Riverside shares rally on news of B.C. RRE option agreement

Riverside Resources Inc. [RRI-TSXV, RVSDF-OTCQB, 5YY-FSE] said it has executed an option agreement for its Revel Carbonatite Rare Earth Element Project in British Columbia.

Riverside shares advanced on the news, rising 8.2% or $0.03 to 39.5 cents. The shares trade in a 52-week range of 43 cents and 15.5 cents.

The Revel Project is located 20 kilometres from Seymour Arm within a highly prospective carbonatite belt north of Revelstoke. The project is currently 100% owned by Riverside and previously had no underlying royalties. It covers part of the Grace Carbonatite, which is known to host rare earth element mineralization. Riverside has outlined a 12-kilometre-long carbonatite-style rare earth system at Revel that remains undrilled.

Riverside said it has entered into an option agreement with a private B.C. company. The optionee may acquire a 100% interest in the Revel Project, with Riverside retaining a 3.0% net smelter return royalty if the option is completed. If not, the project returns 100% to Riverside. Under the agreement, the optionee can exercise the option by making a cash payment of $450,000 and spending $2.2 million on exploration within five years.

Once the option is exercised, the optionee will grant Riverside a 3.0% net smelter return royalty on all commercial production from the project. However, the agreement provides the optionee with two buy-down rights. The first entitles it to purchase 0.5% of the NSR for US$1.0 million at any time prior to 2033, reducing the royalty to 2.5%. The second right, exercisable only if the first right has been executed, entitles the optionee to purchase an additional 1.0% of the NSR for US$2.0 million at any time before January 1, 2035, thus reducing the royalty to 1.5%.

Riverside’s exploration team will continue to provide technical input and oversight on the Revel Project during the option period, with the optionee funding programs designed to advance the project towards drill testing of the carbonatite-style rare earth system. The next work will likely be airborne geophysics and field exploration work with the funding partner providing capital for these efforts.

Riverside is a well-funded exploration company holding a portfolio of gold-silver and copper, and REE assets and royalties in North America.

In a press release on July 30, 2026, the company said it had received mineral title for expanded property packages at its Revel and Red Jacket properties. The Red Jacket project, also located in southern B.C., is a volcanogenic massive sulphide system similar to the Yellowhead deposit in the Eagle Bay Formation.  The project is north of Trekor Metals Ltd’s [TKO-TSX, TGB-NYSE] American, TKO-LSE] feasibility-stage Yellowhead copper project, which hosts a large copper-zinc-silver-gold reserve and is considered a potential near-term future mine.