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Base Metals Energy Exclusive Interviews Precious Metals Project Generators Riverside Resources

RIVERSIDE RESOURCES – 2 Ounces of Gold, La Union

Vancouver, British Columbia–(Newsfile Corp. – October 6, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to report the mineral tenure consolidation and expansion of La Union Polymetallic Project in Sonora, Mexico. The acquisition of these additional concessions provides Riverside with an expanded land position and further control of the historical mines and old workings across the district. This consolidation through the acquisition of small internal concessions provides Riverside an option on the high-grade, previous small scale mine properties, internal to the larger surrounding 100% Riverside owned mineral concessions and increases the property total area to over 26 km2 (2,604 hectares). This transaction expands upon the original property acquired from Millrock’s Mexico portfolio in 2019 (see press release of June 26, 2019).

La Union is located in western Sonora and is part of the orogenic gold trend. The old mining areas at La Union have seen very little drill testing and the broader structures are wide open for further regional exploration. Riverside is in contact with the local surface owners and knows the region from previous work with partner Hochschild Mining which allows Riverside to initiate exploration immediately.

Riverside’s initial field work included selective rock sampling from abandoned mine workings and dumps with results returning up to 59.4 g/t Au and 833 g/t Ag (see Table 1). Further exploration work will begin shortly as the Company is pleased to have completed this expansion step, opening the door to follow up work.https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.html

La Union Polymetallic Project has been previously defined as a manto-chimney style deposit. The ongoing work has been demonstrating significantly high-grades in gold, silver, lead and zinc across mineralized areas identified. Near surface, the oxide gossan cap and carbonate replacement are particularly extensive with strong similarities with the Leadville polymetallic system in Colorado, USA. At La Union the Paleozoic carbonate stratigraphic section is a composite of over 1,000 m thick regionally and the mineralization of chimneys and mantos is open in multiple directions.

Table 1: Sample Results from La Union Polymetallic Project

Sample IDAu (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)TypeDescription
RRI789159.48335.764.160.3rock chipmassive sulfide – dolomitic breccia
RRI7895403.30.13mine dumpmassive sulfide and jasperoid
RRI78948.32390.17mine dumpjasperoid
RRI78901.367501.631.43mine dumpsulfide-oxide bearing breccia
RRI78930.47312.4rock chipbrecciated contact – dolomite/quartzite
RRI78890.07276.4rock chipbrecciated contact – dolomite/limestone


Note: Six of the higher-grade due diligence samples out of eight total are shown in Table 1.



Figure 1: Photo of sample RRI7891 from La Famosa Mine and RRI7895 from Plomito Mine

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/98673_78761357c45a0b0c_003full.jpg


Figure 2: Map of Riverside’s La Union Polymetallic Project, Sonora, Mexico. Highlights of the most recent results from rock sampling from Riverside (see Table 1)

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/98673_78761357c45a0b0c_004full.jpg

Riverside’s President and CEO, John-Mark Staude: “We are excited to complete the acquisition of multiple key pieces of the project area at La Union, including the historic mines of Famosa and Plomito. Riverside is moving forward with growing projects, and generating exploration results at our properties, which continue to demonstrate the value of applying the Riverside property database and local team knowledge to capture and progress excellent mineral projects. The next steps for the La Union district will consist of field work and geophysics, which are expected to refine drilling targets.”

Transaction Details for the Acquisition:
Riverside has optioned over a 4-year term the properties with staged cash payments without any retained NSR. The terms for each respective property (La Famosa and Plomito) are presented below:

YEARPAYMENTSLA FAMOSAPLOMITO
0On Signing$$
112 months$10,000.00$10,000.00
224 months$15,000.00$15,000.00
336 months$25,000.00$25,000.00
448 months$50,000.00$40,000.00
560 months$75,000.00$75,000.00
TOTAL$175,000.00$165,000.00

Geology and previous work at La Union Polymetallic Project:
Mineralization is primarily located within the Paleozoic sedimentary sequence, known in this area for reaching up to 1,000 m in thickness and hosting multiple historical workings. The mountain range is characterized with alternating limestone, dolomite and quartzite, at which contact mineralization has been observed to grow into a manto-chimney style deposit. These types of deposits tend to have higher metal grades, making this style of deposition attractive for exploration.

Local historical productions in the 1950’s mined high-grades averaging 7-20 g/t Au, 300 g/t Ag, 10-20% Pb and 5% Zn, for which mineralized bodies were traced for at least 80 m depth within oxides (Yantis, 1957). Since then, only small exploration programs followed and including Paget Mineral Exploration Company and Millrock with sampling programs yielding up to 22.5 g/t Au and multiple high-grade polymetallic samples over the project area. The presence of many high-grade areas, the thickness of the host rock and extent of the system across multiple known historic mines are favorable evidence for an extensive system.



Figure 3: Map representing historical samples including rock chip, and mine dump as stated above and part of the Millrock and Paget database acquired from 2012 to 2019

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6101/98673_78761357c45a0b0c_005full.jpg



Figure 4: Photo (left) of the mineralization as seen at La Union, showing quartzite bed bounded by oxide horizons. La Famosa (right) shows the old working from 1980s

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6101/98673_78761357c45a0b0c_006full.jpg

Geophysics and sampling will be additional tools deployed by Riverside in advancing the knowledge of this project, with a view to initiating a drill program that will allow the Project to extend high-grade at depth and define the limit of the oxide cap.

Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to La Union Project 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Rock samples from the exploration program discussed above at La Union were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and approximately 71M shares outstanding with a strong portfolio of gold-silver and copper assets 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 additional properties available for option, with more 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671 x312
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/98673https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.htmlhttps://jac.yahoosandbox.com/0.7.0/safeframe.html

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Base Metals Capitalism Morality Energy Junior Mining Project Generators Riverside Resources

Beyond the Official Narrative

Riverside Resources

My western friends would leave me if I were openly crooked. There are no such consequences in India. “Friends” in India would respect you for your crookedness if you can get away with it. And there is no social opprobrium. No wonder crookedness grows like a weed in India. Here is a conversation with Richard Kary:

On Investments

In the past, I have followed and written about Riverside Resources (RRI; C$0.135) and its CEO, John-Mark Staude. RRI is a project generation company and a very innovative one. They have several projects in Mexico, the USA, and Canada. They have C$5 million in cash and equities, making their enterprise value C$5 million, rather low for a company that has an interesting agreement with BHP, which will fund US$6.5 million in drilling two projects and generative work over the next year. RRI gets to charge a 10% fee on the expenses made, which enables it to sometimes reduce its corporate cash burn to zero. While BHP funds the projects, RRI gets to keep at least 20% ownership—100% if BHP decides not to pursue any project.

A major investor recently liquidated his position in RRI, the reason why it has fallen a lot. That is my opportunity to add to my position.

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

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Base Metals Energy Junior Mining Project Generators Riverside Resources

Riverside Resources Delineates 3 Projects Within the High Lake Greenstone Belt in Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – August 19, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to provide an update on the work program progressing at the High Lake Greenstone Belt in Northwestern Ontario. The company has successfully delineated three (3) projects which are expected to move ahead with more detailed exploration.

Last year Riverside staked a commanding land position of 230 square kilometers within the High Lake-Shoal Lake Greenstone Belt, containing at least two gold mineralization systems with Riverside controlling the structural geologic and intrusion boundary projections of some exploration projects historically defined. This gold-bearing belt is located immediately east of the Ontario-Manitoba border and has good highway infrastructure and extensive favorable age and types of geology. The region hosts multiple discoveries, such as the Shoal Lake deposit which contains over 347,000 ounces of gold (Inferred and Indicated; 2010, NI 43-101[1] of the KPM total). Riverside’s interest in this belt has been triggered by the positive geological settings and extensive occurrences of mineralization found in the area. Recent and past production in Northwestern Ontario includes mines in the Red Lake, Rainy River and Hemlo gold districts, which collectively total over 130Moz gold. All of these active areas are located in similar greenstone belts in western Ontario. New mines and the resurgence of operations in these three gold camps is part of an overall renaissance for new development and integration of the past knowledge with new interpretations and work in this favorable mining Canadian province.

Riverside’s 3 projects in the High Lake – Shoal Lake Greenstone Belt:

  • Electrum Project: 1,800 hectares
  • Royal Project: 6,150 hectares
  • Canoe Project: 4,260 hectares



Figure 1: Riverside’s claim block within the High Lake – Shoal Lake greenstone belt. Highlights of the three defined projects.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_002full.jpg

Riverside’s President and CEO, John-Mark Staude: “In addition to our active exploration group in Mexico, Riverside is moving forward in Canada not only with the recent deal with iMetal Resources but also with new High Lake Greenstone portfolio of projects that present strong potential for new gold discoveries. Ontario’s greenstone belts have been producing world-class size gold resources and continue to deliver new discoveries like in Red Lake with the Great Bear and Pure Gold companies among a host of others. We are glad to be part of this momentum in northwestern Ontario and to be able to bring three additional 100%-Riverside owned projects with strong discovery potential into our portfolio.

Electrum Project:

This project has many documented occurrences of gold, copper, and silver at surface, primarily structurally related and hosted within granitoids and at contact with meta-volcanics similar to features in the Manitoba and western Ontario orogenic gold greenstone gold camps. Riverside’s mineral tenure has been previously explored with 4 core drill holes, including an intercept of 0.9 m of 8.99 g/t Au (Internal technical reporting, 2005). Historical soil and rock sampling have reported anomalous grade in gold, copper, molybdenum and silver all of which can be used for vectoring of mineralization and on which Riverside is putting more to. The mineralization on Riverside’s 100% owned property is adjacent and follows the same structures and lithology of the drilled mineralization body found adjacent on the internal concession known as the High Lake Property not on Riverside’s concessions (see Figure 2 below), bringing interest on testing the high-grade targets and system for finding new discoveries associated with this area.



Figure 2: Map Area of Riverside’s Electrum project, showing geology and historical findings across the properties and the adjacent non-compliant Au resource.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_003full.jpg

Royal Project:

Historical exploration of the Royal Project has defined many base metals occurrences with characteristics suggestive of volcanogenic massive sulfide (VMS) mineralization. This project, which lies to the east of the Electrum Project shows variation in geology, including alternating meta-volcanics and meta-sedimentary units folded along a primary E-W axis. Historical data highlights anomalies in base metals and VMS style mineralization at surface and some geophysics surveys by different companies and particularly by Noranda Exploration Company Ltd (1990), which highlighted several strong conductors that have yet to be drill tested. This style of environment has proven favorable in many deposits in Ontario, including the Rainy River Gold deposit located approximately 100 km to the south of the Project.



Figure 3: Focused map for Riverside’s Royal project, showing geology and historical findings across the properties with geological features similar to that of the Rainy River mining area.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_004full.jpg

Canoe Project:

The Canoe project is located along the edge of the main pluton bounding the known Shoal Lake gold deposit to the north which host over 347,000 ounces of gold. The area shows noted anomalies at surface and in drill holes of Cu-Zn-Au especially at the contact between the pluton and the meta-volcanics. As with the other two projects, the Canoe project is located along a key structural feature which is oriented NE and merging into EW to the north of the property. Historical work includes drill holes by Teeshin Resources Ltd., (1988), trenching, surface sampling and EM geophysics. Presence of gold to the southwest of the property is particularly abundant and can be traced into Riverside’s property (see Figure 4 below).



Figure 4: Geologic map of Riverside’s Canoe project, showing geology and historical findings across the properties. This is a portion of the full High Lake Greenstone Area controlled by Riverside Resources.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_005full.jpg

Moving forward, Riverside will be focusing attention on these three projects that all display excellent locations and have the potential to host the geological and structural settings favourable for future discoveries. Field work to date has been positive and the accessibility, favorable geology and presence of large-scale structures makes the High Lake Greenstone Area a key new opportunity for the Company.

Qualified Person & QA/QC:

The scientific and technical data contained in 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 this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

All data represented here from historical reporting, including but not limited to, drill results and resource estimates are historical in nature and require caution readers as the vintage work.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 72M 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.

[1] Publication – Technical Report on the Shoal Lake West Project, Northwestern Ontario, Canada Publication Number: 2008 43-101Date: 2008 Author: Valliant, W.W. and Chamois, P., Publisher Name: Scott Wilson Mining for Hays Lake Gold Inc., Reference Location: SEDAR

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93680

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Base Metals Junior Mining Precious Metals Project Generators Riverside Resources Uncategorized

Riverside Resources Drills New Gold Vein System Developing an Updated Exploration Model at the Cuarentas Project in Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – July 29, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to present the new exploration model for the Cuarentas Project in Sonora, Mexico. This new model results from the compilation of the updated geochemistry processing from an external expert geochemist consultant, combined with the new proof of concept drill results from hole LC20-010. This is the first drill hole testing the Santa Rosalia Sur target by Riverside.

Highlights from the hole LC20-010 discovering a new drilled vein system:

  • 3.15 m at 0.36 g/t Au including 0.7 m at 0.88 g/t Au
  • 1.55 m at 0.58 g/t Au including 0.65 m at 1.05 g/t Au

Riverside’s President and CEO, John-Mark Staude: “We are excited to receive the new and first ever drill assay results from the Santa Rosalia Sur target area which begins to outline a strong drill target area at the Cuarentas Project. We are optimistic that with just one initial hole the campaign has encountered two vein areas wide open at strike and depth to continue seemingly above a degassing Laramide porphyry Cu-Au center.“https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

The Cuarentas epithermal vein drilled mineralized area intersected at surface and appears to be the upper part of a copper-gold porphyry system that is potentially responsible for the extensive >6 km2 area including sericite and pyrophyllite alteration. Some of the key features include:

  • A major NW oriented fault corridor, linked with a 2.5 km continuous strong (>0.3 g/t Au) gold anomaly along trend.
  • Detailed and regional mapping by Riverside defines post-mineral cover boundary which was previously interpreted as the limit of the system and is now clearly seen as younger cover with the system being significantly larger and only a fraction exposed at the surface. Channel rock-sampling highlighting up to 3.4m @ 9.1 g/t Au at the surface of the single drill hole demonstrates potential for more gold in further drilling of this Santa Rosalia Sur target.
  • Strong geophysical texture with airborne and ground magnetic features defines the continuity of main shear zones which control veins and then downward into a porphyry Cu-Au targeting at depth. Further drilling is warranted to test the magnetic features.
  • Extensive pyritic halo across the entire property with zones of white micas and pyrophyllite indicate higher temperature vectors toward an undrilled porphyry system.
  • Extensive database from work done by Paget, Millrock, Centerra, Hochschild and Riverside gives abundant data now compiled.
  • Historical production reporting more than ten old adits and up to 100,000 tonnes mined from the 1950s.
  • A total of 14 historical and recent drill holes, which are evidence for mineralization, alteration useful for vectoring and targeting for future work.

And recently:

  • Defined Intermediate Sulfidation system at Santa Rosalia Sur which is vectoring toward a potential feeder zone; Geochemistry analysis are showing zoning of higher ratios which compiled with mapping and drilling is leading to a potential feeder zone (see Figure 1 below).
  • Single drill hole at the Santa Rosalia Sur target by Riverside has intersected wide pyritic zones, similar to the upper parts of known porphyry systems and vein halos in this Arizpe Sonora District including like portions of Las Chispas Mine and also Mercedes Mine which are nearby neighbors to the east and west respectively. Drilling here at Santa Rosalia Sur cut a gold rich mineralized quartz vein zone beneath post-mineral cover (see Figure 3 below – core pictures). Geologically, this hole is important for interpretation and vectoring purposes.



Figure 1: Two maps of the Cuarentas Project highlighting above the geochemistry ratio distributing spatial (top map), and Interpretation for targeting next drill program (bottom map of same area as top map).

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_002full.jpg

To conclude, after taking into consideration, Riverside is highlighting the possibility of a feeder system of intermediate sulfidation along the Testerazo fault corridor. The latter is known to be involved as a deep-seated structure within the Arizpe district, and regionally associated with porphyry feeder further to the south. Distribution of evidence is showing an opportunity for more geophysics within the southern block, near the Sombrerito target, which then will lead to test drilling (see Figure 2 below).



Figure 2: Interpretative SW-NE Cross Section of the Cuarentas Project, indicating prospective target at depth for drill testing of feeder zone (based on current drill and surface data).

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_003full.jpg

Overall, the Cuarentas district is particularly prolific, with extensive alteration and can be seen at surface with extensive jarosite, limonite and pyrite non-oxidized in drill holes (see Figure 3 below). This pyritic halo extends for multiple km2. Zones of higher temperature clays are an important vector for the feeder zone, which are defined in Figure 1 above.



Figure 3: Core pictures of the hole LC20-010. Left picture: sheeted vein zone – and gold interval upper part of the core hole; Right picture: Example of pyritic halo intersected in drill hole.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6101/91539_7982025584517b94_004full.jpg

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Cuarentas Project 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Riverside completed a QA/QC program as part of the drilling program with about 10% of the samples assayed being control samples. Standards and blanks were inserted approximately every 20 samples and duplicates every 30 samples. Drill samples were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

Rock samples from the previous exploration programs discussed above at Cuarentas were taken to remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 72M 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.

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Base Metals Energy Junior Mining Precious Metals Project Generators Riverside Resources

Riverside to Receive US$5,400,000 in Additional Funding from BHP to Advance and Drill Copper Projects in Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to announce that an additional US$5,400,000 in exploration funding is being granted to advance four (4) previously generated copper projects as part of the expanding copper exploration program with BHP in Sonora, Mexico (see Figure 1 below). This new funding of at least US$5,400,000 is in addition to the US$1,300,000 allocated for the next generative phase of exploration work, which began two months ago on May 15th, 2021. Program funding highlights for the new project-focused funding are summarized below:

  • Drilling funding has been allocated for the Chuin Project, including an initial 4,500 metres (“m”) of drilling to test three geophysical centres within the Chinalito Target area.
  • Drilling funding budgeted for the Palofierro Project, including 4,500 m stratigraphic core drilling to cut bedrock beneath post-mineral cover and test for Laramide aged porphyry potential.
  • Geophysics funding designated for a close spaced MT (Magneto-telluric) Survey at Sinoquipe, designed to uncover conductive bodies (i.e., potential porphyry copper deposits) underneath post-mineral conglomerate cover.
  • Geophysics funding budgeted for a broadly spaced MT Survey and geophysical targeting at Peñitas which will lead toward drill targeting.

The permitting process for drilling at Chuin and Palofierro is already underway. The MT Survey’s at Sinoquipe and Peñitas are expected to commence after contractors are secured and the results from the deep geophysics work has the potential to lead to further drilling programs based on results.

Riverside’s President & CEO, John-Mark Staude : “We are pleased to work closely with BHP’s geoscientists and their exploration group as the porphyry copper targets we have identified continue to progress towards drilling. These projects and corresponding exploration campaigns expose our shareholders to incredible upside and catalysts that have the potential to create significant value for the Company. Riverside and BHP recently completed a weeklong technical field trip, which culminated with the approval by BHP of this additional US$5.4Million in exploration funding. In total, the additional budget allocation brings Riverside’s 2021 funding for copper exploration to over US$6.7M. We see excellent potential for continued growth in the well-endowed and under-explored southern extension of the Arizona-Sonora world class porphyry copper belt.

These four projects include the previously highlighted: Chuin, Palofierro, Sinoquipe, and Peñitas properties (see press release dated June 21, 2021). The projects have now been approved for full funding to move toward drilling on the Chuin and Palofierro projects and deep geophysics on the Sinoquipe and Peñitas projects which would lead toward additional drill decisions in the near future and will be ongoing for a third consecutive year (see press release dated May 27, 2021). Sinoquipe and Peñitas will be progressed with geophysical studies similar to those done at Chuin and Palofierro where BHP and Riverside are preparing targets for upcoming drill programs.



Figure 1: BHP Riverside Exploration area for copper and portfolio of projects owned by Riverside and BHP/Riverside Program

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/90274_50996a00340618d1_002full.jpg

Program Details:

  • Chuin Project: Funding of 4,500 m of core drilling to test the main Magneto-telluric (MT) anomalies discovered through last year’s funding. This first phase of drilling is focused on 3 geophysical centers identified at the Chinalito Target, which if successful could trigger an expanded drilling program as a Defined Project (“DP”) as outlined in the reference terms of the Exploration Funding Agreement (“EFA”). Environmental permitting for drilling is being progressed. Chinalito remains the priority copper target for Riverside.
  • Palofierro Project: Funding of 4,500 m of stratigraphic core drilling to probe bedrock beneath the post-mineral units and evaluate the basement geology for Laramide style porphyry Cu potential to the east of the Opodepe Mo-Cu porphyry district and west of exposed high sulfidation and upper-level porphyry copper geology where the Riverside-BHP target area is covered by post-Laramide gravel. This target area is defined by combining gravity survey results with geological mapping of the margins of the Rayon, Sonora Tertiary pediment, with the Company having found positive indicators for potential porphyry system at the margins of the basin and exploration data vectoring toward underneath the post-mineral cover. Environmental permitting for drilling is in progress.
  • Sinoquipe Project: Funding of an extensive and close-spaced MT survey which includes over 250 stations and is expected to start in late July 2021 pending weather and contractor availability. The interpreted target at Sinoquipe is a porphyry copper system projected under varying thickness of post-mineral conglomerate and possibly some Tertiary volcanics, where both margins of the basin show compiled geological evidence that indicates large potential for porphyry copper underneath the gravels. The purpose of this survey is to find conductive bodies that will potentially turn into drill targets in the coming months. This work builds on the 2021 field programs of sampling, mapping and targeting that remain on-going.
  • Peñitas: Funding of an open-spaced MT survey that comprises 150 stations to cover multiple target areas already identified with geological mapping and geochemical sampling. Similar to Sinoquipe, Peñitas has multiple targets that are projected under post-mineral cover and the aim of the survey is to detect large conductive bodies that would eventually generate geophysical drill targets.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the BHP Exploration Financing Agreement 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 72M 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.