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RRI Riverside Resources Inc

0.13
0.00 (0.00%)
26 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Riverside Resources Inc TSXV:RRI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.13 0.12 0.135 0 01:00:00

Partner-Funded Drilling has Commenced at Riverside's Peñoles Project in Durango, Mexico

06/03/2014 12:00pm

Marketwired Canada


Riverside Resources Inc. ("Riverside" or the "Company")  (TSX
VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99) is pleased to announce that
drilling has commenced on the Penoles project in Durango, Mexico. The
3,000-metre drilling program is designed to expand on the known silver and gold
mineralized areas identified by previous drilling campaigns. Initial drill holes
are planned at Jesus Maria to follow up on high-grade silver results from the
5-hole program that was completed the previous year, which included 320 g/t
silver over 11.85 metres (see press release June 10, 2013). Click the following
link to view a short video clip of the drilling at the Penoles Project captured
three days ago: www.rivres.com/penoles-video


The Penoles project is located in the Durango silver-gold belt in north-central
Mexico and is currently owned 100% by Riverside. The current drilling campaign
under way on the property is being conducted pursuant to a commitment by Morro
Bay Resources Ltd. ("Morro Bay") to perform $750,000 of exploration work on the
property during the first part of 2014. Morro Bay can complete its option to
earn an initial 51-per-cent interest in the property by paying USD$1.35-million
in cash to Riverside and paying USD$1.5-million worth of Morro Bay shares (or
cash at Morro Bay's option, provided that if the market value of the Morro Bay
shares is less than five cents based on a 30-day volume-weighted average price,
such payment must be made in cash) by June 30, 2014. For more information see
Riverside press release dated January 23, 2014.


Riverside's President and CEO, John-Mark Staude stated, "Riverside is pleased to
see partner-funded drilling begin at the Penoles project and looks forward to
further results from the historic Jesus Maria silver mine area, the San Rafael
vein system, and further drilling on the Capitan Hill zone. Field evaluation
exploration work is also being completed on a number of additional targets on
the property and Riverside continues to evaluate the big scale potential as the
Penoles Project is advanced."


Property Details:

The 350 km2 Penoles Project includes concessions staked by Riverside in 2008 and
several smaller concessions covering historic mine workings purchased by
Riverside from the underlying owners all such concessions being located in the
Penoles Mining District, Durango, Mexico (the "Penoles Project"). Penoles is a
historic silver mining district in the Durango Silver Belt that has had
relatively little modern exploration. Published historical accounts indicate
that Compania Minera Industrias Penoles operated several vein-type, underground
silver mines at Penoles from 1887 to 1908, however production records are
limited and potential extensions of the mines have not been systematically
explored. The Penoles Project includes two historic silver mines (Jesus Maria
and San Rafael), an oxide gold prospect (referred to as El Capitan) and numerous
exploration targets. Please click the following link for more information on the
Penoles Project: www.rivres.com/penoles


Qualified Person and QA/QC:

The scientific and technical data contained in this news release pertaining to
the Penoles Project was reviewed by Riverside's Chief Geologist, David S. Smith,
MS, MBA, CPG, 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 prospect generation team of focused, proactive gold
discoverers with the breadth of knowledge to dig much deeper. The Company
currently has more than $5,000,000 in the treasury and approximately 37,000,000
shares outstanding. The Company's model of growth through partnerships and
exploration uses the prospect generation business approach to own resources,
while partners share in de-risking projects on route to discovery. 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.

Dr. John-Mark Staude, President & CEO

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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Riverside Resources Inc.
John-Mark Staude
President & CEO
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com


Riverside Resources Inc.
Joness Lang
Manager, Corporate Development
(877) RIV-RES1
(778) 327-6675 (FAX)
jlang@rivres.com
www.rivres.com

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