Riverside Resources and Centerra Commence Drill Program at the Glor Gold PROJECT in Sonora, Mexico
Riverside Resources and Centerra Commence Drill Program at the Glor Gold
PROJECT in Sonora, Mexico
VANCOUVER, British Columbia, Dec. 11, 2017 -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI),
is pleased to announce that partner, Centerra Gold Inc. (“Centerra”), has commenced a 1,200+ metre drill program at the Glor
Project (the “Project”). Roadwork and other preparations have been completed to access new drill targets within the Puerto El
Alamo target area. This campaign will focus on gold targets that have been developed in the past 8 months by exploration
programs that included detailed mapping, a detailed soil geochemistry survey, two ground magnetics surveys and an induced
polarization survey. Centerra has been funding exploration work at the 36 km 2 Glor Project since it entered into an option to
joint venture agreement with Riverside in 2016 (see RRI news release dated July 26, 2016).
The Glor Project is located approximately 12 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico, and has five
defined gold target areas (see Figure 1 ), with Puerto El Alamo currently being drilled. Centerra’s senior management
completed site visits in November to review the details of the planned drilling and confirmed the targeting concepts that were
developed from recent geochemical and geophysical survey data obtained from the Puerto El Alamo target area since July of
this year (see Figures 2a and 2b).
A diamond drill rig has been mobilized to the Puerto El Alamo target and drilling of the 1,200+ metre drill campaign has begun.
The locations of the first six holes have been selected (see Figures 2a and 2b ) and additional holes may be added to the
program, depending on results obtained by the initial boreholes.
President and CEO, John-Mark Staude stated: “We are delighted to be drilling again at Glor and testing large open-pit style
targets. We look forward to receiving results from the first holes in early 2018 and are pleased with Centerra’s support, as we
work closely together to develop and drill-test high-potential gold targets. We are always pleased to deliver discovery exposure
to our shareholders, especially at targets close to existing mining operations.”
Figure 1 : Glor Project map showing priority gold targets and area of detailed exploration completed in Q4-2017 at the Puerto
El Alamo target.
Figure 2a (left) : Shows gold results for soil geochemistry survey done over the Puerto El Alamo target area along with
coincident induced polarization chargeability and resistivity anomalies detected along three E-W survey lines. Also shown are
initial six proposed drill-holes.
Figure 2b (right): Shows soil geochemistry and geophysical anomalies overlain on regional geology.
Corporate News:
Riverside would like to report that Joness Lang has joined the Company’s Advisory Committee as he steps down from the Vice
President of Corporate Development role to pursue new business directions. Riverside appreciates that Joness will be actively
involved going forward with Riverside as a key contributor on the Advisory Committee and continues to be a shareholder.
Staude stated : “We are pleased to have Joness join our Advisory Committee, as his capital markets and corporate
development experience will nicely complement the technical expertise of the existing members on the Committee. Joness
has made important contributions to Riverside as a senior executive and will continue to support the Company in an advisory
capacity going forward.”
The Company recently granted 800,000 incentive stock options to certain Directors, Officers and Consultants. The Options are
exercisable at $0.28 for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director
vest in three equal installments over 18 months and Options granted to Officers and Consultants vest in four equal installments
over 12 months. The Options were granted pursuant to the Company's shareholder-approved stock option plan. The Options
are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods. At the same time, the
Company issued 230,000 shares at a deemed price of $0.28 to certain Directors, Officers and Consultants of the Company in
accordance with the Company's shareholder approved bonus share plan. Both shares and options are subject to the policies of
the TSX Venture Exchange and any applicable regulatory hold periods.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Glor Project was reviewed and prepared
under the supervision of Ronald Burk, P. Eng., a non-independent qualified person to Riverside Resources who is responsible
for ensuring that the geologic information provided in this news release is accurate and acts as a “qualified person” under
National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company that is driven by value generation and discovery. The company has
approximately $3,500,000 in cash, less than 45M shares issued and a strong portfolio of gold-silver and copper assets in
North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to
generate a diverse portfolio of properties. In addition to Riverside’s own exploration spending, the Company also aims to
diversify risk by securing joint-venture and spin-out partnerships to generate more discovery chances and advance multiple
assets simultaneously. Riverside has additional properties available for option, with more 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.