Ridgeline drills 0.8 m of 0.113 g/t Au at Black Ridge

Executive Summary

• Ridgeline Minerals Corp. released assay results from Nevada Gold Mines' (NGM) first drill hole at the Black Ridge Gold Project, validating the Lower Plate target concept and confirming gold mineralization extends onto the Black Ridge property at shallower depths than previously modeled.
• The company provided an exploration update for the Swift project, noting that assays are pending for two deep core holes due to lab delays, while drilling continues on additional holes targeting high-grade intercepts at the SW Swift target.
• Both projects are part of separate earn-in agreements with NGM totaling $40 million in potential expenditures, with specific spending milestones and interest acquisition terms outlined for each property.

Key Details

• Black Ridge Project (Black Ridge Gold Project, Nevada):

  • NGM completed one deep core hole to a total depth of 1,109 meters in August.
  • Primary Objective: Testing the lower-plate host rock section similar to the producing Leeville mine and high-grade Fallon discovery, located ~3.0 km southwest.
  • Geological Intersections:
    • Intersected Lower Plate Rodeo Creek formation (Drc) host rocks at 773-meter vertical depth (substantially shallower than anticipated based on 2020 campaigns).
    • Transitioned into a 6.7-meter-thick section of Popovich formation (Dp), interpreted as potentially faulted off.
    • The Dp section exhibited extensive silicification, crackle brecciation, and sulphidation with elevated Carlin-Type pathfinders (As-Sb-Hg).
  • Highlight Intercept: 0.8 meters grading 0.113 grams per tonne gold (g/t Au) starting at 972.8 meters in sulphidized Popovich formation. True widths are unknown.
  • Hole Bottom: Variably altered and bleached Bootstrap formation (SDb), host to multiple past and currently producing gold deposits.
  • Earn-In Status: NGM incurred $1,071,000 (U.S.) in qualifying work expenditures through Nov. 30, 2025. NGM must spend a minimum of $4.5 million (U.S.) by July 14, 2028, to earn an initial 60% interest.

• Swift Project (Swift Project, Nevada):

  • Drilling Status: The second core tail out of five proposed holes in 2025 is complete; assays are pending for both.
  • Lab Delays: Assays for two deep core holes are delayed due to high sample volume from NGM's Fourmile project; samples are now being processed.
  • Active Drilling: An additional RC precollar completed to 730 meters; drilling is in progress on a second hole. Both will be ready for re-entry in spring 2026 to continue drilling along strike of previous high-grade intercepts.
  • Previous High-Grade Context: Previous intercepts at SW Swift target include up to 1.1 meters grading 10.4 g/t Au (SW24-006).
  • Earn-In Status: NGM incurred $14,789,000 (U.S.) in qualifying work expenditures through Sept. 30, 2025. NGM must spend a minimum of $20 million (U.S.) by Dec. 31, 2026, to earn an initial 60% interest.

• QA/QC Procedures:

  • Samples submitted to ALS Minerals (Elko, Nev.), an independent certified laboratory.
  • Core split using diamond core saw (HQ and NQ size); half submitted for assay, half retained.
  • Analysis methods: Au-AA23 (30 g fire assay) and ME-MS61 (48-element suite, 0.25-gram four-acid digestion/ICP-MS).
  • ALS performs internal coarse and pulp duplicate analysis.
  • NGM inserts CRM standards, duplicates, and blanks; results reviewed by NGM technical personnel.
  • Technical data approved by Michael T. Harp, CPG, Vice-President, Exploration, a Qualified Person under NI 43-101.

Notable Quotes

• Chad Peters, President, CEO, and Director: "We are very encouraged by the Nevada Gold Mines teams first drill hole at Black Ridge, which has validated our Lower Plate target concept and confirms that gold mineralization continues along the Leeville trend and extends onto the Black Ridge property at shallower than modeled depths."
• Chad Peters: "Assays are pending for two deep core holes at our Swift project... We originally anticipated results from our first hole in November; however, NGM is experiencing lab delays due to the high volume of samples from the Fourmile project. We have recently received confirmation that our samples are now being processed, and we look forward to releasing assay results as soon as they are available."