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    RRI   CA76927D1015

RIVERSIDE RESOURCES INC.

(RRI)
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Riverside Resources : Consolidates Tenure at La Union Project and Reports High-Grade Gold, Including 59.4 gt and 40 gt Gold from Recent Sampling

10/07/2021 | 07:47am EST

Vancouver - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ('Riverside' or the 'Company') is pleased to report the mineral tenure consolidation and expansion of La Union Polymetallic Project in Sonora, Mexico.

The acquisition of these additional concessions provides Riverside with an expanded land position and further control of the historical mines and old workings across the district. This consolidation through the acquisition of small internal concessions provides Riverside an option on the high-grade, previous small scale mine properties, internal to the larger surrounding 100% Riverside owned mineral concessions and increases the property total area to over 26 km2 (2,604 hectares). This transaction expands upon the original property acquired from Millrock's Mexico portfolio in 2019.

La Union is located in western Sonora and is part of the orogenic gold trend. The old mining areas at La Union have seen very little drill testing and the broader structures are wide open for further regional exploration. Riverside is in contact with the local surface owners and knows the region from previous work with partner Hochschild Mining which allows Riverside to initiate exploration immediately.

Riverside's initial field work included selective rock sampling from abandoned mine workings and dumps with results returning up to 59.4 g/t Au and 833 g/t Ag. Further exploration work will begin shortly as the Company is pleased to have completed this expansion step, opening the door to follow up work.

La Union Polymetallic Project has been previously defined as a manto-chimney style deposit. The ongoing work has been demonstrating significantly high-grades in gold, silver, lead and zinc across mineralized areas identified. Near surface, the oxide gossan cap and carbonate replacement are particularly extensive with strong similarities with the Leadville polymetallic system in Colorado, USA. At La Union the Paleozoic carbonate stratigraphic section is a composite of over 1,000 m thick regionally and the mineralization of chimneys and mantos is open in multiple directions.

Riverside's President and CEO, John-Mark Staude: 'We are excited to complete the acquisition of multiple key pieces of the project area at La Union, including the historic mines of Famosa and Plomito. Riverside is moving forward with growing projects, and generating exploration results at our properties, which continue to demonstrate the value of applying the Riverside property database and local team knowledge to capture and progress excellent mineral projects. The next steps for the La Union district will consist of field work and geophysics, which are expected to refine drilling targets.'

About Riverside Resources Inc.

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and approximately 71M shares outstanding with a strong portfolio of gold-silver and copper assets 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. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company's website at www.rivres.com.

Contact:

John-Mark Staude

Tel: (778) 327-6671

Fax: (778) 327-6675

Email: info@rivres.com

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.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 2,63 M 2,10 M 2,10 M
Net cash 2020 6,02 M 4,81 M 4,81 M
P/E ratio 2020 6,75x
Yield 2020 -
Capitalization 11,7 M 9,37 M 9,37 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 91,7%
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Managers and Directors
John-Mark Gardner Staude President, Chief Executive Officer & Director
Robert James Scott Chief Financial Officer
Ben Connor Chief Operations & Data Strategist
Brian J. Groves Independent Director
James Clare Independent Director
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