Riverside Resources Provides Update on Questcorp Option Agreement at Union Project, Sonora, Mexico

Rhea-AI Summary

Riverside Resources (RVSDF) has provided an update on its option agreement with Questcorp Mining for the Union Project in Sonora, Mexico. As part of the agreement, Questcorp has issued 6,285,722 common shares (representing 9.9% ownership) to Riverside and made a cash payment of CAD $25,000.

Riverside, serving as the project operator, is advancing pre-drilling work including team organization, access planning, and water sourcing. The company's technical team is finalizing contractor selection for initial fieldwork and geophysical surveys to refine high-priority drill targets. The Union Project, located in the Sonora carbonate-replacement belt, shows potential for gold-silver-lead-zinc and copper discoveries through its historical mine workings, surface mineralization, and structural controls.

[ "Received 6,285,722 shares (9.9% ownership) of Questcorp Mining", "Secured CAD $25,000 cash payment from Questcorp", "Project advancing with partner funding, reducing exploration costs for Riverside" ]

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to provide an update regarding the option agreement with Questcorp Mining Inc. ("Questcorp") on Union Project announced on May 6, 2025. Questcorp has issued 6,285,722 common shares, representing 9.9% of Questcorp's issued and outstanding shares as of May 20, 2025, to Riverside. In addition, Questcorp has completed a cash payment of $25,000 CAD to Riverside. These steps have been undertaken pursuant to the terms and conditions of the option agreement dated May 5, 2025, among Questcorp, Riverside Resources Inc., and Riverside's wholly owned Mexican subsidiary, RRM Exploración, S.A.P.I. de C.V., in respect of the Union project which Riverside has progressed the exploration and property consolidation over the past few years and now the project is set to move ahead with this partner funding.

Riverside, as operator of Union Project, is advancing the pre-drilling work including organizing the field team, access and sourcing water that would be needed for drilling later this year. The Company's Mexico-based technical team is currently finalizing contractor selection and mobilization for an initial fieldwork program and then will conduct the pre-drilling, geophysical survey. This will be followed by more detailed work aimed at refining high-priority drill targets identified during previous fieldwork. Union Project lies within the productive Sonora carbonate-replacement belt and hosts multiple historical mine workings, strong surface mineralization, and favorable structural controls, making it highly prospective for gold-silver-lead-zinc and copper discoveries.

"We are encouraged by Questcorp's progress on the Option of the Union Project and are pleased to be executing the next steps in our agreement," stated John-Mark Staude, President and CEO of Riverside Resources. "Our field team in Sonora is now lining up access, camp logistics and exploration field work which lays the key groundwork to progress with the geophysical work that will be coming in the near future. The upcoming work will focus on integrating surface mapping, geochemical data, and then us geophysics to sharpen our drill targeting in this promising CRD system."

For further details on option agreement, please refer to the press release of May 6, 2025 on www.rivres.com and on sedarplus.ca.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Freeman Smith, P.Geo, VP Exploration, a non-independent qualified person to Riverside Resources Inc., who is responsible for ensuring that the information provided in this news release is accurate and who 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 driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. Riverside has properties available for option, with 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

Eric Negraeff Corporate Communications Riverside Resources Inc. Eric@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 risk that the Transaction will not be completed as contemplates, or at all, 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253013

FAQ

What did Riverside Resources (RVSDF) receive from Questcorp in the Union Project option agreement?

Riverside received 6,285,722 common shares (9.9% ownership) of Questcorp Mining and a cash payment of CAD $25,000.

Where is the Union Project located and what minerals is it targeting?

The Union Project is located in the Sonora carbonate-replacement belt in Mexico, targeting gold, silver, lead, zinc, and copper discoveries.

What are the next steps for Riverside Resources at the Union Project?

Riverside is advancing pre-drilling work, organizing field teams, planning access, sourcing water, and preparing for geophysical surveys to refine drill targets.

Who is operating the Union Project in Sonora, Mexico?

Riverside Resources is operating the Union Project, managing the exploration activities and pre-drilling work.