Riverside Resources Partner Commences Drill Program at the Clemente Project in Sonora, Mexico
Riverside Resources Partner Commences Drill Program at the Clemente
Project in Sonora, Mexico
VANCOUVER, British Columbia, Oct. 02, 2017 -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI),
is pleased to announce that partner, Silver Viper Minerals (TSX-V:VIPR) has raised over C$3,000,000 in their IPO with a firm
commitment to proceed with drilling targets at the Clemente Project (the “Project”) in Sonora, Mexico. Silver Viper Minerals
(“Silver Viper”) has mobilized a diamond drill rig to the Project and will test initial silver-gold targets commencing this week.
Silver Viper plans to complete an initial 2,000 metre HQ core drilling program, marking the first ever drilling to be performed at
the Project. The initial program will focus on the El Mundo and Nuevo Mundo prospect areas. The Clemente Project was
staked by Riverside through the Company’s Mexico generative database, and later advanced during the Company’s exploration
alliance with Hochschild Mining. Situated approximately 40 km south of the regional mining and agricultural centre of Caborca;
silver, gold and base metal mineralization at Clemente is hosted by quartz shear veins, quartz stockworks and hematitic vein
breccias.
Riverside’s President and CEO, John-Mark Staude, stated : “We are pleased to see partner funded drilling commence at
Clemente and look forward to the results and potential for new discoveries at the Project. Riverside is a Silver Viper
shareholder and will receive additional cash and share payments if the option agreement progresses towards earn-in, with
Riverside also retaining a 2% NSR on the Project.”
Features at Clemente are similar to known mineral deposits in the western Sonora region of Mexico demonstrating strong
structural control. Previous work at Clemente recognizes a complex post-depositional history including two phases of thrust
faulting, subsequent folding and extensional faulting. The Project history and geologic model was summarized in the Sedar
filed NI 43-101 Technical Report completed by Silver Viper using an independent qualified person as part of their IPO listing.
As per the Option Agreement (see Riverside’s press release dated December 6, 2016), Silver Viper must complete $4,000,000
in exploration, pay $750,000 in cash payments and issue Riverside 2,000,000 Silver Viper shares (Riverside currently holds
1M Silver Viper shares) to complete earn-in for a 100% interest in the Project. Upon earn-in, Riverside will retain a 2% NSR on
the Project.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Clemente Project was reviewed and prepared
under the supervision of Ron 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 more than
$4,000,000 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 and diverse portfolio
that has benefitted from more than $15M of investments over the past decade. In addition to Riverside’s own exploration
spending, the Company also aims to diversify risk by securing joint-venture and spin-out partnerships to offset corporate costs
and generate more discovery chances, while advancing 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 Communication
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.