Riley Gold Corp. announced that an updated review of multiple sets of geophysical and soil geochemical data have revealed new, highly prospective drill target areas capable of hosting a large Carlin-type gold deposit at its Pipeline West/Clipper Gold Project located in Lander County, Nevada. Riley Gold's land package consists of approximately 24.7 square kms of unpatented mining claims and patented (fee) lands in the heart of the Cortez section of the Battle Mountain – Eureka Trend.

PWC is almost entirely surrounded by Nevada Gold Mines LLC which is a joint venture between Barrick Gold Corp. and Newmont Corporation. On the east, PWC's boundary lies within 1,000 metres from NGM's Pipeline/Gap Mine as well as only 600 m from NGM's Gold Acres open pit, where a window into carbonates of the lower plate of the Roberts Mountains Thrust outcrops.

On the north and west, PWC adjoins Ridgeline Mineral's Swift project which is subject to a earn-in transaction between Ridgeline and NGM whereby NGM can earn up to a 70% interest by spending USD 30 million. Geophysical data review and modeling were conducted with Riley Gold staff by Mr. Chet Lide, VP & Managing Geophysicist of Zonge International in Reno, Nevada. New and detailed analyses of ground and aero-magnetic data, gravity, and Controlled Source Audio-Frequency Magneto-Telluric surveys from past operators revealed multiple overlapping anomalies that point to structurally-controlled, high value drill targets within the Lower Plate of the Roberts Mountain Thrust system.

Research into prior drilling at PWC proved that units of the Devonian Wenban are present within PWC. Additionally, that older drilling intersected gold mineralization in the Lower Plate stratigraphy, with results up to 2.594 grams per tonne gold. However, large areas of PWC remain undrilled and open for potential discovery.

A significant portion of these areas also offer drill targets at or above 500 m depth. Gravity Horizontal Gradient Derivative. Emphasizes high-angle density contrasts (faults or contacts).

Note the strong northwesterly trend within the red ellipse. Overlapping, northwest-trending geochemical and geophysical anomalies provide a strong indication of very prospective drill targets along this 3-kilometre northwesterly trend. This aero magnetic map shows the Reduced to Pole (RTP) horizontal gradient which highlights the rate of change from non-magnetic facies to higher magnetic areas.

This information helps constrain structures and suggests areas for further investigation. The high rate of change area indicated could represent an area of increasing magnetic sulfides, such as pyrrhotite within hornfels and skarn surrounding the Gold Acres stock. Note that such a gradient is highlighted within the red ellipse.

Gold Acres pit is also aligned on the edge of a steep gradient. Inferred structural intersections coincident with soil geochemical and geophysical anomalies make compelling drill targets.