Riverside completes acquisition of Famosa claims

Executive Summary

• Riverside Resources Inc. has completed the acquisition and consolidation of three mineral concessions (La Famosa, Dana 7, and Dana 7) within the Union project district in Sonora, Mexico, securing clear title and full ownership.
• The transaction involved the final payment of $125,000 USD, bringing the total consideration for the concessions to $175,000 USD, with no net smelter royalty (NSR) or other royalties attached to these specific titles.
• This acquisition strengthens Riverside's district-scale land position, allowing for greater flexibility in advancing exploration activities, including a planned spring 2026 mineral exploration program, in partnership with Questcorp.

Key Details

• Concessions Acquired: La Famosa, Dana 7, and Dana 7.
• Mineral Titles: 199006, 220840, and 220841.
• Validity Periods:
  • Title 199006: 1994 through 2044.
  • Titles 220840 and 220841: 2003 through 2053.
• Transaction Structure:
  • Original agreement signed in August 2021 between RRM Exploracion (Riverside's subsidiary) and Pacific Comox SA de CV.
  • Five-year option period (2021–2026) to purchase claims.
  • Final payment of $125,000 USD made to exercise the purchase option.
  • Total consideration: $175,000 USD. Royalty Status: No net smelter royalty (NSR) or other royalties attached to this specific transaction.
• Geological Context: The Famosa area hosts CRD-style (carbonate replacement deposit) mineralization and structurally controlled gold mineralization within dolomite and quartzite units.
• Strategic Impact: Consolidates the southern portion of the Union project district, supporting future exploration targeting gold-silver-polymetallic mineralization.
• Partnership Context: Riverside continues to work with Questcorp under an option agreement providing up to $5.5 million in exploration expenditures financed by Questcorp, while Riverside retains equity exposure and a 2.5% NSR on the broader project.

Notable Quotes

• "We are pleased to complete the consolidation of the Famosa area within the Union project, securing full ownership with no royalty burden for the transaction on these key concessions," said Dr. John-Mark Staude, president and chief executive officer of Riverside Resources. "This strengthens our district-scale land position and provides greater flexibility as we continue advancing exploration at Union with our partner Questcorp."