Riley Gold Strategically Increases Land Position by 50% at Tokop (Nevada)
Riley Gold Strategically Increases Land Position by 50% at
Tokop (Nevada)
NEWS RELEASE
Vancouver, B.C. March 28, 2022 – Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold”
or the “Company”) is pleased to announce that the Company has significantly increased its land package
based on recent encouraging results from its ongoing exploration program and the discovery of new
prospective areas of low sulfidation epithermal mineralization on the southern portion of its Tokop Gold
Project (“Tokop”), located in Esmeralda County, Nevada.
Tokop’s land package increased by 10.3 Square Kilometres (“sq km”) and now totals more than 31 sq km’s
within Nevada’s prolific Walker Lane Trend. Riley Gold staked a total of 123 federal unpatented lode claims
surrounding much of the Diamondback, Ghost, and Desert Bloom prospect areas (see Figure 1). The claims
were staked based on the interpretation and results of the exploration activity conducted at Tokop South
including: regional-scale geologic al mapping, rock sampling, soil sampling, and ground magnetic and
gravity surveys; as well as a hyperspectral (hydrothermal) alteration data review.
The three Tokop South prospect areas (Ghost, Diamondback, and Desert Bloom) exhibit locally intense
epithermal alteration, stockwork, and veins at surface. This, combined with geophysical signatures
suggests hydrothermally altered zones and target horizons at relatively shallow depths. Initial rock
sampling has yielded assays of more than 1 gram per tonne (“ gpt”) gold. Soil sampling has revealed
anomalous gold and epithermal pathfinder trends. Portions of this area host several old prospects, shafts,
and adits. The collective, multi -layered data defined these new targets and provided the basis for adding
the new claims.
“Our exploration work is yielding additional opportunities and adding significant value to the geological
modelling of the Tokop South and Tokop North areas,” said Todd Hilditch, President and CEO of Riley
Gold. “ The continued step -wise exploration efforts will focus our results and guide us to specific drill
targeting at Tokop.”
Figure 1 – Map of Tokop North and South (including prospect areas)
Geological Overview
Recent work at Tokop has revealed more than one style of gold mineralization and host rock. One is a
reduced intrusive-related gold system hosted in granitoids and carbonate units (more prevalent at Tokop
North), while the other a system is typical Walker Lane- style epithermal mineralization hosted in Tertiary
volcanics (Ammonia Tanks tuff) as well as Wyman Formation carbonate. This style of mineralization is more
akin to ore deposits approximately 30 miles south and east of Tokop South like those of the Bullfrog District.
Deposits of the Bullfrog District (surrounding Beatty, Nevada) are low-sulfidation, volcanic and sedimentary-
hosted, epithermal gold deposits like the Bullfrog Mine previously operated by Barrick Gold, from open pit
and underground workings. Additional exploration and deposit development in the Bullfrog District includes
work by Corvus Gold (now AngloGold), Coeur Mining, Kinross, and Augusta Gold Corp.
About Riley Gold Corp.
Riley Gold is an exploration and development company focused in Nevada, USA. The Company’s primary
focus is on its two cornerstone assets: the Tokop Gold Project located within the Walker Lane Trend and
the Pipeline West/Clipper Project located in the Battle Mountain Eureka Trend. Riley Gold’s founders and
leadership team have a proven track record of maximizing shareholder value during each phase of the
mining life cycle: exploration, development, and production.
Qualified Person
This news release has been reviewed and approved by Charles Sulfrian, CPG., Exploration Manager, of
Riley Gold and a ‘qualified person’, as defined by National Instrument 43- 101, Standards of Disclosure for
Mineral Projects. The Qualified Person has not completed sufficient work to verify the historic information
on Tokop, particularly in regards to the historical drill and chip sample results. However, the Qualified
Person believes that drilling and analytical results were completed to industry standard practices. The
information provides an indication of the exploration potential of Tokop but may not be representative of
expected results.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Todd Hilditch
Chief Executive Officer
Tel: (604) 443-3831
Or
Mars Investor Relations
Tel: (778) 999-4653
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.
Cautionary statement regarding forward–looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian
securities legislation (such statements being referred to as "forward-looking statements"). Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by words
such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential
and similar expressions. Forward -looking statements involve risks, uncertainties and other factors that
could cause actual results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward- looking statements, including statements regarding the exploration
program at Tokop, including results of drilling, sampling, geophysics, interpretations and future exploration
plans at Tokop. Factors that could cause actual results to differ materially from these forward- looking
statements include, but are not limited to, variations in the nature, quality and quantity of any mineral
deposits that may be located, the Company's inability to obtain any necessary permits, consents or
authorizations required for its planned activities, and the Company's inability to raise the necessary capital
or to be fully able to implement its business strategies. The reader is referred to the Company's public
disclosure record which is available on SEDAR ( www.sedar.com). Although the Company believes that
the assumptions and factors used in preparing the forward- looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the disclosed time frames or at all. Except
as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any
intention or obligation to update or revise any forward- looking statement, whether as a result of new
information, future events or otherwise.