Riverside Resources Executes Option Agreement for the Revel Carbonatite Rare Earth Element Project, British Columbia

Riverside Resources Inc. executed an option agreement on August 24, 2026, to acquire a 100% interest in the Revel carbonatite rare earth element (REE) project in southeastern British Columbia. The transaction requires aggregate cash payments of $450,000 and exploration expenditures of up to $2,200,000 over a five-year period. Riverside retains a 3% Net Smelter Returns (NSR) royalty upon exercise, with buy-down rights for the optionee to reduce the royalty to 2.5% and then 1.5% under specific conditions.

The Revel project features a 12-kilometre-long carbonatite-style REE system that remains undrilled, located near Seymour Arm, BC. The partner will fund upcoming airborne geophysics and field exploration in summer 2026, allowing Riverside to advance the project without immediate dilutive capital.

Riverside Resources Inc. (RRI) announced a follow-up to its October 2025 rare earth element program expansion and the July 30, 2026 land package expansion, which added 30% to the Revel tenure. The company entered into an option agreement that brings dedicated external funding of $2.2 million for exploration and $450,000 in cash to an undrilled, district-scale target. This arrangement aligns with Riverside’s project generator model, preserving upside through a retained 3% net smelter return and equity exposure while transferring the capital burden to the partner. The news is incremental and expected given the company's stated 2026 focus on advancing Canadian rare earth element assets. It does not represent a sudden shift in strategy or an unexpected financial windfall, but it materially de-risks the near-term exploration phase.

Riverside Resources Inc. (RRI) operates as a mineral exploration and project generation platform with an 18-year track record of identifying, advancing, and monetizing early-stage assets. The company’s flagship Union Project in Sonora, Mexico, is a district-scale carbonate replacement deposit (CRD) gold-silver system currently in Phase 2 exploration. This phase is fully funded by partner Questcorp Mining, with Riverside retaining a 2.5% NSR and equity stake.

The company’s portfolio includes the Red Jacket VMS project in BC, the Revel REE project in BC, and multiple Mexican assets including Cecilia, Ariel, and Valle. Additionally, Riverside maintains a royalty portfolio anchored by Tajitos (2% NSR, operated by Fresnillo), Sugarloaf Peak (2% NSR, operated by Arizona Metals), and royalties on Capitan Silver and Blue Jay Gold properties.