Riverside Resources Corporate Outlook and Milestones for 2024
Riverside Resources Corporate Outlook and
Milestones for 2024
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) -
Riverside Resources Inc. (TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company")
is proud to outline its 2024
milestones and highlights from the past year. The Company continues to advance its 100% owned
portfolio leveraging its proprietary databases, exploration expertise, and on-the-ground knowledge to
identify, stake, or acquire high-quality prospects. Riverside has over C$6,000,000 in cash, zero debt, no
warrant overhang, and a tight share structure with fewer than 75,000,000 shares outstanding. Positioned
with a strong balance sheet, Riverside is well-prepared to capitalize on opportunities in 2024.
Riverside's President and CEO, John-Mark Staude, stated: "We are in a good position for the New Year
with a strong balance sheet, excellent projects and the key transactions that Riverside completed in
2023, setting us up now for an excellent 2024. To our knowledge, Riverside is one of the better
positioned companies, compared to our peers, to benefit from a potential incoming general
commodities sector upside."
Our plan is to expand upon the growth of the past year with the following 2024 goals and potentially
newsworthy events:
Transaction of mineral assets and value capture from its growing portfolio of exploration assets in
Canada (Ontario & British Columbia) including gold (Pichette, Oaks & Elly) and rare earth element
projects (Revel).
Sale or farmout transactions with gold and copper assets in Mexico including the Cecilia and
Union Projects.
Work towards a new Strategic Alliance with a major base metal producer.
Maximize value from Riverside's Royalty Portfolio through a targeted marketing/sales process.
2023 Recap:
The Company has experienced a busy year marked by the continued development of high-quality
mineral exploration portfolio in Canada, expansion into British Columbia and several high-quality
acquisitions. Additionally, in Mexico new consolidations have been pursued to capitalize on market
opportunities, positioning Riverside for a robust upcoming year. Some of the key milestones include:
Canada
Ontario
Completed the acquisition of the Duc Project, strategically located in Ontario's Porcupine Mining
District. This significant land area is recognized for its gold mineralization and is near a former
phosphate mine, which offers potential for rare earth elements.
Successfully completed detailed interpretations of advanced helicopter magnetic surveys at the
Duc Project utilizing the state-of-the-art SHA Geophysics' Heli-3G system. These surveys have
been instrumental in identifying and developing promising near-surface drill targets. A successful
acquisition of the P.A.T. Gold Mine, within the Pichette Project, demonstrating substantial gold
potential and a key step in the consolidation and preparation for 2024. To that effect the company
is currently progressing a new NI 43-101 for Q1 2024 on the project.
The Pichette Project, now a top priority for Riverside given the high-grade gold results. The project
boasts excellent road access and is situated near Canada's third largest open pit gold producing
mine at Greenstone Gold Mine owned by Equinox Gold and Orion.
British Columbia
The generation/acquisition of the Elly Gold Project, in southern British Columbia, has expanded
Riverside's footprint in southwestern British Columbia. The Company has been continuing with its
prospecting and integrating databases, laying the groundwork for partnering and potential drilling
in 2024.
Acquisition of the Revel Carbonatite Rare Earth Element (REE) Project in British Columbia was a
key strategic move to add REE and critical metals to the company portfolio of assets. The Revel
area is a key district Riverside now has and will be progressing in 2024 with partners.
Mexico
The Company continued with its ongoing efforts in Mexico by reaching key milestones and
preparing for the upcoming fall season through the acquisition of updated drill permits. This crucial
development ensures that the properties will maintain their compliance and good standing for a
period of up to three years.
On the Ariel Project, we are focusing on porphyry copper, crucial consolidation of land,
encouraging copper results, and strides in securing drill permits and transferring titles to Riverside,
positioning the Company for potential joint venture opportunities.
Continuing with its acquisition of the Union Mine in Sonora, Mexico, situated in the high-grade
Union District, the site has shown promising results, with discoveries of up to 1 ounce of gold and
over 30% zinc, highlighting the potential for further expansion in the area.
The Cecilia Project in Sonora, Mexico has a large dome complex which has already yielded
significant gold intercepts from previous drilling efforts. Riverside is poised to progress with
partners for a potential next phase of drilling in 2024.
Upcoming Events:
Riverside Resources Inc. has received and accepted invitations to present at the Vancouver Round Up
conference in late January and will exhibit in early March, at the Prospectors & Developers Association
of Canada (PDAC) in Toronto.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company
has over $6M 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 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
Mehran Bagherzadeh
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.
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