Ridgestone Mining Establishes Mexican Subsidiary and Commences Exploration at Rebeico Gold-Copper Project
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2018) - Ridgestone Mining Inc. (TSXV: RMI) (the "Company" or "Ridgestone"), is pleased to announce that it has established a 100% owned Mexican subsidiary, Cerro de Oro Minerales S.A. de C.V., to facilitate its mineral exploration and development activities in Mexico.
Initial efforts will focus on the Rebeico Gold and Copper project which the Company has optioned from YQ Gold de Mexico S,A. de C.V. ("YQ Gold") giving it the right to earn a 100% interest, as previously announced.
YQ Gold will be the initial operator of the project given its team's extensive experience and success in mineral exploration in Sonora. The YQ Gold team includes Alfonso Daco, Francisco Navarro and Jonathan George.
Alfonso Daco, BSc. Geology, has worked in the mineral industry for over 45 years and held senior positions with numerous prominent companies. From 1972 to 1992, Mr. Daco was President of Campbell Resources' Mexican subsidiary and his team was credited with the discovery of the La Colorado Gold Mine in Sonora, currently owned and operated by Argonaut Gold, where over two million ounces of gold and eighteen million ounces of silver have been delineated. Mr. Daco and his teams have also been credited with the discoveries of the El Castillo gold mine (over one million ounces of gold) and the Lluvia de Oro/ La Jojoba gold mine (over half a million ounces of gold).
Francisco Navarro, BSc. Geology, has been fully engaged in all facets of mineral exploration, development, acquisitions and negotiations for over 30 years. Mr. Navarro has held numerous executive and managerial positions with foreign and local companies. Mr. Navarro was a key member of the teams that led to the discoveries of La Colorado, Cuatro Hermanos (over one billion pounds of copper and one hundred million pounds of molybdenum), as well as the El Castillo and Lluvia de Oro/ La Jojoba gold mines. Mr. Navarro's deep roots within the Mexican mining community, particularly Sonora, are invaluable to the acquisition, advancement and development of exceptional mineral projects.
Jonathan George, BSc. Geology, has been active in mineral exploration, development and resource capital markets for over 35 years, with extensive experience in Mexico. As the President, CEO and co-founder of Creston Moly Corp., Mr. George was instrumental in the acquisition and development of Mexico's largest molybdenum deposit, resulting in a mineral resource valuation of $560 million, and an ultimate merger with Mercator Minerals worth $178 million.
Erwin Wong, Director and CFO commented, "Given their depth of expertise and familiarity with conducting mineral exploration in Mexico, we are very fortunate to have YQ's team manage our exploration program and are confident that they will be very successful in advancing the promising Rebeico Gold- Copper project."
For further information, please contact:
Ron Birch, Director
Ridgestone Mining Inc.
Telephone: 1-800-910-7711
About the Company
Ridgestone is a TSX Venture Exchange -listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The Company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico Gold-Copper project.
Neither 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.
This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to the preparation of a definitive agreement and the requirement of TSX Venture Exchange approval therefor. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company's Prospectus dated February 9, 2018 available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
