Ridgeline Minerals Converts Exploration Success into All-Cash C$32.7 Million Sale of Carlin & Cortez Trend Gold Portfolio to Nevada Gold Mines

Ridgeline Minerals Corp. (RDG) has sold its Swift, Black Ridge, Bell Creek, and Atlas gold exploration projects to Nevada Gold Mines (NGM), a joint venture between Barrick and Newmont, for a total cash consideration of US$23.15 million (C$32.7 million). The all-cash transaction closed on August 3, 2026, with no finder’s fees paid, pending final approval from the TSX Venture Exchange.

Following the sale, Ridgeline holds C$33.0 million in cash and C$3.0 million in marketable securities, including 5.2 million Spartan Metals shares. The company also retains full exposure to the Selena project, which is subject to an earn-in agreement with South32, as well as the Big Blue and Coyote projects, and a 1% net smelter return (NSR) on the Eagle tungsten project. The sale price represents a 26% premium to Ridgeline’s 20-day volume-weighted average price (VWAP) and delivers a greater than 350% return on invested capital across the four divested projects.

Ridgeline Minerals Corp. (RDG) has completed a transaction with gross sale proceeds of C$32.7 million, an amount that exceeds the company’s pre-announcement market capitalization of approximately C$27.3 million. The deal crystallizes value from earn-in agreements that previously required decade-long partner spending to reach the same point. By exiting these projects entirely, Ridgeline eliminates future dilution risk and the uncertainty associated with lengthy exploration timelines.

The company now holds a C$36 million cash and securities cushion against minimal liabilities while retaining its highest-potential asset, the Selena project, where South32 is funding drilling into a high-grade CRD discovery. Prior news had indicated steady but routine partner-funded drilling, and the company’s MD&A explicitly warned that additional funding would be needed within the fiscal year; this sale resolves that concern. The market is likely to re-rate the stock, with the cash backing implying a floor near C$0.25 per share and the retained exploration upside potentially adding significant option value.

Ridgeline Minerals Corp. (RDG) operates as a hybrid prospect generator focused on precious and base metals in Nevada. The company’s business model involves staking or acquiring projects, advancing them through early-stage drilling, and then bringing in well-funded partners via earn-in agreements.

The post-sale flagship is the Selena project, a 97 km² area that hosts the Chinchilla Oxide exploration target of 38–58 Mt and the new high-grade Chinchilla Sulfide CRD discovery. South32 is earning up to 80% by spending up to US$20M. The discovery hole SE25-053 returned 1.1m @ 27.0% Zn, 60.1 g/t Ag, 1.5 g/t Au (766 g/t AgEq). South32 has already spent US$5.6M and approved a US$4.4M year-3 program.

Remaining 100%-owned projects include Big Blue, a porphyry/CRD deposit with a notable 0.6m @ 3,194 g/t Ag, 0.7% Cu, 2.6% W intercept, and Coyote, which is on-trend from Black Ridge. Atlas, Bell Creek, Black Ridge, and Swift were sold to NGM.