RES OURGES INC
— RIVERSIDE
Suite 550 — 800 West Pender Street, Vancouver, BC, V6C 2V6 Tel: (778) 327-6671 TSX-V: RRI PRESS RELEASE OTCQB: RVSDF
Frankfurt: SYY0
RIVERSIDE RESOURCES EXECUTES OPTION AGREEMENT FOR THE REVEL
CARBONATITE RARE EARTH ELEMENT PROJECT, BRITISH COLUMBIA
August 24, 2026 — Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (FSE: SYY0), is pleased to announce that it has entered into an option agreement (the “Option Agreement”) with 1575540 B.C. Ltd., a private British Columbia company (the “Optionee”), pursuant to which the Optionee may acquire a 100% interest in Riverside’s Revel carbonatite rare earth element (REE) project located approximately 20 kilometres from the community of Seymour Arm, north of Revelstoke, in southeastern British Columbia (the “Revel Project” or the “Project”) with Riverside retaining a 3% NSR if the option is completed and if not the project returns 100% to Riverside.
“Securing this option agreement for Revel is an excellent step forward for Riverside’s REE portfolio and we can immediately move forward with a high resolution geophysical survey of the project with partner funding to refine and expand the targets,” said John-Mark Staude, President and CEO of Riverside Resources. “The agreement brings dedicated funding to advance the 12kilometre-long Revel carbonatite REE system while allowing our team to remain involved in the program and building value across our broader portfolio of British Columbia and Mexico projects. By retaining a 3% NSR, Riverside preserves meaningful long-term exposure to the discovery and development potential of the Revel Project.”
Terms of the Option Agreement
Under the terms of the Option Agreement, the Optionee may acquire a 100% interest in the Revel Project by making aggregate cash payments to Riverside totalling $450,000 and incurring aggregate exploration expenditures on the Project totalling up to $2,200,000 in each case in accordance with the milestone schedule set out below and over a 5-year option period commencing on February 18, 2026 as the effective date of the Option Agreement.
Milestone Cash Payments and Exploration Expenditures
Milestone Cash Payments to Riverside | Exploration Spend Required
Signing Option Agreement $40,000 N/A
Milestone Cash Payments to Riverside | Exploration Spend Required
On or before the 1st Anniversary of
(1) the Effective Date $60,000 $150,000 On or before the 2nd Anniversary of the Effective Date $50,000 $350,000 On or before the 3rd Anniversary of the Effective Date $50,000 $500,000 On or before the 4th Anniversary of $100,000 $1,200,000 or the Effective Date , $1,000,000 On or before the 5th Anniversary of the Effective Date $150,000 N/A Total $450,000 Up to $2,200,000
- 1. Paid $40,000 Signing Option and has Firm Commitment of $150,000 minimum exploration spending in 1*
year.
- 2. An additional $1,200,000 of Exploration Expenditures (for an aggregate of $2,200,000 in Exploration Expenditures) on or before the 4th anniversary of this Agreement in the event the price of Au is greater than $6,000 per ounce on January 1, 2029 OR an additional $1,000,000 (for an aggregate of $2,000,000 in Exploration Expenditures) in the event the price of Au is less than $6,000 per ounce on January 1, 2029.
Upon exercise of the option and acquisition of a 100% interest in the Revel Project, the Optionee will grant to Riverside a 3% net smelter returns royalty on all commercial production from the Project on the terms set out in the NSR Royalty Agreement entered into concurrently with the Option Agreement (the “Royalty Agreement”). The Royalty Agreement provides the Optionee with two buy-down rights: (i) a first right to purchase 0.5% of the NSR for US$1,000,000 at any time prior to January 1, 2033, reducing the royalty to 2.5%; and (ii) a second right, exercisable only if the first buy-down has been exercised, to purchase an additional 1.0% of the NSR for US$2,000,000 at any time prior to January 1, 2035, 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 toward drill testing of the carbonatite-style rare earth system.
About the Revel Project
The Revel Project is located approximately 20 kilometres from the community of Seymour Arm and north of Revelstoke, British Columbia, within a highly prospective carbonatite belt. The Project covers part of the Mount Grace Carbonatite, which is known to host rare earth element mineralization, and Riverside has outlined a 12-kilometre-long carbonatite-style rare earth system at Revel that remains undrilled.
The Revel claims are located on the northeast margin of the Frenchman Cap Gneiss Dome, comprising part of the Shuswap Metamorphic Terrain. The core gneisses are overlain by