Riverside Resources and Agnico Eagle Mines Reach Sale Agreement for the Pima Property, Santa Gertrudis Mine Area, Sonora, Mexico
Riverside Resources and Agnico Eagle Mines
Reach Sale Agreement for the Pima Property,
Santa Gertrudis Mine Area, Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2022) -
Riverside Resources
Inc.
(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company"),
is pleased to
report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima
Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through
royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa
Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle.
The Pima mineral concession is located inside Agnico's property tenure and south of the known mine
operation. Acquiring the Pima project allows Agnico to consolidate another part of its property
concession and provides cash to Riverside. As a reminder, this project was originally added to
Riverside's portfolio as part of the 2019 purchase of the Millrock's set of 5 (five) assets that included the
Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with
Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the
royalty to Millrock who has been a positive partner with the Company in Mexico.
Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold
Project, which is located southeast of Agnico's property and where drilling in 2021 discovered gold in
intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company
has over $4.5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-
silver and copper assets and royalties in North America. Riverside has extensive experience and
knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of
prospective mineral properties. In addition to Riverside's own exploration spending, the Company also
strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets
simultaneously and create more chances for discovery. Riverside has properties available for option,
with information available on the Company's website at
www.rivres.com
.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
Phone:
(778) 327-6671
Fax:
(778) 327-6675
Web:
www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web:
www.rivres.com
Certain statements in this press release may be considered forward-looking information. These
statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates",
"intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks --
including the availability of funds, the results of financing and exploration activities, the interpretation
of exploration results and other geological data, or unanticipated costs and expenses and other risks
identified by Riverside in its public securities filings that may cause actual events to differ materially
from current expectations. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date of this press release.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/114661