Golden Ridge Resources Discovers High-Grade Visible GOLD IN Float at the Williams GOLD Property, Surrounded BY New Found GOLD Corp’S Queensway South GOLD Project
GOLDEN RIDGE RESOURCES DISCOVERS HIGH-GRADE VISIBLE GOLD IN FLOAT AT THE WILLIAMS GOLD
PROPERTY, SURROUNDED BY NEW FOUND GOLD CORP’S QUEENSWAY SOUTH GOLD PROJECT
Kelowna, British Columbia – December 21, 2021 - Golden Ridge Resources Ltd. (“Golden Ridge” or “the
Company”) (TSXV: GLDN) is pleased to report that it has discovered high-grade (281g/t) Au float at the
Williams Gold Property (“Williams” or “The Property”), that is surrounded by New Found Gold Corp
(NFGC)’s Queensway South Gold Property in the Central Newfoundland Gold Belt of the province of
Newfoundland and Labrador (Figure 1).1 The sample was taken during prospecting of the underexplored
western portion of the property.
High Grade 281g/t Au Discovered in the Dominion Zone
Prospecting during 2021 discovered high-grade Au float in the Dominion Zone, in the southwest of the
property (Figure 2). The assay of 281g/t (9 oz/t) Au is one of the highest reported for an individual grab
sample in the Queensway South area. Exploration in 2021 continues to highlight the potential for high-
grade gold zones within the Williams Property. Golden Ridge will continue to explore the underexplored
Dominion Zone when assays become available.
Awaiting Assays from the 2021 Field Exploration Program
During the 2021 field exploration season Golden Ridge took 200 grab rock samples and 255 channel
samples from outcrop and trenches, as well as 1,316 soil samples. Due to the current high level of
exploration activity in Newfoundland, and consequent demand for analytical services, the Company is still
awaiting the full suite of assays, which should be received in time to plan the next phase of exploration in
early 2022.
The 2021 field exploration covered the majority of the underexplored Williams Gold Property. Golden
Ridge identified numerous hydrothermal zones spanning across the property , primarily concentrated
within the Dog Bay and Appleton Fault Corridors (Figure 3,4). Soil Sampling was conducted on a high-
density (25 x 25m) grid in order to follow up anomalies identified in the 2020 100 x 100m regional soil
sampling grid (see News Release of October 26, 2020). Based on results of the 2021 trenching program,
Golden Ridge strongly believes the high-density soil sampling grid will be an effective geochemical
targeting tool for future exploration.
Mike Blady, Director, CEO & President of Golden Ridge stated “ The high-grade float sample taken at the
Dominion Zone shows the potential for high-grade gold within the Williams Property and throughout the
South Queensway Area. We are continuing to uncover and define the potential for high-grade gold
mineralization across the Williams Gold Property, where very limited historical work has been done. Using
the trenching, and geochemical soil-sampling data, from 2021 we will continue to vector towards the high-
grade sections of the Dog Bay and Appleton Fault Corridor . Upon receipt of assays we will be able t o
effectively and quickly follow up these targets early in 2022.”
1This 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
Qualified Person:
Dr. Stephen Amor, PhD, P Geo, 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.
Acknowledgments:
Golden Ridge Resources acknowledges the financial support of the Junior Exploration Assistance Program,
Department of Industry, Energy, and Technology, Government of Newfoundland and Labrador.
About Golden Ridge Resources:
Golden Ridge is a TSX -V listed exploration company engaged in acquiring and advancing mineral
properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on
exploration and development of its portfolio of exploration assets in Newfoundland. The Company owns
a 100% interest in the 1,700 -hectare Hank copper -gold-silver-lead-zinc property and the 3,000 -hectare
Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north
of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.
Golden Ridge Resources Ltd.
Mike Blady
Chief Executive Officer
Tel: (250) 717-3151
Website: 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:
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 reg ulatory 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 app licable 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.