Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce it has entered into an exploration earn-in option agreement to acquire a 100% interest in the Trench oxide gold project ("Trench or the "Project") from Bronco Creek Exploration, a wholly-owned subsidiary of EMX Royalty Corp. (TSXV: EMX) ("EMX"). The Project is host to an outcropping and historically underexplored Carlin-Type gold system that exhibits similar age host rocks and mineralization style to Ridgeline's adjoining Atlas project.
Trench is comprised of 31 Bureau of Land Management lode mining claims totaling 2.2 square kilometers. The Project is located approximately 30 kilometers southwest of the town of Carlin, Nevada, with excellent access to local infrastructure (Figure 1). The area was previously explored in the 1990's by several groups with surface trenching and limited drilling (results unknown). Anomalous, widespread gold mineralization and structurally controlled higher-grade gold grading up to 5.6 grams per tonne ("g/t") gold ("Au") is hosted within a sequence of prospective Ordovician to Pennsylvanian-Permian age rocks cut by a series of Tertiary dikes (Figure 2). These Tertiary dikes may represent a potential source to the Carlin-Type gold system and are a likely mineralizing control to the higher-grade rock chips taken to-date. As part of the agreement, the Company will inherit a surface geochemical database with technical highlights and exploration earn-in terms detailed below:
Mike Harp, Ridgeline's Vice President, Exploration, commented, "This is a great acquisition for Ridgeline as we further consolidate our Atlas oxide gold project in advance of a maiden drill program this spring. The Trench claims are contiguous with the greater Atlas project and exhibit high-grade gold at surface but has seen limited modern exploration. This consolidation expands the Atlas mineralized footprint to over four kilometers of combined strike and aligns with the Company's strategy of acquiring and systematically advancing underexplored projects in known gold districts."
Surface Sampling Highlights
34 reconnaissance rock chips were taken between the EMX and Ridgeline teams with grades up to 5.6 g/t Au (Figure 2).
- A series of high-grade rock chips ranging from 1.8 g/t Au to 5.6 g/t Au were taken from reclaimed trench locations that were originally built by operators in the 1990's (Figure 2 and Picture 1)
- Rock chip statistics : Min = 0.001 g/t Au, Med = 0.33 g/t Au, Max = 5.64 g/t Au
The current dataset at Trench is encouraging but limited in size. The Company plans to complete an expanded rock chip sampling and field mapping campaign in H2, 2025 to supplement the existing surface geochemical database.
Figure 1: Map showing Ridgeline's 200-kilometer² exploration portfolio in Nevada. The Trench property will be consolidated into the Company's Atlas oxide gold property.
Picture 1: Picture of historical trench or road cut that has been reclaimed. High-grade gold samples were taken from a partially collapsed trench face where decalcified and sulfidized limestones are exposed.
Figure 2: Plan view map of the Atlas project highlighting the Trench property (red) with high-grade rock chips grading up to 5.6 g/t oxide gold at surface.
Exploration Earn-In Terms - All dollar amounts in USD
Subject to TSX Venture Exchange approval pursuant to the Agreement, Ridgeline may earn a 100% interest in the Project by:
- Making the initial execution payment of 250,000 Ridgeline common shares within 5 days of TSX Venture Exchange approval; and
- All option payments totaling $650,000 over a five-year period; and
- Completing $500,000 in exploration expenditures before the fifth anniversary of the Agreement
Commercial Terms
Upon closing of the exploration earn-in option agreement, EMX will retain a 3.0% net smelter return ("NSR") royalty on the Project. Ridgeline can reduce the NSR royalty to 2.0% by:
- Completing an initial 0.5% royalty buyback with a payment of $1,500,000 to EMX prior to the third anniversary of the option exercise (year 8); and
- Paying $2,000,000 to EMX anytime thereafter for the remaining 0.5%
Ridgeline will make Annual Advance Royalty payments of $50,000 with payments to cease upon commencement of commercial production.
- Ridgeline will make Project milestone payments (payable in cash or, at the election of the Company, in up to 50% in common shares) consisting of:
- $250,000 upon completion of a Resource Milestone
- $500,000 upon completion of a Pre-Development Milestone; and
- $1,000,000 upon reaching a positive Development Milestone
QA/QC Procedures
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 at AAL and analysed using a photon assay (Au-Ag, 500g) at Paragon. AAL and Paragon also undertake their 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.
The technical information contained in this news release has been prepared under the supervision of, and approved by Michael T. Harp, CPG, the Company's Vice President, Exploration. Mr. Harp is a "qualified person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Project.
Atlas Project
Atlas is a six square kilometer land package located in Eureka County, Nevada, approximately 30 kilometers southwest of the town of Carlin, NV. The property exhibits classic Carlin-Type alteration and gold mineralization within outcropping Pennsylvanian to Permian age carbonate to siliciclastic host rocks. The primary target at Atlas is a bulk tonnage, oxide, Carlin-Type gold system, which is analogous to the nearby Dark Star gold deposit (part of the greater Railroad Mining District), which is currently owned by Orla Mining and advancing towards mine development. The 100% owned Project is comprised of a total of eight square kilometers of highly prospective exploration ground that will benefit from the Ridgeline teams' systematic approach to discovery (view the Ridgeline Corporate Deck HERE).
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200 km2 exploration portfolio across seven projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, 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
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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.
