Riley prepares for exploration at Pipeline West/Clipper

Executive Summary

• Kinross Gold U.S.A. Inc. has submitted an Exploration Plan of Operations (EPO) for Riley Gold Corp.'s Pipeline West/Clipper (PWC) gold project in the Cortez mining district, Nevada.
• The submission marks a significant milestone under the March 2024 exploration earn-in agreement, aiming to accelerate exploration and drilling on high-priority targets.
• Upon approval by the Bureau of Land Management and the State of Nevada, the EPO will expand the allowable disturbance area from 5 acres to 250 acres across a 14 square kilometer (3,478 acre) boundary.

Key Details

• Project Location: Pipeline West/Clipper (PWC) gold project, Cortez mining district, Battle Mountain-Eureka trend, Nevada.
• Operator: Kinross Gold U.S.A. Inc. (wholly owned subsidiary of Kinross Gold Corp.).
• Agreement Context: Exploration earn-in agreement executed in March 2024.
• Current Status: Preparation for EPO completion is underway; previously operating under a "notice of intent" allowing up to 5 acres of disturbance with continuing reclamation.
• Proposed EPO Scope (Upon Approval):
  • Boundary Size: 14 square kilometres (3,478 acres).
  • Disturbance Area: Up to 250 acres.
  • Drill Sites: Up to 500 drill sites allowed in phases.
  • Infrastructure: Includes drill pads, sumps, access roads, overland travel, and laydown areas.
  • Drill Site Specifications: Approximate 100-foot-by-100-foot working surface per site.
• Future Exploration Plans:
  • Program designed to identify and test multiple high-priority targets.
  • Activities include 2025 and 2026 drilling, seismic/geophysical surveys, and geochemical soil sampling.
  • Planned drilling for 2026 remains on track for late spring 2026.

Notable Quotes

• "This EPO submission represents a major milestone and significant commitment by Kinross to unlock the full potential of the PWC gold project," said Todd Hilditch, president and chief executive officer of Riley Gold.