Ridgeline Minerals Provides Assay Results for the Black Ridge Gold Project, Nevada

The latest news release from Ridgeline Minerals Corp., dated December 11, 2025, provides assay results for the Black Ridge Gold Project in Nevada and an exploration update for the Swift project.

At Black Ridge, the first drill hole, RLX-25001, completed by the partner Nevada Gold Mines (NGM), intersected 0.8 meters grading 0.113 grams per tonne (g/t) gold (Au) within sulfidized Popovich formation. The hole intersected Lower Plate Rodeo Creek formation at a shallower vertical depth (773m) than anticipated and encountered Carlin-Type alteration and pathfinders within the Popovich formation. The hole bottomed in Bootstrap Formation. The CEO states that these results validate the Lower Plate target concept and confirm gold mineralization along the Leeville Trend, highlighting exploration potential but noting that "further drilling is required to vector into higher-grade gold mineralization." NGM has incurred US$1,071,000 towards its US$4,500,000 earn-in commitment for a 60% interest in Black Ridge by July 14, 2028.

For the Swift project, also partnered with NGM, assays are pending for two deep core holes. Ridgeline reports that NGM is experiencing laboratory delays due to high sample volumes from the Fourmile project, but samples are now being processed. NGM has incurred US$14,789,000 towards its US$20,000,000 earn-in commitment for a 60% interest in Swift by December 31, 2026.

The assay result from Black Ridge (0.8m @ 0.113 g/t Au) is very low-grade and, on its own, holds no economic significance. While the CEO attempts to frame this as a validation of the geological model and an encouraging sign for future exploration, the actual quantitative result is disappointing. It suggests that while the target concept might be valid, the immediate outcome from this initial drill hole is far from a discovery and indicates that significant additional drilling and time will be required to potentially find economic mineralization. This is a negative development for the Black Ridge project.

The update on the Swift project, indicating lab delays for pending assay results, is an operational setback. While such delays are common in the industry, they defer potential catalysts and prolong uncertainty for investors regarding the success of this key partner-funded project. This is a neutral to slightly negative administrative update, as it pushes out expected news flow.

Considering the previous "Material - Positive" discovery at the Selena project (November 4, 2025), which reported high-grade zinc-silver-gold-lead-copper-antimony massive sulfide mineralization, the current Black Ridge results are a stark contrast. The market's reaction to the Selena news was a significant sell-off, which is concerning. The current low-grade Black Ridge results, combined with the continued delays for Swift, do not offer any immediate positive counterbalance. Therefore, the overall impact of this news is Routine - Negative, as it further dampens enthusiasm for the company's exploration prospects and signals continued challenges in delivering high-impact results across all projects simultaneously.

Ridgeline Minerals Corp. (TSXV: RDG) is a discovery-focused precious and base metal exploration company with a portfolio of six projects in Nevada, USA, covering approximately 200 square kilometers. Its strategy involves a mix of 100%-owned assets and earn-in agreements with major partners.

Key Projects:

• Selena CRD Project (White Pine County, Nevada): This project, 100%-owned by Ridgeline but under an earn-in agreement with a wholly-owned subsidiary of South32 Limited, is targeting high-grade carbonate replacement deposits (CRD) rich in silver, gold, lead, zinc, and potentially copper-tungsten. In November 2025, Ridgeline announced a "massive sulfide CRD discovery" at the Chinchilla Sulfide target with notable intercepts (e.g., 1.1m @ 1.5 g/t Au, 27.0% Zn, 60.1 g/t Ag). South32 can earn an initial 60% interest by funding US$10 million in qualifying work expenditures over five years (US$573,758 incurred through Sep 30, 2025, or US$602,000 through June 30, 2025).
• Swift Gold Project (Nevada): Operated under an earn-in agreement by Nevada Gold Mines (NGM), a joint venture between Barrick Gold and Newmont. The project targets Carlin-type gold mineralization. NGM can earn an initial 60% interest by spending US$20 million in qualifying work expenditures by December 31, 2026. As of September 30, 2025, NGM had incurred US$14,789,000. Significant historical intercepts include 1.1m @ 10.4 g/t Au (SW24-006).
• Black Ridge Gold Project (Nevada): Also operated under an earn-in agreement by NGM, this project is exploring for Carlin-type gold. NGM can earn an initial 60% interest by spending US$4.5 million by July 14, 2028. NGM has incurred US$1,071,000 through November 30, 2025.
• Big Blue Porphyry Cu-Au Project (Elko County, Nevada): This is a 100%-owned project targeting porphyry-skarn copper-gold ± silver-molybdenum mineralization. Maiden drill program results in July 2025 included a high-grade copper-silver-tungsten intercept (0.6m @ 0.7% Cu, 3194 g/t Ag, 2.6% W, 35.3% CuEq).
• Atlas Gold Project (Eureka County, Nevada): A 100%-owned Carlin-type oxide gold project that was staked in January 2025 and had its maiden drill program results in August 2025 (e.g., 0.2m @ 1.8 g/t Au). The project was further consolidated by optioning the Trench project from EMX Royalty Corp. in May 2025.