization remains open along strike and at depth. The orientation of the veins at the Rowan Mine tend to follow the direction of D2 deformation, which is oriented in an east-west direction over this part of the property. Individual mineralized veins usually average 1.0 to 1.5 m in thickness, with an overall thickness of the Rowan vein corridor at around 115 m. Gold mineralization is typically localized within quartz-carbonate veins hosted within and along the ‘footwall’ margin of a porphyritic felsic intrusive, with increased grades often associated with the presence of visible gold and base metal sulphides (e.g. galena, sphalerite). High-grade dilation zones or ‘ore chutes’ along the Rowan vein trend have been recognized as important controls for localizing thicker and higher-grade zones of gold mineralization. The position and geometry of these dilation zones is well understood at Rowan.

The drilling completed at the Rowan Mine Target in 2023 has been focused on validating historical data across the Inferred Resource, and also infilling apparent gaps in the analytical data set which was a product of very selective sampling techniques implemented during previous drilling campaigns. Assay results received from the 2023 drilling program continue to confirm our thesis that quartz veining and gold mineralization continue at depth and along strike, with grades consistent with, or higher than those outlined in the current Inferred Mineral Resource which remains open in all directions. For example, the 100 Vein Zone – which is the furthest north vein currently modeled within the overall Rowan vein corridor – was previously interpreted to be a lower grade portion of the block model. Recent drilling has confirmed that higher grades are present within the 100 Vein Zone below 150 m elevation, suggesting that gold grades are increasing at depth within this zone which is a trend that has been observed elsewhere in the Red Lake district. Drilling at the Rowan Mine Target area will continue with an emphasis on infill and expansion of the existing high-grade mineral resource.

FIGURE 3. Rowan Mine drill section showing assay highlights for Hole RLG-23-163B^[1].

FIGURE 4. Rowan Mine longitudinal section for Vein 101 showing 2023 intercepts > 4 g/t Au. Assay highlights from current press release shown in red^[1].

High resolution versions of all the figures contained in this press release can be found at the following web address: https://westredlakegold.com/september-12th-news-release-maps/.

Longitudinal sections showing all intercepts > 3 g/t Au on Veins 101, 102 and 103 can be viewed here: https://westredlakegold.com/august-1st-news-release-maps/.

QUALITY ASSURANCE/QUALITY CONTROL

Drilling completed at the Rowan Property consists of oriented NQ-sized diamond drill core. All drill holes are systematically logged, photographed, and sampled by a trained geologist at WRLG’s Mt. Jamie core processing facility. Minimum allowable sample length is 0.5 m. Maximum allowable sample length is 1.5 m. Standard reference materials and blanks are inserted at a targeted 5% insertion rate. The drill core is then cut lengthwise utilizing a diamond blade core saw along a line pre-selected by the geologist. To reduce sampling bias, the same side of drill core is sampled consistently utilizing the orientation line as reference. For those samples containing visible gold (“VG”), a trained geologist supervises the cutting/bagging of those samples, and ensures the core saw blade is ‘cleaned’ with a dressing stone following the VG sample interval. Bagged samples are then sealed with zip ties and transported by WRLG personnel directly to SGS Natural Resource’s Facility in Red Lake, Ontario for assay.

Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2 mm. A riffle splitter is then utilized to produce a 500 g course reject for archive. The remainder of the sample is then pulverized to 85% passing 75 microns from which 50 g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish. Samples returning gold values > 5 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50 g sample. Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multi-element analysis, samples are sent to SGS’s facility in Burnaby, British Columbia and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25 g sample pulps (SGS code: GE_ICP40Q12). SGS Natural Resources analytical laboratories operates under a Quality Management System that complies with ISO/IEC 17025.

West Red Lake Gold’s Rowan Property presently hosts a National Instrument 43-101 (“NI 43-101”) Inferred Mineral Resource of 2,790,700 t at an average grade of 9.2 g/t Au containing 827,462 ounces of gold with a cut-off grade of 3.8 g/t Au (NI 43-101 Technical Report authored by John Kita, P.Eng., dated December 13, 2022 and filed December 30, 2022 on www.sedar.com). The Inferred Mineral Resource is located in the area of the historic underground Rowan Mine site and situated within a 1.8 km strike length portion of the regional scale Pipestone Bay St Paul Deformation Zone.

The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.

ABOUT WEST RED LAKE GOLD MINES

West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km² including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.

“Shane Williams”

Shane Williams        
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: investors@westredlakegold.com or visit the Company’s website at https://www.westredlakegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

__________________

¹ Mineral Resources are estimated at a cut-off grade of 9.2 g/t Au and using a gold price of US$1,600/oz. Please refer to the technical report entitled “Technical Report and Resource Estimate on the West Red Lake Project” dated December 13, 2022 prepared for WRLG by John Kita, P.Eng., and filed December 30, 2022 on www.sedar.com.

Photo accompanying this announcement are available at:

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to provide an update on the Company’s ongoing drill program at the Selena Project, Nevada (Figure 1). Selena is host to a silver (“Ag”) – gold (“Au”) – lead (“Pb”) – zinc (“Zn”) carbonate replacement (“CRD”) style discovery located in White Pine County, Nevada. The objective of the 3,000-meter (“m”) core program is to both infill the high-grade upper Chinchilla Zone (see July 24, 2023 press release HERE), as well as to test beneath the Chinchilla Zone for stacked sulfide horizons at depth (Figure 2). A summary of drilling progress is highlighted below.

Drill Program Summary

• Drill hole SE23-046 was lost due to difficult drilling conditions at 126.8 m downhole with the bottom 7.3 m of the hole intersecting strongly brecciated and oxidized mineralization consistent with the top of the Chinchilla Zone (Figure 2).
  • Assays of the truncated upper zone returned 7.3 m grading 64.2 grams per tonne (“g/t”) Ag, 0.8% Pb, 2.9% Zn and 0.1 g/t Au (Figure 3) or;
  • 7.3 m grading 221.20 g/t silver equivalent (“AgEq”)

(Assumed metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1800 Au, no recovery factory applied).

• Drill hole SE23-047 re-drilled SE22-046 to a depth of 200.1 m and intersected the same upper Chinchilla oxide horizon over a 50 m + thick intercept (assays pending) (Figure 2 & Figure 3).
  • The thickness of the altered and mineralized zone in SE23-047 is consistent with nearby reverse circulation drilling in holes SE21-013 and SE21-14.

• Drill hole SE23-048 is in progress and will be drilled to depths of 400-500m to test for deeper sulfide horizons within the historically untested lower Guilmette limestone (Figure 3)
• The core program is tracking on-budget but running behind the originally proposed schedule due to mechanical delays associated with the drill rig, which have now been resolved.

Mike Harp, Ridgeline’s Vice President, Exploration commented, “We continue to be impressed by the continuity of mineralization at the Chinchilla Zone with hole 47 intersecting a thick, continuous zone of oxide mineralization that is visually consistent with nearby RC drillholes drilling during our 2021 program. We eagerly await assays from this shallower portion of the Chinchilla zone, which exhibits higher gold grades and exceptional continuity with mineralization currently open both up and down-dip.”

Mr. Harp continues, “Although drilling progress has been delayed by mechanical issues early in the program, we are now seeing consistent drill production as we test the bottom half of the highly prospective and historically untested lower Guilmette limestone. We have at least four more holes to complete with results to be released as they are received throughout the remainder of the program.”

Figure 1: Location of the 100% owned (39km²) Selena project adjacent to the Falcon Butte and Freeport-McMoRan Butte Valley joint venture to the west and NevGold’s Limousine Butte project to the north

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_002full.jpg

Figure 2: Plan view map showing silver equivalent grade-thickness contours of all Chinchilla zone drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_003full.jpg

Figure 3: Long Section C-C’ showing core holes SE23-046 to SE23-048 drilling the eastern edge of the Chinchilla Zone, which exhibits higher Au grades near surface. Three proposed drillholes will be drilled beneath and adjacent to SE22-045 to test for stacked CRD mineralization at depth

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_004full.jpg

Selena Project

Selena is located in White Pine County, Nevada, approximately 64 kilometers (“km”) north of the town of Ely, NV. The Project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline’s shallow-oxide 2020 Ag-Au ± Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)

QAQC Procedures

Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company’s Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company’s Vice President, Exploration, who is Ridgeline’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 204 km² exploration portfolio across five projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
“Chad Peters”
President & CEO

Further Information:
Chad Peters, P.Geo.
President, CEO & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note regarding Forward Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words “potential”, “anticipate”, “meaningful”, “discovery”, “forecast”, “believe”, “estimate”, “expect”, “may”, “will”, “project”, “plan”, “historical”, “historic” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline’s public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180328

VANCOUVER, BC / ACCESSWIRE / September 11, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC:BWCGF) is pleased to announce that, further to its news release dated September 1, 2023, the Supreme Court of British Columbia has granted a final order approving the Company’s previously announced acquisition of Optimum Ventures Ltd. (“Optimum“) (the “Transaction“). For details regarding the Transaction see the Company’s June 20 and July 7, 2023 news releases.

The Transaction is expected to close on or about September 12, 2023, subject to the Company obtaining final acceptance by the TSX Venture Exchange (the “TSXV“) and other customary conditions. Optimum is expected to be delisted from the TSXV once the Transaction has closed.

About Blackwolf Copper and Gold Ltd.

Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five Hyder Area gold-silver and VMS properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the high-priority wide gold-silver veins at the Cantoo Property. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.

On behalf of the Board of Directors of Blackwolf Copper and Gold Ltd.

“Morgan Lekstrom”

CEO and Director

For more information, contact:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the timing of closing the Transaction and Optimum shares being delisted from the TSXV. These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, receipt of final acceptance by the TSXV of the Transaction and changes in the Company’s business plans. In making the forward-looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that required the final acceptance from the TSXV will be obtained, the Transaction will proceed and be completed as planned and the Company will continue with its stated business objectives. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca

SOURCE: Blackwolf Copper and Gold Ltd.

View source version on accesswire.com:
https://www.accesswire.com/782642/blackwolf-announces-court-approval-of-acquisition-of-optimum-ventures-ltd

Vancouver, British Columbia–(Newsfile Corp. – September 11, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), Riverside is pleased to announce that it has signed an option agreement with private owners to acquire 100% in several mineral concessions in the Boundary District of Southern British Columbia in an area that is traced northward as the geologic and structural extension of the Republic and Toroda grabens which are well-endowed gold districts to the immediate south in northernmost Washington State across the USA border. The Republic District has produced over 3M ounces in gold over the past several decades and is a well-established gold camp; however, the Canadian side has not seen much epithermal gold development and Riverside, over the current summer 2023, has made a number of mineralization finds and acquired key tenures as the start of a new gold program in southern BC.

The Company has staked the prospective geology to include over 107 kilometers square that includes key locations of known gold occurrences and now significantly expanding and finding new showings of mineralization through the field programs. This prospective geology in southern BC extends northward from the historic Kinross Gold’s Knob Hill (~4M Oz Au Produced)^1,2 and Buckhorn Gold (~1.3M Oz Au)^1,2 mines in Washington State. The Riverside tenure in British Columbia is prospective for low sulfidation epithermal style gold-silver mineralization. Riverside’s work includes building upon previous generative work including BC Government databases, fieldwork, and Geoscience BC research data bases to create a structural interpretation of the district and has led to the discovery of several prospective vein targets inside the tenures controlled by Riverside.

Property Description and Program Actions:

The Elly Project is a series of mineral tenures that Riverside Resources (BC) Inc. staked and includes some core claims optioned from private owners that the Company sees have gold potential within a region that hosts historic gold and base metal producers and many mineral prospects. The Elly Project is within the Christian and Granby valleys of Grand Forks and Greenwood, BC. The project has excellent road access through major highways and secondary highways and a network of logging roads. Recent logging has exposed many new areas for mineral exploration and opened up access in the area.

Elly program for Riverside is an example of the generative mineral exploration approach: working with historic data and following up with stream sediment sampling, rock sampling, and active prospecting to expand our understanding of the known mineral locations. The field program during 2023 has located the Bunch Grass Target as one of several priority zones as work continues into the autumn as assays continue to come in.

Figure 1: Blue graben faults trending northward into southernmost BC with the Franklin and Greenwood Camps being key locations for the Elly Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/180196_b365ad54f44adb05_002full.jpg

Modified from https://adamera.com/projects/overview/.

The Republic and Toroda Grabens comprise structural features that bound Paleogene-age alkalic volcanics (Sanpoil Volcanics) and siliciclastic (O’Brien Creek Formation, Klondike Mountain Formation) rocks. Gravity and structural trends suggest that the Republic and Toroda Grabens and other analogous extensional basins extend northward into Canada. Sedimentary and volcanic fill in the Republic Graben exceeds 3000 m and gold and silver, with lesser Pb, Zn, Te mineralization occurs in various levels of the Paleogene units.

Figure 2: Simplified diagram showing extensional tectonic environment in a Horst-Graben terrain and the gold mineralization at Elly is along the Normal fault structures as the primary control for the Eocene epithermal gold in the Republic Graben and its extension northward from northernmost Washington State, USA up into the Grand Forks region of British Columbia.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/180196_b365ad54f44adb05_003full.jpg

At Elly as in the Republic Gold Mining District to the south the graben faults are a major structural control where Paleogene-age gold mineralization is deposited adjacent to the more favorable reactive host rock stratigraphy in the paleo-near surface environment. At Elly, the Company has begun to integrate the structural geology and reconstruction of the basins for targeting.

Riverside has completed a first phase of generative exploration starting with stream sediment sampling prospecting and rock sampling. These samples have been shipped to ALS Laboratories in North Vancouver and the company awaits the results.

The Company signed a Letter Agreement (LA) wherein the Company may acquire up to 100% interest in the Elly-Anika and Chilco projects located in British Columbia, Canada. Under the LA, the Company is granted a sole and exclusive right and option to acquire up to 100% interest in the said property by making the following cash payments and incurring the following exploration expenditures as follows:

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

1. Kinross Annual Report, 2012. 2. https://adamera.com/projects/overview/

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $7M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180196

Edmonton, Alberta–(Newsfile Corp. – September 7, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that after the Okanogan fire danger has subsided that geological crews are back at the Rock Creek camp and have re-commenced work at Midway, Copper Mountain and the Imperial target areas within the Greenwood Precious and Battery Metals Project. The Company is also pleased to announce that a large block of lands held in perpetuity for more than 30+ years by a competitor in the core of the Greenwood Project area surrounding and adjacent to the Phoenix Mine lapsed on July 31, 2023. Grizzly was able to acquire by staking close to 90 percent of the land that came open for a total of 6,478 acres highlighted in blue east of Greenwood in Figure 1.

Figure 1: New Mineral Claims Acquired August 1, 2023.

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Geological and prospecting crews have re-commenced prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and will do an initial pass at the new mineral claim area, but will be focused on the Midway, Imperial, Copper Mountain and Sappho areas as we await drilling permits from the BC Ministry of Energy Mines and Petroleum Resources. The intent is to prepare these target areas for drilling this fall. The Company is awaiting land use permits for conducting drilling and trenching at the Midway Mine area as well as drilling at Copper Mountain, Imperial and potentially the Sappho target areas (Figure 2).

Figure 2: Exploration Targets 2023.

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A number of existing showings and parts or extensions to known showings have been acquired with the staking of new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine.

The geological and prospecting crew has made several discoveries of sulphide, quartz vein zones and skarn on the new claims (Figure 3). Sulphide showings associated with skarn at Marshall Lake (Figure 1) are hosted in Triassic Brooklyn Formation sedimentary rocks including limestone that has been intruded by diorite. The showings have been trenched and bulk sampled in the past (1960’s to 1970’s) yielding significant copper, silver and gold. Little to no modern exploration has been performed at the Marshall Lake target as well as a number of other showings in the Brooklyn sequence such as the Great Laxey.

To date, more than 1,500 soil samples and 300 rock samples have been collected from the Midway, Copper Mountain, Imperial and Sappho target areas and have been submitted to ALS Global Laboratories (ALS) as well as an initial set of samples from the new mineral claims. Ground geophysical surveys will be performed where needed in September in order to be ready for the 2023 drilling campaign.

The goal is to have a pipeline of high priority precious metal and battery metal targets that are all permitted and ready for a long 2023 and 2024 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood – Republic region.

Brian Testo, President and CEO of Grizzly Discoveries, stated, “The staking of this large land block marks a very important milestone for Grizzly. We have coveted these lands for many years and this block of claims checks all of the boxes for us. Grizzly has been very selective when it comes to staking new ground and are excited to add this to our already outstanding land package in the prolific Greenwood mining district. These claims fit perfectly with Grizzly’s existing land package and offer a significant number of top-tier undeveloped drill targets.”

Figure 3. Oxidized dump material at Marshall Lake (Left) and sulphide mineralization associated with skarn at the Great Laxey showing (Right).

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2023 Exploration Update for Greenwood

• Additional drilling is warranted in 2023 at both the Dayton and Motherlode North target areas in order to follow-up the anomalous results of the 2022 drilling program. In addition, there other targets at Motherlode North in the vicinity of the Motherlode Pit, the Greyhound Pit and the Great Hopes crown grant that have yet be drill tested.
• Drilling and trenching permit applications have been submitted for the 2023 season for the Midway, Sappho, Copper Mountain and Imperial target areas.
• Additional permit applications for drilling at the Crown Point and the Overlander-Mt Attwood areas are in preparation and will be submitted in the near future.
• The Midway area is being targeted for copper-gold skarn and epithermal gold-silver.
• At Midway, selective rock grab and composite rock grab samples from outcrop collected from the Midway Mine-Picturestone area, with 4 of 7 rock grab samples from outcropping mineralization in the Midway Mine historical pit yielded a range of 12.05 g/t (or 0.351 ounces per ton [oz/t]) Au up to 70.8 g/t (2.065 oz/t) Au (See Company news release dated October17, 2022).
• Three (3) of the 7 selective rock grab samples from the Midway Mine pits yielded from 1,360 g/t Ag (39.7 oz/t Ag) up to 2,140 g/T Ag (62.4 oz/t Ag) (see the Company news release dated October 17, 2022).
• All highly anomalous samples are from outcrop and characterized by the presence of abundant pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that display the presence of Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature.
• A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 oz/t Au) and 1,530 g/T Ag (44.6 oz/t Ag), illustrating that there is potential for additional high-grade mineralization in the area.
• The Sappho area is being targeted for copper-gold-PGEs skarn and porphyry type targets associated with an alkalic intrusion and several diorite intrusions south of Greenwood near the US border.
• At least five new showings of copper oxide/sulphide mineralization were found during the 2022 program at the Sappho Target.
• Previous surface sampling and drilling by Grizzly at the Sappho area has yielded significant anomalous copper, gold, silver along with platinum and palladium.
• Numerous rock grab samples have yielded greater than 1% copper, 1 g/t gold, 1 g/t platinum and 1 g/t palladium. The sampling work in 2022 yielded 17 rock grab samples with >1% Cu up to 9.06% Cu. (see Company news release dated November 3, 2022).
• Historical drilling (by the Company) has yielded up to 0.31% Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho in 2010.

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 66,000 ha (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179894