Riverside Resources expands Ariel Copper Project, Mexico

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Riverside Resources Inc. [TSXV-RRI; OTCQB-RVSDF; FSE-5YY] reported that it has completed acquisition and title transfer of the Maria Luisa Copper Property immediately north of the company’s Ariel Property, thus consolidating another 30% and direct drill target for the full Ariel project, Sonora, Mexico.

With this acquisition Riverside has now fully consolidated the highly prospective Laramide-age porphyry Cu-(Au, Mo) district and now controls an area of 16 km2. The Ariel project has had mineral exploration by Riverside including mapping, sampling, geochemistry, mineral chemistry, remote sensing, geophysical interpretations and is fully permitted for drilling. It represents a turnkey, undrilled, high quality drill target 18 kms immediately east and within sight of Mexico’s second largest copper mine, the La Caridad Copper Mining Complex, operated for the past 40 years by Grupo Mexico Mining.

The Ariel project is now consolidated into five concessions that in total cover an area of 1,640 hectares (16 km2).

The transaction to acquire the Maria Luisa Copper Property was finalized this quarter and has now been officially registered with the Mexican Direction of Mines and titles transferred to Riverside. The title registration was completed in May 2024 under Riverside SAPI, the company based in Mexico as now the full title holder of the Maria Luisa concessions.

Riverside resolved outstanding tax issues for the previously private owner, completed required filings and then reimbursed the property owner minus those costs with a total payment of USD$200,000 with no royalty or retained interest, giving Riverside 100% control.

All concessions are now in good standing with data available. The company also updated the drill permitting to cover both the Maria Luisa and Ariel drill targets with drill permit in hand which sets up Riverside for a strong H2 2024 for this property.

Dr. John-Mark Staud, President and CEO, stated: “We are delighted to consolidate Maria Luisa into the larger Ariel project as this has been a goal for several years and was able to be completed on highly favorable terms for Riverside. This now provides the opportunity to move forward with drilling at both Ariel and Maria Luisa. Riverside will look to partner this large, fully titled, easily accessible and proximal to La Caridad copper mine location. We appreciate the excellent work of the Riverside local Mexico exploration team who worked with lawyers and private owners to complete this for the benefit of all stakeholders.”

The Ariel Project is strategically located within sight of the world-class La Caridad Cu-Mo porphyry mine operation (~10 Mt of Cu metal reserves), and 24 km SE of the Los Alisos Cu porphyry prospect. The property has seen relatively little if any drill testing and has extensive exposed and under shallow post-mineral cover targets. The project, originally staked by Riverside in late 2015 and then titled in 2016, was developed out of a strong reconnaissance regional prospecting program in the area when Riverside was working in partnership with Antofagasta Mining. Access to the property is good being less than 30 km on dirt roads from paved highways, some of which are used for servicing the nearby La Caridad mine and mill complex operated by Grupo Mexico Mining.

The Ariel project’s exploration results have included high-grade copper findings and strong geochemical vectors. Positive field exploration, along with the integration of regional geophysics, has led to the definition of two high-quality target areas: Ariel and Maria Luisa.

Extensive rock samples have been geochemically analyzed using certified assay laboratory and a portable X-ray fluorescence instrument as well as a mineral analyzer that employs near infra-red spectrometry to identify minerals typically formed by hydrothermal processes.

Riverside welcomes Bryan Wilson join the board of directors. He was elected at the Annual Shareholders Meeting on May 10, 2024. Mr. Wilson brings extensive knowledge of mineral exploration and mining, having recently worked in Mexico, as CEO for Angel Wing Metals Inc. and previously Director of Exploration Business Development with Centerra Gold at the Toronto corporate headquarters. Mr. Wilson has been a technical advisor to Riverside and now moves into the role as Director.

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 properties available for option.

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