Ridgestone Terminates Property Option Agreement
RIDGESTONE MINING INC. [email protected]
503 – 905 West Pender Street, Vancouver, BC V6C 1L6 www.ridgestonemining.com
TSX.V: RMI
OTCQB: RIGMF
FRA: 4U5
RIDGESTONE TERMINATES PROPERTY OPTION AGREEMENT
VANCOUVER, BC / August 15, 2023 / Ridgestone Mining Inc. ( TSX.V: RMI) (OTCQB: RIGMF)
(FRA:4U5) ("Ridgestone" or the "Company") announced today that it has terminated its option to acquire
a 100% interest in the Guadalupe y Calvo (the “GyC Project”) project from Endeavour Silver dated January
27, 2021 (the “Option Agreement”). In accordance with the terms of the option agreement and subsequent
termination agreement, the Company has settled all outstanding financial obligations including fees
pertaining to Mexican mineral claim holding costs. The agreement has been terminated as the Company
has been unable to secure adequate funding to advance the project for the required work commitments and
property payments given the current state of the market.
About Ridgestone Mining Inc.
Ridgestone Mi ning has assembled a highly experienced and dynamic team to explore and advance its
projects in Mexico. Ridgestone’s 100% -owned Rebeico copper -gold project has high -grade copper and
gold pervasive throughout the property with highlights including 1.56% cop per plus 1.80 g/t gold
intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over
2.0 metres from the Alaska Vein.
For further information, please contact:
Rad Rajaram – Manager Corporate Relations and Business Development
Telephone: 416-732-0604
This news release contains forward -looking statements or information (collectively referred to herein as "forward -looking statements"). Such
statements are subject to risks and uncertainties that may cause actual res ults, performance or developments to differ materially from those
contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are
not limited to any ongoing drilling programs, t iming of such programs, or exploration results. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-
looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-
looking statements, including those described in the Company's regulatory filings available on www.sedar.com. Should one or more of these risks
or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those
projected in the forward -looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not
exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact
of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and
the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking
statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company
assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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