VANCOUVER, British Columbia–(Newsfile Corp. – February 16, 2023)- Ridgeline Minerals Corporation (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or “Company”), Swift Project (“Swift” or “Project”), Eureka Trends-Battle Mountain, Nevada Cortez Mining District (Figure 1). The project is operated by Nevada Gold Mines (“NGM”) under an Exploration Earn-in Agreement that was signed in September 2021 (see full press release). here) NGM holds an option to spend US$20 million in eligible spending over five years to acquire an initial 60% stake in the project. NGM is USD 4,900,000 To date, the project has met the US$4,000,000 minimum guaranteed work commitment ahead of the scheduled deadline of December 31, 2023.

Between September 2022 and January 2023, three widely spaced (approximately one kilometer) ‘framework’ core holes totaling 3,278 meters (‘m’) were completed by NGM (Figure 2).Boreholes SW22-002 and SW22-003 intersect the carbonate host rock of the lower plate between 570 and 830 m depth, showing wide intervals of Carlin-type alteration and anomalous gold (“Au”) mineralization. intersects in both holes, and the individual samples are 2.72 Gram per ton (“g/t”) Au (photo1).Highlight interception includes 37.2m grading 0.29g/t Au, 2.6g/t Ag with SW22-002 48.8m grading of 0.45 g/t Au, 0.98 g/t Ag with SW22-003 (Figure 2). Core hole SW22-004 intersects the lower plate host rock at 1,065m and was drilled to a depth of 1,104m before he was shut down in January 2023 due to severe winter weather conditions. The hole was left cased and could re-enter in 2023.

Ridgeline President, CEO and Director Chad Peters commented: Swift Project. It is well known that large Carlin-type gold deposits tend to form kilometer-scale gold and trace element halos around them, and today’s results suggest that gold systems important to Swift. Holes 2 and 3 were drilled 800 meters apart and the Nevada gold mine returned the strongest lower plate gold intercept yet for the project to date. The results of will add important geochemical and structural pieces to the geological model and help future exploration programs potentially point towards the high-grade gold zone. , we look forward to updating our shareholders as the program progresses. ”

Drill result highlights:

• SW22-002: 7.0m grading 0.76 g/t Au0.49 g/t Ag (Figure 2)

  • 51.1m grading 0.19g/t Au, 1.14g/t Ag include 1.5m grading 1.51g/t Au, 0.16g/t Ag Starting from 667.5m, 37.2m grading 0.29g/t Au, 2.60g/t Ag from 874.5m

• SW22-003: 43.0m grading 0.27 g/t Au, 0.51 g/t Ag starting at 598.3m

  • 48.8m Grading 0.45g/t Au, 0.98g/t Ag from 667.5m 3.4m grading 1.92g/t Au, No significant value for Ag From 804.8m (photo1)
  • 1.5m grading 0.15 g/t Ag, 999.6m to 64.3 g/t Ag

• SW22-004: 3.0m grading 2.27 g/t Au, 0.36 g/t Ag upper plate Starting at 724.5m on Valmy Fm.

To view the full Assay Composite Table, here.

2022 Exploration Program Summary

NGM drilling to date has confirmed the following:

• Money – Presence of strong Carlin-type alteration with broad demineralization zones, elevated trace elements, and unusually thick gold zones containing grades up to 2.7 g/t Au
• host rocks – Consistent depth into the lower plate host rock with targetable depths between 500 and 800m
• structure – Complex tectonic framework dominated by low-angle (thrust) faults that appear to control alteration and gold mineralization in Swift

NGM has spent a total of US$4,900,000 on the project to date and has achieved a guaranteed US$4,000,000 work commitment ahead of the scheduled deadline of December 31, 2023 (see press release September 2021). here).

Figure 1: A floor plan map showing the location of the Swift exploration acquisition contract with Nevada Gold Mines. Barrick Investor Day presentation¹ (changed from November 18, 2022 presentation) here)

Figure 2: Floor plan view map of the Swift project with hole locations and highlighted assay intercepts for the 2022 drill program (NSV = no significant values).

swift project

Swift is located in the Cortez area of ​​the historic Battle Mountain-Eureka Trend, about 30 kilometers south of the town of Battle Mountain in Lander County, Nevada. District-sized 75 km² properties tend to Pipeline, Cortez Hills, and Gold Rush deposits. (View Swift VRIFY presentation)These comprise the multi-million ounce Cortez Complex owned by Nevada Gold Mines (a joint venture of Barrick Gold Corp. and Newmont Corp.). Ridgeline has signed an Exploration Earn-In Agreement with NGM on September 22, 2021. This allows NGM to contribute a minimum of $20 million ($4 million guaranteed) in covered work expenditure over his first five years, earning an initial 60% interest. In a Swift Gold project. NGM has an additional option to increase its interest rate to a total interest rate of 75% (subject to additional expenditure and commitment).

photo1: SW22-003 Gold assay core photos from 2785 to 2803 feet (848.9 to 854.4 m). Note the widespread calcite veins with increased demineralization associated with sample grading of 2.72 g/t Au.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp of CPG. Ridgeline Qualified Person under National Instrument 43-101 and Responsible for Technical Matters for this Release, Vice President of Exploration for the Company.

About Ridgeline Minerals Corporation

Ridgeline is a discovery-focused precious and base metal explorer with a proven management team and board of directors who have made numerous gold discoveries in North America. The company manages his 192km² exploration portfolio across his six projects in Nevada and Idaho, USA. For more information on Ridgeline, visit his website at: www.RidgelineMinerals.com

on behalf of the board
“Chad Peters”
President and CEO

Further information:
Chad Peters, P.Geo.
President and CEO
Ridgeline Minerals Corporation
1-866-RDG-NVAU (734-6828) – Toll Free | This email address is being protected from spambots. JavaScript must be enabled to view.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws and U.S. private securities litigation. Outlook Information”). Reform Act 1995. Forward-looking information includes, but is not limited to, the expected benefits of the Earn-In Agreement and the transactions contemplated by it. “possible”, “expect”, “meaningful”, “discover”, “predict”, “believe”, “estimate”, “expect”, “may”, “will”, The words “plan,” “plan,” “historical,” “historical,” and similar expressions are intended to be included within statements that identify forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by forward-looking information. . In preparing the forward-looking information in this news release, Ridgeline has applied several important assumptions. This includes, but is not limited to, the assumption that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions. The current objectives of the project can be achieved and other corporate activities proceed as expected. General business and economic conditions will not change materially adversely. and that all necessary information is available in a timely manner. Forward-looking information includes factors, known and unknown, that could cause Ridgeline’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. It includes risks, uncertainties and other factors. Such risks and other factors include, among other things, risks associated with reliance on key personnel. Risk associated with unexpected delays. Risks associated with historical data not verified by us. So are the factors discussed in Ridgeline’s public records. Ridgeline has attempted to identify important factors that could affect Ridgeline and could cause actual actions, events or results to differ materially from those set forth in the forward-looking information. However, there may be actions, events, or other factors that cause the outcome to be different than expected. expected, presumed, or intended. There can be no assurance that any forward-looking information will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Ridgeline undertakes no obligation to release publicly any revisions to the forward-looking information contained in this news release, except as required by law. This is to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events.

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¹ Barrick 2022 Investor Day – Exploration (q4cdn.com)