Riverside Resources Provides Corporate Outlook for 2021
Riverside Resources Provides Corporate
Outlook for 2021
Vancouver, British Columbia--(Newsfile Corp. - January 14, 2021) -
Riverside Resources Inc. (TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company")
is pleased to provide a brief
outlook on its goals and objectives for 2021. Riverside enters the new year with two joint-venture
partners actively advancing gold-silver projects in Sonora, Mexico. The Company formed an option
partnership agreement with Hochschild Mining on its Cuarentas Project, where an initial 1,500 m drill
program has recently wrapped up. In addition to the joint venture at Cuarentas, Riverside also signed
and has initiated work on a farm-out option agreement with Carlyle Commodities Corp focusing on
advancing the Cecilia Gold Project. Preparations are currently underway for an initial drill program to
commence in the near future on a couple of the 10 high priority drill targets on the >60km² district land
tenure.
During 2020, BHP and Riverside continued to make progress despite the Covid-19 related challenges
and will look to extend the Exploration Funding Agreement for another year as the program advances
well and targets continue to progress. During the new year the BHP program will remain focused on
discovering large copper deposits in Sonora and has developed a strong portfolio of prospective
projects that progressed while still meeting necessary health and safety protocols. For 2021 the
Company will look to have news flow on the copper front as new data has been flowing in and strong
technical collaborations are progressing high quality targets.
Canadian work by Riverside's technical team in 2021 will focus on advancing the four key properties in
two distinct greenstone belts in western Ontario. The Oakes, Pichette and Longrose projects will be an
immediate focus for partnering to expand upon the 2020 technical work. A recent $600M buyout
transaction of Premier Gold Mines' Geraldton Gold Mine sites around where Riverside's tenure is
located. Riverside staked and then worked on a 230
km
2
land package during 2020, the High-Lake
Greenstone Belt in Canada's top gold producing province of Ontario
[1]
. In 2021 this greenstone belt will
be progressed by Riverside and potentially partnering on portions, or all of this large target-rich tenure.
After much work, Riverside completed the Plan of Arrangement spin-out of its Peñoles Project into a new
special purpose vehicle, Capitan Mining. As part of the transaction, Riverside's shareholders received
proportionate shares of the new company, which has been trading since September of 2020 (TSXV:
CAPT), with initial drill results already reported and strong news flow of new results expected to continue
during 2021.
The Company continues to maintain a tight share structure (less than 69M shares outstanding); no debt
and over $3M cash in the bank. The list below outlines some of the key catalysts and opportunities the
Company is working towards in the first half of 2021:
Extend its
strategic funding agreement with BHP
for at least another year into 2022 for
generative copper exploration in northeastern Sonora, Mexico; including acquiring properties and
progressing toward drilling select projects
Completing an initial
partner-funded drill program
at the Cecilia Gold Project with targets
identified and permits in hand
Complete further interpretation work and detail follow up drill targets to refine regional property-
wide targets at the Cuarentas Gold Project in Sonora, Mexico
The Company seeks to advance its portfolio of projects in Ontario's greenstone belt to take
advantage of the renaissance taking place in gold mining in northern Ontario
Riverside is targeting new
Canadian
joint-venture partnerships
in 2021
New project acquisitions
expected to continue expanding the Company's portfolios in Canada
and Mexico
Riverside
holds marketable securities worth over $1,000,000 CDN
and has developed a
portfolio of retained NSR's on previously partnered projects
Riverside's President and CEO, John-Mark Staude, stated:
"2020 was a challenging year for the
world and yet Riverside was lucky to have strong projects, a strong local team, and partners to work
through the year such that we are set up exceptionally well entering 2021. We are grateful to our
shareholders and stakeholders as we have worked to be safe and follow protocols while progressing
the business of discovery and property assets that we control. Riverside is looking forward to building
and growing through 2021 as we continue to be bullish on the prospect of another strong year in the
gold space. The Company has been strategically positioning itself with high-quality projects and
partnerships and is geared up for a productive year ahead."
Upcoming Events:
Riverside Resources Inc.
will be exhibiting at the virtual AME Roundup Project Generators Hub from
January 18 to 22 and the PDAC virtual show from March 8 to 11. Make sure to stop by our virtual booths
for a detailed update on the Company's plans for the year ahead.
AME Roundup | January 18
th
to 22
nd
(Virtual Event)
https://roundup.amebc.ca
PDAC 2020 Virtual Convention | March 8
th
to 11
th
(Virtual Event)
https://www.pdac.ca/convention
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company
has no debt and less than 69M shares outstanding with a strong portfolio of gold-silver and copper
assets 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 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.
[1]
https://www.nrcan.gc.ca/science-data/science-research/earth-sciences/earth-sciences-
resources/earth-sciences-federal-programs/gold-facts/20514
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https://www.newsfilecorp.com/release/72020