VANCOUVER, British Columbia, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX-V:RRI) (OTC Pink:RVSDF) (Frankfurt:R99) is pleased to provide an overview of the Company’s goals and growth plans for the coming year. Riverside enters 2018 with partner-funded drill results expected from two projects early in Q1. The Company completed its first financing in six years during March 2017, raising C$3.44M. Riverside enters 2018 well positioned corporately with a tight share structure (less than 45,000,000 shares outstanding), a strong cash position (C$3,500,000) and no debt. The Company will aim to build on the successes achieved during 2017.
Riverside had a successful 2017 that included the consolidation and acquisition of the Cecilia Project in Sonora, Mexico. Riverside spent its own funds working up and exploring the Cecilia Project (sampling chip-channels of 1-2 metres in length with a 3.0 metre wide zone showing an average grade of 5.45 g/t Au - see press release July 25, 2017), with new proposed drill targets now in place. In addition, Riverside geologists re-examined drill cores and re-logged fifteen Jesus Maria drill-holes creating new high-grade drill targets at the Peñoles Project. Both of these lead projects were permitted for drilling during the later part of 2017 in anticipation of partner or self-funded drill campaigns commencing this winter/spring. Riverside has been hard at work generating and evaluating its options for advancing these assets and believes both projects will generate strong news flow early in 2018.
The list below outlines some of the key catalysts and corporate growth plans for 2018:
- Drill results expected early in Q1 from the Puerto El Alamo Target Area at the Glor Gold Project (Partner: Centerra Gold).
- Drill results expected early in Q1 from the Clemente Silver-Gold Project
(Partner: Silver Viper Minerals). - Riverside expects to deliver drill campaigns at the Peñoles and Cecilia Projects in 2018.
- Partner, Croesus Gold Corp., expected to complete a go-public transaction in 2018 (Riverside currently owns 3,800,000 Croesus common shares and holds a 2% NSR on the Sugarloaf Peak Project).
- New partnerships will be explored to advance the Company’s 100% owned projects (Tajitos, La Silla, Thor, Ariel). The Company expects multiple new JV deals in 2018.
- Riverside will continue acquiring new high-quality assets and consolidating key districts in Mexico.
In addition to the existing partner-funded activity and growth catalysts, Riverside will progress its wholly owned projects and aim to secure new growth assets with significant exploration upside.
Riverside’s President and CEO, John-Mark Staude, stated: “We are in a very strong position for company growth and success in 2018 with a promising line up of early 2018 drill results and partnership deals to come. The 100% permitted assets provide immediate and strong growth for Riverside and we are in a great position heading into the New Year with a tight share structure and new discovery potential at multiple projects. We appreciate our strong shareholder base and their continued support and our team looks forward to a productive year ahead.”
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the corporate growth plans press release was reviewed and prepared under the supervision of Ronald Burk, P. Eng., a non-independent qualified person to Riverside Resources who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company that is driven by value generation and discovery. The company has approximately $3,500,000 in cash, less than 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a diverse portfolio of properties. In addition to Riverside’s own exploration spending, the Company also aims to diversify risk by securing joint-venture and spin-out partnerships to generate more discovery chances and advance multiple assets simultaneously. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
| John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com | Raffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect”,” estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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