Golden Ridge Drills 319 Meters of 0.42g/t Au 0.34% Cu and 2.20 g/t Ag (0.96 g/t AuEq1) including 131 Meters of 0.68 g/t Au, 0.55% Cu and 3.34 g/t Ag (1.56 g/t AuEq1) in HNK-18-013 in the Williams Porphyry Zone; Mineralization Open Laterally and at Depth.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
News Release
Golden Ridge Drills 319 Meters of 0.42g/t Au 0.34% Cu and 2.20 g/t
Ag (0.96 g/t AuEq1) including 131 Meters of 0.68 g/t Au, 0.55% Cu
and 3.34 g/t Ag (1.56 g/t AuEq1) in HNK-18-013 in the Williams
Porphyry Zone; Mineralization Open Laterally and at Depth.
November 28, 2018 TSX-V: GLDN
GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to
report assay results for the remaining drill holes on its Hank Project in BC’s Golden Triangle District ,
which confirm a significant copper-gold porphyry discovery at the Williams Zone . HNK-18-013, drilled
northeast of 2018 drill holes 1, 2 and 5, intersected 319 meters of 0.42g/t Au, 0.34% Cu and 2.20 g/t
Ag (0.96 g/t AuEq1) including 131 meters of 0.68 g/t Au, 0.55% Cu and 3.34 g/t Ag (1.56 g/t AuEq 1).
HNK-18-007 was drilled from outside the Williams Zone to the southwest of hole 1 and entered
mineralized, potassic altered monzonite at 427 meters, ending in mineralization at 603.50 meters (1980
feet, the maximum working depth for the Hydracore 2000 drill) . New IP geophysical results show a
strong correlation between chargeability and mineralization, indicating significant room for expansion of
the Williams porphyry both laterally and at depth (Figure 1).
Highlights:
- HNK-18-013: 318.73 meters of 0.42g/t Au , 0.34% Cu and 2.20 g/t Ag (0.96 g/t gold
equivalent1) from 217.27 to 536.00 meters:
▪ Including 13 0.89 meters of 0.68 g/t Au, 0.55% Cu and 3.34 g/t Ag (1.56 g/t gold
equivalent1) from 271.00 to 401.89 meters.
▪ Including 98.30 meters of 0.74 g/t Au, 0.60% Cu and 3.35 g/t Ag (1.69 g/t gold
equivalent1) from 275.00 to 373.30 meters.
• Including 40.00 meters of 0.84 g/t Au, 0.64% Cu and 3.28 g/t Ag (1.85 g/t
gold equivalent1) from 278.00 to 318.00 meters.
- HNK-18-007: 176.50 meters of 0. 21 g/t Au , 0.20% Cu and 2. 51 g/t Ag (0. 54 g/t gold
equivalent1) from 427.00 to 603.50 meters:
▪ Including 30.92 meters of 0. 21 g/t Au, 0. 33% Cu and 4.77 g/t Ag ( 0.77 g/t gold
equivalent1) from 432.08 to 463.00 meters.
▪ Including 18.44 meters of 0.39 g/t Au, 0.26% Cu and 2.02 g/t Ag (0.81 g/t gold
equivalent1) from 577.30 to 593.44 meters.
Hole HNK-18-013 was collared northeast of previously released holes HNK -18-001, HNK-18-002 and
HNK-18-005, beginning in a shoulder of phyllic altered volcanics and progressing west beneath a fault
zone into strongly potassic altered , copper-gold-silver mineralized monzonite. The hole ended in
mineralization with abundant potassic alteration at 568.45 meters. HNK-18-007 was collared outside
of the Williams Zone, west of HNK-18-001, and drilled northeast through a shoulder of strongly phyllic
altered volcanics and into potassic altered monzonite at 427 meters, with the potassic alteration and
mineralization increasing with depth. The hole ended in mineralization at the maximum capability of the
Hydracore 2000 drill.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Chris Paul, Vice President of Exploration for Golden Ridge, commented: “We are very pleased with our
initial progress on the Wi lliams Zone. In a single season, Golden Ridge has taken the Williams Zone
from a blind target to a significant discovery. Several of the 2018 drill holes ended in mineralization,
leaving the system open at depth and laterally. We are very excited about the next phase of drilling
which will utilize larger drill rigs and test the system in several directions. The final results of the 2018
IP survey have exposed a remarkably large chargeability anomaly that appears to extend laterally and
below the Williams Zone. Going forward, the Company plans to focus its exploration on the Williams
Zone, with an aggressive drill program planned for 2019 which aims to further outline the size and tenor
of the Company’s 2018 Cu-Au porphyry discovery.”
Table 1 – Williams Zone Significant Intersections
Length (m)
Dip (deg) Hole ID From
(m) To (m) Interval (m)2 Au
(g/t)
Cu
(%)
Ag
(g/t) AuEq1 (g/t)
568.45
-60o
HNK-18-013 84.80 99.00 14.20 0.15 0.10 4.59 0.36
including 86.30 87.15 0.85 0.72 0.17 24.17 1.27
and 217.27 536.00 318.73 0.42 0.34 2.20 0.96
including 218.95 401.89 182.94 0.59 0.50 2.77 1.38
including 271.00 401.89 130.89 0.68 0.55 3.34 1.56
including 275.00 373.30 98.30 0.74 0.60 3.35 1.69
including 278.00 318.00 40.00 0.84 0.64 3.28 1.85
603.50
-60o
HNK-18-007 427.00 603.50 176.50 0.21 0.20 2.51 0.54
including 432.08 463.00 30.92 0.21 0.33 4.77 0.77
including 577.30 593.44 18.44 0.39 0.26 2.02 0.81
424.89
-60o
HNK-18-009 32.00 52.00 20.00 0.35 0.03 4.80 0.45
including 40.40 52.00 11.60 0.51 0.03 5.20 0.62
and 357.90 361.00 3.10 0.02 0.16 540.00 6.74
328.27
-60o
HNK-18-012 132.00 176.00 44.00 0.21 0.04 3.68 0.32
including 169.00 176.00 7.00 0.23 0.21 8.33 0.65
520.29
-80o
HNK-18-015 255.00 269.00 14.00 0.10 0.28 1.06 0.54
and 393.58 445.00 51.42 0.07 0.18 1.16 0.36
including 416.44 424.00 7.56 0.10 0.35 2.24 0.66
and 461.00 506.00 45.00 0.06 0.12 0.61 0.25
1Gold equivalent (AuEq) grades are calculated using 200 day moving average metal prices of: gold US$1227/oz., silver US$14.53/oz., copper
US$2.73/lb. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * 0.012 + Cu (%) * 1.523. The factors for silver (0.012) and
copper (1.523) will change depending on the metal price. The metal price numbers listed above were used to determine the conversion factors
presented herein. Metal recoveries have not been applied in the gold equivalent calculation.
2The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the
mineralized intervals. All gold values are uncut.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
IP Survey:
Golden Ridge has received 3D inversions of the 2018 IP survey on the Williams Zone, incorporating data
from both the initial Phase I survey as well as follow -up lines which were completed at the end of the
season. The new survey data extends the very strong (>40 mV/V) chargeability anomaly over the Williams
Zone to over 1.2 kilometers in length and 600 meters in width (Figure 1). The high chargeability values are
coincident with drill intersections of Cu-Au mineralization and show the same NE-SW trend indicated by
the 2018 drilling . The anomalies appear to be open below the dep th of penetration of the survey at
approximately 600 meters. IP is proving to be an effective tool for targeting alkalic porphy ries in the
Golden Triangle and will be a key factor in guiding the next phase of drilling at the Williams Zone.
Epithermal Gold:
Golden Ridge also reports the results from the remaining four holes drilled on its epithermal gold-silver
targets on the Hank. Holes HNK -18-011 and HNK -18-014 drilled in the Lower Alteration Zone (LAZ)
returned broad intercepts of lower grade gold -silver-lead-zinc mineralization. HNK-18-011 ended in
mineralization at 515.42 meters, with gold grade increasing throughout the hole, indic ating increasing
mineralization intensity downslope. Intercepts from holes HNK -18-008 and HNK -18-016 appear to
represent low grade halos which are distal from the higher-grade epithermal mineralization. The Company
interprets the epithermal gold-silver mineralization on the Hank Property to be related to th e porphyry
system, discovered this year, as a zonation of gold, silver, lead and zinc mineralization surrounding the
copper-gold porphyry core.
Table 2 – Epithermal Gold-Silver Targets, Significant Intersections
Length (m)
Dip (deg) Hole ID From
(m) To (m) Interval
(m)2
Au
(g/t)
Ag
(g/t)
Pb
(%)
Zn
(%)
AuEq3
(g/t)
515.42
-60o
HNK-18-011 149.67 155.50 5.83 1.71 23.00 0.30 0.38 2.38
and 173.50 174.33 0.83 0.26 69.80 2.39 3.70 4.66
and 313.00 428.40 115.40 0.06 2.30 0.08 0.31 0.33
and 439.70 515.42
(EOH) 75.72 0.29 2.83 0.01 0.08 0.38
392.28
-60o
HNK-18-014 110.70 284.65 173.95 0.16 1.89 0.03 0.06 0.23
including 284.15 284.65 0.50 1.75 86.78 2.57 6.55 8.28
449.88
-60o
HNK-18-008 5.90 12.38 6.48 0.36 1.77 0.38
and 32.08 37.90 5.82 0.34 1.59 0.36
383.13
-60o
HNK-18-016 18.29 42.00 23.71 0.21 3.82 0.26
and 65.56 80.75 15.15 0.24 1.65 0.26
and 244.00 251.00 7.00 0.37 0.89 0.38
3Gold equivalent (AuEq) grades are calculated using 200 day moving average metal prices of: gold US$1227/oz., silver US$14.53/oz., lead
US$0.89/lb and zinc US$1.15/lb. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * 0.012 + Pb (%) * 0.497 + Zn (%) *
0.643. The factors for silver (0.012), lead (0.497) and zinc (0.643) will change depending on the metal price. The metal price numbers listed
above were used to determine the conversion factors presented herein. Metal recoveries have not been applied in the gold equivalent
calculation.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Quality assurance/quality control procedures:
All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment to
MS Analytical’s sample preparation facility in Terrace, B.C., certified reference material standards, blanks
and field duplicates were inserted at a ratio of approximately one in every 20 drill core samples. Samples
were prepared in Terrace by crushing the entire sample to 70 per cent passing minus two millimetres,
riffle splitting off one kilogram and pulverizing the split to better than 85 per cent passing 75 microns .
After preparation in Terrace, the prepared pulps were shipped to MS Analytical’s analytical laboratory in
Langley, B.C.
The gold assays are determined by FAS -111 fire assay method which reports results in parts per million
(equivalent to grams per tonne ). Any samples with a fire assay that report gold concentrations equal to
or higher than 10.0 g/t Au are analyzed by metallic screen method (Au-SCR24).
Base metal assays are determined by IMS -230 4-acid digestion with ICP -AES/MS finish method, which
reports results as parts per million (ppm). All analyses that reach the 10,000 ppm overlimit of IMS-230 are
reanalyzed with an ore-grade method. The analytical results are verified with the application of industry-
standard quality control and quality assurance procedures.
Qualified Person
Dr. Gerald G. Carlson, PhD, PEng, technical advisor to the Company, is the Qualified Person as defined
by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Golden Ridge
Golden Ridge is a TSX -V listed exploration company engaged in acquiring and advancing mineral
properties located in British Columbia. Golden Ridge owns a 100% interest in the 1,700-hectare Hank
copper-gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140
kilometres north of Stewart, British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN RIDGE RESOURCES LTD.
“Mike Blady”
Mike Blady
President and Chief Executive Officer
For more information regarding this news release, please contact:
Mike Blady, CEO and Director
T: 250-717.3151
F: 250-717.1845
W: www.goldenridgeresources.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute "forward-looking information" as such term is used in
applicable Canadian securities laws. Forward -looking information is based on plans, expectations and estimates of
management at the date the information is provided and is subject to certain factors and assumptions, including:
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
that the Company's financial condition and development plans do not change as a result of unforeseen events, that
the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship
with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and
other factors that could cause plans, estimates and actual results to vary materia lly from those projected in such
forward-looking information. Factors that could cause the forward-looking information in this news release to change
or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prov e not to be
valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition
and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the
geology, gr ade and continuity of mineral deposits, the possibility that results will not be consistent with the
Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and
development activities and to the Company as set forth in the Company's Management’s Discussion and Analysis
reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward -looking
information will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, the reader should not place any undue reliance on forward -looking information or
statements. The Company undertakes no obligation to update forward-looking information or statements, other than
as required by applicable law.
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.