Ridgeline Minerals Acquires Extensive Historical Database for the Big Blue Project, Nevada

Rhea-AI Summary

Ridgeline Minerals Corp. acquires historical exploration database for the Big Blue project in Nevada, saving time and exploration capital. Potential targets include porphyry sources and a six-kilometer-long target area. Limited historical drilling did not adequately test geophysical anomalies beneath copper mineralization. Maiden drill campaign planned for 2024.

Positive

• Ridgeline Minerals Corp. acquires valuable historical exploration database, saving time and capital
• Potential targets include porphyry sources and a six-kilometer-long target area

Negative

• Limited historical drilling did not adequately test geophysical anomalies beneath copper mineralization

Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce it has acquired, at no cost to the Company, an extensive historical exploration database for the Big Blue project ("Big Blue" or "Project") from an undisclosed third-party. Big Blue is a porphyry-CRD, copper ("Cu") - gold ("Au") - silver ("Ag") - lead ("Pb") - zinc ("Zn") exploration prospect in Elko County, Nevada, which includes the past producing high-grade copper Delker Mine (See February 9, 2023 press release HERE). The newly acquired data is a modern geologic database consisting of detailed mapping, surface geochemistry, drill data and multiple generations of surface and airborne geophysics. The data has been thoroughly validated and incorporated into the Big Blue geologic model and is expected to save significant time and exploration capital to advance the Project to a maiden drill program in 2024. A detailed summary of the historical database is highlighted below.

Mike Harp, Ridgeline's Vice President, Exploration commented, "The acquisition of this historical dataset is a major step forward for the geologic model at Big Blue and significantly accelerates the exploration process for our team. The geophysical surveys in particular highlight multiple potential targets, including porphyry targets and a well-defined, northeast trending structural corridor that extends between the historical Delker copper-gold Mine and Reyna Silver's Medicine Springs CRD project located on our southwestern boundary. This untested structural trend represents a highly prospective, six-kilometer-long target area that is bracketed on both ends by historical copper and base metal mines. The database also suggests that the limited historical drilling that was conducted on the project did not drill deep enough to adequately test geophysical anomalies located directly beneath multi-percent copper mineralization that was historically mined from the Delker Mine and Skarn Hill adit. Our team plans on integrating and reinterpreting the raw data sets to continue building out the geologic mode with the goal of initiating a maiden drill campaign in 2024."

Historical Data Summary:

Geophysics

• Two generations of magnetic surveys including a regional airborne survey and high-resolution ground magnetics with a 3D inversion focused on the Delker Mine area (Figure 1 & Figure 2)
• Ground gravity survey with supporting 3D inversion (Figure 1)
• Two induced polarization ("IP") lines focused on the Delker Mine and Skarn Hill adits

Significance - Airborne magnetics and IP lines highlight potential for porphyry source at depth while ground magnetics and gravity surveys highlight key structural trends

Surface Geochemistry

• Individual rock chip samples returned up to 5.5% Cu (Figure 2)
  • A total of 61 historical rock chips have been added to the Ridgeline database ranging from below assay detection limits to 5.5% Cu (avg.0.42% Cu)
• 251 soil samples were collected on a 100x100m grid within outcrop and shallow alluvium in the Delker Mine area

Significance - Rock chips confirm roughly 1.5 km long trend of high-grade Cu-skarn mineralization on-trend of the Delker Mine and Skarn Hill adit.

Drilling

• Six historical drillholes completed by Newmont and Exxon Minerals were drilled on the project for a total of 1,177 meters with the deepest hole reaching a maximum depth of 1,177.3 meters (Figure 1)

Significance - Limited drilling on the property did not drill deep enough to test targets within prospective limestone host horizons

Mapping

• Multiple generations of detailed geologic mapping between 1989 and 1992

Significance - mapping highlights copper bearing felsic dikes that crosscut older Jurassic age porphyries in the Delker Mine area

Geochronology

• Regional age-dating program highlights up to six generations of Jurassic age porphyry intrusions with multiple copper-bearing felsic dikes that crosscut the Jurassic intrusions

Significance - Jurassic age porphyries are the same age range as Nevada's Yerington copper district with mapped and crosscutting copper bearing dikes in the Delker Mine area suggesting the potential for a Cretaceous age porphyry system (ie: Robinson copper district)

Big Blue Project

Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers ("km") southeast of the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-1917 ¹ and shares its southern boundary with Reyna Silver's Medicine Springs Ag-Pb-Zn Carbonate Replacement ("CRD") project. Mineralization occurs as high-grade skarn located proximal to northeast trending felsic dikes that are interpreted as bleeding off a potential porphyry source located on or near the Big Blue property, which has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, which may be the source of distal CRD mineralization at Medicine Springs - analogous to the Butte Valley porphyry Cu-Au system inferred to be a source of CRD mineralization at the Company's nearby Selena project. A large portion of the Project is covered by shallow, post-mineral gravels covering a roughly five (5) km target area resulting in limited surface expression of the porphyry system. The 100% owned Project is comprised of a total of 29 square kilometers of highly prospective exploration ground that has seen limited exploration since the early 1900's and will benefit from the Ridgeline's systematic approach to discovery (view Ridgeline's Corporate Deck HERE).

Figure 1: Plan view map on the left showing Residual Gravity overlying Horizontal Gradient highlighting a proposed northeast trending structural corridor. Reduced to Pole airborne magnetics on the right highlight a kilometer scale magnetics "high" in the Delker Mine area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/178366_ddd30ac7748e1905_002full.jpg

Figure 2: Delker Mine conceptual x-section A-A' showing 3D inversion of high-resolution ground magnetics survey. Magnetic high sits directly below high-grade Delker Mine and multi-percent copper rock chips associated with felsic dike swarm mapped at surface

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/178366_ddd30ac7748e1905_003full.jpg

QAQC Procedures

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

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

About Ridgeline Minerals Corp.

Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 192 km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com

On behalf of the Board
"Chad Peters"
President & CEO

Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
(775) 304-9773 | info@ridgelineminerals.com

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

Cautionary Note regarding Forward Looking Statements

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

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