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Riverside Resources Expands British Columbia Rare Earth Elements Property Portfolio with Taft Project Acquisition

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Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) has signed an option agreement to acquire 100% interest in the Taft Project, a 3,000-hectare property in British Columbia's Revelstoke Carbonatite Belt, targeting Rare Earth Elements (REE) and gold mineralization. The acquisition requires staged cash payments of CAD $125,000 over five years and exploration expenditures of $320,000.

The company plans immediate field programs starting with stream geochemistry studies, followed by soil and rock geochemical prospecting. The exploration will include geological mapping and reconnaissance traverses, focusing on REE potential in carbonatite intrusions and investigating gold anomalies. The transaction involves no royalties, maintaining Riverside's commitment to royalty-free projects.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) ha firmato un accordo di opzione per acquisire il 100% del Progetto Taft, una proprietà di 3.000 ettari nella Fascia Carbonatitica di Revelstoke in Columbia Britannica, con l'obiettivo di esplorare Elementi delle Terre Rare (REE) e mineralizzazione d'oro. L'acquisizione prevede pagamenti in contante scaglionati di 125.000 CAD nel corso di cinque anni e spese di esplorazione di 320.000 dollari.

La società prevede di avviare programmi sul campo immediatamente, iniziando con studi di geochimica fluviale, seguiti da prospezioni geochimiche su suolo e roccia. L'esplorazione includerà mappatura geologica e traverse di ricognizione, concentrandosi sul potenziale dei REE nelle intrusioni carbonatitiche e indagando le anomalie d'oro. La transazione non comporta royalties, mantenendo l'impegno di Riverside per progetti senza diritti d'autore.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) ha firmado un acuerdo de opción para adquirir el 100% del Proyecto Taft, una propiedad de 3,000 hectáreas en la Franja Carbonatítica de Revelstoke en Columbia Británica, dirigida a la exploración de Elementos de Tierras Raras (REE) y mineralización de oro. La adquisición requiere pagos en efectivo escalonados de 125,000 CAD durante cinco años y gastos de exploración de 320,000 dólares.

La compañía planea iniciar de inmediato programas de campo comenzando con estudios de geoquímica de corrientes, seguidos de prospecciones geoquímicas de suelo y roca. La exploración incluirá mapeo geológico y travesías de reconocimiento, centrándose en el potencial de REE en intrusiones carbonatíticas e investigando anomalías de oro. La transacción no implica regalías, manteniendo el compromiso de Riverside con proyectos libres de regalías.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF)는 브리티시컬럼비아의 레벨스토크 탄산염대에서 3,000헥타르 규모의 타프트 프로젝트에 대한 100% 지분을 인수하기 위한 옵션 계약을 체결했습니다. 이 프로젝트는 희토류(REE) 엘리먼트와 금 광물화를 목표로 하고 있습니다. 인수에는 5년 동안 연차별로 125,000 캐나다 달러의 현금 지급과 320,000 달러의 탐사 비용이 필요합니다.

회사는 즉각적인 현장 프로그램을 계획하고 있으며, 첫 단계로 하천 지구화학 연구를 시작하고 그 다음으로 토양 및 암석 지구화학 탐사에 나설 예정입니다. 탐사는 REE 잠재성이 있는 탄산염 침입체의 지질 mapping과 기초 조사를 포함하며 금 이상 현상도 조사할 것입니다. 이번 거래는 로열티가 없으며, 이는 Riverside가 로열티 무료 프로젝트에 대한 약속을 유지하고 있음을 나타냅니다.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) a signé un accord d'option pour acquérir 100 % de l'Projet Taft, une propriété de 3 000 hectares dans la ceinture carbonatite de Revelstoke en Colombie-Britannique, visant les éléments des terres rares (REE) et la minéralisation de l'or. L'acquisition nécessite des paiements en espèces échelonnés de 125 000 CAD sur cinq ans et des dépenses d'exploration de 320 000 dollars.

La société prévoit de lancer immédiatement des programmes de terrain en commençant par des études de géochimie des cours d'eau, suivies de prospections géochimiques des sols et des roches. L'exploration comprendra la cartographie géologique et des traversées de reconnaissance, se concentrant sur le potentiel des REE dans les intrusions carbonatitiques et enquêtant sur les anomalies d'or. La transaction n'implique pas de redevances, maintenant l'engagement de Riverside à des projets sans redevances.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) hat einen Optionsvertrag unterzeichnet, um einen 100%igen Anteil am Taft-Projekt zu erwerben, einer 3.000 Hektar großen Liegenschaft im karbonatitischen Gürtel von Revelstoke in British Columbia, die sich auf die Erschließung von Seltenen Erden (REE) und Goldmineralisierungen konzentriert. Der Erwerb erfordert gestaffelte Barzahlungen von 125.000 CAD über fünf Jahre sowie Erkundungsausgaben von 320.000 Dollar.

Das Unternehmen plant sofortige Feldprogramme, beginnend mit Studien zur Geochemie von Gewässern, gefolgt von geochemischen Erkundungen von Böden und Gestein. Die Erkundung wird geologische Kartierungen und Erkundungstouren beinhalten, die sich auf das Potenzial von REE in karbonatitischen Intrusionen konzentrieren und Goldanomalien untersuchen. Die Transaktion beinhaltet keine Royalties und unterstreicht damit das Engagement von Riverside für royalfreie Projekte.

Positive
  • Option to acquire 100% interest in a strategic REE and gold property
  • No royalty obligations attached to the acquisition
  • Structured payment terms spread over 5 years (CAD $125,000 total)
  • Manageable exploration commitment of $320,000 over 5 years
Negative
  • Requires total cash outlay of CAD $125,000
  • Mandatory exploration expenditure commitment of $320,000

Vancouver, British Columbia--(Newsfile Corp. - December 9, 2024) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce it has signed an option agreement to acquire a 100% interest in the Taft Project ("Project"). The Project covers a total area of 3,000 hectares (30 km2) and is located in the highly prospective Revelstoke Carbonatite Belt region of British Columbia for Rare Earth Elements (REE) and gold mineralization. This transaction aligns with Riverside's strategy of targeting high-value mineral assets in favorable jurisdictions and taking advantage of government support led by technical quality as a focus. Critical metals, such as rare earth elements (REE), are essential for national security and economic prosperity and Riverside is actively strengthening its position by acquiring and staking high-potential critical metals projects. The Company plans to begin a field program on the Project immediately.

"Riverside Resources has a long history of identifying and acquiring high-potential mineral assets in stable jurisdictions, and the Taft Project is another excellent example of this approach," stated John-Mark Staude, President and CEO of Riverside Resources. "As the demand for critical minerals continues to grow, particularly in the fields of renewable energy, electric vehicles, and advanced technologies, projects like Taft play an essential role in securing North America's access to these vital resources."

"With governments increasingly emphasizing the importance of developing domestic supply chains for critical minerals, including recent initiatives by the United States and Canada to support exploration and production, Riverside is proud to contribute to this strategic imperative. By acquiring and investing in projects like Taft, we are not only enhancing our portfolio but also progressing the global transition to cleaner energy and more resilient supply networks."

Project Option Terms:

As per the Agreement, Riverside can earn a 100% interest in the Taft Project by making staged cash payments totaling CAD $125,000 over five years, as detailed below:

a) $15,000 upon signing of the Agreement; (paid)
b) $15,000 on or before the 1st anniversary of the Effective Date;
c) $20,000 on or before the 2nd anniversary of the Effective Date;
d) $20,000 on or before the 3rd anniversary of the Effective Date;
e) $25,000 on or before the 4th anniversary of the Effective Date; and
f) $30,000 on or before the final anniversary of the Effective Date.

Additionally, Riverside will commit to a minimum of $320,000 in exploration expenditures over the same period, as detailed below:

a) $ 60,000.00 on or before the 1st anniversary of the Effective Date;
b) $ 60,000.00 on or before the 2nd anniversary of the Effective Date;
c) $ 60,000.00 on or before the 3rd anniversary of the Effective Date;
d) $ 60,000.00 on or before the 4th anniversary of the Effective Date; and
e) $ 80,000.00 on or before the final anniversary of the Effective Date.

This transaction involves no royalties, aligning with Riverside's ongoing commitment to maintaining royalty-free projects. Consistent with its business model over the past 15+ years, Riverside creates royalties only when optioning or selling projects to third parties in future business transactions.

Exploration Plans

The exploration program will begin with stream geochemistry studies initiated this summer, followed by soil and rock geochemical prospecting. Fieldwork will include geological mapping and reconnaissance traverses, building on earlier government studies and prior prospector reports. The focus is to delineate the Rare Earth Element potential associated with carbonatite intrusions, which are key mineralization targets for both the property and the company within this belt. Additionally, the program will investigate gold anomalies identified in initial surveys, building on previous exploration efforts in the area. Riverside's planned investments include geological mapping, sampling, and targeted drilling to further define the resource potential of the project.

About the Taft Project

The Taft Project presents a high-potential opportunity to discover critical mineral resources essential to the increasing demand for renewable energy, technology, and advanced materials. Its favorable geological setting and strategic location within a supportive jurisdiction highlight its importance in Riverside's portfolio. Geological mapping of the REE-rich terrane has identified promising areas along the belt, supported by favorable geochemistry and indicator minerals. Current sampling and exploration efforts, in collaboration with local prospectors, aim to refine targets through access, sampling, and mapping. These activities are paving the way for a focused exploration program in 2025, targeting both REE and gold zones.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6101/232849_36c44faa64bf49eb_003.jpg

Figure 1: Location map and mineral concession map with tenure under option in red and Riverside 100% owned tenure in yellow.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/232849_36c44faa64bf49eb_003full.jpg


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 information provided in 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 $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

Eric Negraeff
Investor Relations
Riverside Resources Inc.
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/232849

FAQ

What is the size of the Taft Project acquired by Riverside Resources (RVSDF)?

The Taft Project covers a total area of 3,000 hectares (30 km²) in British Columbia's Revelstoke Carbonatite Belt region.

How much will Riverside Resources (RVSDF) pay for the Taft Project acquisition?

Riverside will make staged cash payments totaling CAD $125,000 over five years and commit to $320,000 in exploration expenditures during the same period.

What minerals is Riverside Resources (RVSDF) targeting at the Taft Project?

Riverside is targeting Rare Earth Elements (REE) and gold mineralization at the Taft Project.

What are the initial exploration plans for the Taft Project by Riverside Resources (RVSDF)?

The company plans to begin with stream geochemistry studies, followed by soil and rock geochemical prospecting, geological mapping, and reconnaissance traverses.

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