GLDN.V · 2017-12-12 12:00:00

Golden Ridge Resources Drills 60.27m of 2.60 G/T AuEq at the Hank Project IN Bc’S Golden Triangle

Drill Results

GOLDEN RIDGE RESOURCES DRILLS 60.27m of 2.60 G/T AUEQ AT THE HANK PROJECT IN BC’S GOLDEN

TRIANGLE

Kelowna, British Columbia – December 12, 2017 - Golden Ridge Resources Ltd. (“Golden Ridge” or the

“Company”) (TSXV: GLDN). Golden Ridge is pleased to report the second batch of assay results from its

2017 drill program at the Hank Property (“Hank” or the “Property”) in northwestern British Columbia,

Canada. HNK-17-008 returned 2.60 g/t AuEq over 60.27 meters, HNK-17-007 returned 1.05 g/t AuEq over

78.23m within a broader intercept of 0.7 3 g/t AuEq over 201.48 meters and HNK -17-006 returned 1.04

g/t AuEq over 60.95 meters with a broader intercept of 0.63 g/t AuEq over 210.31 meters.

Holes 4 -6 represent a 150 -meter step -out along strike from holes 1 a nd 2 (previously reported on

November 8, 2017), while holes 7 and 8 (results from 9 pending) represent a >1.1 km step-out.

Although unknown at this time, cross -sections demonstrate the intercepts to be near to true widths, as

correlations between holes sho w the mineralized shear zones to be roughly perpendicular to the hole

directions.

Drilling Highlights:

• Consistent grade and continuous shear zone hosted mineralization between holes.

• Mineralization has now been intersected over a 1.1 km strike length in the Lower Alteration Zone

(“LAZ”).

• Coarse visible gold observed in HNK-17-008 (111.07–111.87m, 133 g/t Au)

• Significant Au-Ag-Pb-Zn grades surround the high -grade veins, resulting in long mineralized

intercepts in each hole.

• Although unknown at this time, cross-sections suggest the intervals reported to be near true

widths.

• Assays are pending for HNK -17-009 where a new ly discovered mineralized intrusion was

intersected, with strongly altered volcanic rock along its contact , potentially representing a

causative intrusion for the LAZ mineralization.

• Analytical results for the LAZ demonstrate that the grades increase toward its hanging wall

contact, as opposed to the Upper Alteration Zone (UAZ) where the strongest grades occur at the

footwall contact.

Table 1 - Hank 2017 LAZ Drill Holes HNK-17-004 – HNK-17-008: Significant Intercepts

Hole

Length

(m)

Hole ID From

(m) To (m) Interval

(m)

AuEq*

(g/t)

(%)

AuEq x

Interval

(gm/t)

235.00 HNK-17-004 94.79 168.27 73.48 0.52 0.28 5.8 0.08 0.17 38

incl. 116.50 117.00 0.50 10.60 1.53 58.5 3.22 9.35

263.35

HNK-17-005 96.00 261.00 165.00 0.47 0.28 4.0 0.06 0.15 78

incl. 130.00 154.00 24.00 0.76 0.22 6.6 0.20 0.49

incl. 137.41 137.75 0.34 24.62 2.00 181.0 10.65 20.50

incl. 184.10 257.38 73.28 0.69 0.48 5.4 0.06 0.14

incl. 217.63 257.38 39.75 1.02 0.72 8.0 0.09 0.21

419.40

HNK-17-006 119.00 163.37 44.37 0.50 0.24 3.6 0.14 0.20

AND 206.05 416.36 210.31 0.63 0.45 5.1 0.03 0.14 132

incl. 206.05 267.00 60.95 1.04 0.65 8.9 0.05 0.35

incl. 209.11 209.66 0.55 38.89 13.95 469.0 0.65 22.50

incl. 279.20 299.00 19.80 1.02 0.86 4.7 0.03 0.12

410.26

HNK-17-007 16.20 217.68 201.48 0.73 0.41 3.3 0.10 0.32 147

incl. 63.39 119.00 55.61 0.87 0.53 3.5 0.02 0.40

incl. 139.45 217.68 78.23 1.05 0.54 4.9 0.21 0.46

incl. 158.00 172.93 14.93 1.76 0.51 8.4 0.63 1.13

incl. 184.63 185.91 1.28 26.17 22.00 114.7 1.20 2.82

incl. 210.66 214.60 3.94 2.20 0.23 8.4 0.98 1.89

AND 292.41 318.30 25.89 0.55 0.29 2.5 0.08 0.26

334.37

HNK-17-008 52.73 113.00 60.27 2.60 2.14 6.9 0.11 0.45 157

incl. 67.85 87.75 19.90 1.76 0.81 7.1 0.17 1.09

incl. 111.07 111.87 0.80 137.80 133.00 263.0 1.38 0.69 110

AND 170.00 181.55 11.55 0.91 0.40 14.5 0.13 0.34

*Gold equivalent (AuEq) grades are calculated using 200 day moving average metal prices of: gold US$1268/oz., silver

US$17.10/oz., lead US$1.04/lb and zinc US$1.28/lb. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * 0.013

+ Pb (%) * 0.562 + Zn (%) * 0.692. The factors for silver (0.013), lead (0.562) and zinc (0.692) will change depending on the metal

price. The metal price numbers listed above were used to determine the conver sion factors presented herein. Metal recover ies

have not been applied in the gold equivalent calculation.

A single drill hole, HNK -17-003 was collared southwest of the 200/440 zone of the UAZ to test its down

dip extension. The alteration, mineralization and veining present in the 200/440 zone was not intersected

in HNK-17-003, however low-grade mineralization was encountered over several significant intercepts. It

is interpreted the 200/440 zone plunges either vertically or to the east, which will be tested in 2018. In

the LAZ, holes HNK-17-004 to HNK-17-008 have appreciable concentrations of lead and zinc associated

with the gold and silver, whereas, gold and silver in HNK-17-003 from the UAZ does not have a base metal

association.

Table 2 - Hank 2017 UAZ Drill Hole HNK-17-003: Significant Intercepts

Hole Length (m) Hole ID From

(m) To (m) Interval

(m) AuEq** (g/t) Au (g/t) Ag (g/t)

274.62

HNK-17-003 46.15 85.65 39.50 0.24 0.23 1.07

AND 116.13 140.51 24.38 0.15 0.13 0.83

AND 193.00 247.19 54.19 0.27 0.24 1.71

**Gold equivalent (AuEq) grades are calculated using 200 day moving average metal prices of: gold US$1268/oz. and silver

US$17.10/oz. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * 0.013. The factor for silver (0.013 ) 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.

Michael Blady, CEO of Golden Ridge stated: “We are very pleased with the cont inuity of mineralization

within the LAZ. To drill consistent grades between holes on each section over a strike length of 1.1 km is

remarkable. Gaining an understanding of the controls on mineralization in the LAZ, including the discovery

of a mineralized intrusion in HNK-17-009 gives Golden Ridge a major advantage over historical operators,

which only sparsely tested the zone . We look forward to receiving the remainder of the results from the

2017 program.”

A drill plan view map, drill sections and select core photos are included in this news release and can be

downloaded from Golden Ridge Resources Ltd. website at: www.goldenridgeresources.com

QA/QC Procedures:

All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment to

ALS Global’s sample preparation facility in Terrace, BC, certified reference material standards, blanks and

field duplicates were inserted at a ratio of approximately 1 in every 20 drill core samples. Samples were

prepared in Terrace by crushing the entire sample to 70% passing -2mm, riffle splitting off 1kilogram and

pulverizing the split to bet ter than 85% passing 75 microns . After preparation in Terrace, the prepared

pulps were shipped to ALS Global’s analytical laboratory in North Vancouver, BC. The gold assays are

determined by Au-AA26 fire assay method which reports results in parts per million (ppm) (equivalent to

grams per tonne (g/t)). Any samples with a fire assay that report gold concentrations equal to or higher

than 1.0 g/t Au are analysed by screen metallic method (Au-SCR24).

Base metal assays are first determined using the ME -MS41 method, which reports results as parts per

million (ppm). All analyses that reach the overlimits of ME -MS41 are reanalyzed with an Ore Grade

method. The analytical results are verified with the application of industry standard Quality Control and

Quality Assurance (QA-QC) procedures.

Qualified Person:

C. Mark Rebagliati, P.Eng., a consultant to the Company, is a Qualified Person as defined under National

Instrument 43-101 and has reviewed and approved the technical content of this news release.

About Golden Ridge Resources:

Golden Ridge is a TSX -V list ed exploration company engaged in acquiring and advancing mineral

properties located in British Columbia. Golden Ridge currently has an option to acquire a 100% interest

in the 1,700 -hectare Hank gold -silver-lead-zinc property located in the Golden Triangle district,

approximately 140 kilometres north of Stewart , British Columbia. Golden Ridge may earn the 100%

interest by performing $1.7M of exploration work by the end of 2018.

For more information please contact:

Golden Ridge Resources Ltd.

Mike Blady

Chief Executive Officer

Tel: (250) 768-1168

Website: www.goldenridgeresources.com

Cautionary Statement Regarding Forward Looking Statements

This release includes cert ain statements that may be deemed to be "forward -looking statements". All

statements in this release, other than statements of historical facts, that address events or developments that

management of the Company expects, are forward -looking statements. Although management believes the

expectations expressed in such forward -looking statements are based on reasonable assumptions, such

statements are not guarantees of future performance, and actual results or developments may differ materially

from those in th e forward -looking statements. The Company undertakes no obligation to update these

forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Factors that could cause actual results to differ materially from those in forward-looking statements, include

market prices, exploration and development successes, continued availability of capital and financing, and

general economic, market or business conditions. Please see the public filings of the Company

at http://www.sedar.com/ for further information.

409100 E

409150 E

409200 E

409250 E

409300 E

409350 E

409400 E

409450 E

6342200 N

6342250 N

6342300 N

6342350 N

6342400 N

6342450 N

+12.5 m

-12.5 m

100

200

100

200

100

200

300

400

409100 E

409150 E

409200 E

409250 E

409300 E

409350 E

409400 E

409450 E

750 RL

800 RL

850 RL

900 RL

950 RL

1000 RL

1050 RL

1100 RL

1150 RL

6342200 N

6342250 N

6342300 N

6342350 N

6342400 N

6342450 N

750 RL750 RL

800 RL800 RL

850 RL850 RL

900 RL900 RL

950 RL950 RL

1000 RL1000 RL

1050 RL

1100 RL

1150 RL

24.62g/t

4.08

36.21g/t

50 m

100

150

200

50 m

100

150

200

250

50 m

100

150

200

250

300

350

400

419.4 m

HNK-17-006

-75°

263.4 m

HNK-17-005

-60°

235 m

HNK-17-004

-45°

HNK-17-004

HNK-17-005

HNK-17-006

g/t Au-Eq

1100 m

1200 m

Figure 2. Hank

Project Cross-

Section A-A’

News Release 12-12-2017

LEGEND

Lower Alteration Zone

Mineralized Shear Zones

100m

A’

0.52g/t Au-Eq over 73.48m

Lower Alteration Zone (LAZ)

HNK-17-004

0.52g/t Au-Eq over 73.48m

(0.28g/t Au, 5.8g/t Ag, 0.08% Pb,0.17% Zn)

HNK-17-005

0.47g/t Au-Eq over 165m

(0.28g/t Au, 4.0g/t Ag, 0.06% Pb, 0.15% Zn)

HNK-17-006

0.63g/t Au-Eq over 210.31m

(0.45g/t Au, 5.1g/t Ag, 0.03% Pb, 0.14% Zn)

0.63g/t Au-Eq over 210.31m

10.60g/t

0.47g/t Au-Eq over 165m

OVERBURDEN

6342300 N

BRITTLE CARAPACE

MINERALIZED AUREOLE

INTRUSION

409550 E

409600 E

409650 E

409700 E

409750 E

409800 E

6343150 N

6343200 N

6343250 N

6343300 N

6343350 N

+12.5 m

-12.5 m

100

200

300

400

HNK-17-007

100

200

300

HNK-17-008

100

200

HNK-17-009

409600 E

409650 E

409700 E

409750 E

409800 E

750 RL

800 RL

850 RL

900 RL

950 RL

1000 RL

1050 RL

1100 RL

1150 RL

6343150 N

6343200 N

6343350 N

6343400 N

750 RL

800 RL

850 RL

900 RL

950 RL

1000 RL

1050 RL

1100 RL

1150 RL

5.49g/t

13.09g/t

16.86g/t

5.67g/t

52.36g/t

7.33g/t

50 m

100

150

200

250

300

350

400

50 m

100

150

200

250

300

334.4 m

HNK-17-008

50 m

100

150

200

250

291.4 m

HNK-17-009

45°

80°

1200 m

1100 m

Lower Alteration Zone (LAZ)

B’

g/t Au-Eq

Figure 3. Hank

Project Cross-

Section B-B’

News Release 12-12-2017

LEGEND

Lower Alteration Zone

Mineralized Shear Zones

100m

HNK-17-007

0.73g/t Au-Eq over 201.48m

(0.41g/t Au, 3.3g/t Ag, 0.10% Pb, 0.32% Zn)

HNK-17-008

2.60g/t Au-Eq over 60.27m

(2.14g/t Au, 6.9g/t Ag, 0.11% Pb, 0.45% Zn)

HNK-17-009

ASSAYS PENDING

g/t Au-Eq

410.3 m

65°

HNK-17-007

7.40g/t

6.94/t

2.60g/t Au-Eq over 60.27m

0.73g/t Au-Eq over 201.48m

137.80g/t

ASSAYS PENDING

OVERBURDEN

← Back to feed