Golden Ridge Options 52,442-Hectare Ball Creek Project from Evrim Resources, Increasing Land Position by Over 3000%
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 Options 52,442-Hectare Ball Creek Project from Evrim Resources, Increasing
Land Position by Over 3000%
July 9, 2019 TSX-V: GLDN
GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased
to announce it has signed an option agreement (the “Option Agreement”) with Evrim Resources Corp.
(“Evrim”) to acquire an 80% interest in the 52,442 hectare Ball Creek Project (the “Ball Creek” or the
“Project”) located in BC’s prolific Golden Triangle. The Ball Creek Project fully surrounds the Company’s
100% owned 1700 hectare Property, effectively increasing the Company’s land position in the Golden
Triangle by 3056%.
Michael Blady, CEO of Golden Ridge, commented: “We are extremely excited to expand the Hank
Property by such a significant amount around our newly discovered Williams Zone Cu -Au Porphyry
target. We plan to begin work immediately on this large underexplored land package in the heart of the
Golden Triangle. With several gold rich porphyry, epithermal gold and massive sulphide targets, the Ball
Creek Project is rich with exploration potential. The newly combined land package offers a truly regional
scale opportunity with five unique porphyry targets including, Mess Creek (adjacent to the Schaft Creek
deposit), More Creek , and the Main zone (Ball Creek) . The Ball Creek Project is strategically located
along Highway 37 , along with our existing exploration camp, which will allow for cost -effective
exploration on the Project during the remainder of the 2019 exploration season.”
Highlights
• Land position increased by over 3,000%
• Provides the Company with a district scale land package in the heart of the Golden Triangle
• First time in history the Hank claims have been consolidated with the surrounding ground.
• Provides opportunity to bring in major/mid-tier exploration and development partners
About the Ball Creek Project
The Ball Creek Project is a large, 524 square kilometre copper-gold porphyry and epithermal gold-silver
Project located in northwest British Columbia’s Golden Triangle, intersecting Highway 37 and the 287
kV Northwest Transmission Line. The Ball Creek contains f our separate porp hyry copper systems
distributed across the Project found in similar geological settings to the Red Chris*, KSM*, Spectrum/GJ*,
and Snip* mineral deposits.
Significant exploration potential exists at the Mess Creek, More Creek, Rainbow, and Ball Creek porphyry
systems. The Ball Creek porphyry has received the majority of exploration, with the other significant
porphyry targets largely unexplored.
The Ball Creek Project has had over 19,000m of drilling** on it with the majority (~11,000m) focused
on the Main Zone. Drilling in the main zone by previous operators intersected 231 meters grading 0.21%
copper and 0.54 g/t gold in drill hole BC07 -12 and including 45.72 meters grading 0.31% copper and
0.69 g/t gold.** The Main Zone mineralization is hosted in a sub -vertical, northeast-striking porphyry
complex that is 500 meters wide and 1,300 meters long and intrudes andesitic volcanic rocks. A complex
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
alteration system is centered on the porphyry complex and comprises a core of sodic and potassic
alteration that is overprinted, overlain and flanked by sericite -dominant alteration and peripheral
propylitic alteration developed in the enclosing andesitic rocks.
Golden Ridge and Evrim acknowledge that the Ball Creek Project is situated in the traditional territory
of the Tahltan Nation and both companies are committed to developing a positive and mutually beneficial
relationship based on respect and transparency.
Fig. 1 - Ball Creek Project highlighting Golden Ridge’s Williams Occurrence
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Fig. 2 - Chargeability Model 400 metre depth slice
The Option Agreement
Under the terms of the Agreement, Golden Ridge will have the right to earn an 80% interest subject to
a 2% net smelter return royalty (the “NSR”) in the Project by delivering on or before the 20th anniversary
a production notice to construct and operate a mine (the “ Production Decision ”) supported by a
feasibility study (the “ Feasibility Study ”) and evidence that Golden Ridge has obtained sufficient
financing to develop the Project in accordance with the Feasibility Study.
Additionally, in order to maintain the Option in good standing until exercised, Golden Ridge, subject to
TSX Venture Exchange (“Exchange”) approval (the “ Effective Date”) shall issue 1,000,000 common
shares, make certain cash or share equivalent payments of up to $300,000 1 and additional cash
payments of $1.75M over a 15 year period (the “Option Payments”) as follows:
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Shares Cash
Within five business days of
Exchange approval
1,000,000 -
Annually from Years 1-61 (cash or share equivalent) $50,000
Annually from Years 7-10 - $125,000
Annually from Years 11-15 - $250,000
Golden Ridge can elect to extend the option by another five years by making annual cash payments of
$500,000 on or before the 16th to 20th anniversary of the Effective Date.
Golden Ridge will not be obligated to make any payment other than the Share Commitment.
Additionally, Golden Ridge’s obligation to make any further Option Payments will cease upon Golden
Ridge making a Production Decision and exercising the Option accordingly.
Upon exercise of the Option , Golden Ridge and Evrim will enter i nto a joint venture agreement (the
“JV”) wherein Evrim will maintain a carried interest in the JV. Golden Ridge will then make cash
payments of $250,000 per year until a deposit is placed into commercial production. Evrim retains the
right to buy down 1% of the underlying 2% NSR royalty.
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 Notes
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
*This news release contains information about adjacent properties on which Golden Ridge has no right
to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative
of mineral deposits on the Company’s properties.
**Historical information contained in this news release regarding the Ball Creek project are reported for
historical reference only.
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:
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 materially 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 prove 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, grade 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.