Ridgestone Acquires Las Pilas Rare Earth Property

Executive Summary

• Ridgestone Mining Inc. entered an option agreement to acquire 100% of the Las Pilas Project in southern British Columbia for rare‑earth and critical mineral exploration.
• Initial consideration: $20,000 cash plus issuance of 200,000 common shares at a deemed price of $0.105 per share; additional $300,000 cash and 300,000 shares required to exercise the option, together with a minimum $600,000 of exploration spend over three years.
• The agreement includes a 2% net smelter return (NSR) royalty payable to the owners, with an optional one‑time purchase of half of this royalty for $1,000,000.

Key Details

• Initial Option Exercise: Pay $20,000 cash and issue 200,000 common shares ($0.105 per share) upon regulatory approval; shares subject to a 4‑month + 1‑day hold period.
• Full Exercise Requirements: Additional payment of $300,000 cash, issuance of another 300,000 shares, and commitment to spend at least $600,000 on exploration over the next three years.
• Royalty Terms: 2% NSR royalty in favor of the owners; Ridgestone may purchase 50% of this royalty for a one‑time payment of $1,000,000.
• Property Description: Las Pilas comprises two mineral claims (1,202.02 ha) plus seven pending title applications covering an additional 4,236.81 ha, located in the Greenwood‑Grand Forks area within the historic Greenwood Mining District.
• Geology Highlights: Includes the Rock Candy Creek fluorite occurrence and associated fault systems; historically mined high‑grade fluorite veins and breccias indicate a viable hydrothermal system for rare‑earth and critical mineral potential.
• Regulatory Condition: Transaction subject to acceptance and filing with the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)