Riverside Resources Provides Update on Questcorp Option Agreement at Union Project, Sonora, Mexico
Riverside Resources Provides Update on
Questcorp Option Agreement at Union Project,
Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) -
Riverside Resources Inc.
(TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company"),
is pleased to provide an
update regarding the option agreement with Questcorp Mining Inc. ("
Questcorp
") on Union Project
announced on May 6, 2025. Questcorp has issued 6,285,722 common shares, representing 9.9% of
Questcorp's issued and outstanding shares as of May 20, 2025, to Riverside. In addition, Questcorp has
completed a cash payment of $25,000 CAD to Riverside. These steps have been undertaken pursuant
to the terms and conditions of the option agreement dated May 5, 2025, among Questcorp, Riverside
Resources Inc., and Riverside's wholly owned Mexican subsidiary, RRM Exploración, S.A.P.I. de C.V., in
respect of the Union project which Riverside has progressed the exploration and property consolidation
over the past few years and now the project is set to move ahead with this partner funding.
Riverside, as operator of Union Project, is advancing the pre-drilling work including organizing the field
team, access and sourcing water that would be needed for drilling later this year.
The Company's
Mexico-based technical team is currently finalizing contractor selection and mobilization for an initial
fieldwork program and then will conduct the pre-drilling, geophysical survey. This will be followed by more
detailed work aimed at refining high-priority drill targets identified during previous fieldwork. Union
Project lies within the productive Sonora carbonate-replacement belt and hosts multiple historical mine
workings, strong surface mineralization, and favorable structural controls, making it highly prospective for
gold-silver-lead-zinc and copper discoveries.
"We are encouraged by Questcorp's progress on the Option of
the Union Project and are pleased to be
executing the next steps in our agreement," stated John-Mark Staude, President and CEO of Riverside
Resources. "Our field team in Sonora is now lining up access, camp logistics and exploration field work
which lays the key groundwork to progress with the geophysical work that will be coming in the near
future.
The upcoming work will focus on integrating surface mapping, geochemical data, and then us
geophysics to sharpen our drill targeting in this promising CRD system."
For further details on option agreement, please refer to the press release of May 6, 2025 on
www.rivres.com
and on
sedarplus.ca
.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Project was reviewed
and approved by Freeman Smith, P.Geo, VP Exploration, a non-independent qualified person to
Riverside Resources Inc., who is responsible for ensuring that the information provided in 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 $4M 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 extensive experience and knowledge
operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective
mineral properties. Riverside has properties available for option, with information available on the
Company's website at
www.rivres.com
.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
Phone:
(778) 327-6671
Fax:
(778) 327-6675
Web:
www.rivres.com
Eric Negraeff
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web:
www.rivres.com
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 risk that the Transaction will not be completed as contemplates, or at all, 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/253013