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Ridgeline Minerals Provides Year-End Exploration Update for its Nevada Portfolio

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Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) provided updates on its Nevada exploration portfolio. The company projects a US $5.0 million exploration spend for 2024, with US $4.0 million funded by partners Nevada Gold Mines (NGM) and South32. Key highlights include:

- Swift Project: Achieved highest-grade intercept (1.1m grading 10.4 g/t Au) with NGM having spent US $8.18M through September 2024
- Big Blue Project: Phase II infill IP survey initiated, targeting Q1 2025 maiden drill program
- Black Ridge Project: NGM proposed US $200,000 2024 exploration budget
- Selena Project: Completed MT survey with South32, who must spend US $10M over five years for 60% interest

Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) ha fornito aggiornamenti sul suo portafoglio di esplorazione in Nevada. L'azienda prevede una spesa di esplorazione di 5,0 milioni di dollari USA per il 2024, con 4,0 milioni di dollari finanziati dai partner Nevada Gold Mines (NGM) e South32. I momenti salienti includono:

- Progetto Swift: Raggiunto il campione di alta qualità più elevato (1,1 m con un grado di 10,4 g/t Au) dopo che NGM ha speso 8,18 milioni di dollari USA fino a settembre 2024
- Progetto Big Blue: Iniziata la fase II del sondaggio di infill IP, puntando al programma di perforazione inaugurale nel primo trimestre del 2025
- Progetto Black Ridge: NGM ha proposto un budget di esplorazione di 200.000 dollari USA per il 2024
- Progetto Selena: Completato il sondaggio MT con South32, che deve spendere 10 milioni di dollari USA in cinque anni per avere un interesse del 60%

Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) proporcionó actualizaciones sobre su cartera de exploración en Nevada. La empresa proyecta un gasto de exploración de 5.0 millones de dólares estadounidenses para 2024, de los cuales 4.0 millones de dólares son financiados por los socios Nevada Gold Mines (NGM) y South32. Los puntos clave incluyen:

- Proyecto Swift: Se logró la intersección de más alta ley (1.1m con una ley de 10.4 g/t Au) con NGM habiendo gastado 8.18 millones de dólares estadounidenses hasta septiembre de 2024
- Proyecto Big Blue: Iniciada la fase II de la encuesta IP de relleno, con el objetivo de un programa de perforación inaugural en el primer trimestre de 2025
- Proyecto Black Ridge: NGM propuso un presupuesto de exploración de 200,000 dólares para 2024
- Proyecto Selena: Se completó la encuesta MT con South32, que debe gastar 10 millones de dólares en cinco años para obtener un 60% de participación

리드지라인 미네랄스 (TSXV: RDG) (OTCQB: RDGMF)가 네바다 탐사 포트폴리오에 대한 업데이트를 제공했습니다. 이 회사는 2024년에 500만 달러 미국 달러의 탐사 비용을 예상하며, 400만 달러는 파트너인 네바다 골드 마인스(NGM)와 사우스32가 자금을 지원합니다. 주요 내용은 다음과 같습니다:

- 스위프트 프로젝트: NGM이 2024년 9월까지 818만 달러를 지출하면서 최고 등급의 시료(1.1m, 10.4 g/t Au)를 달성했습니다.
- 빅 블루 프로젝트: 2025년 1분기 최초 시추 프로그램을 목표로 하는 2단계 재조사 IP 조사 시작
- 블랙 리지 프로젝트: NGM은 2024년 탐사 예산으로 20만 달러를 제안했습니다.
- 셀레나 프로젝트: 사우스32와의 MT 조사가 완료되었으며, 사우스32는 60%의 지분을 확보하기 위해 5년 동안 1천만 달러를 사용해야 합니다.

Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) a fourni des mises à jour sur son portefeuille d'exploration du Nevada. La société prévoit une dépense d'exploration de 5,0 millions de dollars US pour 2024, dont 4,0 millions de dollars sont financés par les partenaires Nevada Gold Mines (NGM) et South32. Les points saillants incluent :

- Projet Swift : Dans le cadre de ce projet, une intersection de la plus haute qualité a été atteinte (1,1 m avec un grade de 10,4 g/t Au), NGM ayant dépensé 8,18 millions de dollars US jusqu'en septembre 2024
- Projet Big Blue : La phase II de l'enquête IP de remplissage a été lancée, visant un programme de forage inaugural au premier trimestre 2025
- Projet Black Ridge : NGM a proposé un budget d'exploration de 200 000 dollars US pour 2024
- Projet Selena : Enquête MT complétée avec South32, qui doit dépenser 10 millions de dollars au cours des cinq prochaines années pour obtenir un intérêt de 60%

Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) hat Updates zu seinem Erkundungsportfolio in Nevada bereitgestellt. Das Unternehmen plant eine Erkundungsausgabe von 5,0 Millionen US-Dollar für 2024, wobei 4,0 Millionen US-Dollar von den Partnern Nevada Gold Mines (NGM) und South32 finanziert werden. Wichtige Höhepunkte sind:

- Swift-Projekt: Höchste Qualitätsprobe erzielt (1,1 m mit 10,4 g/t Au), während NGM bis September 2024 8,18 Millionen US-Dollar ausgegeben hat.
- Big Blue Projekt: Phase II der Infill-IP-Umfrage gestartet, mit Ziel eines ersten Bohrprogramms im ersten Quartal 2025
- Black Ridge Projekt: NGM hat ein Erkundungsbudget von 200.000 US-Dollar für 2024 vorgeschlagen
- Selena Projekt: MT-Umfrage mit South32 abgeschlossen, die 10 Millionen US-Dollar über fünf Jahre ausgeben muss, um ein 60%iges Interesse zu erhalten

Positive
  • Secured US $4.0M partner-funded exploration budget for 2024
  • Swift Project achieved record high-grade gold intercept of 10.4 g/t Au
  • NGM has invested US $8.18M in Swift Project through September 2024
  • South32 partnership requires minimum US $10M investment over five years at Selena
Negative
  • Swift Project drilling missed targeted limestone host rocks due to unexpected thrust offset

Vancouver, British Columbia--(Newsfile Corp. - December 18, 2024) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to provide a year-end exploration update across its portfolio of six projects in Nevada. The Company's Swift and Black Ridge projects are operating under earn-in exploration agreements with Nevada Gold Mines ("NGM") with drilling in-progress at Swift. The Selena project is operating under an earn-in exploration agreement with a wholly owned subsidiary of South32 Limited ("South32"), while Ridgeline continues to advance its 100%-owned Big Blue porphyry copper-gold project.

Ridgeline projects a 2024 exploration spend across all projects of up to US $5.0 million, with an estimated US $4.0 million being fully funded by its partners at NGM and South32. Multiple projects are currently completing geophysical surveys or drilling programs through to the end of the year, with additional details for each project highlighted below.

To view a map of Ridgeline's exploration projects in Nevada, click HERE.

Chad Peters, Ridgeline's President, CEO & Director commented, "2024 saw meaningful exploration progress across our portfolio, including a new earn-in exploration agreement with South32 at the Selena project, followed by Nevada Gold Mines drilling its first high-grade gold intercept at our Swift project. We are thrilled to see exploration efforts continue to accelerate at multiple projects and we anticipate all three of our partner projects to conduct drill programs in 2025."

Mr. Peters continues, "A Phase II, infill IP survey is also in progress at our wholly owned Big Blue project, with this summer's Phase I survey identifying a potential porphyry center underpinning the past producing Skarn Hill and Delker Mines. This infill survey will focus on increasing resolution along strike of the kilometer-scale chargeability high beneath Skarn Hill, which is interpreted as the proposed porphyry source to the high-grade copper-gold skarn that was historically mined at both Skarn Hill and Delker. Ridgeline has received all necessary exploration permits and looks forward to initiating a maiden drill program at Big Blue in late Q1 2025."

2024 Exploration Program Highlights

Swift Gold Project (NGM Earn-In)

Drillhole SW24-006 returned the highest-grade intercept in the Project's history with highlight results of 1.1m grading 10.4 g/t Au within 2.7m grading 7.0 g/t Au (Figure 1) (see November 7, 2024 news release HERE).

  • The bottom of the hole returned a previously unreleased intercept of 13.3m grading 0.25 g/t Au hosted in sheared Hanson Creek and Upper Plate within the Mill Creek Thrust
  • SW24-006 did not intersect the targeted "slope facies" limestone host rocks beneath the Hanson Creek Formation due to the shallower than expected Mill Creek Thrust offsetting this prospective lower unit

Drillhole SW24-007 is currently in progress and testing the down-dip projection of the Mill Creek thrust approximately 1.0 kilometer to the southwest of SW24-006

  • The Company anticipates completion of the core hole in mid-late December and assay results to follow in Q1 2025

NGM has incurred a total of US $8,185,317 in qualifying work expenditures on the Project through September 30, 2024, and must spend a minimum of US $20,000,000 in qualifying work expenditures by December 31, 2026, to earn an initial 60% interest in the Project (see September 22, 2021 press release HERE).

See September 21, 2021 press release HERE for details on the Swift project earn-in terms.

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Figure 1Plan view map showing the location of the Swift project located on the Cortez District with the location of high-grade drillhole SW24-006 (white star)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/234265_54e048f9f46fb899_002full.jpg

Big Blue Project (100% Ridgeline Minerals)

The Phase II, infill IP survey was initiated in early December with an expected completion before the end of the year (Figure 2).

  • The Phase II survey will focus on increasing resolution along strike of the kilometer-scale chargeability high beneath Skarn Hill, which is interpreted as the proposed porphyry source to the high-grade copper ("Cu")- gold ("Au") skarn that was historically mined at both Skarn Hill and Delker
  • Results of the survey will help guide targeting efforts for the Company's proposed maiden drill program in late Q1 2025

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Figure 2Plan view map showing location of Phase II, IP infill survey lines (white dash) to complement positive results from the Phase I survey (black lines) completed in August 2024

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/234265_54e048f9f46fb899_003full.jpg

Black Ridge Gold Project (NGM Earn-In)

NGM (Black Ridge project operator) proposed a 2024 exploration budget of up to US $200,000 to fund the next phase of field mapping and surface geochemical surveys to support a maiden drill program in 2025 (Figure 3).

  • NGM has incurred a total of US $182,151 in qualifying work expenditures through September 30, 2024, for a total of US $459,083 life of project, with a minimum spending requirement of US $1,500,000 required by December 31, 2025

See July 17, 2023 press release HERE for details on the Black Ridge project earn-in terms.

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Figure 3Plan view map showing the location of the Black Ridge project located in the north Carlin Trend and directly on-trend of NGM's high-grade Fallon gold discovery

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/234265_54e048f9f46fb899_004full.jpg

Selena CRD Project (South32 Earn-In)

The MT survey was completed on December 16, 2024 and covers all high-priority CRD targets at Selena to test for conductive anomalies (i.e., sulfide mineralization) at depth, particularly at the Chinchilla Sulfide and Skarn targets (Figure 4):

  • The 211-station survey was complete on schedule and on budget with data processing underway with Moombarriga Geoscience
  • Final survey results anticipated to be received in January 2025

South32 has incurred approximately US$350,000 in qualifying work expenditures at Selena through September 30, 2024, and must spend a minimum of US$10,000,000 in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in the Project (see August 22, 2024 press release HERE). South32 must also fund US$500,000 and US$1,500,000 (total of US$2,000,000) in exploration expenditures on or before each of the first and second anniversaries, respectively, of the Agreement.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7298/234265_54e048f9f46fb899_005.jpg

Figure 4Plan view map of Selena showing MT survey stations (green) over silver equivalent grade thickness contours of known mineralization at the Chinchilla Oxide and Chinchilla Sulfide targets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/234265_54e048f9f46fb899_005full.jpg

Pipeline Projects

Ridgeline is actively pursuing opportunities for its pipeline of 100% owned, early-stage projects such as Bell Creek and Coyote, and continues to seek out and assess new exploration opportunities across Nevada.

QA/QC Procedures

Ridgeline Minerals samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30g fire assay) and ICP-5AM48 (48 element Suite; 0.5g 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.

Nevada Gold Mines samples are submitted to ALS Minerals, Elko Nevada, which is a certified and accredited laboratory, independent of Nevada Gold Mines. Samples are prepared using industry-standard prep methods and analysed using Au-AA23 (Au; 30 g fire assay) and ME-MS61 (48 element Suite; 0.25 g 4-acid digestion/ICP- MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Nevada Gold Mines QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed internally by Nevada Gold Mines technical personnel.

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 Minerals is a discovery focused precious and base metal explorer with a proven management team and a 195 km2 exploration portfolio across six projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Bell Creek & Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project. 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 & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234265

FAQ

What was the significant gold discovery in Ridgeline's RDGMF Swift Project in 2024?

In 2024, drillhole SW24-006 at the Swift Project returned the highest-grade intercept in the project's history with 1.1m grading 10.4 g/t Au within 2.7m grading 7.0 g/t Au.

How much will Nevada Gold Mines need to spend to earn 60% interest in RDGMF's Swift Project?

NGM must spend a minimum of US $20 million in qualifying work expenditures by December 31, 2026, to earn an initial 60% interest in the Swift Project.

What is RDGMF's total projected exploration spend for 2024 across all Nevada projects?

Ridgeline projects a total exploration spend of up to US $5.0 million across all projects in 2024, with US $4.0 million being funded by partners NGM and South32.

When will RDGMF begin its maiden drilling program at the Big Blue project?

Ridgeline plans to initiate its maiden drilling program at the Big Blue project in late Q1 2025, following completion of the Phase II infill IP survey.

RIDGELINE MINERALS CORP

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