RIDGELINE MINERALS CORP - RDGMF STOCK NEWS

Ridgeline Minerals (TSXV: RDG) has provided an update on its ongoing Magnetotellurics (MT) Geophysical survey at the Selena Carbonate Replacement project in Nevada. The survey, operated under a Phase 1 exploration agreement with South32, covers high-priority CRD targets to test for sulfide mineralization at depth. The survey includes 211 stations on a 200m by 400m grid pattern and is approximately 80% complete, on budget and schedule.

The project is part of an earn-in agreement where South32 can acquire a 60% interest by funding US$10 million in work expenditures over five years, with an option to increase to 80% by funding an additional US$10 million over three years. The MT survey is preparing for a 2025 drill program that will target depths exceeding 1,000 vertical meters.

Ridgeline Minerals and Nevada Gold Mines (NGM) announced high-grade gold drill results from the Swift project in Nevada. Core hole SW24-006 intercepted 1.1 meters grading 10.4 g/t Au within 2.7 meters grading 7.0 g/t Au at 676.3m depth. This represents the highest-grade intercept in the project's history, hosted within the Roberts Mountains Formation. NGM has spent US $8.18M in work expenditures through September 2024 and must spend US $20M by December 2026 to earn a 60% interest in the project.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has provided an update on the ongoing drill program at the Swift gold project in Nevada, operated under an exploration earn-in agreement with Nevada Gold Mines (NGM). The program, delayed until August due to permitting issues, has completed the first of up to three deep core holes. NGM has revised its 2024 exploration budget to spend up to US $3.0 million on framework drilling at Swift.

Highlights include:

• Drillhole SW24-006 completed to a depth of 918.2 meters, with assays pending
• SW24-007 reverse circulation pre-collar in progress
• NGM has incurred US $7,448,986 in qualifying work expenditures through June 30, 2024

The Swift earn-in terms allow NGM to earn up to a 70% interest in the project by incurring US $30.0 million in qualifying work expenditures by December 31, 2029.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) has announced the grant of 2,770,000 stock options to directors, officers, employees, and consultants. These options are exercisable at $0.155 per share for a five-year period. Additionally, the company has granted 1,000,000 deferred share units (DSUs) to directors and 425,000 restricted share units (RSUs) to eligible persons. The DSUs and RSUs are governed by Ridgeline's RSU/DSU Plan and will be subject to applicable securities law hold periods. This move is part of the company's incentive stock option plan, aimed at aligning the interests of key personnel with those of shareholders.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has announced promising results from its induced polarization (IP) survey at the Big Blue porphyry copper-gold project in Nevada. The survey, conducted in August 2024, covered 28 line-kilometers across the Delker and Ohio porphyry targets.

Key findings include:

• A significant chargeability anomaly (20-25 mV/V) at the Delker Porphyry Target, potentially indicating the source of the Delker Mine trend
• A strong chargeability anomaly (15-20 mV/V) at the Ohio Porphyry Target, located near high-grade rock chip samples
• Potential for at least two porphyry targets on the property

The company plans to initiate a maiden drill program targeting both the shallow, high-grade copper skarn and deeper porphyry targets at Delker. The Ohio target may represent a standalone porphyry system or a faulted portion of the Delker porphyry.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has received approval from the TSX Venture Exchange for its Earn-In Agreement with a subsidiary of South32 at the Selena carbonate replacement deposit project in Nevada. The agreement, effective August 21, 2024, allows South32 to earn an initial 60% ownership interest by paying Ridgeline US$100,000 and funding US$10 million in exploration expenditures over five years. South32 can further increase its stake to 80% by spending an additional US$10 million over three years. Ridgeline will remain the project operator during the initial phase. The agreement includes provisions for South32 to arrange a debt facility for Ridgeline's share of mine development costs, subject to TSX Venture Exchange approval.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has reported high-grade surface rock chip results from its Big Blue porphyry Cu-Au project in Nevada. Key findings include:

- Samples of up to 3.9% copper and 16.3 g/t gold, with visible gold noted
- Expansion of the Big Blue land position by 23%, adding 111 lode claims
- Completion of an Induced Polarization geophysics survey
- Identification of a kilometer-scale porphyry Cu-Au footprint between the Delker Mine and Ohio targets
- Potential vector to the porphyry system westward, indicated by increasing gold and molybdenum grades

The company's VP of Exploration, Michael Harp, expressed optimism about the results and the potential for coincident chargeability anomalies at both porphyry targets.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has entered into an earn-in agreement with a subsidiary of South32 for its Selena carbonate replacement deposit (CRD) project in Nevada. South32 can acquire up to 80% interest in the project by funding up to $20 million in exploration expenditures over two phases. The initial phase allows South32 to earn a 60% interest by spending $10 million over five years, with a $2 million guaranteed spend. Ridgeline will remain the operator during this phase. The agreement includes a potential debt facility for Ridgeline to fund its share of future mine development costs. The first year's work program includes a ground magnetotelluric survey and drilling a production water well.

Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has received approval for its Exploration Plan of Operations (PoO) permit at the Selena CRD project in Nevada. The permit allows for up to 200 acres of surface disturbance, including exploration drill roads and pads. Key highlights include:

- Phase 1 disturbance covers 34.0 acres
- Systematic testing of the mineralized CRD corridor
- High-priority targets: Skarn and Chinchilla Sulfide
- Annual work plan revisions allowed
- Additional disturbance beyond Phase 1 requires further surveys and bonding

The approval is a significant milestone, enabling Ridgeline to plan the next phase of exploration at Selena, focusing on depth and strike towards Freeport-McMoRan's adjacent Butte Valley Porphyry project.