Ridgeline Minerals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Ridgeline is a Western US focused Gold-Silver explorer with a portfolio of five highly prospective exploration projects in Nevada and Idaho and a partnership with Nevada Gold Mines (NGM).

World Class Location

• Nevada & Idaho – 163 sq. km exploration portfolio in two of the top ranked mining jurisdictions in the world

Carbonate Replacement Deposit (CRD) Discovery

• 100% owned Selena silver-gold-lead-zinc discovery with significant growth potential

US$30M NGM Earn-In

• Nevada Gold Mines earn-in agreement at the Swift project highlights Tier-1 discovery potential

Strategic Holdings

• Bell Creek and Carlin-East projects strategically positioned adjacent to high-grade NGM resources

Proven Track Record

• Team responsible for 50+ Moz of global gold discoveries over the past 30 years

Shareholder Friendly Structure

• Tight share float with 13% management ownership

Projects in Hand

Selena Project, White Pine County, Nevada

The 100%-owned Selena project is located in the historic Limousine Butte mining district in Nevada, 25km southeast of Bald Mountain Mine (Kinross). The Project shares a property boundary with the Butte Valley project, a $33-million (U.S.) earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The Project comprises 39 square kilometres of highly prospective exploration ground including, Ridgeline's shallow-oxide 2020 Ag-Au-plus-or-minus-Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade Carbonate replacement deposit (CRD) type mineralization (Ag-Au-Pb-Zn-plus-or-minus-copper) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property.

High-Grade

• Juniper Zone
• 1.0m @ 2,467.2 g/t Ag, 5.1 g/t Au, 1.1% Pb, 1.4% Zn within 7.7m @ 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9% Zn in LB-072
• Chinchilla Zone
• 4.6m @ 421 g/t Ag, 0.6 g/t Au, 4.4% Pb, 3.7% Zn in SE21-024

Opportunity

• Ridgeline exploration to-date suggests Selena has the potential scale and grade to host a large Ag-Au-Pb-Zn Carbonate Replacement Deposit (CRD)
• Drilling to-date supports a potential mix of open-pit and underground targets across multiple deposit types
• Potential analogues include the Cinco De Mayo (Mag Silver) and Hermosa-Taylor (South32) deposits

Deposit Zonation

• Selena exhibits classic CRD zonation over ~8km of strike between the Butte Valley Porphyry and the Broken Egg target
• 3 drill-confirmed deposit types across 5 mineralized zones

Highlight Drill Intercepts by Target

• Chinchilla Target
• 4.6m @ 421.0 g/t Ag, 0.6 g/t Au, 4.4% Pb, 3.7% Zn (SE21-024)
• 44.2m @ 123.2 g/t Ag. 0.1 g/t Au, 1.5% Pb, 0.6% Zn (SE21-025)
• Juniper Target
• 1.0m @ 2,467.2 g/t Ag, 5.1 g/t Au, 1.1% Pb, 1.4% Zn within 7.7m @ 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9% Zn (LB-072)
• 1.0m @ 1,195.2 g/t Ag, 3.0 g/t Au, 0.2% Pb, 0.1% Zn (LB-070)
• CRD Target
• 3.0m @ 40.2 g/t Ag, 3.0 g/t Au, 0.2% Pb, 6.8% Zn (SE22-037)
• Revival Target
• 3.0m @ 0.3 g/t Au (LIM-69, gold assays only)
• Broken Egg Target
• 0.9m @ 2.4 g/t Au (SEBP-001, backpack drill hole)

2022 Exploration Program

• Q2 2022
• CRD Target confirmed with both holes (SE22-037 & 038)
• Q3 2022
• Backpack drilling at Juniper, Broken Egg & Revival
• Permitting and drill pad construction
• Q4 2022 Diamond core drill program – commenced in October. The drill program will complete up to 10 shallow core holes (approximately 1,800 metres), target shallow, high-grade Ag-Au at the Juniper, Broken Egg and Chinchilla targets
• 200 acre Plan of Operations (BLM) drill permit pending (Q2, 2023) at Chinchilla, CRD & Juniper
• Plan of operations will allow Company to begin delineating a maiden resource

Swift Project, Lander County, Nevada

• Swift is a 75 sq. km Carlin-Type gold exploration project on the Cortez Trend. Approximately 7km NW of the Nevada Gold Mines owned Cortez Complex
• US$30M earn-in agreement signed with Nevada Gold Mines (NGM) (See press release dated September 22, 2021)
• Ridgeline retains a fully-carried 25% interest to mine production if all agreement milestones are triggered
• NGM targeting a 5+ Moz high grade Au deposit. Earn-in validates Tier-1 discovery potential
• Phase II Framework program commenced August 2022

Bell Creek Project, Nevada

• Bell Creek is a 5 sq. km Carlin-Type Au ± Ag exploration project situated west of Ridgeline’s Carlin-East Project on the prolific North Carlin Trend
• Lease with option to purchase 100% of the private mineral rights
• Shared property boundary with the NGM owned Ren deposit resource boundary
• Potential for extension of Ren Deposit (NGM) to extend onto Bell Creek
• Assess potential for strategic exploration partnerships to advance project

Carlin-East Project, Nevada

• Carlin-East is a 100%-owned 35 sq. km Carlin-Type Au ± Ag exploration project located within the prolific Carlin Trend.
• Significant discovery potential. Carlin-East is the largest land position on the North Carlin Trend not owned by NGM
• Assess potential for strategic exploration partnerships to advance project

Robber Gulch Project, Cassia County, Idaho

• Robber Gulch is a 9 sq. km drill-ready, shallow-oxide, Carlin-Type open-pit Au exploration project, in a rapidly emerging gold district in southern Idaho.
• 32km southeast of Burley, Idaho and 88km northwest of Liberty Gold’s Black Pine Deposit (3.0+ Moz Au)
• Ridgeline acquired the project in January, 2022 and inherited a comprehensive geologic database including over 2,000 surface soil samples, 264 rock chips, and 19 drillholes totaling 3,187m.
• Highlight historical drill intercepts include: 12.2m @ 0.90 g/t Au within 57.9m @ 0.34 g/t Au of near-surface oxide gold in hole AC-4
• Proven shallow-oxide gold system at Robber Gulch exhibits significant discovery potential
• Opportunity: Discover a 1 Moz.+ shallow oxide gold deposit
• Q4 backpack drilling, mapping and prospecting to refine targets for 2023 maiden drill campaign

Management

Management, Directors and Advisors

Chad Peters, B.Sc., P.Geo., President, CEO & Director

15 years of exploration and production experience

Co-founded Ridgeline in 2018, former exploration manager for Premier Gold Mines team credited with 10+ Moz of gold discoveries in Canada and the US.

Duane Lo, CPA, CA, CFO & Director

Over 20 years of international accounting & financial management experience for various public companies

Current CFO of Entrée Resources

Mike Harp, M.Sc., CPG, Vice President, Exploration

Led multi-million-ounce North Dark Star discovery with Gold Standard Ventures

Over 10 years exploration experience in Nevada.

Peter Hardie, CPA, CA, Independent Director

Over 20 years of International accounting, financial management and mine development experience. Current CFO of Equinox Gold.

Lewis Teal, Independent Director

Over 35 years of global exploration experience with Newmont including the discovery of 20+ Moz. of gold.

Michael Blady, Independent Director

Over 10 years as senior management of multiple public resource companies with extensive capital markets background. Current CEO of Golden Ridge Resources.

Geoff Chater, Strategic Advisor

Mac Jackson, Technical Advisor

News Update

On October 12, 2023, Ridgeline Minerals Corp. has released results from the first two core holes of its proposed five-hole, 3,000-metre drill program at the Selena project, Nevada. Results from the Upper Chinchilla zone returned continuous intercepts of shallow-oxide, silver-lead-zinc-gold containing high grade, including intervals that are consistent with nearby reverse circulation (RC) holes. Notably, deeper drilling beneath the Upper Chinchilla zone in hole SE23-048 also intersected localized antimony-rich breccia intervals averaging 1 to 2 per cent Sb, which are the first of its kind at Selena.

Chad Peters, Ridgeline's president and chief executive officer, commented: "This year's drill program has two primary objectives. The first is to upgrade previously drilled, shallow-oxide RC intercepts in the Upper Chinchilla zone, and the second is to make a high-grade CRD discovery at depth. Hole 47, drilled between 2021 RC holes 13 and 14, materially upgrading both the thickness and overall grade of both holes, which includes a significant oxide gold component. This zone is shallow and projects up dip through hole 48 to surface and is open for expansion. These intercepts confirm our belief that there is significant potential to delineate a shallow-oxide resource at Chinchilla that may be amenable to low-cost heap-leach processing methods."

Mr. Peters continues: "The highest-priority holes of the program are holes 49 and 50, which are in progress and will drill to depths of 700 metres or more to test for stacked zones of CRD mineralization beneath the Upper Chinchilla zone. These holes are targeting both sides of the known chimney structure that is believed to be a primary feeder to the Upper Chinchilla zone, which returned bonanza-grade CRD intercepts in our 2022 program."

On September 12, 2023, Ridgeline Minerals Corp. has provided an update on the company's continuing drill program at the Selena project, Nevada. Selena is host to a silver (Ag) -- gold (Au) -- lead (Pb) -- zinc (Zn) carbonate replacement (CRD) style discovery located in White Pine county, Nevada. The objective of the 3,000-metre (m) core program is to both infill the high-grade upper Chinchilla zone (see July 24, 2023, press release), as well as to test beneath the Chinchilla zone for stacked sulphide horizons at depth. A summary of drilling progress is highlighted herein. Drill program summary:

• Drill hole SE23-046 was lost due to difficult drilling conditions at 126.8 m downhole with the bottom 7.3 m of the hole intersecting strongly brecciated and oxidized mineralization consistent with the top of the Chinchilla zone.
• Assays of the truncated upper zone returned 7.3 m grading 64.2 grams per tonne (g/t) Ag, 0.8 per cent Pb, 2.9 per cent Zn and 0.1 g/t Au or;
• 7.3 m grading 221.20 g/t silver equivalent (AgEq).
• (Assumed metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1,800 Au, no recovery factory applied.)
• Drill hole SE23-047 re-drilled SE22-046 to a depth of 200.1 m and intersected the same upper Chinchilla oxide horizon over a 50 m plus thick intercept (assays pending).
• The thickness of the altered and mineralized zone in SE23-047 is consistent with nearby reverse circulation drilling in holes SE21-013 and SE21-14.
• Drill hole SE23-048 is in progress and will be drilled to depths of 400 to 500 m to test for deeper sulphide horizons within the historically untested lower Guilmette limestone.
• The core program is tracking on-budget but running behind the originally proposed schedule due to mechanical delays associated with the drill rig, which have now been resolved.

On September 06,2023, Ridgeline Minerals Corp. has staked an additional 141 Bureau of Land Management (BLM) lode claims (2,913 acres) at the Big Blue project in Elko county, Nevada. Big Blue now comprises 502 contiguous lode claims totaling 10,168 acres or 41 square kilometers ("km") , and is 100% owned by the Company with no underlying work commitments or royalty obligations. The property includes the past producing Delker Mine and Skarn Hill Adit, which collectively produced a reported 94,434 pounds of copper ("Cu") at an average grade of 6.2% Cu between 1916-19171 (Figure 1). The Project has not seen a sustained exploration effort in decades and exhibits excellent potential to make new porphyry copper and Carbonate Replacement ("CRD") style polymetallic discoveries.

The property expansion followed the Company's recently announced acquisition of an extensive historical database for Big Bluesee (August 24, 2023 press release HERE), which has highlighted additional geophysical targets located to the northwest of the original claim block. This kilometer-scale target exhibits overlapping gravity and magnetic geophysics anomalies and is interpreted as a potential porphyry signature that may be the deeper source to the known Cu-skarn mineralization outcropping at the historical Delker Mine (Figure 2). As a result, Ridgeline staked all open and locatable claims surrounding the porphyry target and will continue advancing Big Blue towards a maiden drill program in 2024.

On August 10, 2023, Ridgeline Minerals Corp. has noted that Nevada Gold Mines LLC (NGM), a joint venture between Barrick Gold and Newmont Corp., has mobilized a drill rig to the Swift gold project located in the Cortez district of the Battle Mountain-Eureka mine trend. Ridgeline entered into an exploration earn-in agreement with NGM on Sept. 22, 2021, where NGM can incur a minimum of $20-million (U.S.) (of which $5-million (U.S.) has been spent to date) in qualifying work expenditures over an initial five-year term to earn an initial 60-per-cent interest in Swift, and will have further options to increase its interest to a total 75-per-cent interest. Details of the proposed drill program are highlighted herein. Drill program highlights:

• Drill hole SW23-005 will target the intersection of proposed low-angle structures and favourable lower plate carbonate host rocks of the Wenban and Roberts mountains formations.
• Drill hole will provide key lithostructural information between historical drill intercepts in hole MCK-99-5A (18.3 metres (m) grading 0.64 gram per tonne (g/t) gold (Au)) and 2022 NGM drill intercepts in SW22-002 (41.9 m grading 0.26 g/t Au) and SW22-003 (48.8 m grading 0.45 g/t Au).
• Drill hole SW22-004 will be extended from a starting depth of 1,104 m where the hole was previously halted by NGM in January, 2023, due to severe winter weather conditions.
• Drilling returned up to 3.0 m grading 2.27 g/t Au in upper plate rocks prior to intersecting lower plate host rocks at 1,065 m.
• Hole will be extended through prospective host rocks to an anticipated depth of 1,500-plus metres.

On July 24, 2023, Ridgeline Minerals Corp. has begun its diamond core drill program at the Selena project. Selena is host to a silver-gold-lead-zinc carbonate-replacement-style discovery located in White Pine county, Nevada.

The drill program has been designed to follow up on bonanza-grade CRD intercepts drilled at the Chinchilla zone in 2022, with highlights including 6.1 metres grading 480 grams per tonne Ag, 12.0 per cent Pb, 6.4 per cent Zn and 0.1 g/t Au in SE22-045 and 0.5 m grading 1,793 g/t Ag, 2.2 per cent tungsten and 0.5 per cent copper in SE22-039 (see Jan. 24, 2023, press release). The program will complete up to six core holes for a total of 3,000 m, with results to be released as they are received.

On July 17, 2023, Ridgeline Minerals Corp. has entered into a transaction with Nevada Gold Mines LLC (NGM), a joint venture between Barrick Gold and Newmont Corp., pursuant to which NGM can acquire an interest in Ridgeline's Carlin-East gold project, a 19.5-square-kilometre land package located directly on trend of NGM's Fallon discovery (previously North Leeville) to the north of the Leeville mine in the prolific Carlin trend mining district of Nevada. NGM can incur a minimum of US$4.5 million (of which US$1.5 million is guaranteed) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in Carlin-East and will have further options to increase its interest to a total 75% interest as outlined below. NGM will assume operatorship of the project immediately.

On June 19, 2023, Ridgeline Minerals Corp. has released bonanza-grade copper samples returning up to 15.5 per cent from surface trenching at the Big Blue project, a porphyry/skarn copper-gold-silver exploration prospect located directly adjacent to Reyna Silver's Medicine Springs CRD (carbonate replacement deposit) discovery in Elko county, Nevada. Ridgeline geologists collected 18 continuous trench samples at two trench locations and 14 surface rock chip samples in May, 2023. Trench sampling confirmed historically reported mine grades (see Feb. 9, 2023, press release) at the past-producing Delker mine while wide-spaced reconnaissance rock chip sampling effectively doubled the mineralized footprint of the known system. It trenches 2.4 m of 4.6% Cu at Big Blue.

On June 01, 2023, Ridgeline Minerals Corp. has provided an update on the company's 2023 exploration programs and corporate strategy across its portfolio of six projects in Nevada and Idaho totalling 192 square kilometres. The company intends to spend $2-million on direct drilling and exploration costs through the remainder of the year with the proposed capital allocation detailed below.

Mike Harp, Ridgeline's vice-president, exploration, commented: "We anticipate multiple catalysts across the Ridgeline portfolio this year, including a third phase of fully funded drilling at the Swift project by our earn-in partners, Nevada Gold Mines. However, our team's focus will be the continued delineation and expansion of the high-grade Chinchilla zone at our 100-per-cent-owned Selena project. Last fall, our first diamond core program at Selena returned the best drill intercepts in the company's exploration history and significantly upgraded all metal values when compared to previously drilled RC holes nearby. This not only represents an opportunity to upgrade the existing mineralized footprint at Chinchilla, but also improved our understanding of the orientation of key feeder faults controlling chimney-style CRD mineralization. Our next phase of core drilling will commence in July, where we will expand the known upper oxide horizon as well as test these mineralized feeder faults at depth where they crosscut more than 400 metres of untested and highly prospective carbonate host rocks."

On May 24, 2023, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 5, 2023.

Number of shares: 22,535,000 shares

Purchase price: 20 cents per share

Warrants: 11,267,500 share purchase warrants to purchase 11,267,500 shares

Warrant exercise price: 30 cents for a two-year period

Number of placees: 126 placees

Total existing insider involvement: 100,000 (three insiders)

Total pro group involvement: 650,000 (four pro groups)

Finder's fee: $240,957.50

On April 27, 2023, Ridgeline Minerals Corp., further to its news release on April 5, 2023, has closed its oversubscribed, non-brokered private placement to issue 22,535,000 units of the company, at a price of 20 cents per unit, for aggregate gross proceeds of $4,507,000. The proceeds from the sale of the private placement will be used to fund exploration activities at the Company's Nevada and Idaho projects and for general working capital.

On April 05, 2023, Ridgeline Minerals Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $2-million through the sale of up to 10 million units at the price of 20 cents per unit. Each unit consists of one common share of the company and one-half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at a price of 30 cents for a period of 24 months from the date of issue.

The proceeds from the sale of the private placement will be used to finance exploration activities at the company's Nevada and Idaho projects and for general working capital.

On March 06, 2023, Ridgeline Minerals Corp. has provided a summary of all assay results for the remaining six unreported drill holes from the 2022 fall drill program at the Selena project, located in White Pine county, Nevada.

Highlight results from the Chinchilla Target include SE22-039A which returned 1.5 meters ("m") grading 581.0 grams per tonne ("g/t") silver ("Ag"), 0.2% zinc ("Zn"), and 2.0% Tungsten ("W") starting at 244 m downhole (Figure 1). Hole SE22-039A was an 11.7 m long wedge that was attempted off the original parent drill hole SE22-039, which was also lost in a fault zone in high-grade Ag-W mineralization at 279 m downhole (see January 24, 2023 press release HERE). The two intercepts now confirm over 30 m of vertical continuity within a structurally controlled zone of high-grade silver-tungsten mineralization hosted within Quartz-Feldspar Porphyry ("QFP") dikes. Mineralization hosted within QFP dikes is atypical of the Ag-Au-Pb-Zn Carbonate Replacement ("CRD") mineralization discovered at Selena to-date and may indicate a primary "feeder" fault has been intersected at the Chinchilla zone. Additional follow-up drilling is required in 2023 to confirm this theory.

On February 16, 2023, Ridgeline Minerals Corp. has provided a summary of assay results for the 2022 drill program at the Swift project, located in the Cortez mining district of the Battle Mountain-Eureka trend, Nevada. The project is operated by Nevada Gold Mines (NGM) under an exploration earn-in agreement executed in September, 2021, with NGM holding an option to spend $20-million (U.S.) in qualifying expenditures over five years to earn an initial 60-per-cent stake in the project. NGM has spent a total of $4.9-million (U.S.) on the project to date and has now satisfied the minimum guaranteed work commitment of $4-million (U.S.) ahead of the scheduled deadline of Dec. 31, 2023.

Three wide-spaced (approximately one kilometre) framework core holes were completed by NGM between September, 2022, and January, 2023, for a total of 3,278 metres. Drill holes SW22-002 and SW22-003 intersected lower plate carbonate host rocks between 570 and 830 m depth with widespread intervals of Carlin-type alteration and anomalous gold mineralization intersected in both holes with individual samples grading up to 2.72 grams per tonne Au. Highlight intercepts include 37.2 m grading 0.29 g/t Au, 2.6 g/t Ag in SW22-002 and 48.8 m grading 0.45 g/t Au, 0.98 g/t Ag in SW22-003. Core hole SW22-004 intersected lower plate host rocks at 1,065 m and was drilled to a depth of 1,104 m before being halted in January, 2023, due to severe winter weather conditions. The hole was left cased and ready for potential re-entry at a later date in 2023.

On February 09, 2023, Ridgeline Minerals Corp. has staked the Big Blue project, a high-grade porphyry copper-gold-silver exploration prospect in Elko county, Nevada. The company acquired Big Blue via low-cost staking of 361 lode claims totaling 7,255 acres (29 square kilometers). The Project is 100% owned by the Company and retains no underlying lease payments, work commitments or royalty obligations.

On January 24, 2023, Ridgeline Minerals Corp. has released high-grade silver-lead-zinc-gold intercepts with localized tungsten mineralization from the Chinchilla zone at the Selena project, Nevada.

Highlight intercepts from two diamond core holes at the Chinchilla zone include high-grade zones of 6.1 metres grading 480 grams per tonne Ag, 12 per cent Pb, 6.4 per cent Zn and 0.1 g/t Au in SE22-045 and 0.5 m grading 1,793 g/t Ag and 2.2 per cent W in SE22-039. Both intercepts are hosted within 30 to 50 m wide zones of strongly oxidized carbonate replacement-style (CRD) alteration and mineralization. A total of seven core holes were completed during the fall 2022 drill program with assays pending on the remaining five holes, which are located at the Juniper and Broken Egg targets.

On December 14, 2022, Ridgeline Minerals Corp. has provided an update on continuing drill programs and exploration activities at the company's Selena and Swift projects in Nevada with a summary of drill program highlights below.

Chad Peters, Ridgeline's president, chief executive officer and director, commented: "We are excited to see two Ridgeline projects being drilled this fall, with exploration expenditures at Swift fully funded by our partners at Nevada Gold Mines. Drilling at both Selena and Swift will be complete before the end of the year, and we look forward to releasing assay results as they become available in 2023."

Swift project - Nevada Gold Mines (Swift project operators) has completed two of three deep (1,000-plus metres each) core holes as part of its 2022 framework drill program. The third core hole is in progress with an anticipated completion date before the end of 2022:

• Barrick Gold (61.5-per-cent shareholder in the Nevada Gold Mines joint venture) highlighted "significant alteration and anomalous gold" at the Swift project in its Nov. 18, 2022, investor day presentation.
• All assays are currently pending with results expected in the first quarter of 2023.

Selena project - The company has completed six of seven holes to date, with an anticipated completion date on or before Dec. 16, 2022.

On October 18, 2022, Ridgeline Minerals Corp. announced the commencement of the Company’s diamond core drill program at the Selena project in Nevada. The drill program will complete up to 10 shallow core holes (approximately 1,800 metres) across the Chinchilla, Juniper and Broken Egg targets.

On September 29, 2022, Ridgeline Minerals Corp. announced that it has closed its previously announced financing (see news releases of Sept. 9, 2022, and Sept. 27, 2022) and issued 12,732,500 units of the Company at a price of 20 cents per unit for gross proceeds of $2,546,500.

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