BIG RIDGE GOLD CORP - ALVLF STOCK NEWS

Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has provided an update on ongoing studies at the Hope Brook Gold Project (HBGP) in Newfoundland and Labrador. Key highlights include:

1. Completion of environmental baseline fieldwork in July to support Project Registration preparation.

2. Shipment of samples for an Ore Sorting Study to Saskatchewan Research Council (SRC).

The company expects to complete environmental baseline and ore sorting studies in Q4 2024, adding significant value to the upcoming Preliminary Economic Assessment. Environmental survey work builds on previous studies, evaluating the natural environment and current brownfield mine site condition. Ore sorting tests aim to separate 'zero grade' lithologies from mineralized ones, potentially improving mining efficiency. Additionally, SRC will conduct a gold deportment study to assess gold and copper distribution in the mineralization.

Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) has entered into a non-binding Letter of Intent (LOI) with Caprock Mining Corp. (CSE: CAPR) for the option of its 100% owned Destiny gold property in Quebec. The proposed terms include:

1. Caprock to issue 8,000,000 common shares on closing
2. Cash payments totaling $750,000 over three years
3. Share issuances worth $1,300,000 over three years
4. Exploration expenditures of $2,450,000
5. Big Ridge to retain a 1% NSR with a $1.0 million buy-back right

The agreement is subject to a definitive option agreement. Big Ridge's CEO, Mike Bandrowski, expressed excitement about the potential of the Destiny Gold Project and the timing given the recent gold price movement.

Big Ridge Gold Corp (TSXV: BRAU) (OTCQB: ALVLF) has closed a non-brokered private placement of 30,000,000 common shares at $0.05 per share, raising $1,500,000 in gross proceeds. The funds will be used for exploration and development of the Hope Brook Gold Project and general working capital. Notably, Michael Gentile has increased his holdings to 9.9% of the company, acquiring 12.6 million shares over the last six months. The company's market capitalization is currently $11 million. Big Ridge aims to capitalize on the strong gold price environment with the Hope Brook project, which offers regional infrastructure synergies and significant exploration potential. The company also announced the resignation of James Maxwell as a director.

Big Ridge Gold Corp. has announced its 2024 work program for the Hope Brook Gold Project in Newfoundland and Labrador. Key activities include mobilizing the team in mid-July, completing environmental baseline work, continuing ore sorting studies, and reconnaissance work for future drilling plans. Environmental studies will build on previous data to prepare for Project Registration, while ore sorting tests will assess the separation of non-mineralized rock. Preparations for a 2025 drill program will follow results from 2023 surveys. The work aims to support a Preliminary Economic Assessment and explore potential resource growth.

Big Ridge Gold Corp. (TSXV: BRAU, OTCQB: ALVLF) announced the grant of incentive stock options and share-based compensation to officers and non-executive directors effective July 1, 2024.

The company awarded 1.5 million options to its officers under their Amended and Restated Option Plan, exercisable at $0.06 per share and expiring on July 1, 2029.

Additionally, 150,000 Restricted Share Units (RSUs) were awarded to officers, vesting in equal tranches from 2025 to 2027.

Furthermore, 1.8 million Deferred Share Units (DSUs) were awarded to directors, vesting immediately under the company's cash-based DSU Plan.

Big Ridge Gold Corp. announced positive results from the 2023 mapping, sampling, and geophysical program at the Hope Brook Gold Project. The exploration program focused on the southwest extension of the deposit, identifying new drill targets and potential mineralized trends. The company is pleased with the findings and plans to further evaluate the area for future drilling. The results support the high priority of the Hope Brook Gold deposit extension, with an estimated indicated resource of 1.2M ounces grading 2.32 grams per tonne.

Big Ridge Gold Corp (TSXV: BRAU) highlights achievements in 2023, including a significant increase in mineral resource estimates, acquisition of new exploration assets, and strengthening of the board and exploration teams. The Company's President & CEO, Michael Bandrowski, expressed optimism despite market challenges.

Michael Gentile announces the acquisition of 4,000,000 common shares in Big Ridge Gold Corp., increasing his ownership stake to 7.07% on an undiluted basis. The acquisition was made for investment purposes, with a possibility of acquiring more securities in the future.

Big Ridge Gold Corp. (TSXV: BRAU) has increased its ownership in the Hope Brook Gold Project to 80% by exercising its second earn-in right. The company issued 10,000,000 common shares to First Mining Gold Corp. to acquire the additional 29% interest. The completion of the earn-in adds approximately 420,000 attributable gold ounces to the company's resource base and eliminates required project expenditures of about $4.2 million. The Hope Brook Gold Project has significant exploration potential and well-maintained infrastructure, while the Destiny Project in Quebec and the Oxford Lake Property in Manitoba offer additional mineralization opportunities.