Riverside Resources Corporate Outlook for 2022
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to provide an outlook on the upcoming 2022 year's catalysts and some of the Company's achievements and milestones in 2021. Riverside continues to progress its Project Generator business model through staking quality prospects, working with partners, finding undervalued acquisitions, and advancing some of its main assets and retaining royalties on all its projects. Moving into 2022, the company will be very active on self-funding programs including having a cash position of over $5M and with partners such as BHP (one of the world's largest mining companies) and junior partners like Carlyle Commodities and Southern Empire for mineral exploration in Sonora, Mexico.
In 2022, Riverside expects to generate strong news flow from the following key projects and partnerships:
- La Union Project, Sonora - Riverside working diligently to follow up high grade gold, silver and base metals with big potential discoveries targeted on the horizon;
- While advancing its 100%-owned, La Union Project, Riverside's technical team is seeing strong potential moving forward. Results from January 2022 have demonstrated presence of up 84 g/t Au and >1500 g/t Ag in rock chip samples (see press release January 5, 2022);
- The Oakes Project, Ontario - Riverside is progressing its IP interpretation and moving towards a self-funded drilling program for top potential targets in Q1 / 2022;
- All internal data and evidence of high-grade mineralization presented in strong anomalous IP results, are leading the way for Riverside to take the next stage of drilling for its Canadian flagship project in 2022;
- BHP Partnership, Sonora - Riverside has additional deals in the works, which are expected to close and be announced early this year. The company is also progressing on 3 funded programs with spending of over $3M in the first 6 months of 2022.
- Copper exploration alliance on selected and defined projects, finalizing third party acquisitions, and advance work toward drilling;
- Working to develop a new exploration partnership with a major mining company.
- Acquire new mineral districts with past production, extensive exploration upside and company making potential.
- Complete further drilling as part of the Carlyle partnership on the Cecilia project, which could define a possible mineralized body at depth around the Cerro Magallanes main dome.
- Progress the Cuarentas Gold Project in Sonora with further drilling, and potentially test the porphyry copper center while expanding on the 2021 drill program.
- Complete further farm out option deals from the Riverside portfolio such as Suaqui Grande, Suaqui Verde, High Lake and others.
- Riverside plans to progress the Longrose and Pichette properties located in the Geraldton Greenstone Belt, Ontario with exploration and likely partnerships.
- Porphyry Copper portfolio project, Ariel in Sonora - work with partner to drill test the porphyry copper targets.
These upcoming catalysts are summarized in the video link here:
As a brief recap of progress during 2021: Riverside started strong with multiple high-grade drill intercepts and one in particular of 25 m at 1.51 g/t Au at the Cecilia project, currently under the option agreement with Carlyle Commodities. The drill program with Carlyle was followed by additional funding from the exploration alliance with BHP where Riverside received US$3.5M for its copper project generation activities in Sonora. This investment has brought new and multiple opportunities for the BHP-Riverside selected projects, including third party acquisitions with additional funding towards geophysics and more detailed work with Riverside as the operator. After close to 3 years of partnership, BHP and Riverside are entering into more defined programs for the selected projects of interest, and specific findings that could trigger drilling in the near future. This progression is in line with the expected milestones and timelines that were laid out when Riverside first entered into this agreement with BHP.
This partnership with BHP is valuable to Riverside, as it opens up the possibility of making significant discoveries through accessing the major companies full carry of funding costs while seeking large new copper finds. In 2022 the partnership between BHP and Riverside is focused on more defined and detailed exploration, and therefore further advances the possibility for new large copper porphyry discoveries. With size and scale being the primary determinant of the viability and longevity of a mining operation, such a discovery would certainly be a game changer and more than five programs have now been generated with more coming in H1/2022.
As Riverside entered the second half of 2021, the company began exploring the Union project, a property that has been part of Riverside's portfolio in Sonora, Mexico. Consolidation and acquisition of the strategic claims for this project was set as a near-term goal that Riverside achieved. The company is now moving forward with a better understanding of the mineralized system and potential high grade gold and silver found at surface near the old workings at La Union district.
In Canada, Riverside increased its activity across its portfolio in 2021, including sale of the High Lake Greenstone Project and recovery of the Geraldton Greenstone Belt project portfolio including the high priority and drill-ready Oakes Gold project 20 kms east of the Hard Rock Gold Mine construction of Equinox Gold which will exceed 400,000 ounces gold per year production.
Equally important for Riverside has been the fact that it has managed and advanced this portfolio of assets in two countries with a tight share of only 71M shares outstanding and no warrants. This is in keeping with Riverside's philosophy of ensuring that capital intensive exploration should be done with a focus on creating the up most shareholder return while optimising a shared risk.
The company is now poised for strong upward movement with its quality assets as summarized on the website, particularly with the upcoming 2022 catalysts as outlined below:
Riverside's President and CEO, John-Mark Staude, stated: "We are excited by the good targets in Mexico and Canada and the strong team of people including our financing partners as we move ahead for an active first quarter of 2022 and throughout this coming year. Having strong treasury of over $5M with no warrants and no debt, Riverside has an excellent balance sheet as well as an ambitious technical outlook."
Riverside Resources Inc. will be exhibiting in person at the AME Roundup Project Generators Hub from January 31 to February 3 and the PDAC in person event (March 7-9) and virtual show from March 8-11. Make sure to stop by our in person or virtual booths for both conferences and a detailed update on the Company's plans for the year ahead. Contact the company about this information if you are not able to attend the conference virtually through our contact information below.
AME Roundup | January 31st to February 3rd (In-Person and Virtual Event)
PDAC 2020 Virtual Convention | March 7th to 9th (In-Person)
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 geologic information provided 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 72M 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.
Dr. John-Mark Staude, President & CEO
For additional information contact:
Riverside Resources Inc.
Phone: (778) 327-6671
Fax: (778) 327-6675
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
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/109817