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Base Metals Energy Junior Mining Precious Metals Project Generators Uncategorized

Riverside Hits Gold in 8 of 12 Holes at the Oakes Gold Project in the Geraldton Gold Belt, Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to report assay results for the remaining 7 drillholes of its twelve-hole, 1700-meter diamond drill program completed at the Oakes Gold Project (the “Project”) in northwestern Ontario, Canada. The primary focus of the first drill program at Oakes was to test the HG’ Target identified by geophysics and trenching programs for gold grades and continuity. The results came back favorable with hole 22-11 returning 5 intervals of gold over a total interval of 55 meters and hole 22-06 returning 4m @ 1.7 g/t Au. The Induced Polarization (IP) work conducted by Riverside in the summer of 2021 showed the HG IP Target extended westward beyond the area of trenching and sampling. Drilling this year has now confirmed the gold continuity of over 1.2 kilometer strike, hitting the mineralized structure and further open in both east and west. The drill results announced here fit with the orogenic gold model and further drilling can be progressed with confidence as all the holes of this program were shallow, with intercepts at less than 120m for most cases, while the system is wide open at depth.

This drill campaign has now successfully expanded the known gold mineralization well beyond the outcrops and laid the groundwork for the next drill campaign to continue expanding the Oakes gold camp. IP data provided strong conductivity and complimentary resistivity anomaly trending roughly east-west parallel to the geological units with greater confidence. The 7 holes announced here intercepted favorable geology of metavolcanics, “greenstone”, consistent with the geology noted in the first five holes and further geological constraints. As this part of Oakes has never been drilled, the first drill program comprised of shallow holes with the intent of intercepting the target at 100 m vertical below surface. The mineralized zone on surface is known to pinch and swell and averages about 5 m in width. The best hole in the second batch of reporting was DDH-22-06 which returned 1.7 g/t over 4 m with one sample being almost 5 g/t gold. The best intercept in the program was 8.4 g/t over 1 m in Hole #2.

Table 1: Spring 2022 Drill Program Highlights at Oakes (holes 6-12)

Hole No.from (m)to (m)length (m)Au (g/t)
OAKES-22-06727641.7
including727314.9
OAKES-22-06858831.0
OAKES-22-079810020.9
OAKES-22-08910.51.50.4
OAKES-22-091818.50.51.0
OAKES-22-11222312.2
OAKES-22-1196.5981.51.0
OAKES-22-11113.51151.51.1
OAKES-22-11125.51271.52.3
OAKES-22-1115115210.9
OAKES-22-12106.51081.52.4
OAKES-22-1213013110.4


All samples comprised half-core, saw-cut samples with QA/QC described below and further at www.rivres.com. Samples are generally considered to be 90-95% to true width.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BDrill%253BTom%25C3%25A1%25C5%25A1_Hole%25C5%25A1%253BDrilling%253BCompany%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25220b3e363e-27c8-3807-828c-310b2cededf8%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Technical Interpretations & Observations

DDH-22-06 & 07 were designed to intercept the HG Zone beneath Trench 1 at about 100 m depth. The target zone comprises strongly foliated, fine grained, metavolcanic rocks showing strong silicified zones with narrow bleached sections. Alteration comprises abundant biotite and chlorite bands, the top of the unit shows quartz veining with semi-massive pyrite-pyrrhotite and trace chalcopyrite which generally described the mineralized environment at Oakes. Quartz carbonate veinlets and stringers are more frequent from 80 m to 110 m down the hole consistent with the drill target gold bearing area. The overall 25-30m mineralization halo and main zone which is near vertical, now demonstrates strong consistency and provides the Company confidence of a significant gold system at Oakes. DDH-22-08 hit a fault and could not reach the target. DDH-22-09 was the setback collared to drill the Brinklow IP anomaly south of HG Zone, while DDH-22-10 was collared on the Crib Road with the intent to test the IP anomaly associated with the metasediment/metavolcanic contact boundary mapped at this location. Holes 8, 9 and 10 were not intended to evaluate the HG target and were instead testing parallel features. Holes 6, 7, 11, 12 provide technical data specific to the HG trend and give positive results for further exploration at Oakes which lies 25 km east of the Hard Rock Mine currently being constructed by Greenstone Gold (Equinox Gold) with a Proven & Probable Reserves of 5.5Moz at 1.27 g/t Au.[1]


 
Figure 1: Collars and projected drill holes for 12 holes plotted on IP Chargeability Map
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/136913_da0d27ece44d68d1_002full.jpg

DDH-22-11 was targeting an IP conductivity anomaly associated with the HG Zone on trend with the mineralization defined on surface (and in drill core) at Hole 6 located 600 m to the east along what is believed to be the same structure. Assays returned gold results associated with veining throughout the hole and as high as 2.3 g/t gold. Hole 11 was collared in metasedimentary rocks and drilled northward into metavolcanic rocks. Bedding and the contact between the two units was measured at 50 degrees to the core axis whereas foliation and shearing is at about 45 degrees. Alteration comprises moderately to strong biotitic and weak to strong chlorite zones sometimes associated with carbonate zones. Quartz veining and silica content increases starting at 80 m downhole. Sulphides are associated with quartz veins and comprise 2-5% disseminated Pyrite-Pyrrhotite seen within local fracture fillings and stringers.


 
Figure 2: Interpreted North – South Cross Section DDH-22-11 demonstrating the progression from brittle down into brittle-ductiledeformation as the targeting model having found gold over 55m drill width zone in hole 11
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/136913_da0d27ece44d68d1_004bfull.jpg

DDH-22-12 was collared in gabbro and drilled north through metasedimentary rock into metavolcanics. Mineralization is noted within similar altered rock but only within shears in the mafic volcanics and does not appear to be associated with the contact zones. Sheared zones commonly a focus for gold mineralization in orogenic systems like this one are expressed as altered, fine-grained, metavolcanics with moderate to strong chlorite-biotite alteration with quartz-carbonate veins and stringers with 1-2% disseminated pyrite and pyrrhotite.

Conclusions

The HG Zone at Oakes has been proven to extend well beyond the strike extent defined by trenching and has now been drill proven to at least 1.1 km in length. To date the drilling has only tested the upper 100 m of the structure where mineralization appears associated with quartz veins that show visible gold within pyrite rich veins. The gold mineralization is associated with quartz and quartz-carbonate veins in shear zones within metavolcanic rocks often (near-vertical which can bode well for potential future mining and predicting the next round of drilling). Quartz veins that are subparallel to foliation appear to be the veins that carry gold and are cut by later quartz carbonate veins that do not have sulfides. The quartz veins are mostly associated with brittle type fracturing with lesser semi-ductile type, potentially indicating that drilling was approaching the upper brittle-ductile transition which can be highly favorable in large orogenic gold deposits. The nature of the fracturing suggests that the shallow drilling is primarily within the upper brittle deformation zone as shown in Figure 2. The fact that the gold veins can now be traced in drill holes more than 3x beyond the previous surface trenching expands the Oakes project potential greatly.

The Oakes property is located along the general metallogenic boundary of the Wabigoon and Quetico sub-provinces and this boundary is commonly a major fault breaks, and large gold resources are associated with these breaks generally in secondary shear zones in the Canadian shield geologic provinces. The Hemlo Gold Mine to the south is hosted in a brittle fracture environment and the Black Fox gold mine to the east in Matheson is hosted in a semi-ductile fracture system at depth and more brittle near the surface. Riverside sees the potential for brittle fracture zones progress into semi ductile and ductile zones at depth in general becoming wider and potentially richer as has commonly been found and further drilling is warranted.

Riverside’s President and CEO, John-Mark Staude: “Riverside has expanded the gold zone at Oakes along strike over 1 km and begun showing the continuity on surface and to depth, consistent with the goals for the 2022 drill program. Next steps will include more geophysics to map the structural features to trace the HG Zone and gold mineralization. We are very encouraged by these good results covered in this and the prior news release and are pleased to see how effective the geophysical surveys were at finding mineralization and predicting extensions. Moreover, we remain very cautiously optimistic to see our first program of shallow drilling demonstrate continuity of mineralization along strike and at depth. Riverside continues to pursue the Prospect Generator hybrid model, by providing shareholders with the upside for discovery on multiple projects, and with different partners, along with the current self-funded value adding project.”

Qualified Person & QA/QC:
As part of the quality control Riverside inserted blanks, duplicates and two different standards, into the sample stream prior to delivery at Activation Laboratories in Thunder Bay. Logged core was delivered from site to a core cutting facility in Thunder Bay by Riverside and trucked to Activation Laboratories from this facility typically in batches of 2 to 4 holes at a time. Multi-Element Analysis using Aqua Regia Extraction and (40 element) Inductively Coupled Plasma Atomic Emission Spectrometry Analytical and fire assay for gold methods where used. Activation Laboratories is an ISO/IEC accredited laboratory.

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 within 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 80M 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.
Mehran@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] https://www.equinoxgold.com/_resources/projects/technical_reports/2021-Hardrock.pdf

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136913

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

BHP And Riverside Resources Extend Sonora Mexico Exploration with Budget of US$1,600,000 in Funding Focused on Four Copper Properties and Llano De Nogal

Vancouver, British Columbia–(Newsfile Corp. – September 6, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report that the BHP – Riverside Exploration Funding Agreement (“EFA”) will be extended into a fourth year. Building on the past three years of BHP fully funded generative exploration work, the EFA will move into the next exploration phase focusing on five copper projects in Sonora, Mexico (see Figure 1) with a currently approved US$1,100,000 in exploration funding to work on the Llano de Nogal district and US$500,000 in ongoing High Value Work programs in the Sonora Projects for a total so far allocated budget of US$1,600,000 exploration work on the specified properties in the EFA.

The approved next phase of work focuses toward property specific funding to advance the current priority projects with derisking exploration, geophysics, geology, geochemistry, mineral titles, and other related mineral exploration aspects to progress towards drilling and drill decisions. Additional expanded budgets for drilling will be added as projects are moved forward to the Operational Phase for the BHP -Riverside EFA. To that effect, Riverside has experience in all aspects of the upcoming work, as Riverside has managed this successfully in earlier exploration alliances with Kinross Gold, Antofagasta, Cliffs, and Hochschild among others.

Riverside’s President and CEO, John-Mark Staude, commented: “We are pleased to see our partnership with BHP progress from the generative phase into more focused exploration work across the portfolio of projects we’ve acquired and advanced to-date. Now that our partnership with BHP is focusing on a priority group of copper projects, the extensive data, relationships and additional targets we’ve generated within the broader EFA area can also be leveraged and pursued by Riverside. The solid funding support by BHP builds beyond Riverside’s strong balance sheet and other projects. The Company owns and anticipates catalysts in the coming quarter.

This exploration program is coordinating with the technical teams from BHP and Riverside Resources to work together towards programs which are jointly defined by both companies, while Riverside continues to be the EFA Operator. The five projects that are moving forward are called collectively the “Sonora Projects”. BHP and Riverside will progress the Sonora Projects exploration for large Tier 1 scale porphyry Cu targets and work toward drilling where the majority ownership and funds from BHP could earn a minimum of 80%. Once any of the Sonora Projects are named a Designated Project and moved to the Operational Phase, the partnership continues through a funding by BHP of at least $4M into each project, as outlined in earlier news releases, with Riverside retaining an NSR on projects, should BHP earn an interest and Riverside does not choose to continue as JV partner.

BHP and Riverside will now focus the EFA on Sonora Projects with additional funding to be fully funded by BHP for this fourth year, with emphasizing on drill targeting, permitting, preparation for future drill testing of identified assets and expand on the work programs of the five projects noted below.

The Technical Committee, comprised of both BHP and Riverside personnel, reviewed and visited prospective areas in Sonora, identified during the Generation Phase of the EFA, and singled out a portfolio of five priority copper projects, which are inside of two reduced focused zones and specific property boundaries.

Figure 1: Progressing five projects inside of two focused areas for the BHP – Riverside funded work extended EFA.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6101/136027_3ad3038cc48b5a6a_002full.jpg

Additionally, with the thorough evaluations completed by the BHP – Riverside EFA, the Company and BHP now hold a comprehensive and unique data set on Sonora’s porphyry copper potential. Certain prospective target areas were not selected within the EFA framework for various reasons but still have significant potential to host large copper deposits, and both parties can now pursue these opportunities themselves. Moreover, Riverside is also working up four Additional Properties that are mutually agreed for BHP to consider and could be added to the Sonora Projects. These additional properties have yet to reach an on-going funding decision and if not, then may become part of the going forward target ideas that Riverside could pursue as well as the larger exploration region in the coming months.

Options Grant

On September 2nd, 2022 the Company granted 1,000,000 incentive stock options (the “Options”) to Directors, Officers and Consultants of the Company. The Options are exercisable at $0.13 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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 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.
Mehran@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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136027

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Hochschild Mining Sign Exploration Earn-in Option Agreement Valued at over US$31,000,000 for La Union Project Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – May 17, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that it has entered into a Exploration Earn-In Agreement (the “Agreement”) with Minera Hochschild Mexico, S.A. de C.V. (“Hochschild”), a wholly-owned subsidiary of Hochschild Mining PLC for Riverside’s 100% owned La Union Gold-Silver Project (the “Project”) in Sonora, Mexico. This new Agreement enables the Project to immediately move ahead with a robust exploration program and reflects the belief, by both parties, of the potential for rapid discovery of new gold-silver and base metal disseminated deposits on the 26 km2 Project.

Highlights of the Agreement are summarized below:

  • Phase I Earn-in Option: Hochschild can earn an undivided 51% by incurring US$8,000,000 in exploration expenditures over five (5) years.
  • Upon completion of Phase I obligations, Hochschild can elect to form a 51:49 joint venture.
  • Phase II Earn-in Option: Hochschild can elect to earn an additional 24% by incurring a further $3,000,000 in exploration expenditures and delivering a completed Feasibility Study (FS) over three (3) years.
  • Upon Hochschild completing the Phase II Earn-in, Riverside will have the option to sell its interest in the Project to Hochschild for US$20,000,000, while retaining a 1% Net Smelter Royalty (NSR).

Please see the Transaction Details section below for more information on the Agreement. The intention for the program is to initially conduct property wide sampling, improved mapping, and then geophysical work to rapidly refine drill targets. This would lead to expected drill testing in early 2023 and build upon the initial reconnaissance targeting work that Riverside has completed over the past two years. La Union is well described on Riverside’s website.

Riverside’s President and CEO, John-Mark Staude, stated: “We are delighted to partner again with Hochschild Mining as we have had a productive and positive relationship working together on several past projects. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of exploration spending that this agreement provides.”

For as long as Riverside is the Operator, Hochschild will reimburse Riverside the amount of the annual concession maintenance fees, property taxes, and any other payments required to maintain the Project. As Operator, Riverside will manage the exploration programs and be entitled to collect administration fees of 10% on contracts of less than US$100,000 and 5% on contracts of more than $100,000. Over the next six months, Riverside will also be reimbursed a total amount of $250,000 for its past expenditures on the Project.



Figure 1: Location Map of La Union and Surrounding Mines

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/124298_a6d59cc9f4eabae3_002full.jpg

About La Union Gold-Silver Project:

La Union Project is located in western Sonora approximately 70 km southwest of the town of Caborca in the southern portion of the carbonate stratigraphic mountains of the Sierra El Viejo. The reactive limestone and dolomites formed a carbonate-hosted style of mineralization in the late PreCambrian stratigraphy. Large shear zones are present and potentially provide plumbing and a possible host for precious metals mineralization. La Union has seen small-scale production dating back to the 1950s by Peñoles and local families. The Project was largely unexplored until 2012, when Paget and Millrock Resources started exploration work. High-grade rock chip samples reported by Paget and Millrock attracted Riverside’s attention to La Union which was subsequently acquired by Riverside as part of a five-project portfolio acquisition (see press release June 26, 2019).

Riverside has since worked on expanding its current footprint at the La Union Project after evaluating the existing system of mineralization and its potential. Riverside sampling (see press release October 6, 2021) highlighted significant mineralization with up to 59.8 g/t gold (“Au”), 833 g/t silver (“Ag”), 5.8% lead (“Pb”) and 4.2% zinc (“Zn”).

After completing a claim consolidation in September 2021, Riverside conducted a follow up mapping and sampling program including 103 rock chip samples with the best sample returning 83.2 g/t (2.6 oz/t) Au and 4,816 g/t (150 oz/t) Ag (see press release January 5, 2022). The work further enhanced Riverside’s understanding of the structural and lithological controls by linking the small historical workings into a larger regional context. Although the Project is still in its initial stages, mineralization appears to be of manto-chimney and replacement type within Pre-Cambrian to Cambrian sedimentary rocks.

Following-up on the high-grade sample results, Riverside’s team returned and was able to further define the extent of surface mineralization. The highlights of this latest work defined high grade polymetallic samples up to 30% Zn, 83.2 g/t Au, 4,816 g/t Ag, and 10.3% Pb. Of the 103 samples assay values ranged from 83.3 g/t Au to non-detectable with about 30% of the samples returning significant gold, silver, lead and/or zinc values. Click here to see more detailed info at La Union project page.

  • Au – high: 83.2 g/t; low cut-off: 0.5 g/t
  • Ag – high: 4,816 g/t; low cut-off: 300 g/t
  • Pb – high: 10.3%; low cut-off: 0.1%
  • Zn – high: 30%*; low cut-off: 0.1%

*30% Zn is the upper detection limit in analysis method performed

Transaction Details:

Phase I Earn-In Option:

  • Hochschild will pay Riverside the sum of US$100,000 on signing the Agreement;
  • Hochschild will pay Riverside the sum of US$150,000 on the six-month anniversary of the Effective Date (November 5, 2022) for reimbursement of maintenance fees paid by Riverside through August 2022 in respect of the Concessions making for a total of $250,000;
  • Hochschild will reimburse Riverside for all periodic payments made pursuant to the underlying option agreements with respect to concessions comprising the Project;
  • Hochschild to incur expenditures as listed in the table below totaling at least US$8,000,000 of qualifying exploration expenditures before the fifth anniversary of the effective date of the executed Agreement.

Table 1: Phase I Earn-In Option (Qualifying Expenditures)

By May 5, 2023
1st anniversary of the Effective Date
Expenditure of US$700,000
By May 5, 2024Expenditure of US$1,000,000
By May 5, 2025Expenditure of US$1,000,000
By May 5, 2026Expenditure of US$2,300,000
By May 5, 2027Expenditure of US$3,000,000

Phase II Earn-In Option:
In order to exercise the Phase II Earn-in Option, Hochschild shall pay for all Qualifying Expenditures incurred during the Phase 1 Earn-In periods and incur an additional US$3,000,000 plus costs necessary to prepare a Feasibility Study (FS) in accordance with CIM standards before the eighth anniversary of the Effective Date.

Table 2: Phase II Earn-In Option (Qualifying Expenditures)

May 2027 – May 2028Expenditure of at least US$1,000,000
May 2028 – May 2029Expenditure of at least US$1,000,000
May 2029 – May 2030Expenditure of at least US$1,000,000
Feasibility Study (FS)Undefined Expenditure Amount

The time within which the FS must be prepared can be extended for up to an additional 3 years subject to payment by Hochschild to Riverside of the following amounts:

Additional PeriodPayment
1 yearUS$50,000
2 yearsUS$250,000
3 yearsUS$500,000

Upon Hochschild’s completion of the Phase II Earn-In and Riverside’s acceptance, the parties can form a Joint Venture with Riverside having a 25% interest, and Hochschild having a 75% interest. Riverside will have the option to sell its interest in the Project to Hochschild for US$20,000,000, while retaining a 1% Net Smelter Royalty (NSR).

Hochschild can terminate the Agreement at any time on ninety (90) days’ notice to Riverside without any further obligation to incur exploration expenditure but will (a) remain subject to obligations accrued prior to termination (b) be required to reclaim disturbances caused by its activities and (c) pay federal annual concession maintenance fees and annual recording fees which fall due within sixty (60) days of the termination date.

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 within 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 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

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.

Categories
Base Metals Energy Junior Mining Precious Metals

Riverside Expands Drilling Program at Oakes Gold Project, Ontario and Provides Update on Initial Findings

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to announce that the Company has expanded its drilling program at the Oakes Project in Ontario, Canada. The Company initiated the program in March with a planned 1500 metres (“m”) of drilling and has now completed 1705 m across 12 drill holes. The drill program was designed to test IP geophysical anomalies that were defined through Riverside’s 2021 program and coincided with anomalous surface geochemical sampling completed by Riverside.

Drilling is now complete with logging, core cutting and sampling now underway. The Company has shipped the first three holes to ACT Labs in Thunder Bay for analysis and is expecting to have all core samples delivered to ACT Labs during April. Assay results are expected later in Q2, 2022 and will be released once reviewed and interpreted.

Observations from the core to this point is consistent with surface findings showing similar patterns of mineralization and lithologies from hole to hole along the HG Target, where the initial seven drill holes were focused (see Press Release March 3, 2022). The mineralized zone is described as a quartz-carbonate veining system characterized by disseminated to semi massive pyrite, pyrrhotite, chalcopyrite mineral assemblage (see Photo 1 below). These observations are similar to the mineralization noted in the previously completed sampling which returned anomalous values for gold.



Photo 1: Close-up pictures of drill core from hole 5 and semi-massive sulfides from hole 7.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_002full.jpg



Figure 2: Initial cross-section schematic sketch interpreted block diagram of the logged intercept in hole Oakes-22-05 from the 2022 RRI drilling campaign. Red lines correspond to the veining crosscut in the drilling.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_003full.jpghttps://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Ontario%253BTom%25C3%25A1%25C5%25A1_Hole%25C5%25A1%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522dc569072-7f8d-39c0-8f3b-476c41d2d19f%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Note: The above sketch is not to scale and does not include data from holes that have not been logged, final interpretations are subject to change.

Riverside’s President and CEO, John-Mark Staude: “We are delighted with the excellent contractors and team working with Riverside on our Oakes exploration campaign, completing the program safely and finding encouraging geology and sulfide zones. These first insights from our drilling program suggest we have intersected the likely source of the geophysics and are seeing shears and stringers that look similar to mineralized areas 20 km west at the Greenstone Mine and Geraldton Mining district. Samples are being processed and will be sent to the lab. Riverside’s team will be working on detailed logging of the split core and preparing the next stages for our exploration campaign.”

The simplified geological interpretation from the drilling to date suggests that sulfide mineralization (and possibly gold) is associated with shearing near or at the geological boundary between gabbroic sills and Archean-aged mafic volcanics comprising flows, tuffs and pillow basalts. Intercalated sediments and volcanics are also often mineralized and will be assayed to determine if gold is present. The expanded drill program has primarily tested only one target area (HG) plus two orientation drill holes into two other targets as is shown on the Company website: Click here.

Click the link to watch the CEO video interview – Riverside Commences Self-Funded Drill Program at the Oakes Gold Project, Canada

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 within 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 $4.5M 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

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119254

Categories
Base Metals Energy Junior Mining Precious Metals

Riverside Resources and Agnico Eagle Mines Reach Sale Agreement for the Pima Property, Santa Gertrudis Mine Area, Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – February 24, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle.

The Pima mineral concession is located inside Agnico’s property tenure and south of the known mine operation. Acquiring the Pima project allows Agnico to consolidate another part of its property concession and provides cash to Riverside. As a reminder, this project was originally added to Riverside’s portfolio as part of the 2019 purchase of the Millrock’s set of 5 (five) assets that included the Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the royalty to Millrock who has been a positive partner with the Company in Mexico.

Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold Project, which is located southeast of Agnico’s property and where drilling in 2021 discovered gold in intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4.5M 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

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.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Repatriates Its Portfolio in the Geraldton Gold Belt in Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – December 1, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the repatriation of its 3 projects in the Beardmore-Geraldton Greenstone Belt (“BGGB”) in Ontario, Canada. In February 2021, Riverside offered the sale of its portfolio to iMetal Resources Inc. (“iMetal”). The Purchase Agreement was contingent upon a series of conditions which were not completed. At this time both parties have mutually agreed to dissolve the transaction and Riverside has now retained 100% ownership of the project portfolio of: Oakes, Longrose and Pichette located in the well-endowed and prolific BGGB. The recovery of these projects occurs at an opportune time for Riverside, particularly since the region is experiencing a renaissance in mining activity. Specifically, the recent launch of construction at the Greenstone Mine (an Equinox Gold / Orion Joint Venture) near the town of Geraldton, which bodes extremely well for Riverside’s own projects which are located along the trans-Canada highway and in close proximity to the Greenstone Mine.

During the past 7 months Riverside acted as exploration operator completing a summer field program. During the agreement with iMetal, Riverside more than doubled the induced polarization survey (IP) grid as well as conducted a focused sampling and mapping program along the survey grid at the Oakes Gold Project.

Highlights of the BGGB portfolio can be found in the press release dated February 10, 2021, which summarizes the previous work done at Oakes and also Riverside’s work on the three properties (see Figure 1).



Figure 1: Riverside’s 3 projects in the Geraldton-Beardmore gold belt shown in red along 90 km trend

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_002full.jpg

Riverside’s President and CEO, John-Mark Staude: “Regaining control of this three-project portfolio of further de-risked gold properties near the developing Greenstone Gold Mine provides Riverside with a unique opportunity to advance exploration ourselves. Drill target generation progressed this summer, we have a drill permit in hand and will start with further exploration work at Oakes with a view towards drilling initial targets there during 2022.”

Oakes Project:

Riverside acquired the BGGB portfolio in 2019, through a staking program with the opportunity to secure open ground in a prolific gold belt in northwestern Ontario adjacent to the Greenstone Gold Mine, a large gold resource and near-term future mining operation. Since 2019, Riverside’s technical teams have progressed and defined a large undrilled exploration target through the compilation of historical work including high grade gold drill and trench results, and an IP survey. Riverside controls a total of 55 km2 (5,544 hectares) at the Oakes Project, which is defined as being the most advanced project within the recovered BGGB portfolio. The latest exploration work included defining drill targets over a 2.3 km long IP anomaly corresponding to approximately 30% of the property explored as presented below.

The 2021 IP survey included a total of 12 line-km with the intention to identifying continuity to the east and west of the known mineralized system. These new geophysical results show an increased anomaly from 600 m length to a total of 2.2 km with continuity of the anomaly from the 2010 IP1 grid to the 2021 grid extension. Recent field work from Riverside’s team aimed to verify the IP anomalies on the ground looking for any potential associated evidence of mineralization and collect samples (pending).

At least three targets have been described as presented below, all of them drill-ready:

  • High Grade (“HG”) target reporting up to 31.9 g/t Au at surface (see press release July 29, 2019)
  • Brinklow target reporting a sample of 0.8 g/t Au
  • Crib target with sample assays pending

The high chargeability anomalies are not restricted along strike, neither to the west nor the east side, leaving the possibility for extension beyond the 2.2 km three parallel chargeable corridors. This will allow for additional exploration follow up in 2022 heading toward drilling.



Figure 2: Normalized chargeability (IP) combined 2010 (Golden Chalice, 2010) and Riverside 2021 covering about 30% of the Oakes Project. Anomalies presented as targets are understood to be related to geological features/variations, all of interest potentially related to mineralization. Overall, IP anomalies strike at Az100. Assay results are from Riverside’s field work in 2019.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_003full.jpg

Moving forward, Riverside wishes to advance the project with a drill program. De-risking has allowed the company to build confidence for additional project investment. The company is also very pleased to have the projects back into its current portfolio, setting up new opportunities to move ahead in a belt that sees substantial mining investment now with the Equinox Gold / Orion Mine Finance partnership on building a large new gold mine operation at Greenstone near the Company’s property holdings.

Options Grant

On November 16, 2021 the Company granted 1,000,000 incentive stock options (the “Options”) to Directors, Officers and Consultants of the Company. The Options are exercisable at $0.16 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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 within 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 $5M 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 Golden Chalice, 2010

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106007

Categories
Base Metals Energy Junior Mining Project Generators

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

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

BHP and Riverside Resources Extend Exploration Funding Agreement for Third Year for Copper Exploration in Sonora, Mexico


Press Release


Corporate Presentation

https://youtu.be/O2KmBj9tcqc

Riverside’s President and CEO, John-Mark Staude: “Riverside is very pleased to be advancing the copper exploration program with BHP. The global demand for copper continues to increase and securing this additional year of increased funding puts Riverside in a great position to pursue copper opportunities more aggressively with our funding partner. We have a number of projects within the program advancing towards the drill stage and this added generative funding will allow us to grow the portfolio concurrently.

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

Proven and Probable

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources and Carlyle Commodities Prepare for Drilling at the Cecilia Project, Sonora, Mexico


Press Release


Corporate Presentation

https://youtu.be/G-4twSt6v8c

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6101/72991_37c97cfae41ac893_002.jpg

Riverside’s President and CEO, John-Mark Staude: “We are starting 2021 strong with an exciting drill program at the Cecilia Project. Recent exploration work has demonstrated the potential for high-grade gold mineralization at structural intersections namely the San Jose fault and the Agua Prieta structural corridor. Further work on the other target areas to come later this year as well as continued progress at additional Cerro Magallanes zones.”

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com